It is a wholly owned subsidiary of Southern BancShares (N.C.), Inc., a bank holding company.
The company operates 64 branches in North Carolina and Virginia.
The Home Office of the Bank is located at 116 East Main Street, Mount Olive, North Carolina.
In 2011, the company acquired the assets and liabilities of the failed Bank of the Commonwealth.
[2] On February 1, 2016, the bank merged with Heritage Bankshares.