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Little Rock, Ark. – Southern Bancorp, Inc., a Community Development Financial Institution (CDFI) and bank holding company, has announced the selection of Will Carrouthers as its Chief Financial Officer, following an extensive nationwide search that attracted candidates from across the country. Carrouthers succeeds Mike Myers, former Winrock Chief Financial Officer and long-time Southern Bancorp board member, who served as the CDFI’s interim CFO since July 2024.
“Finding the right Chief Financial Officer to help guide Southern Bancorp through this exciting chapter of growth was a nationwide effort – because we knew how critical this role would be in strengthening our financial foundation and shaping our future,” said Darrin Williams, CEO of Southern Bancorp, Inc. “Will brings a powerful combination of leadership experience at large financial institutions, innovative work in the fintech space, and a deep appreciation for the mission of community banking. We believe this unique blend of skills and values is exactly what we need to grow while balancing profits with purpose.”
Carrouthers brings two decades of senior-level financial experience to the Chief Financial Officer role at Southern Bancorp. Most recently, he served as Head of Corporate Forecasting & Planning at Wells Fargo, and prior to that as Head of Strategic Business Finance and FP&A for Oportun, a fintech based in San Carlos, Calif. Additional leadership roles and responsibilities throughout his career include as SVP, Private Bank Division Executive CFO at Bank of America, Branch & Premier Banking CFO at SunTrust, and Director of Finance at Worldpay.
As Chief Financial Officer, Carrouthers will oversee all financial functions of Southern Bancorp, Inc., as well as for Southern Bancorp Bank and Southern Bancorp Community Partners, including the CDFI’s overall financial strategies, growth objectives, and general financial operations.
“As someone who grew up in an underserved community, I recognize firsthand how important Southern Bancorp’s work is and how meaningful it, and the CDFI industry as a whole, can be for families across the country,” said Carrouthers. “It’s an honor to now be part of this impactful organization, and I look forward to putting my experiences to work in support of our mission to be wealth builders for everyone.”
A native of the New York City borough of the Bronx and current resident of Charlotte, N.C., Carrouthers is an alumnus of the University of North Carolina at Charlotte where he earned his Bachelor of Business Administration in Finance, as well as of Georgia Institute of Technology where he received his Master of Business Administration. He is an active member of the National Association of Black Accountants and the National Black MBA Association.
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 $2.8 billion asset organization with 56 locations serving customers throughout the South. 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.