Commercial Banks
Company Overview of Southern Community Financial Corporation
Company Overview
4605, Country Club Road
Winston-Salem, NC 27104
United States
Founded in 1996
286 Employees
Key Executives for Southern Community Financial Corporation
Southern Community Financial Corporation does not have any Key Executives recorded.
Southern Community Financial Corporation Key Developments
Southern Community Financial Corp. will be removed from NASDAQ Composite Index
Southern Community Financial Corp. reported unaudited earnings results for the second quarter ended June 30, 2012. For the quarter, the company reported interest income of $15,442,000 against $18,148,000 for the same period last year. Net interest income was $10,670,000 against $12,570,000 for the same period last year. Income before taxes was $1,091,000 against $1,149,000 for the same period last year. Net income available to common shareholders was $446,000 or $0.03 per basic and diluted share against $511,000 or $0.03 per basic and diluted share for the same period last year. Tangible book value per common share as at June 30, 2012 was $3.44 against $3.12 as at June 30, 2011. Return on average assets (annualized) was 0.30% against 0.29% for the same period last year. Return on average equity (annualized) was 4.44% against 5.00% for the same period last year. Return on tangible equity (annualized) was 4.46% against 5.03% for the same period last year. The company's second quarter 2012 net charge-offs increased sequentially to $3.5 million, or 1.52% of average loans on an annualized basis, from $2.9 million, or 1.22% of average loans on an annualized basis, for the first quarter of 2012.
Southern Community Financial Corp., Special/Extraordinary Shareholders Meeting, Sep 19, 2012., at 15:00 US Eastern Standard Time. Location: The Village Inn Event Center. Agenda: To consider and vote upon a proposal to approve and adopt the agreement and plan of merger, dated as of March 26, 2012 and amended as of June 25, 2012, by and between the company, Capital Bank Financial Corp. and Winston 23 Corporation; and to consider and vote, on an advisory (nonbinding) basis, on a proposal to approve the compensation that may be paid or become payable to the company’s named executive officers in connection with the merger including the agreements and understandings pursuant to which such compensation may be paid or become payable.
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