Southern Bank to open location on Halstead Extended


By William F. West
Staff Writer

Sunday, November 18, 2018

A regional bank already with a commercial lending office in Elizabeth City is planning to open a full-service bank along the Halstead Boulevard Extended corridor.

Southern Bank, which is based in Mount Olive, paid Elizabeth City-based McMor Development $735,000 for an empty lot at the northeast corner of Halstead Extended and Forest Park Road and in the City Center West business development, Pasquotank County Register of Deeds records show.

The records state the deed was filed on Oct. 5. The amount Southern Bank paid McMor is based on the real estate transfer tax, which reflects 1 percent of the sale price.

Southern Bank’s history can be traced back to 1901. The bank’s website states the bank presently has more than $2 billion in assets and more than 60 locations throughout eastern North Carolina and Virginia.

Southern Bank spokesman John Heeden in mid-April 2016 announced the bank’s intention to open a loan production office in an already existing building at the southeast corner of East Ehringhaus and South Road streets.

In an email on Thursday, Heeden said Southern Bank purchased the land off Halstead Extended to construct a new full-service bank.

Heeden also said plans are to relocate the operations off East Ehringhaus into the future location off Halstead Extended.

Pasquotank County tax records list Action Realty Associates as the owner of the East Ehringhaus property.

Heeden said because Southern Bank is quite early in the process of making the future Halstead Extended location a reality, he doesn’t have further details to share right now.

Elizabeth City City Planner Cheryl Eggar in an email on Thursday said she knew Southern Bank was looking at the site off Halstead Extended, but she said the bank has not submitted any site plans to the municipal Community Development Department.