SouthCrest Financial Group Exits FDIC Loss Share Agreement

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ATLANTA, Oct. 22, 2018 (GLOBE NEWSWIRE) — Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company has executed an agreement with the FDIC to exit the loss share agreement associated with a prior failed bank purchase.  The financial impact to SouthCrest as a result of the termination was marginally negative, and was accrued for in the third quarter.  This was the only loss sharing agreement that SouthCrest entered into during the recent cycle.

  <p align="center"><strong>ABOUT SOUTHCREST</strong></p>      <p align="justify">SouthCrest Financial Group, Inc. is a bank holding company with over half a billion dollars in assets, headquartered in Atlanta, GA.&nbsp; The company operates a 9 branch network throughout Georgia through its subsidiary bank, SouthCrest Bank, N.A.&nbsp; The bank provides a full suite of retail, private, entrepreneurial, high-net-worth and commercial banking services, and online banking services.&nbsp;</p>      <p align="center"><strong>FORWARD LOOKING STATEMENTS</strong></p>      <p align="justify">This presentation may contain certain &ldquo;forward-looking statements&rdquo; that are subject to risks, uncertainties, and other factors that could cause actual results and shareholder values to differ materially from those projected.&nbsp; 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.</p>   <table class="gnw_table_border_collapse hugin"><tr><td class="gnw_vertical_align_bottom hugin">Contact:</td><td class="gnw_vertical_align_bottom hugin">Andrew Bowen, APR</td><td class="gnw_vertical_align_bottom hugin">&nbsp;</td></tr><tr><td class="gnw_vertical_align_bottom hugin">&nbsp;</td><td class="gnw_vertical_align_bottom hugin"><a href="mailto:[email protected]" rel="nofollow" target="_blank" title="[email protected]">[email protected]</a></td><td class="gnw_vertical_align_bottom hugin">&nbsp;</td></tr><tr><td class="gnw_vertical_align_bottom hugin">&nbsp;</td><td class="gnw_vertical_align_bottom hugin">404-822-3309</td><td class="gnw_vertical_align_bottom hugin">&nbsp;</td></tr><tr><td class="gnw_vertical_align_bottom hugin">&nbsp;</td><td class="gnw_vertical_align_bottom hugin">&nbsp;</td><td class="gnw_vertical_align_bottom hugin">&nbsp;</td></tr><tr><td class="gnw_vertical_align_bottom hugin">&nbsp;</td><td class="gnw_vertical_align_bottom hugin">Andy Borrmann</td><td class="gnw_vertical_align_bottom hugin">&nbsp;</td></tr><tr><td class="gnw_vertical_align_bottom hugin">&nbsp;</td><td class="gnw_vertical_align_bottom hugin">Chief Financial Officer</td><td class="gnw_vertical_align_bottom hugin">&nbsp;</td></tr><tr><td class="gnw_vertical_align_bottom hugin">&nbsp;</td><td class="gnw_vertical_align_bottom hugin">678.734.3505</td><td class="gnw_vertical_align_bottom hugin">&nbsp;</td></tr></table>
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