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Southern Bancorp hopes to raise $20M-$25M in capital

Arkadelphia, Ark.-based Southern Bancorp Inc. hopes to raise $20 million to $25 million in capital by the end of 2017, Arkansas Business reported, citing CEO Darrin Williams.

The company did not disclose the specifics of possible capital offerings.

In addition, Southern Bancorp has reorganized its stock structure to two classes of common stock, from five classes, to make it easy to issue stock through private placement.

The company was not immediately available for comment.