Southeastern Banking Corporation Reports Third Quarter Earnings25 October 2005
Southeastern BankingCorporation today announced an increase in netincome for the quarter and nine months ended September 30, 2005 compared tothe corresponding periods last year. * Net income for the 2005 third quarter totaled $1,701,000 or $0.52 pershare, up $223,000 or 15% from September 30, 2004. * Year-to-date, net income grew $376,000 or 9% to $4,643,000 at September30, 2005 from $4,267,000 in 2004. On a per share basis, net income for thenine month period improved $0.12 to $1.41 at September 30, 2005 from $1.29 in2004. Southeastern Banking Corporation (the Company), with assets of $378million, is a financial services company with operations in southeast Georgiaand northeast Florida. Southeastern Bank (SEB), the Company's principalsubsidiary, offers a full line of commercial and retail services to meet thefinancial needs of its customer base through its sixteen branch locations andATM network. Services offered include traditional deposit and creditservices, long-term mortgage originations, and credit cards. SEB also offers24-hour delivery channels, including internet and telephone banking, andprovides insurance and investment brokerage services. The Company isheadquartered in Darien, Georgia. More information on the Company and itssubsidiaries can be obtained through SEB's website athttp://www.southeasternbank.com or through periodic filings with theSecurities & Exchange Commission at http://www.sec.gov.
Source: PR Newswire
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