Southcrest Fin Grp (SCSG) 7.5500 $SCSG
SouthCrest Financial Group Names Schmitt President and CEO
GlobeNewswire - Thu Aug 04, 1:08PM CDT
Joan Cravey, Chairwoman of SouthCrest Financial Group, Inc. (OTC:SCSG) announced today that the Company has named Brian D. Schmitt Chief Executive Officer and President of the Company and its subsidiary SouthCrest Bank N.A, effective August 8th. "The Board believes Brian fits well with what SouthCrest needs today - a growth oriented leader with a long history of successful banking in Atlanta and surrounding markets. We expect Brian will lead the Company well as it moves into the future." Schmitt will also be named a director of both the Bank and Holding Company as part of his appointment.
SouthCrest Financial Group Reports Preliminary 2Q16 Earnings
GlobeNewswire - Thu Jul 28, 8:49AM CDT
Andrew Borrmann, Chief Financial Officer of SouthCrest Financial Group, Inc. (PinkSheets:SCSG) announced today that the company reported preliminary net income of $11.4 million or $1.36/share for the second quarter ended June 30, 2016. "As we expected, we were able to reverse $10.6 million of the valuation allowance against our deferred tax asset during the second quarter. This has long been the focus of the Company and we are proud to clear another significant hurdle in the ongoing improvement of SouthCrest." Borrmann continued "The efforts of all our employees to achieve these goals cannot be over emphasized. We continue to improve our operating expenses and now expect the expense run rate to fall under $17.5 million/year during the next several months."
SouthCrest Financial Announces Management Change
GlobeNewswire - Fri Dec 18, 10:41AM CST
SouthCrest Financial Group, Inc. (OTCBB:SCSG) announces a mutual separation with Kenneth W. Maloy as Chief Executive Officer of the company and SouthCrest Bank, N.A. and his resignation as a member of the Boards of Directors effective Friday, December 18, 2015.
SouthCrest Financial Group Reports Preliminary 2Q15 Results
GlobeNewswire - Fri Jul 24, 4:26PM CDT
Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (OTCBB:SCSG) announced today that the company reported preliminary net income for the second quarter of 2015 of $479,000. "We are happy to announce earnings of nearly half a million dollars for the second quarter. While these are the best results the company has had on a core basis since prior to the financial crisis, we continue to strive for increased loan balances and cost efficiencies. We have cut non-interest expenses by over $3 million per year over the past six months, and expect to achieve similar additional savings over the next 12 months. Our focus has been on right-sizing our institution after consolidation last March. This has been a difficult but necessary process to achieve appropriate returns on equity and assets and long term shareholder value."
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 Names Schmitt President and CEO
GlobeNewswire - Thu Aug 04, 1:08PM CDT
Joan Cravey, Chairwoman of SouthCrest Financial Group, Inc. (OTC:SCSG) announced today that the Company has named Brian D. Schmitt Chief Executive Officer and President of the Company and its subsidiary SouthCrest Bank N.A, effective August 8th. "The Board believes Brian fits well with what SouthCrest needs today - a growth oriented leader with a long history of successful banking in Atlanta and surrounding markets. We expect Brian will lead the Company well as it moves into the future." Schmitt will also be named a director of both the Bank and Holding Company as part of his appointment.
SouthCrest Financial Group Reports Preliminary 2Q16 Earnings
GlobeNewswire - Thu Jul 28, 8:49AM CDT
Andrew Borrmann, Chief Financial Officer of SouthCrest Financial Group, Inc. (PinkSheets:SCSG) announced today that the company reported preliminary net income of $11.4 million or $1.36/share for the second quarter ended June 30, 2016. "As we expected, we were able to reverse $10.6 million of the valuation allowance against our deferred tax asset during the second quarter. This has long been the focus of the Company and we are proud to clear another significant hurdle in the ongoing improvement of SouthCrest." Borrmann continued "The efforts of all our employees to achieve these goals cannot be over emphasized. We continue to improve our operating expenses and now expect the expense run rate to fall under $17.5 million/year during the next several months."
SouthCrest Financial Announces Management Change
GlobeNewswire - Fri Dec 18, 10:41AM CST
SouthCrest Financial Group, Inc. (OTCBB:SCSG) announces a mutual separation with Kenneth W. Maloy as Chief Executive Officer of the company and SouthCrest Bank, N.A. and his resignation as a member of the Boards of Directors effective Friday, December 18, 2015.
SouthCrest Financial Group Reports Preliminary 2Q15 Results
GlobeNewswire - Fri Jul 24, 4:26PM CDT
Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (OTCBB:SCSG) announced today that the company reported preliminary net income for the second quarter of 2015 of $479,000. "We are happy to announce earnings of nearly half a million dollars for the second quarter. While these are the best results the company has had on a core basis since prior to the financial crisis, we continue to strive for increased loan balances and cost efficiencies. We have cut non-interest expenses by over $3 million per year over the past six months, and expect to achieve similar additional savings over the next 12 months. Our focus has been on right-sizing our institution after consolidation last March. This has been a difficult but necessary process to achieve appropriate returns on equity and assets and long term shareholder value."
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.
