8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 20, 2005

THE SOUTHERN BANC COMPANY, INC.

(Exact name of registrant as specified in charter)

Delaware	33-93218	63-1146351
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

221 S. 6th Street, Gadsden, Alabama	35901-4102
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (256) 543-3860

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 8.01 OTHER EVENTS

On June 20, 2005, the registrant announced authorization of a stock repurchase program of up to 31,250 shares, or approximately 3.5% of its currently outstanding common stock. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

Exhibit 99.1 -        Press Release dated June 20, 2005 announcing stock repurchase program.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	THE SOUTHERN BANC COMPANY, INC.
DATE: June 24, 2005	By:	/s/ Gates Little
		Gates Little
		Chairman of the Board,
		President and Chief Executive Officer

EXHIBIT INDEX

Exhibit Number
99.1	Press Release dated June 20, 2005 announcing stock repurchase program.

EX-99.1

Exhibit 99.1

NEWS RELEASE

FOR MORE INFORMATION

CONTACT

Mr. Gates Little

Chairman of the Board and President

(256) 543-3860

FOR IMMEDIATE RELEASE

June 20, 2005

THE SOUTHERN BANC COMPANY, INC.

ANNOUNCES STOCK REPURCHASE PROGRAM

Gadsden, Alabama … The Southern Banc Company, Inc. (OTCBB:SRNN), the holding company for The Southern Bank Company, announced today that it is commencing a stock repurchase program to acquire up to 31,250 shares, or approximately 3.5% of its currently outstanding common stock. Stock repurchases will be made from time to time, on the open market or in privately negotiated transactions, at the discretion of the company’s management. The repurchase program will be dependent upon market conditions and other requirements, and there is no guarantee as to the exact number of shares to be repurchased by the company.

Gates Little, Chairman of the Board and President of the company and the bank stated that the Board of Directors has authorized the repurchase program.

According to Mr. Little, stock repurchases by the company generally would be effected through open market purchases, although he did not rule out the possibility of unsolicited negotiated transactions or other types of repurchases.

At March 31, 2005, the company had total assets of $106.6 million and stockholders’ equity of $16.8 million, or 15.8% of total assets. The Southern Bank Company operates four banking offices in Gadsden, Albertville, Guntersville, and Centre, Alabama.

Certain statements in this release contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which statements can generally be identified by the use of forward-looking terminology, such as “may,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “target,” “plan,” “project,” “continue,” or the negatives thereof, or other variations thereon or similar terminology, and are made on the basis of management’s plans and current analyses of the Company, its business and the industry as a whole. These forward-looking statements are subject to risks and uncertainties, including, but not limited to, economic conditions, competition, interest rate sensitivity and exposure to regulatory and legislative changes. The above factors, in some cases, have affected, and in the future could affect, the Company’s financial performance and could cause actual results to differ materially from those expressed or implied in such forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.