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Southeastern Banking Corporation Reports First Quarter 2026 Results - Declares Quarterly Cash Dividend of $0.23 Per Share - Reports Results of Annual Shareholders’ Meeting
Southeastern Banking Corporation Reports First Quarter 2026 Results - Declares Quarterly Cash Dividend of $0.23 Per Share - Reports Results of Annual Shareholders’ Meeting.
About this update from Southeastern Banking Corp.
[{"type":"text","content":"Southeastern Banking Corporation Reports First Quarter 2026 Results\r\n\r\nDeclares Quarterly Cash Dividend\r\nof $0.23 Per Share\r\n\r\nReports Results of Annual Shareholders’ Meeting\r\n\r\n \r\nDarien, GA — May 21, 2026 – Southeastern Banking Corporation\r\n(OTCID:SEBC), the “Company”, the parent of Southeastern Bank, the “Bank”, today\r\nreported financial results for the first quarter of 2026. Financial highlights\r\nare shown below.\r\n\r\nThe Board of Directors declared a quarterly dividend of $0.23 per\r\nshare, to be paid June 11, 2026, to shareholders of record on June 4, 2026. Additionally,\r\nthe Company reported the outcome of the Annual Meeting of Shareholders held\r\nearlier today. With a quorum present in\r\nattendance or by proxy, all proposals recommended by the Board of Directors in\r\nthe Proxy Statement were approved as presented. \r\n\r\n“We\r\nare pleased to report another solid quarterly earnings performance. Our team\r\ncontinues to deliver outstanding results, and the strength of our balance sheet\r\nand stability in our core earnings gives us momentum for the coming quarters,”\r\nstated Donald “Jay” Torbert, Jr., President and Chief Executive Officer. “On a\r\nsomber note, subsequent to quarter end, a terrible wildfire torched well over a\r\nhundred homes, several small businesses and nearly 22,500 acres in Brantley\r\nCounty. We are eternally grateful to the firefighters that saved hundreds of\r\nother homes and businesses and got the fires contained before more damage was\r\ndone. Our Bank and Foundation have responded with providing resources, initially\r\ntowards supporting the firefighters and those directly impacted by evacuations with\r\nthe immediate needs of food, shelter and clothing. Now that the fire risk has\r\nbeen abated, our efforts will continue in support our neighbors there as they\r\nbegin the long recovery and rebuilding process.” \r\n \r\nEarnings \r\nNet income was $2.73 million (or $0.86 per share) for the first\r\nquarter of 2026, an increase compared to $2.31 million (or $0.73 per share) for\r\nthe fourth quarter of 2025 and $2.52 million (or $0.79 per share) for the first\r\nquarter of 2025. \r\n\r\n \r\n Net interest income declined $9 thousand\r\n (or 0.1%) from the previous quarter due to slower loan production but\r\n increased $469 thousand (or 7.1%) from...