Inactive Instrument

STHCRST FINL

Equities

SCSG

US84129X1072

SouthCrest Financial : Bank Agrees to Strategic In Market Branch Acquisition

September 15, 2020 at 02:05 am IST

Back To News & Events

Friday, September 11, 2020

Atlanta GA - SouthCrest Financial Group (SCSG:PK), the holding company for SouthCrest Bank, N.A., announced an agreement to acquire the Thomaston branch of Colony Bank.

CEO Brian D. Schmitt stated 'We are extremely excited to be adding to our position as the leading bank in Thomaston and Upson County. We look forward to giving the same great service to our new customers that we have provided in Upson County for nearly 70 years.'

The agreement includes the purchase of almost $40 million in deposits and approximately $3 million of loans from Colony as of the announcement date. The parties expect to close the transaction at the end of the fourth quarter pending the standard regulatory approval process. Janney Montgomery Scott acted as an advisor to SouthCrest in this transaction.

ABOUT SOUTHCREST

SouthCrest Financial Group, Inc. is a bank holding company with over half a billion dollars in assets, headquartered in Atlanta, GA. The company operates a 9 branch network throughout Georgia through its subsidiary bank, SouthCrest Bank, N.A. The bank provides a full suite of retail, private, entrepreneurial, high-net-worth and commercial banking services, and online banking services.

FORWARD-LOOKING STATEMENTS

This presentation may contain certain 'forward-looking statements' that are subject to risks, uncertainties, and other factors that could cause actual results and shareholder values to differ materially from those projected. Factors that could cause or contribute to such differences include economic conditions, government regulation and legislation, changes in interest rates, credit quality, competition, and other risk factors.

CONTACT
Andy Borrmann
Chief Financial Officer
678-734-3505

Back To News & Events

Attachments

Original document
Permalink

Disclaimer

SouthCrest Financial Group Inc. published this content on 11 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2020 20:34:00 UTC

Latest news about STHCRST FINL

Colony Bankcorp, Inc. completed the acquisition of SouthCrest Financial Group, Inc..	01/21/01	CI
SouthCrest Financial Group, Inc. Declares Quarterly Dividend, Payable on May 20, 2021	23/21/23	CI
Colony Bankcorp, Inc. entered into an agreement to acquire SouthCrest Financial Group, Inc. for $83.2 million.	22/21/22	CI
SouthCrest Financial Group, Inc. Declares Quarterly Dividend, Payable on February 18, 2021	26/21/26	CI
Southcrest Financial Group, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020	26/21/26	CI
SouthCrest Financial Group, Inc. completed the acquisition of Thomaston, Georgia, branch from Colony Bankcorp, Inc..	30/20/30	CI
Southcrest Financial Group, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020	22/20/22	CI
Southcrest Financial Group, Inc. Announces Fourth Quarter Dividend, Payable on November 12, 2020	07/20/07	CI
SouthCrest Financial Group, Inc. signed an agreement to acquire Thomaston, Georgia, branch from Colony Bankcorp, Inc..	11/20/11	CI
SouthCrest Financial Group, Inc. Declares Regular Quarterly Dividend, Payable on August 13, 2020	22/20/22	CI
Southcrest Financial Group, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020	22/20/22	CI
SouthCrest Financial Group, Inc.'s Equity Buyback announced on August 20, 2019, has expired.	30/20/30	CI
SouthCrest Financial Group, Inc. Announces Regular Quarterly Dividend, Payable on May 14, 2020	22/20/22	CI
Southcrest Financial Group, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2020	22/20/22	CI
SouthCrest Financial Group, Inc. Announces Quarterly Dividend, Payable on February 14, 2020	23/20/23	CI
Southcrest Financial Group, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019	23/20/23	CI
SouthCrest Financial Group, Inc. Announces Special Dividend, Payable on December 10, 2019	25/19/25	CI
Southcrest Financial Group Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019	25/19/25	CI
SouthCrest Financial Group, Inc. Announces Management Changes; Announces Increased Quarterly Dividend, Payable on November 15, 2019	23/19/23	CI
SouthCrest Financial Group, Inc. announces an Equity Buyback for $5 million worth of its shares.	21/19/21	CI
SouthCrest Financial Group, Inc. authorizes a Buyback Plan.	20/19/20	CI
Southcrest Financial Group, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019	25/19/25	CI
Southcrest Financial Group Inc. Reports Earnings Results for the First Quarter Ended March 31, 2019	25/19/25	CI
SouthCrest Financial Group, Inc. Announces Quarterly Dividend, Payable on May 15, 2019	29/19/29	CI
SouthCrest Financial Group, Inc. Announces Dividend for the First Quarter of 2019, Payable on February 15, 2019	24/19/24	CI

Chart STHCRST FINL

Duration

Period

More charts

Company Profile

SouthCrest Financial Group, Inc. is a bank holding company for SouthCrest Bank, N.A. (the Bank). The Bank is a retail bank operation, which offers consumer and commercial loans, checking, savings, credit cards, debit cards, online banking and bill pay services. The Company operates 10 branches throughout Georgia. The Bank offers personal and business banking services, including checking accounts, savings accounts, personal consumer loans, credit cards, business checking accounts and others. The Bank also offers various services and tools for business, including remote deposit capture, positive pay, automated clearing house, online wires, merchant services, cash management, business payroll and record checks. The Bank offers commercial and real estate loans. The bank also provides a full suite of retail, private, entrepreneurial, high-net-worth and commercial banking services, and online banking services.

Sector

More about the company