Alma Exchange Bank & Trust, Alma, Georgia was chartered on September 13, 1939 when directors Valene Bennett, Nathan Cohen, M E Jones, John Mullis, and J F Ramsey received permission to convert Alma Exchange Credit Union to a state chartered financial institution.
Alma Exchange Credit Union had been organized in 1930 when eight incorporators invested $5.00 each to establish an organization for the purposes of making change and cashing checks.
In 1981 South Banking Company was organized as a multi-bank holding
company and acquired 100% of the outstanding stock of Alma Exchange Bank & Trust, Alma, Georgia and Citizens State Bank, Kingsland, Georgia.
In 1990 South Banking Company acquired 100% of the outstanding stock of Peoples State Bank & Trust, Baxley, Georgia. In 1993 Bankers Data Services, Inc., which is 100% owned by South Banking Company, was formed to
process data for the banks in the holding company. Early in 1996 South
Banking Company acquired 100% of the shares of Pineland State Bank,
From its beginning in 1939, Alma Exchange Bank & Trust has had as its
PRIMARY objective the serving of banking and economic needs of Bacon County. The bank is a responsible member of the business community and realizes it has a definite moral responsibility to meet the legitimate credit needs of the community.