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South Street Financial Corp. Announces Suspension of Quarterly Cash Dividend
Submitted: March 28, 2012

ALBEMARLE, NC, Wednesday, March 28, 2012, South Street Financial Corp., the parent holding company for Home Savings Bank of Albemarle, Inc., SSB, Albemarle, North Carolina, announced today that its board of directors has voted to suspend the payment of the quarterly cash dividend on the Company’s common and preferred stock in an effort to conserve capital. South Street Financial Corp. Chairman, President and Chief Executive Officer R. Ronald Swanner stated that "while the Company and the Bank remain well capitalized under regulatory requirements, our Board of Directors felt it was prudent to suspend dividend payments in order to preserve capital given the continued difficult economic times in our market area.”

Contact: South Street Financial Corp.
Mr. R. Ronald Swanner, Chairman, President and CEO
Mr. David L. Smith, Secretary
(704) 982-9184


South Street Financial Corp. Announces Declaration of Cash Dividend
Submitted: September 20, 2011

ALBEMARLE, NC, Tuesday, September 20, 2011, South Street Financial Corp., the parent holding company for Home Savings Bank of Albemarle, Inc., SSB, Albemarle, North Carolina, announced today that its board of directors declared a quarterly cash dividend of $0.03 per share for the quarter ending September 30, 2011.

The dividend will be payable on October 17, 2011 to common and preferred stockholders of record at the close of business on October 3, 2011.

Contact: South Street Financial Corp.
Mr. R. Ronald Swanner, Chairman, President and CEO
Mr. David L. Smith, Secretary
(704) 982-9184


South Street Financial Corp. Announces Declaration of Cash Dividend
Submitted: Wednesday, June 23, 2011

South Street Financial Corp., the parent holding company for Home Savings Bank of Albemarle, Inc., SSB, Albemarle, North Carolina, announced today that its board of directors declared a quarterly cash dividend of $0.03 per share for the quarter ending June 30, 2011.

The dividend will be payable on July 15, 2011 to stockholders of record at the close of business on July 5, 2011.

Contact:
South Street Financial Corp.
Mr. R. Ronald Swanner, Chairman, President and CEO
Mr. David L. Smith, Secretary
(704) 982-9184

 



Mauldin Named Assistant Vice President of Home Savings Bank

Home Savings Bank is pleased to announce that Randy D. Mauldin has been named Assistant Vice President of Home Savings Bank. Mauldin works as Assitant Branch Manager at the Corporate location on Albemarle’s square.

Mauldin graduated Albemarle High School and went on to receive his degree in Accounting and Finance from Lenoir-Rhyne College in 2004. He is also a graduate of the North Carolina School of Banking in Chapel Hill. Mauldin is a Rotarian, a board member and treasurer of Stanly County Habitat for Humanity. He is also a member of Prospect Baptist Church.

"Randy has worked hard for Home Savings Bank the last six years. He is very deserving of his new officer title, and the board and I are confident in his abilities to help lead our bank into the years ahead,” said Home Savings Bank Chairman and CEO Ron Swanner. “In addition, we believe that acknowledging a honest, quality individual with Randy’s professional experience further illustrates our commitment to provide the best in banking services to the residents of Stanly County.”

Home Savings Bank of Albemarle, SSB, is Stanly County’s oldest financial institution with over 99 years of experience in community banking.


South Street Financial Corp. Announces Declaration of Cash Dividend
Submitted: Wednesday, March 23, 2011


ALBEMARLE, NC--Wednesday, March 23, 2011--South Street Financial Corp., the parent holding company for Home Savings Bank of Albemarle, Inc., SSB, Albemarle, North Carolina, announced today that its board of directors declared a quarterly cash dividend of $0.03 per share for the quarter ending March 31, 2011. The dividend will be payable on April 14, 2011 to stockholders of record at the close of business on March 31, 2011.

Contact:
South Street Financial Corp.
Mr. R. Ronald Swanner, Chairman, President and CEO
Mr. David L. Smith, Secretary
(704) 982-9184


Home Savings Bank Announces Promotions
Submitted: Friday, June 26, 2009


Following the Annual Meeting of shareholders on May 18, 2009 at the Main Office and Corporate Headquarters of Home Savings Bank, the Board of Directors promoted four employees upon the recommendation of Chairman of the Board Mr. R. Ronald Swanner. While Mr. Swanner retained his position of Home Savings Bank Chairman and Chief Executive Officer and Chairman, President and Chief Executive Officer of South Street Financial Corp, he named David L. Smith, President and Chief Operating Officer of Home Savings Bank, Melody M. Goins, Executive Vice President of Home Savings Bank, Janice M. Smith, Senior Vice President of Home Savings Bank and Bonnie P. Timberlake, Senior Vice President of Home Savings Bank.

