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Ticker:SSFC
Company Name: South Street Financial Corporation

Business Overview from 10-K filing for South Street Financial Corporation:

South Street Financial Corporation (the “Company”) was founded in 1996 as a bank holding company registered with the Board of Governors of the Federal Reserve System (the “Federal Reserve”) under the Bank Holding Company Act of 1956, as amended (the “BHCA”), and the savings bank holding company laws of North Carolina. The Company’s office is located at 155 West South Street, Albemarle, North Carolina. The Company’s primary activity is owning Home Savings Bank of Albemarle, Inc. (the “Bank”), a North Carolina-chartered stock savings bank. The Company’s principal sources of income are earnings on its investments and interest payments received from the Bank’s Employee Stock Ownership Plan (“ESOP”) with respect to the loan made from the Company to the Bank to finance the ESOP. In addition, the Company will receive any dividends that are declared and paid by the Bank on its capital stock. The Bank was originally chartered in 1911.     

View the full SSFC chart at Wikinvest

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