Southern National Bank

Southern National Bank was a bank headquartered first in Lumberton, North Carolina and then in Winston-Salem, North Carolina. It joined with BB&T in 1995.

In 1897, former North Carolina governor Angus MacLean and Judge Thomas A. McNeill started the Bank of Lumberton with $15,000. In 1955, MacLean's son Hector became president, and in 1959, The National Bank of Lumberton changed its name to Southern National.

In 1979, Carolina State Bank of Gastonia, started in 1971, became part of Southern National.

In 1982, Southern National took over Winston-Salem-based Forsyth Bank & Trust, led by Glenn Orr.

In 1985, Southern National had assets of $1.5 billion. With the purchase of a former Northwestern Bank branch in Hickory, which had to be sold after the First Union-Northwestern merger, Southern National had 99 branches in 26 counties.

In 1986, Southern National Corporation entered South Carolina with the $10 million purchase of Horry County State Bank of Loris. Later that year, Southern National announced the $5.6 million purchase of First Palmetto Bancshares Corp. of Columbia and the $9.75 million purchase of Capital Bank and Trust Co. of Belton. At the time, Southern National was North Carolina's seventh-largest banking company.

Also in 1986, Southern National sold its Southern National Mortgage Co. to NCNB for an estimated $7 million. Southern National had not intended to sell the business but NCNB made a good offer and the bank could use the money for its South Carolina purchases. NCNB had exited the mortgage business in 1981 to concentrate on interstate banking, though NCNB bought Bank of North Carolina in 1982 and sold that bank's mortgages to Southern National.

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