President and Chief Operating Officer David L. Smith is a native of Albemarle, an Albemarle High School graduate and a 1986 graduate of Pfeiffer College. Prior to his employment with Home Savings Bank, he worked with the Federal Home Loan Bank of Atlanta for three years and joined the Office of Thrift Supervision, a Department of the US Treasury in 1989. He joined Home Savings Bank in 1994 as a Vice President, serving as the institution’s Compliance Officer. Smith was promoted to a Senior Vice President in 2000 and to Executive Vice President in 2002. Along with being named President and Chief Operating Officer of Home Savings Bank, he remains Secretary of South Street Financial Corp. In the community, he has served on numerous Boards and committees including the Stanly County Chamber of Commerce Board of Directors, the United Way of Stanly County Board of Directors where he served as Board President and Campaign Chair, the Central North Carolina Council of the Boy Scouts where he served as District Chair, the Albemarle Historic Commission and the Stanly Regional Medical Center Foundation Forum. In addition, Smith is an active member of Central United Methodist Church in Albemarle where he has served on the Board of Trustees and the Finance Committee. He also enjoys serving as a volunteer Little League baseball and basketball coach. He resides in Albemarle with his wife Kecia West Smith and their three children Drayton, Sheldon and Savannah. Smith is the son of Mr. & Mrs. D. Lendell Smith, Jr., also of Albemarle.

Executive Vice President Melody M. Goins is a native of the Endy area and is a West Stanly High School graduate. She joined Home Savings Bank in 1973 as a teller, serving in that capacity for nine years. Goins became an officer of the Bank in 1983 when she was named Assistant Treasurer and became teller supervisor and managed deposits. She was promoted to Vice President in 1994 and Senior Vice President in 2002. Goins joined the executive management team in 2005. Along with being named Executive Vice President of Home Savings Bank, she remains Vice President of South Street Financial Corp. Goins has served in a number of volunteer capacities including serving as a member of the Uwharrie Homes Board of Directors, Board member and Campaign Chair of the United Way of Stanly County and team organizer for the Stanly County Relay for Life. In addition, she is an active member of North Albemarle Baptist Church where she has served on the Relocation Committee, Properties Committee, Finance Committee and has assisted with Vacation Bible School. Goins resides in New London and enjoys her two children Courtney Goins Burnside and Tanner Goins, including 8-month-old Morgan, daughter of Courtney and Brian Burnside of Albemarle. She is the daughter of the late Hubert A. Morgan and the late Clara Geneva Morgan of Oakboro.

Senior Vice President Janice M. Smith is a native of Albemarle and an Albemarle High School graduate. She joined Home Savings Bank in 1973 as a teller. Smith became an officer of the Bank in 1983 when she was named Assistant Secretary and was promoted toVice President in 2000. During her 36 years of service to the bank, she also worked as a customer service representative and worked extensively in the loan department. Along with being named Senior Vice President, she remains Assistant Secretary of South Street Financial Corp. Over the years, Smith has volunteered her time with the Arc of Stanly County and the United Way of Stanly County where she served as a campaign division co-chair. Most recently, she served as a “Hero” as part of the Stanly County Chapter of the American Red Cross Heroes Campaign. In addition, she is a member of First Presbyterian Church of Albemarle. She resides in Albemarle with her husband David M. Smith. She enjoys her daughter Amanda, her three stepsons and their families including Matt and his wife Ann, Mike and his wife Jillian and Drew and his fiancé Jenny and grandchildren Nelson and Riley, children of Matt and Ann Smith of Badin. She is the daughter of the late Thomas A. Mauldin and mother Margie B. Mauldin, who resides in Albemarle.

Senior Vice President Bonnie P. Timberlake is a native of Norwood and a South Stanly High School graduate. She joined Home Savings Bank in 1970 as a teller. Timberlake became an officer of the Bank in 1994 when she was named Assistant Treasurer and was promoted to Vice President in 2002. During her nearly 40 years of service to the bank, she has worked as a customer service representative and receptionist and has worked extensively in the accounting department starting in 1977. She was named Accounting Manager in 2000. Along with being named Senior Vice President of the Bank, she was also named Assistant Treasurer of South Street Financial Corp. Through her love of shag music and dancing, she has been heavily involved in the organization of charitable events for “shaggers” that have raised much needed support for patients suffering from cancer, as well as a number of events raising scholarship funds. Timberlake is a member of First United Methodist Church in Norwood. She resides in Concord with her husband Edward Timberlake, III. She enjoys her daughter Stacey Lambert, her two stepchildren Edward Lee Timberlake IV and Bill Timberlake and grandchildren Hayden and Spencer, children of Stacey and Cale Lambert of Albemarle. She is the daughter of the late Jackie Phillips and mother Ruby Phillips, who resides in Norwood.

Home Savings Bank Chairman of the Board and CEO Ron Swanner commented, “We are honored to promote these individuals, whose experience in the banking industry exceeds more than 125 years, to these new positions. Our directors and management value the relationships that these outstanding employees have made with countless citizens of Stanly County in participating in their financial well-being.”


For more information on these stories, please contact us at info@southstreetfinancial.com

 



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