Southcrest Fin Grp (SCSG) 5.4000 $SCSG
SouthCrest Financial Group Reports Preliminary 1Q15 Results
GlobeNewswire - Wed May 06, 10:13AM CDT
Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (SCSG
K), announced today that the company reported a preliminary net loss for the first quarter of 2015 of $375,000. "There were several moving pieces that impacted our first quarter results. We exited the non-single family residential portion of our loss share agreement that resulted in $279,000 of expense and we completed an additional personnel downsizing that resulted in severance expenses of nearly $170,000. We also completed a sale of nearly $4 million of non-performing TDR loans and exited some additional OREO which was offset by securities gains. Core earnings for the quarter excluding these items was $74,000."
SouthCrest Financial Group Reports a Partial Preferred Stock Redemption
GlobeNewswire - Thu Apr 02, 4:12PM CDT
Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. announced today that the company has redeemed $8 million of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, formerly "TARP" shares. "We are excited to be able to redeem these shares and improve the potential value creation for our common shareholders in the future. This redemption will increase the earnings available to our common and common equivalent shareholders by about $60,000 per month through the reduction of cumulative dividends. This is another important and positive step in the history of SouthCrest Bank."
SouthCrest Financial Group Reports Preliminary 4Q14 Earnings
GlobeNewswire - Fri Jan 30, 4:12PM CST
Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (SCSGK) announced today that the company reported preliminary earnings for the fourth quarter of 2014.
SouthCrest Financial Group Pays Dividends on Former TARP Shares
GlobeNewswire - Fri Jan 02, 2:03PM CST
Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (OTCBB:SCSG) announced today that the company is paying dividends on its Series A and Series B Perpetual Cumulative Preferred Stock. These shares were issued under the TARP program and were auctioned by the Treasury in March 2013. With this payment the dividends will be current through the most recent scheduled payment date of November 15, 2014.
SouthCrest Financial Group Reports Preliminary 2Q14 Financial Results
GlobeNewswire - Wed Jul 30, 4:12PM CDT
Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (OTCBB:SCSG) announced today that the company reported preliminary results for the second quarter of 2014 and the completion of a significant post charter consolidation restructuring.
SouthCrest Financial Group Reports Preliminary 1Q15 Results
GlobeNewswire - Wed May 06, 10:13AM CDT
Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (SCSG
K), announced today that the company reported a preliminary net loss for the first quarter of 2015 of $375,000. "There were several moving pieces that impacted our first quarter results. We exited the non-single family residential portion of our loss share agreement that resulted in $279,000 of expense and we completed an additional personnel downsizing that resulted in severance expenses of nearly $170,000. We also completed a sale of nearly $4 million of non-performing TDR loans and exited some additional OREO which was offset by securities gains. Core earnings for the quarter excluding these items was $74,000." SouthCrest Financial Group Reports a Partial Preferred Stock Redemption
GlobeNewswire - Thu Apr 02, 4:12PM CDT
Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. announced today that the company has redeemed $8 million of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, formerly "TARP" shares. "We are excited to be able to redeem these shares and improve the potential value creation for our common shareholders in the future. This redemption will increase the earnings available to our common and common equivalent shareholders by about $60,000 per month through the reduction of cumulative dividends. This is another important and positive step in the history of SouthCrest Bank."
SouthCrest Financial Group Reports Preliminary 4Q14 Earnings
GlobeNewswire - Fri Jan 30, 4:12PM CST
Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (SCSG
K) announced today that the company reported preliminary earnings for the fourth quarter of 2014. SouthCrest Financial Group Pays Dividends on Former TARP Shares
GlobeNewswire - Fri Jan 02, 2:03PM CST
Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (OTCBB:SCSG) announced today that the company is paying dividends on its Series A and Series B Perpetual Cumulative Preferred Stock. These shares were issued under the TARP program and were auctioned by the Treasury in March 2013. With this payment the dividends will be current through the most recent scheduled payment date of November 15, 2014.
SouthCrest Financial Group Reports Preliminary 2Q14 Financial Results
GlobeNewswire - Wed Jul 30, 4:12PM CDT
Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (OTCBB:SCSG) announced today that the company reported preliminary results for the second quarter of 2014 and the completion of a significant post charter consolidation restructuring.
