Southeastern Bank Financial Q2 Profit Rises

(RTTNews) - Southeastern Bank Financial Corp. (SBFC), the holding company for Georgia Bank & Trust Co. of Augusta, Friday reported second-quarter earnings of $4.0 million or $0.60 per share, up from $3.4 million or $0.50 per share in the comparable quarter last year.

Net-interest income increased 2.4 percent to $13.3 million from $13.0 million last year. Net-interest margin was 3.36 percent, compared to 3.40 percent last year.

Non-interest income totaled $5.2 million, down 3 percent from last year, due to slower mortgage volumes as well as a decrease in gains on the sale of investment securities.