SOUTHEASTERN BANKING CORPORATION Quarterly Financial Update | 4th Quarter 2021 |
The following table presents selected consolidated financial data for Southeastern Banking Corporation. This data is derived from quarterly unaudited financial statements and should be read in conjunction with the annual audited financial statements and related notes. The 2021 Annual Report will be available online at www.edocumentview.com/sebcin April 2022. Until then, the 2020 Annual Report is available.
As of and for the periods ended:
(Dollars in thousands except per share data)
Summary of Operations:
Interest income
Interest expense
Net interest income
Provision for (recovery of) loan losses
Other noninterest income
Other noninterest expense
Net income before taxes
Income taxes
Net income
Core Operating Earnings1:
Net income before taxes
- Paycheck Protection Program loan fees + Provision for (recovery of) loan losses
- Net gain on investments
- Net gain on sales of bank‐owned properties + Valuation write‐downs on bank‐owned
properties+ Net noninterest expense for bank‐owned properties
+ Donations to state programs included in noninterest expense that provide for a dollar‐ for‐dollar state income tax credit to reduce income taxes
- Core operating earnings1
Per Share Ratios:
Diluted earnings
Dividends
Book value at end of period
Profitability Ratios:
Return on average assets
Return on average equity
Net interest margin
Selected Quarter‐End Balances:
Total assets
Loans, net of unearned income Allowance for loan losses Investment securities, at amortized cost Deposits
Shareholders' equity Nonperforming assets:
Nonperforming loans Bank‐owned properties
Total nonperforming assets
Asset Quality Ratios:
Annualized net charge‐offs (recoveries) per quarter to quarterly average loans
Nonperforming assets to total assets Allowance for loan losses to net loans
Liquidity and Capital Ratios: Liquid assets to total assets Loans, net to total deposits
Average loans to average earning assets (quarterly) Tier 1 leverage capital ratio
Quarterly Results | ||||||||||
Dec. 31, | Sep. 30, | Jun. 30, | Mar. 31, | Dec. 31, | ||||||
2021 | 2021 | 2021 | 2021 | 2020 |
$ 4,573 | $ 4,665 | $ 4,356 | $ 4,345 | $ 4,731 |
96 | 96 | 96 | 103 | 119 |
4,477 | 4,569 | 4,260 | 4,242 | 4,612 |
‐ | ‐ | ‐ | (850) | 425 |
1,302 | 972 | 995 | 1,015 | 1,041 |
3,703 | 3,242 | 3,189 | 3,095 | 3,143 |
2,076 | 2,299 | 2,066 | 3,012 | 2,085 |
517 | 441 | 398 | 595 | 439 |
$ 1,559 | $ 1,858 | $ 1,668 | $ 2,417 | $ 1,646 |
$ 2,076 | $ 2,299 | $ 2,066 | $ 3,012 | $ 2,085 | |||||||||
238 | 518 | 237 | 359 | 636 | |||||||||
‐ | ‐ | ‐ | (850) | 425 | |||||||||
‐ | ‐ | ‐ | ‐ | 26 | |||||||||
335 | ‐ | 7 | 88 | 62 | |||||||||
90 | ‐ | ‐ | ‐ | 19 | |||||||||
4 | 15 | 17 | 14 | 8 | |||||||||
110 | ‐ | ‐ | ‐ | ‐ | |||||||||
$ 1,707 | $ 1,796 | $ 1,839 | $ 1,729 | $ 1,813 | |||||||||
$ 0.49 | $ 0.59 | $ 0.53 | $ 0.77 | $ 0.52 | |||||||||
1.16 | 0.16 | 0.16 | 0.15 | 0.15 | |||||||||
20.88 | 21.79 | 21.47 | 21.04 | 20.68 | |||||||||
1.00% | 1.24% | 1.15% | 1.80% | 1.27% | |||||||||
9.18% | 10.72% | 9.97% | 14.91% | 10.11% | |||||||||
3.06% | 3.25% | 3.15% | 3.38% | 3.85% | |||||||||
$642,105 | $600,303 | $592,209 | $570,198 | $542,981 | |||||||||
294,439 | 282,183 | 272,059 | 271,547 | 264,570 | |||||||||
7,288 | 7,305 | 7,314 | 7,301 | 6,683 | |||||||||
164,377 | 150,355 | 154,809 | 142,446 | 128,075 | |||||||||
575,028 | 530,497 | 523,644 | 502,417 | 476,725 | |||||||||
65,796 | 68,669 | 67,635 | 66,293 | 65,165 | |||||||||
$ | 864 | $ | 826 | $ | 804 | $ | 832 | $ | 1,031 | ||||
679 | 592 | 593 | 669 | 1,211 | |||||||||
$ | 1,543 | $ | 1,418 | $ | 1,397 | $ | 1,501 | $ | 2,242 | ||||
0.02% | 0.01% | ‐0.02% | ‐2.25% | ‐0.30% | |||||||||
0.24% | 0.24% | 0.24% | 0.26% | 0.41% | |||||||||
2.48% | 2.59% | 2.69% | 2.69% | 2.53% | |||||||||
25.27% | 24.77% | 24.60% | 23.98% | 23.69% | |||||||||
51.20% | 53.19% | 51.96% | 54.05% | 55.50% | |||||||||
49.51% | 49.23% | 49.73% | 51.62% | 56.04% | |||||||||
10.56% | 11.33% | 11.39% | 11.92% | 12.28% |
Annual Results
Dec. 31, Dec. 31,
2021 2020
$17,939 | $17,728 |
391 | 659 |
17,548 | 17,069 |
(850) | 1,175 |
4,284 | 3,641 |
13,229 | 12,412 |
9,453 | 7,123 |
1,951 | 1,411 |
$ 7,502 | $ 5,712 |
$ 9,453 | $ 7,123 |
1,352 | 888 |
(850) | 1,175 |
‐ | 27 |
430 | 110 |
90 82
50 65
110 | ‐ | ||
$ 7,071 | $ 7,420 | ||
$ 2.38 | $ 1.81 |
1.63 0.60
20.88 20.68
1.28% 1.17%
11.17% 9.05%
3.20% 3.77%
1 Core operating earnings is a non‐GAAP (generally accepted accounting principles) measure. This alternative earnings measure is presented to highlight pre‐tax earnings capacity exclusive of the outlined revenues and expenditures not considered as core to the Company's daily operations.
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Southeastern Banking Corporation published this content on 11 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2022 14:49:03 UTC.
