Banking company turns a profit

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The holding company for Georgia Bank & Trust reported this morning that it had profits of $2.4 million in the second quarter.

Augusta-based Southeastern Bank Financial Corp., which also runs Southern Bank & Trust in Aiken, reported that the income represented 40 cents per share, compared to $3 million in net income in the second quarter of 2007, or 49 cents a share.

“We fared quite well compared to the overall banking market,” said Chief Executive Officer Dan Blanton. “Overall, we remain in a solid position during this economic environment with respect to our profitability, capital levels, liquidity and asset quality.”

As of June 30, total assets were $1.3 billion, an increase of $180.7 million from a year ago.

Mr. Blanton also said the banking company held no foreclosed property or other real estate.


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