Case Study: Southern Bank earns CRA credit and supports local communities with IntraFi’s ACT Deposit Program

Southern Bank places $5 million with IntraFi to earn CRA credit

Southern Bank, a regional bank based in Missouri, was looking for a safe and streamlined way to foster economic growth in its local communities and earn CRA credit, even in areas where it did not have a full branch network. The bank sought a solution that would allow it to make a meaningful impact while mitigating risk.

IntraFi implemented its Advancing Communities Together (ACT) Deposit Program for Southern Bank. This solution enabled Southern Bank to securely place a $5 million deposit into several Community Development Financial Institutions and a Minority Depository Institution, earning CRA credit while its funds remained liquid and protected with FDIC insurance. As a result, Southern Bank successfully provided valuable financial resources to local borrowers in low- and moderate-income areas, funding initiatives like affordable housing.

Southern Bank