News Archive
Rights Offering Announced Macon, Georgia -- February 11, 2008 -- Security Bank Corporation announced today that it is planning to commence a $35 million rights offering of common stock to its shareholders to improve its capital and liquidity position. See the full news release here.
Third quarter earnings announced by Security Bank Macon, Ga., Oct. 24, 2007 -- Security Bank Corporation today reported quarterly net income of $575,000 for the third quarter ended September 30, 2007, down 92% from third quarter 2006 net income of $6,940,000. Diluted earnings per share for the third quarter of 2007 were $0.03 compared to $0.37 per share for the comparable year ago period. The decrease in diluted earnings per share is primarily attributable to a 66 basis point decline in net interest margin and an $8.2 million increase in provision for loan losses versus the third quarter a year ago. To view the entire release, click here.
Third Quarter WOW winners announced by Security Bank Brunswick, Georgia -- October 23, 2007 -- Hannah Cody and Eric Croft have been named winners of Security Bank's Third Quarter WOW Employee Award. These two employees of the Brunswick office went out of their way to assist a wheelchair-bound elderly customer during one of the 100 degree days this summer. The customer was not able to come to the bank to make her regular withdrawal because just getting out of her home was extremely difficult for her. In an effort to exceed the elderly customer's expectations, Ms. Cody and Mr. Croft drove to the customer's home to deliver her weekly withdrawal. Each quarter, Security Bank recognizes extraordinary employee performance that wows our customers. An annual awards program showcases exemplary service by individuals throughout the company.
Security Bank announces mutual termination of proposed acquisition Macon, Georgia -- August 7, 2007 -- Security Bank Corporation and First Commerce Community Bankshares, Inc. today announced that their respective boards of directors have determined not to pursue the previously announced merger between the two parties. View the complete news release here.
Security Bank reports Second Quarter earnings Macon, Georgia -- July 25, 2007 -- Security Bank Corporation announced financial results for the second quarter and six months ended June 30, 2007. Net income for the quarter was $6.1 million, unchanged when compared to the second quarter of 2006. Diluted earnings per share were $0.31 compared to $0.36 in the same quarter of 2006. For the complete earnings release, click here.
Heather Roark is WOW Winner for 2nd Quarter July 19, 2007 -- Heather Roark was named the "Way Over Wonderful" (WOW) Employee for 2nd Quarter 2007 for demonstrating care and thoughtfulness to a special Security Bank customer. A United States Army Captain, who is also a bank customer, had been serving overseas in Iraq and was going to be home to sign some account paperwork. Heather found out from his parents when he would be coming into the branch, and she took the initiative to make him a "Welcome Home" sign and ordered him a cookie cake. Upon the Captain's arrival, he was welcomed by everyone in the branch and was honored for his service. Security Bank commends Heather on her efforts for not only showing special attention to the customer, but for also supporting our troops. Each quarter, Security Bank selects a WOW Employee nominated by fellow workers who demonstrate the attitude of gratitude through performance towards the customer and encourage team spirit. The bank's service philosophy is to make customers feel special by providing the most knowledgeable and friendly service every time.
Lori Fincher is WOW Winner for First Quarter April 12, 2007 -- Griffin Office Manager Lori Fincher has been named as the Security Bank WOW Employee of the First Quarter. She was nominated by fellow employees for actively helping a bank customer who experienced sudden health problems as he was leaving the office. Lori even visited the customer in the hospital to let him know his friends at the bank were thinking of him. Each quarter, Security Bank selects a WOW Employee nominated by fellow workers for going far above the call of normal duty. The bank's service philosophy is to make customers feel special by providing the most knowledgeable and friendly service every time.
