Last $24.75 USD
Change Today 0.00 / 0.00%
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As of 8:10 PM 07/10/14 All times are local (Market data is delayed by at least 15 minutes).

southeastern bank financial (SBFC) Key Developments

Southeastern Bank Financial Corporation Announces Management Changes

On April 23, 2014, the board of directors of Southeastern Bank Financial Corporation elected Ronald L. Thigpen as President and Chief Operating Officer of the company and R. Daniel Blanton as Chief Executive Officer of the Company. Immediately prior thereto, Mr. Thigpen served as Executive Vice President and Chief Operating Officer of the Company, and Mr. Blanton served as President and Chief Executive Officer of the Company. Ronald L. Thigpen, has served as President and Chief Operating Officer of the company since April 23, 2014 and served as Executive Vice President and Chief Operating Officer of the company from October 1997 to April 23, 2014. He joined the company as Chief Financial Officer upon the acquisition of FCS Financial Corporation in December 1992. Mr. Thigpen was elected to the Board of Directors of both the Company in April 1995 and serves on the Executive Committee. He was previously employed as the President and Chief Executive Officer of FCS Financial Corporation and First Columbia Bank from January 1991 to December 1992.

Southeastern Bank Financial Corporation Declares Quarterly Dividend, Payable on May 23, 2014

Board of Directors of Southeastern Bank Financial Corporation declared a regular quarterly cash dividend of $0.13 per share of common stock payable on May 23, 2014, to shareholders of record as of May 9, 2014.

Southeastern Bank Financial Corp. Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2014; Net Charge-Offs for the First Quarter of 2014

Southeastern Bank Financial Corp. reported consolidated unaudited earnings results for the first quarter ended March 31, 2014. The company reported quarterly net income of $3.8 million for the three months ended March 31, 2014, or $0.57 in diluted earnings per share, compared to $3.8 million, or $0.57 in diluted earnings per share, in the first quarter of 2013. Net interest income for the first quarter of 2014 totaled $12.6 million, a 4.7% decrease from $13.2 million for the same period in 2013. Annualized return on average assets (ROA) was 0.91% for the first quarter of 2014, unchanged from the same period a year ago, and annualized return on average shareholder's equity (ROE) was 11.36%, an increase of 23 basis points from the first quarter of 2013. Total interest income was $14,829,105 against $15,688,722 a year ago. Net interest income was $12,571,680 against $13,188,984 a year ago. Income before income taxes was $5,492,533 against $5,497,164 a year ago. Net charge-offs for the first quarter of 2014 totaled 0.52% of average loans on an annualized basis, compared to 0.68% annualized in the fourth quarter of 2013 and 0.77% annualized in the first quarter of 2013.

Southeastern Bank Financial Corporation, Annual General Meeting, Apr 23, 2014

Southeastern Bank Financial Corporation, Annual General Meeting, Apr 23, 2014., at 16:00 US Eastern Standard Time. Location: The Cotton Exchange Office. Agenda: To elect 10 directors to serve for a term ending on the date of the 2015 annual meeting of shareholders or until their respective successors shall have been elected and qualified; and to transact such other business as may properly come before the annual meeting or an adjournment thereof.

Southeastern Bank Financial Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Announces Net Charge-Offs for the Fourth Quarter of 2013

Southeastern Bank Financial Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net interest income was $13,078,436 against $13,051,179 a year ago. Income before income taxes was $6,177,391 against $5,646,688 a year ago. Net income was $4,364,359 against $3,896,061 a year ago. Diluted net income per share was $0.65 against $0.58 a year ago. Annualized return on average assets was 1.01%, an increase of 9 basis points from the same period a year ago, and annualized return on average shareholder's equity was 13.02%, an increase of 150 basis points from the fourth quarter of 2012. Total interest income was $15,406,453 compared with $15,846,509 a year ago. For the full year, the company reported net interest income was $52,799,757 against $51,635,816 a year ago. Income before income taxes was $23,492,941 against $20,921,323 a year ago. Net income was $16,345,729 against $14,434,973 a year ago. Diluted net income per share was $2.45 against $2.16 a year ago. Total interest income was $62,313,684 compared with $63,669,617 a year ago. The company announced net charge-offs for the fourth quarter of 2013 totaled 0.68% of average loans on an annualized basis.

 

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