AUGUSTA, GA -- Holding company also announces location of first South Carolina office, at 1001 Pine Log Road in Aiken Southeastern Bank Financial Corporation (BULLETIN BOARD: SBFC) , the holding company for Georgia Bank & Trust Company of Augusta, today announced the proposed local board of directors for Southern Bank & Trust, its planned South Carolina affiliate. In July, SBFC announced its intention to file an application with the Office of Thrift Supervision to open a full-service, federally chartered thrift in Aiken County, S.C. It expects to gain approval of the thrift charter in early 2006.
SBFC also announced that it has closed on the property for its first office in South Carolina, to be located at 1001 Pine Log Road in Aiken. The existing building on the site will be renovated to house the first branch of Southern Bank & Trust, as well as the executive offices for the thrift. Complete details on the Aiken office location will be released at a later time.
The proposed board of directors for Southern Bank & Trust includes: (proposed Chairman) R. Daniel Blanton, president and CEO of Southeastern Bank Financial Corp.; (proposed President & CEO) Francis "Frank" A. Townsend III; Raymond D. Brown, president and CEO of R.D. Brown Contractors Inc.; Steve E. Floyd, founding owner and president of Prism Inc., the parent company of Floyd & Green Jewelers; Patsy Lewellyn, professor of Accounting (retired) at the University of South Carolina - Aiken; Gary L. McElmurray, president of Gary L. McElmurray Construction and Southern Grading & Paving; Lionel V. Smith, founder of Lionel Smith Ltd.; Ronald L. Thigpen, executive vice president and chief operating officer of Southeastern Bank Financial Corp.; and Strom Thurmond Jr., a partner in the firm of Smith, Massey, Brodie & Thurmond, P.A.
"We are very pleased to have such a strong group of Aiken business and civic leaders in place to become the charter board of directors of Southern Bank & Trust," said R. Daniel Blanton, president and chief executive officer of Southeastern Bank Financial Corp. "When we announced our Aiken affiliate, we envisioned a community-oriented bank that can provide local decision making -- with a local board of directors and local shareholders -- and active community involvement. This esteemed local board is the first step toward realizing that vision."
"I am extremely excited to once again be able to lead a true community bank in Aiken," added Frank Townsend, president and CEO of Southern Bank & Trust. Before joining Southern Bank & Trust this year, Townsend was senior vice president and commercial sales manager for Regions Bank and its predecessor, Palmetto Federal Bank, in Aiken since 1994. "Working with board members who bring a wide range of business experience and community involvement -- and who obviously share my deep and abiding commitment to Aiken -- will position us well to serve the needs of the local community."
About Southeastern Bank Financial Corporation
Southeastern Bank Financial Corporation is the $825 million-asset bank holding company of Georgia Bank & Trust Company of Augusta, the largest locally owned and operated community bank in the Augusta metro market, with eight full-service offices. The company also has mortgage operations in Augusta and Savannah. The bank focuses primarily on real estate, commercial and consumer loans to individuals, small to medium-sized businesses and professionals, and also provides wealth management & trust services. The company's common stock is publicly traded on the OTC Bulletin Board under the symbol SBFC. For more information, please visit the company's Web site, http://www.georgiabankandtrust.com/.
Source: Southeastern Bank Financial Corporation
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CONTACT: R. Daniel Blanton, President and CEO of Southeastern Bank
Financial Corp., +1-706-481-1010; or John Marsh, President of Marsh
Communications LLC, +1-770-458-7553
Web site: http://www.georgiabankandtrust.com/
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