PEACHTREE CITY, Ga., Jan. 2, 2015 (GLOBE NEWSWIRE) -- Kenneth H. Maloy, President and CEO of SouthCrest Financial Group, Inc. (OTCBB:SCSG) announced today that the company is paying dividends on its Series A and Series B Perpetual Cumulative Preferred Stock. These shares were issued under the TARP program and were auctioned by the Treasury in March 2013. With this payment the dividends will be current through the most recent scheduled payment date of November 15, 2014.
"We are proud that the Company's performance has progressed to the point that we can make this payment and we expect to return to normal quarterly payments going forward," said Maloy. "We continue to progress with our cost savings programs, our loan growth remains on track and we believe that 2015 will be the best year for the Company in the past several."
SouthCrest Financial Group, Inc. is a $560 million asset bank holding company headquartered in Peachtree City, Georgia. The company operates a 12 branch network throughout Georgia and Alabama through its subsidiary bank, SouthCrest Bank, N.A. The bank provides retail and commercial banking services, mortgage banking, SBA lending, and online banking services.
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