PEACHTREE CITY, Ga., Aug. 19, 2013 (GLOBE NEWSWIRE) -- Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (OTCQB:SCSG) announced today that the company is now operating without any consent orders. The OCC terminated First National Bank of Polk County's Consent Order on July 8th, due to the accomplishments of President Laron Maloney and his team. Additionally, the FDIC terminated SouthCrest Bank's Consent Order on July 12th, due to Chief Risk Officer Becky Bell's efforts, which resulted in SouthCrest exiting the Consent Order in less than one year. "Laron and Becky are to be commended for their tremendous work and operational excellence," stated Mr. Maloy. "With the lifting of these consent orders, SouthCrest is now positioned to move forward. Honing our operational and asset quality areas has paved the way for us to completely focus on profitability. By leveraging our lending staff and in-house technology position for unprecedented growth, we can effectively provide our customers with the best community banking experience in the Southeast."
SouthCrest Financial Group, Inc. is a $560 million asset bank holding company headquartered in Peachtree City, Georgia. The company operates a 14 branch network throughout Georgia and Alabama through its four subsidiary banks: SouthCrest Bank, The First National Bank of Polk County, Peachtree Bank and Bank of Chickamauga. The banks provide retail and commercial banking services, mortgage banking, investment management, and online banking services.
For more information, contact: Andy Borrmann, 678-734-3505 SVP Finance, SouthCrest Financial Group
