Southern Bancorp of Arkadelphia is among 10 community development financial institutions that are semifinalists for $8.25 million in grants and awards under a program offered by the Opportunity Finance Network.

The Wachovia Foundation and the John D. and Catherine T. MacArthur Foundation are sponsoring the awards.

The money will be divided between two organizations. The winners will be selected by a national committee from among the semifinalists: ACCION Texas of San Antonio, Texas; Boston Community Capital, Boston; Clearinghouse CDFI of Lake Forest, Calif.; Community First Fund of Lancaster, Penn.; New Hampshire Community Loan Fund of Concord, N.H.; Corporation for Supportive Housing of New York City; Housing Development Fund Inc. of Stamford, Conn.; IFF of Chicago; Latino Community Credit Union of Durham, N.C.; and Southern Bancorp.

The recipients of the awards will be named in December in Miami.