SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  FORM 10-KSB/A


(Mark One)

|X|  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

For the fiscal year ended June 30, 2000

| |  TRANSITIONAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

For the transition period from                to
                               --------------     ---------------

                         Commission File Number: 1-13964

                         THE SOUTHERN BANC COMPANY, INC.
                         -------------------------------
                 (Name of Small Business Issuer in Its Charter)

          DELAWARE                                   63-1146351
--------------------------------         ------------------------------------
(State or Other Jurisdiction of          (I.R.S. Employer Identification No.)
 Incorporation or Organization)

221 S. 6TH STREET, GADSDEN, ALABAMA            35901
--------------------------------------       --------
(Address of Principal Executive Offices)    (Zip Code)

         Issuer's Telephone Number, Including Area Code: (256) 543-3860

           Securities registered pursuant to Section 12(b) of the Act:

COMMON STOCK, PAR VALUE $.01 PER SHARE          AMERICAN STOCK EXCHANGE
--------------------------------------    --------------------------------------
             (Title of Class)             (Name of Exchange on Which Registered)

           Securities registered pursuant to Section 12(g) of the Act:
                                 Not Applicable

Check whether the issuer:  (1) filed all reports required by Section 13 or 15(d)
of the Exchange Act during the preceding 12 months (or such shorter  period that
the registrant  was required to file such reports),  and (2) has been subject to
such filing requirements for the past 90 days. Yes X No _____

Check if there is no disclosure of delinquent  filers in response to Item 405 of
Regulation S-B contained in this form, and no disclosure  will be contained,  to
the  best  of  registrant's   knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in Part III of this Form  10-KSB or any
amendment to this Form 10-KSB. [X]

Registrant's revenues for the fiscal year ended June 30, 2000:  $645,725

The  aggregate  market  value  of the  757,817  shares  of  Common  Stock of the
registrant issued and outstanding held by non-affiliates  was approximately $8.0
million based on the closing sales price of $10.56 per share of the registrant's
Common Stock on September 25, 2000 as listed on the American Stock Exchange. For
purposes of this calculation,  it is assumed that directors,  executive officers
and beneficial  owners of more than 10% of the registrant's  outstanding  voting
stock are affiliates.

Number of shares of Common Stock outstanding as of September 25, 2000: 1,006,498

Transitional Small Business Disclosure Format   Yes              No    X
                                                    --------        ------

                       DOCUMENTS INCORPORATED BY REFERENCE

The following lists the documents incorporated by reference and the part of this
report into which the document is incorporated:

1.   Portions  of the Annual  Report to  Stockholders  for the Fiscal Year Ended
     June 30, 2000 (the "Annual Report"). (Parts I and II)

2.   Portions of the Proxy Statement for the registrant's 2000 Annual Meeting of
     Stockholders (the "Proxy Statement"). (Part III)

<PAGE>
                                   SIGNATURES

         Pursuant to the  requirements  of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its  behalf  by the  undersigned,  thereunto  duly  authorized,  as of the  date
indicated below.

                                      THE SOUTHERN BANC COMPANY, INC.


Date:  October 3, 2000              By:      /S/ JAMES B. LITTLE JR.
                                           -------------------------------------
                                           James B. Little Jr.
                                           Chairman of the Board, President and
                                           Chief Executive Officer
                                           (Duly Authorized Representative)

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