Profile: SouthCrest Financial Group Inc (SCSG.PK)
29 Nov 2013
SouthCrest Financial Group, Inc. (SouthCrest), incorporated on August 15, 1996, is a bank holding company. SouthCrest conducts its operations through its wholly owned subsidiaries (collectively the Banks), Bank of Upson (Upson), The First National Bank of Polk County (FNB Polk), Peachtree (Peachtree) and Bank of Chickamauga (Chickamauga). Bank of Upson operates a total of seven full-service banking locations and seventeen around the clock, automated teller machine (ATM) sites in Meriwether, Spalding, Fayette and Upson Counties in western Georgia. Upson offers a line of banking and financial products and services customary for service banks of similar size and character. These services include consumer loans, real estate loans, and commercial loans, as well as maintaining deposit accounts, such as checking accounts, money market accounts and a variety of certificates of deposit. Upson attracts its deposits and conducts its lending transactions from and within its primary service area encompassing Upson, Fayette, and Meriwether Counties Georgia.
FNB Polk operates a total of three full-service banking locations and three ATM sites in Polk County in northwest Georgia. FNB Polk is service commercial bank that provides community-banking services to the individuals and business in Polk County in northwest Georgia. FNB Polk offers services, such as making real estate, commercial and consumer loans, providing other banking services, such as traveler's checks, and maintaining deposit accounts, such as checking, money market, consumer certificates of deposit and individual retirement accounts (IRAs). Peachtree Bank operates a total of two full-service banking locations in central Alabama. Peachtree is a service community bank providing banking services, such services include making real estate, commercial and consumer loans, as well as providing deposit accounts, such as checking, money market, consumer certificates of deposit and IRA accounts in its primary trade area of Chilton County, Alabama. Bank of Chickamauga operates a total of two full-service banking locations in north Georgia.
The Banks offers a variety of deposit services, including non-interest bearing checking accounts, interest bearing checking accounts, money market accounts, savings accounts and time deposits of maturities ranging from three months to five years. The primary sources of deposits for the Banks are businesses and individuals in their primary market areas.
The Banks’ lending business consists primarily of making consumer loans to individuals, commercial loans to small and medium-sized businesses and professional organizations. The Bank offers secured real estate loans, including residential and commercial construction loans, and first and second mortgage loans for the acquisition and improvement of personal residences.
The Company provides investment services through its partnership with a service brokerage firm, and offering its customers brokerage services for stocks, bonds, mutual funds, IRA's, 529 plans, retirement plans, certificates of deposit and insurance products. The customer base for this service consists of individual investors, small businesses and non-profit organizations. This service is offered at the Bank of Upson through its division operating under the trade name SouthCrest Investments.
SouthCrest also operates service personal trust department through Bank of Upson. The trust department provides estate analysis, consultation, estate and agency accounts, as well as non-profit agency services. All trust-related, record-keeping, back-office, and securities servicing is provided through a third-party.
SouthCrest Financial Group Inc
Suite 130, 403 Westpark Court
PEACHTREE CITY GA 30269