Security Bank Corporation ranked ninth among top Georgia performers in stockholder return Macon, Georgia - March 29, 2007 - Security Bank Corporation's stockholders earned 387% over the five year period from 2000 to 2005, which ranks the company ninth among Georgia companies with annual revenue of up to $99 million, according to a report in the March 16 edition of Atlanta Business Chronicle. The newspaper report said, "The bank's expansion has been good for investors, with shares doubling in price between 2002 and the beginning of 2005." The newspaper's survey measured how $100 invested in a company's stock on Dec. 31, 2000 would have performed over five years, assuming reinvestment of dividends. Rett Walker, President and Chief Executive of Security Bank Corporation, said, "Since 2001, our compound annual growth in net income and diluted operating earnings per share have delivered superior value to our shareholders."
Security Bank to serve as Sports Hall of Fame Induction Ceremony sponsor MACON, GA - March 28, 2007 - The Georgia Sports Hall of Fame is proud to announce that Security Bank will serve as the presenting sponsor of its 2007 Induction Ceremony. The annual event will take place on Saturday night, May 19 at the Macon City Auditorium in Macon, Georgia. The Class of 2007 includes Steve Bartkowski (football), Kevin Brown (baseball), Larry Campbell (coach), Russell Ellington (coach), Betty Jaynes (contributor), Guy McIntyre (football), Don Richardson (coach), Jessie Tuggle (football) and John Tutt (coach). "It's a great honor to be the Presenting Sponsor of the 2007 Georgia Sports Hall of Fame Induction Ceremony, " said Dan Forrester, president of Security Bank of Bibb County. "We are proud to join in recognizing this year's inductees and being involved with this great institution." Security Bank has been the Georgia Sports Hall of Fame's home bank since 1999.
Security Bank forms Correspondent Banking Division March 19, 2007 - Macon, Georgia - Security Bank Corporation announced today the formation of a Correspondent Banking Division to serve other community banks in Georgia and other Southeastern states. The new division will be led by veteran bankers Peter Faser and John Bearden and will be based in metro Atlanta. "This new division broadens our ability to do business with more community banks in the entire region," according to Dan Forrester, President of Security Bank of Bibb County. Rett Walker, President and CEO of Security Bank Corporation, said, "I am confident the new division will make an immediate impact on our loan volume. Peter and John already have strong working relationships with many community banks and will hit the ground running." Peter Faser joins Security Bank as Senior Vice President of Correspondent Banking after 13 years in commercial and correspondent banking, most recently as head of correspondent lending at Flag Bank. He began his career at SunTrust and has also had correspondent banking assignments at The Bankers Bank and Futurus Bank. A graduate of Washington & Lee University, Faser resides in Atlanta. John Bearden is Vice President of Correspondent Banking. His career includes commercial and correspondent banking experience at SunTrust, The Bankers Bank and Flag Bank. He is a graduate of the University of Georgia with a bachelor's degree in Finance and resides in Atlanta.
Security Bank acquires CFS Wealth Management, LLC Macon, GA. - February 26, 2007 - Security Bank Corporation announced today it has acquired CFS Wealth Management, LLC, an independent investment management and financial planning firm in Macon. Under terms of the agreement, CFS becomes a wholly owned subsidiary of Security Bank Corporation of Bibb County and will continue to operate as CFS Wealth Management, LLC. In the coming months, Security Bank will introduce the firm and its investment advisory services to current Security Bank customers. "We are extremely glad to welcome the clients and professionals of CFS Wealth Management to the Security Bank family," said Richard A. Collinsworth, Security Bank Regional Executive for Middle Georgia president of Security Bank of Bibb County. "We are certain that our own customers will benefit from the independent, unbiased and professional investment advice offered by CFS."
Daniel M. Forrester elected President of Security Bank of Bibb County February 23, 2007 - Macon, Georgia - The Board of Directors of Security Bank of Bibb County has announced the election of Daniel M. Forrester as President. He also was elected a member of the Board of Directors. Forrester assumes the position held previously by Richard A. Collinsworth, who has been elected Regional Executive for Middle Georgia and retains his position as Executive Vice President and Chief Operating Officer for Security Bank Corporation.
