Performance of U.S. banks is not likely to improve in the near-term as  global growth concerns and low client activities continue to hamper profitability. But the picture doesn’t look extremely gloomy as there are many small regional banks which are performing well. Also, with the odds of an interest rate hike in June, the banks’ top lines are poised to benefit.

Notably, small banks are expected to benefit more than the large banks in a rising rate environment, as the primary source of revenues for small regional banks is interest income.

However, banks in all regions are not equally susceptible to a multitude of hazards. In fact, economies of some of the regions look favorable for their resident banks. So these banks might be able to deal with the broader issues better than others. One such region is the Southeast.

The economy of the Southeast region is dependent on tourism, automobile industry, technology firms and financial services. The regional economy is showing signs of revival since the 2008 financial crisis. According to the Bureau of Labor Statistics, the Southeast region’s unemployment rate was 5.2% in Apr 2016, substantially improving from nearly 9% witnessed during the height of financial crisis in 2008.

The economic revival has placed the Southeast region’s banks on a growth path with a rise in demand for loans. Further, the Federal Reserve’s projection of two rate hikes this year will definitely increase the banks’ top line. Also, their financials will get a boost from the improving asset quality and decreases in delinquent loans.

Here is the list of five Southeast banks that have witnessed year-over-year increase in profitability in the last concluded quarter. Further, these banks are expected to witness an earnings growth of 5% or more in 2016. All these banks hold a Zacks Rank #1 (Strong Buy), indicating the possibility of a solid performance in the near future.

First Bancorp (FBP - Snapshot Report) is the bank holding company for FirstBank Puerto Rico. The company provides a range of financial products and services to retail, commercial, and institutional clients.

In the first quarter 2016, First Bancorp earnings surpassed the Zacks Consensus Estimate driven by lower provisions. The company’s earnings are projected to surge 320% year over year in 2016.

Additionally, over the last 30 days, the Zacks Consensus Estimate for 2016 increased 23.5% to 42 cents and it rose 7.5% to 43 cents for 2017. Moreover, the shares of First Bancorp have appreciated more than 58% over the last three months.

Cardinal Financial Corp. (CFNL - Snapshot Report) provides various banking products and services to commercial and retail customers in Northern Virginia, Maryland and Washington, D.C.

In the first quarter 2016, Cardinal Financial earnings beat the Zacks Consensus Estimate, attributable to improved net interest income. For 2016, the company’s earnings are projected to rise 6.95% on a year over year basis.

Additionally, over the last 60 days, the Zacks Consensus Estimate for 2016 increased 5.7% to $1.49 and it rose 3.3% to $1.57 for 2017. The shares of Cardinal Financial have risen more than 16% in the last three months.

Monarch Financial Holdings, Inc. (MNRK - Snapshot Report) operates as the bank holding company for Monarch Bank. The bank offers various commercial and retail banking products and services for businesses, professionals, corporate executives, and individuals.

In the first quarter 2016, Monarch Financial earnings beat the Zacks Consensus Estimate driven by an improved net interest income and absence of provisions. The company’s earnings are projected to increase 13.51% year over year in 2016.

Additionally, over the last 60 days, the Zacks Consensus Estimate for 2016 increased 5.9% to $1.26. Further, the shares of Monarch Financial have increased more than 26% in the last three months.

Southern National Bancorp of Virginia Inc. (SONA - Snapshot Report) is the bank holding company for Sonabank and provides commercial banking services to middle market corporate clients and retail customers.

In the first quarter 2016, Southern National Bancorp’s earnings outpaced the Zacks Consensus Estimate reflecting an improved top line. The company’s earnings are projected to rise 9.33% year over year in 2016.

Additionally, over the last 30 days, the Zacks Consensus Estimate for 2016 jumped 9.3% to 82 cents and it increased 6.2% to 86 cents for 2017.

State Bank Financial Corporation (STBZ - Snapshot Report) operates as the bank holding company for State Bank and Trust Company. The bank offers various community banking services to individuals and businesses.

In the first quarter 2016, State Bank Financial earnings improved year over year driven by a rise in non-interest income and lower expenses. The company’s earnings are projected to jump 16.99% year over year in 2016.

Additionally, over the last 30 days, the Zacks Consensus Estimate for 2016 rose 5.2% to $1.22 and it increased 10.7% to $1.35 for 2017. The shares of State Bank Financial have appreciated nearly 15% in the last three months.