Augusta Economy

More News | Fort Gordon | Plant Vogtle | Savannah River Site | Editor

Georgia Bank & Trust parent company reports first quarter profit of $3.3 million

  • Follow Business

Georgia Bank & Trust parent company Southeastern Bank Financial Corp. reported Friday first quarter earnings of $3.3 million.

Earnings for 2011’s first quarter were $2.3 million.

Total assets for Southeastern as of March 31 were $1.6 billion, an increase of $33.7 million from Dec. 31.

“We’re making solid progress in an uncertain economy where loan demand continues to be stagnant,” said Southeastern president and CEO Daniel Blanton. “Our success over the past year is an indication that we are on the right track, and as such, we will continue our efforts to grow our interest and noninterest revenue streams, while enhancing profitability and shareholder value.”

Total deposits were $1.4 billion on March 31, an increase of $14.2 million from Dec. 31 and a decrease of $4.8 million from March 31, 2011.

loading...
Top headlines

Builder questions city's bidding process

City projects that are bid on over and over are a waste of time and money for small businesses, said an attorney seeking to "start a dialogue" about possibly changing Augusta's procurement process.
Search Augusta jobs