Independent Banker - February 2022 - 70

CONNECTIONS TRAILBLAZER
community banks want to continue
to grow, they'd better figure out how
to better serve that segment of the
population. CDFIs are closer to these
communities and know how to serve
them. Partnering with a CDFI is a
good way to start. "
Williams recognizes that gaining
CRA credits has traditionally been
the incentive for community banks to
work with CDFIs but hopes that banks
will also embrace the importance of
proactively serving segments of the
community that are often left out.
Closing the gap
In the wake of the murder of George
Floyd and the subsequent national
unrest, Williams talked with other
business leaders about ways to close
the racial wealth gap.
In December 2021, Southern
Bancorp partnered with $23.2 billionasset
Simmons Bank, headquartered
in Pine Bluff, Ark., to launch the
Minority Business Empowerment
Fund. The fund will provide minority
entrepreneurs with small business
loans and technical assistance, such
as financial literacy and business
skills. The pilot project is based
in Little Rock, Ark., but Williams
hopes to scale beyond Southern
Bancorp's footprint.
Williams believes that access
to more comprehensive banking
services and economic empowerment
is crucial to building thriving
communities. He cites findings
from the Pew Charitable Trust
that Americans who move out of
the bottom quintile of poverty had
greater savings, wealth and home
equity than those who don't manage
to move up. That's where CDFIs can
make a difference.
" We were founded to be wealth
builders for everyone, " he says. 
Judith Sears is a writer in Colorado.
70 Q ICBA Independent Banker Q February 2022
Southern Bancorp's
sustainability focus
In its quest for innovation, Southern Bancorp has
affiliated with the Global Alliance for Banking on
Values (GABV), a network of independent bankers
that seeks to use finance to deliver economic,
social and environmental development. " We want
to support people, not just synthetic products
or derivatives, " says Darrin Williams, Southern
Bancorp CEO and North American representative
on the GABV board. " We want to help people
create businesses, put people in homes and lift
their financial feasibility. "
Williams explains that the involvement with
GABV has impelled Southern Bancorp's leadership
to find ways to reduce the bank's carbon
footprint. He points out that many community
banks are in older buildings with aging HVAC and
lighting systems. Southern has ordered an audit
of its utility bills and is tackling areas of least
efficiency, starting with installing programmable
thermostats. Southern Bancorp is building a new
corporate headquarters in Little Rock, Ark., and a
priority of its design will be energy efficiency.
Over the longer term, Southern Bancorp's
leadership plans to score its loan portfolio for
carbon emissions. Williams sees an important
role for financial institutions in promoting
sustainability and recognizes that such a role will
have to evolve. " This is a marathon, not a sprint, "
he says. " We want to encourage our borrowers to
think about the planet, and we want to encourage
products that support sustainability. "
Independent Banker - February 2022

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