Southeastern Bank Financial’s diluted earnings per share for the fourth quarter of 2007 were $0.49, compared with $0.52 for the same period last year. The bank’s loans outstanding at the end of the fourth quarter were $882.7 million, an increase of 17.7% from December 31, 2006.
For all of 2007, the company has reported a net income of $11.8 million or $2.14 in diluted earnings per share (EPS), an increase of 5.4% in net income and 3% in EPS when compared to the net income of $11.2 million, or $2.08 in diluted earnings per share for 2006.
Daniel Blanton, president and CEO of Southeastern Bank Financial, said: Generating increases in both earnings and income in one of the more difficult banking years in memory is a great accomplishment and a testament to the soundness of our banking philosophy, the strength of our markets and the talent of our people.
