Little Rock, Ark. – Southern Bancorp, Inc., a Community Development Financial Institution (CDFI), today announced the hiring of a President of Mortgage, a position that will lead its mortgage company and expand its efforts in the industry. Following a nationwide search, Jeremy Davis of Nashville, Tenn., has been selected for the role, marking a significant step in the CDFI’s growth plans and impact potential.
“The expansion of our mortgage business, with a particular focus on reaching Black and Hispanic prospective homebuyers, aligns with our efforts to help close an approximate 30-point homeownership gap these minority households face when compared to white households. In order to address this long-standing and systemic challenge, we needed a leader with a proven track record of providing affordable and responsible mortgages and homebuyer education to first-time homeowners,” said Darrin Williams, CEO of Southern Bancorp, Inc. “Jeremy hits the mark perfectly, bringing extensive experience in both building and operating successful mortgage companies focused on minority communities, as well as a passion for this work that we believe will be key as he builds a team of like-minded lenders to serve communities across the South and Mid-South.”
Davis brings to the role more than 20 years of experience in both the mortgage industry and as an advocate for advancing financial equity in under-resourced communities, a passion that aligns well with Southern Bancorp’s mission. He previously served as President and CEO of InQlusion Mortgage Capital, a full-service, diversity-focused home lending company with a footprint spanning the entire southeast United States. Prior to this, Davis was the Director of Mortgage at FirstBank, where he and his team won the 2020 National Mortgage Bankers Association’s Diversity & Inclusion Award for market outreach strategies that promoted fair lending and minority housing needs.
“I am honored to join the Southern Bancorp team and to be part of this endeavor to expand our mortgage footprint,” said Jeremy Davis. “Homeownership is one of the most important ways for families to build generational wealth, and Southern Bancorp has for decades been working to bridge long-standing gaps in the homebuying industry. By expanding our reach and impact in this field, we can further those efforts and help even more families realize the American Dream.”
The mortgage company led by Davis will serve as a standalone division under the Southern Bancorp umbrella, a unique structure that supports the CDFI’s ability to effectively balance mission and margin. One of America’s oldest and largest community development banks, the organization consists of three separate CDFIs working together, including Southern Bancorp, Inc., a bank holding company; Southern Bancorp Bank, a community development bank; and Southern Bancorp Community Partners, a 501(c)(3) nonprofit loan fund.
Like all of Southern Bancorp’s entities, Davis and his team will tailor their services to meet the diverse needs of customers, which will ensure the ability of homeownership is within reach of everyone, no matter their financial position. The team will consist of proven industry and mission-aligned experts spread throughout the entire South who will serve both Southern Bancorp’s current markets in Arkansas and Mississippi as well as additional communities and states in the region.
About Southern Bancorp
Founded in 1986 by some of the nation’s leading political, business, and philanthropic leaders with an initial investment of $10 million, Southern Bancorp, Inc., along with its development partners – Southern Bancorp Bank and Southern Bancorp Community Partners – has grown into a $2.5 billion asset organization with 56 locations serving 65,000 customers across two states. Southern Bancorp has a unique array of financial products and services designed to help individuals at all stages of life’s financial journey – from teaching kids how to save to helping entrepreneurs and families realize the American Dream. Southern Bancorp is a certified Community Development Financial Institution, certified B-Corp, and proud member of the Global Alliance for Banking on Values. Learn more at www.BankSouthern.com and www.SouthernPartners.org.