Welcome to our newest customers from Homestead Bank Feb. 20, 2007 – On behalf of the entire Security Bank family, we are happy to welcome Homestead Bank. We have completed the conversion of Homestead to Security Bank of Gwinnett County. For our newest customers, here are some frequently asked questions and answers about the conversion.
Linda Butler is WOW Employee of 4th Quarter January 10, 2007 – Security Bank announced today that Linda Butler, manager of the St. Simons Island office in Glynn County, has been named WOW Employee of the Quarter. She was selected recently for her creativity and enthusiasm in serving as a role model for her staff. Right in the branch office, Linda prepared and served a full-course breakfast complete with real china, cloth linens and a personal gift for her entire staff. Why did she go to such lengths? “I wanted to make each person feel special,” Linda explained. “And to show my employees how we want every one of our customers to feel when they come to Security Bank.”
Trio Shares WOW Employee Award for 3rd Quarter October 10, 2006 – Security Bank has named three Fairfield Financial employees joint winners of the WOW Employee Award. Fairfield Financial is one of Georgia’s leading mortgage companies and is a wholly-owned subsidiary of Security Bank of Bibb County. Regina Bennett, Jason Howell and Tricia Wyatt teamed together over a weekend to help process and close a new home mortgage for an anxious customer. Working through the weekend and finishing the transaction by 9:00 Monday morning, they went way out of their way to assist loan officer Kacy Discher in making a great impression on the homebuyer and real estate agent. “Our customers were thrilled and the real estate agent was very impressed,” said Kacy. Security Bank Corporation Announces 2006 Earnings Per Share Estimate and Bond Portfolio Restructuring
December 28, 2006 -- Security Bank Corporation today announced its estimate for operating earnings per diluted share for the full year of $1.38 to $1.40, based on estimated fourth quarter 2006 operating earnings of approximately $6.0 million to $6.4 million, or approximately $0.31 to $0.33 per diluted share. The Company's estimate for 2006 operating earnings per diluted share is below previously issued 2006 operating earnings guidance of $1.42 to $1.47 per diluted share, primarily due to the recent deterioration in
certain acquisition and development ("A&D") real estate loans.
Welcome North Fulton Customers October 16 -- We are pleased to welcome our newest customers and employees of Neighbors Bank. Based in Alpharetta, Georgia, Neighbors became part of Security Bank Corporation in March 2006. The name change to Security Bank of North Fulton was completed over the weekend of October 14-15. The bank, located at 2380 Old Milton Parkway, opened its doors on October 16 as Security Bank with the same friendly staff who have served you as Neighbors. Our newest customers from North Fulton may find answers to some frequently asked questions by clicking here.
3rd Quarter Dividend Announced August 21, 2006 – Security Bank Corporation announced today that it has declared a third quarter dividend, paying $0.075 per share on September 29, 2006 to shareholders of record on September 15, 2006. For more information, contact Jim McLemore, Chief Financial Officer, at (478) 722-6243.
Employees Recognized for WOW Service Each quarter, Security Bank recognizes an employee for demonstrating the best example of exemplary customer service by exceeding customer expectations. In the first quarter of 2006, Jackie Groves of the Financial Division in Bibb County and Terry Moore of the Watson Blvd. branch in Houston County were recognized as co-winners of the WOW Employee of the Quarter. Winner of the Second Quarter WOW Employee award was Karol Harvey of the St. Simons Island branch in Glynn County.
Acquisition of Homestead Bank Completed July 31, 2006 – Security Bank Corporation announced today that it has completed the acquisition of Homestead Bank, a community bank with approximately $287 million in total assets located in Suwanee, Georgia. Originally announced in April 2006, the acquisition was approved overwhelmingly by Homestead Bank’s shareholders on July 26, 2006 and has also received final regulatory approval. The name of Homestead Bank will become Security Bank of Gwinnett County in 2007. |
