Customers Feel Pressure From Higher Rates: Williams

David Weston interviews Darren Williams, CEO of Southern Bancorp, about the impact of rising interest rates on small businesses and consumers. Williams discusses the challenges of loan refinancing, the current state of loan demand, and asset quality. He expresses concerns about consumer credit and the economic outlook. The conversation also covers the rising cost of funds and the status of commercial real estate. Despite these challenges, Southern Bancorp is pursuing growth, particularly in the mortgage sector, focusing on first-time and minority homebuyers.

What concerns did Darren Williams express regarding higher interest rates?

How are small businesses affected by the need to refinance loans?

What is the current state of loan demand according to Darren Williams?

What trends are being observed in consumer credit usage?

What impact are rising rates having on the cost of deposits for banks?

How does Darren Williams describe the commercial real estate situation?

What strategies is Southern Bancorp employing to grow despite economic challenges?