Southeastern Banking Corporation Reports Third Quarter Earnings
22 October 2004 - 9:18AM
PR Newswire (US)
Southeastern Banking Corporation Reports Third Quarter Earnings
DARIEN, Ga., Oct. 21 /PRNewswire-FirstCall/ -- Southeastern Banking
Corporation (OTC:SEBC) (BULLETIN BOARD: SEBC) today announced
increases in net income for the quarter and nine months ended
September 30, 2004 compared to the corresponding periods last year.
- Net income for the 2004 third quarter totaled $1,479,000 or $0.45
per share, up $119,000 or 9% from September 30, 2003. -
Year-to-date, net income grew $446,000 or 12% to $4,267,000 at
September 30, 2004 from $3,821,000 in 2003. On a per share basis,
net income for the nine month period improved $0.14 to $1.29 at
September 30, 2004 from $1.15 in 2003. Southeastern Banking
Corporation (the Company), with assets of $379 million, is a
financial services company with operations in southeast Georgia and
northeast Florida. Southeastern Bank (SEB), the Company's principal
subsidiary, offers a full line of commercial and retail services to
meet the financial needs of its customer base through its fifteen
branch locations, loan production office in Brunswick, Georgia, and
ATM network. Services offered include traditional deposit and
credit services, long-term mortgage originations, and credit cards.
SEB also offers 24-hour delivery channels including internet and
telephone banking and provides insurance and investment brokerage
services. The Company is headquartered in Darien, Georgia. More
information on the Company and its subsidiaries can be obtained
through SEB's website at http://www.southeasternbank.com/ or
through periodic filings with the Securities & Exchange
Commission at http://www.sec.gov/ . DATASOURCE: Southeastern
Banking Corporation CONTACT: Alyson G. Beasley, Vice President of
Southeastern Banking Corporation, +1-912-437-4141 Web site:
http://www.southeasternbank.com/
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