FOR IMMEDIATE RELEASE
October 21, 2026
Media Contact:
Matt Smith
Southern Bank
919-259-9313
MOUNT OLIVE, N.C. — Southern BancShares (N.C.), Inc. and Southern Bank and Trust Company (“Southern Bank”) today announced that four members of the Boards of Directors of both companies have been elected to Emeritus status, effective October 21, 2026. Together, Julian R. Aycock, Joel K. Butler, Olivia B. Holding and James Grey Morgan have given 54 years of service to the Southern Bank Board.
Julian R. Aycock, a Fremont farmer, joined the Board in 2013 and has served 13 years.
Joel K. Butler, a retired eastern North Carolina healthcare leader, joined the Board in 2014 and has served 12 years.
Olivia B. Holding, a philanthropist, real estate manager and agriculturist, joined the Board in 2014 and has served 12 years.
James Grey Morgan, former CEO of Southern Bank who began his career with the bank in 2003, joined the Board in 2009 and has served 17 years.
Over the course of their service, Southern Bank has grown from approximately $1 billion in total assets to more than $5 billion and has expanded into new markets across North Carolina and Virginia. Each of these directors has been pivotal to that growth. Mr. Aycock’s agricultural roots and wisdom, Mr. Butler’s diplomatic approach, Ms. Holding’s independent thinking and Mr. Morgan’s unwavering “people first” leadership helped guide the bank through significant growth while keeping it true to its community banking roots.
“These four directors helped shape the bank Southern Bank is today. Their counsel, judgment and commitment to the people of eastern North Carolina helped carry this bank through its most significant period of growth, and their influence will be felt for years to come. We are deeply grateful for their service and their friendship,” said Drew M. Covert, Chairman and Chief Executive Officer of Southern Bank.
About Southern Bank and Trust Company
Founded in 1901, Southern Bank and Trust Company is a wholly owned subsidiary of Southern BancShares (N.C.), Inc. Headquartered in Mount Olive, N.C., the bank has total assets of approximately $5 billion and more than 55 locations serving eastern North Carolina and Virginia. Southern Bank was recently ranked No. 2 on American Banker’s list of top community banks in the nation. Member FDIC.
