logo
Share SHARE
FONT-SIZE Plus   Neg

Southeastern Bank Financial Q1 Profit Rises

Southeastern Bank Financial Corp. (SBFC) Friday reported first-quarter profit of $3.8 million or $0.57 per share, up from $3.3 million or $0.49 per share in the same period last year.

Net-interest income increased 4.5 percent to $13.2 million from $12.6 million last year. Net-interest margin was 3.40 percent, compared to 3.34 percent last year.

Non-interest income declined to $4.8 million from $10.1 million last year, due to slower mortgage volumes as well as the absence of any gains on the sale of investment securities.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Verizon and Ericsson are working together to test fifth generation or 5G wireless technology at the Indianapolis 500. Verizon said Monday that it has worked with Ericsson and Intel for 5G mobile fixed broadband service trials inside a house near the Indianapolis Motor Speedway. Facebook founder and CEO Mark Zuckerberg said he is not running for public office, amid rising speculation that his plans for traveling the U.S. indicated he is gearing up for a future presidential run. Ford Motor Co. (F) announced the replacement of President and CEO Mark Fields with Jim Hackett, who heads its automotive vehicle subsidiary. The company said, Fields, who served Ford for the last 28 years, opted to retire.
comments powered by Disqus
Follow RTT