latest news releases from the newsroom
Southeastern Bank Financial Corp.
Southeastern Bank Financial Corp. Declares Cash Dividend
AUGUSTA, Ga., Jan. 22, 2009 (GLOBE NEWSWIRE) -- The Board of Directors of Southeastern Bank Financial Corp. (OTCBB:SBFC), the holding company for Georgia Bank & Trust Company of Augusta and Southern Bank & Trust, on Jan. 21, 2009, declared a regular quarterly cash dividend of $0.13 per share of common stock payable on Feb. 18, 2009, to shareholders of record as of Feb. 5, 2009.
The Bank of Kentucky Financial Corp.
The Bank of Kentucky Financial Corporation Announces Fourth Quarter Earnings
CRESTVIEW HILLS, Ky., Jan. 22, 2009 (GLOBE NEWSWIRE) -- The Bank of Kentucky Financial Corporation (the "Company") (Nasdaq:BKYF), the holding company of the Bank of Kentucky, Inc. (the "Bank"), today reported its earnings for the fourth quarter and the twelve months ended December 31, 2008. The Company reported an increase in diluted net income per share of 5% for the year and a decrease of 7% for the fourth quarter of 2008, as compared to the same periods in 2007. The fourth quarter results included the impact of an additional $1,150,000 provision for loan losses as compared to the fourth quarter of 2007. Contributing to this increase in the provision for loan losses were higher levels of charge-offs in the fourth quarter of 2008, as compared to the same period in 2007, and management's continuing concerns over the deteriorating economic conditions. The increased provision for loan losses was partially offset by a $700,000 (7%) increase in net interest income. Contributing to the increase in net interest income was an 18 basis point improvement in the net interest margin.