First Southern Bancshares of Alabama in Florence said has taken a second-quarter charge of almost $1 million dollars because of what may be fraudulent loans.

The $180 million-asset parent of First Southern Bank is pursuing an internal investigation of bad loans to a commercial customer and "several persons affiliated with the customer," it said in a news release last week.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.