Profile: SouthCrest Financial Group Inc (SCSG.PK)
20 Apr 2015
SouthCrest Financial Group, Inc., incorporated on August 15, 1996, is a bank holding company whose principal activity is the ownership and management of its wholly-owned subsidiary banks, SouthCrest Bank, formerly Bank of Upson, First National Bank of Polk County (FNB Polk), Peachtree Bank, and Bank of Chickamauga. SouthCrest is a commercial bank located in Thomaston, Upson County, Georgia operating branches located in Thomaston, Manchester, Luthersville, Johns Creek, and Tyrone, Georgia. SouthCrest provides a range of banking services. FNB Polk is a commercial bank located in Cedartown, Polk County, Georgia with two branches in Cedartown and one in Rockmart, Georgia. FNB Polk provides a range of banking services in its primary market area of Polk and the surrounding counties. Peachtree is a commercial bank located in Maplesville, Chilton County, Alabama and operates one branch in Maplesville and one in Clanton, Alabama. Chickamauga is a commercial bank located in Chickamauga, Walker County, Georgia where it operates two branches. On February 28, 2014 SouthCrest merged all of its subsidiary banks into FNB Polk, which changed its name to SouthCrest Bank, N.A.
The Company’s loan portfolio includes three segments : real estate, commercial, and consumer. The Company offers various types of real estate loan products. The real estate portfolio segment include construction and land development, 1-4 family first mortgages, commercial, and other. The commercial loan portfolio segment includes commercial, financial, and agricultural loans. These loans include loans to commercial customers for use in normal business operations to finance working capital needs, equipment purchases, or expansion projects. The consumer and other loan portfolio segment includes direct consumer installment loans, overdrafts and other revolving credit loans, educational loans, and municipal loans. As of December 31, 2013 the Company had $246.69 million net loan portfolio.
As of December 31, 2013, the Company’s total securities available for sale were $120.59 million. Its securities portfolio consists of United States Government-sponsored enterprises (GSEs), State and municipal securities, GSE residential mortgage-backed securities, Corporate bonds and Equity securities.
As of December 31, 2013, the Company’s total deposits were $484.30 million. The deposits consist of Noninterest bearing deposits, Interest checking, Money market, savings and certificates of deposits. The Company offers a range of deposit accounts such as savings, money market account, checking among others.
SouthCrest Financial Group Inc
108 S Church St
THOMASTON GA 30286-4104