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Friday November 24th, 2017 5:09PM

Southwest Georgia Financial Corporation Reports 2017 Third Quarter Results

By The Associated Press

MOULTRIE, Ga.--(BUSINESS WIRE)--Oct 24, 2017--Southwest Georgia Financial Corporation (the “Company”) (NYSE American: SGB), a full-service community bank holding company, today reported results of operations for the third quarter and nine months ended September 30, 2017. Comparisons are to prior-year periods unless otherwise noted.

“On a year-to-date basis we continue to trend higher than last year’s record earnings per share pace, despite the significant expenses incurred to migrate to our new core processing provider and our continued expansion into the Tifton market,” commented DeWitt Drew, President and CEO. “We will continue to invest in technology and systems to better serve our customer base and are looking forward to completing construction on our Tifton branch in early 2018. While overall credit quality is still solid, that is an area we will continue to focus on as we grow in both our legacy and new markets.”

Income Highlights

Balance Sheet Trends

Capital Management

Webcast and Conference Call

The Company will host a conference call and webcast on Tuesday, October 24, 2017 at 1:00 p.m. ET. Management will review the financial and operating results for the third quarter of 2017, as well as the Company’s strategy and outlook. A question and answer session will follow the formal discussion.

The conference call can be accessed by calling (201) 689-8263. Alternatively, the webcast can be monitored at www.sgfc.com.

A telephonic replay will be available from 4:00 p.m. ET on the day of the teleconference until Tuesday, October 31, 2017. To listen to the archived call, dial (412) 317-6671 and enter conference ID number 13671694, or access the webcast replay at www.sgfc.com/investorrelations.cfm, where a transcript will be posted once available.

About Southwest Georgia Financial Corporation

Southwest Georgia Financial Corporation is a state-chartered bank holding company with approximately $477 million in assets headquartered in Moultrie, Georgia. Its primary subsidiary, Southwest Georgia Bank, offers comprehensive financial services to consumer, business, and government customers. The current banking facilities include the main office located in Colquitt County, branch offices located in Baker County, Worth County and Lowndes County, and a loan production office located in Tift County. In addition to conventional banking services, the Company provides investment planning and management, trust management, and commercial and individual insurance products. Insurance products and advice are provided by Southwest Georgia Insurance Services, which is located in Colquitt County. The Company routinely posts news and other important information on its website.

More information on Southwest Georgia Financial Corporation and Southwest Georgia Bank can be found at: www.sgfc.com.

SAFE HARBOR STATEMENT

This news release contains forward-looking statements, as defined by federal securities laws, including statements about the Company’s financial outlook. These statements are based on current expectations and are provided to assist in the understanding of future financial performance. Such performance involves risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements. Important factors that could cause actual results to differ materially from those contemplated today include a change in the Company’s capital structure, new or expanded regulatory requirements, the success of the Company’s growth strategy, customer preferences, the interest rate environment and other factors described in the Company’s filings with the Securities and Exchange Commission, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q under the sections entitled “Forward-Looking Statements” and “Risk Factors”. The Company undertakes no obligation to update any forward-looking statements as a result of new information, future events or otherwise, except as otherwise required by law.

Financial tables follow.

This article has been truncated. You can see the rest of this article by visiting http://www.businesswire.com/news/home/20171024005209/en.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Online - Georgia News, AP Business Wire - Georgia, AP Business - Industries, AP Business - Financial Services
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