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Southeastern Banking Corporation Reports Fourth Quarter and Full Year 2025 Results - Declares Quarterly Cash Dividend of $0.23 Per Share
Southeastern Banking Corporation Reports Fourth Quarter and Full Year 2025 Results - Declares Quarterly Cash Dividend of $0.23 Per Share.
About this update from Southeastern Banking Corp.
[{"type":"text","content":"Southeastern Banking Corporation Reports Fourth Quarter and Full\r\nYear 2025 Results\r\n\r\n\r\nDeclares Quarterly Cash Dividend\r\nof $0.23 Per Share\r\n\r\n\r\n \r\nDarien, GA — February 19, 2026 – Southeastern Banking\r\nCorporation (OTCID:SEBC), the “Company”, the parent of Southeastern Bank, the\r\n“Bank”, today reported financial results for the fourth quarter and full year of\r\n2025. Financial highlights are shown below.\r\n\r\nAdditionally, the Board of Directors declared a quarterly\r\ndividend of $0.23 per share, to be paid March 12, 2026, to shareholders of\r\nrecord on March 5, 2026. This reflects an increase of one penny per share\r\ncompared to the most recent quarterly dividend. \r\n\r\nCommenting\r\non the Company’s results, Donald “Jay” Torbert, Jr., President and Chief\r\nExecutive Officer, said, “We closed 2025 with another solid quarter of core\r\noperating earnings and low asset quality concerns. We have been fortunate to\r\nmaintain our margins and believe we are well positioned to sustain these\r\nresults heading into 2026.” \r\n\r\nEarnings \r\nNet income was $2.31 million (or $0.73 per share) for the fourth\r\nquarter of 2025, compared to $2.61 million (or $0.82 per share) for the third\r\nquarter of 2025 and $2.59 million (or $0.81 per share) for the fourth quarter\r\nof 2024. \r\n \r\n We liquidated a portion of our bond\r\n portfolio during the fourth quarter. A loss of $288 thousand was realized\r\n on sales of investment securities with a total book value of $9.9 million\r\n and book yield of 3.12%, with funding alternatives providing for an\r\n estimated earn-back period of slightly over one year.\r\n Net interest income increased $24\r\n thousand (or 0.3%) from the previous quarter and $315 thousand (or 4.7%)\r\n from the fourth quarter of 2024 due to continued loan growth and stable\r\n funding costs. \r\n Provision for credit losses in the fourth\r\n quarter of 2025 increased in response to changing economic conditions and\r\n overall loan growth to $486 thousand from $220 thousand in the third\r\n quarter and no provision for the fourth quarter of 2024. \r\n \r\n\r\n\r\nFor the year ended December 31, 2025, we posted net income of\r\n$9.9 million, a decline of $758 thousand, or 7.1%, compared to 2024. \r\nCore operating earnings for the fourth quarter totaled $3.65\r\nmi...