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Recent News

• Friday, April 30, 2021

  COLONY BANKCORP AND SOUTHCREST FINANCIAL GROUP TO COMBINE IN TRANSFORMATIONAL MERGER

  MERGER CREATES GEORGIA’S LARGEST COMMUNITY BANK AND AN ACQUIRER OF CHOICE FOR COMMUNITY BANKS IN GEORGIA AND THE SOUTHEAST FITZGERALD, GA and ATLANTA, GA (April 22, 2021) – Colony Bankcorp, Inc. (Nasdaq: CBAN) (“Colony” or “the Company”), the holding company for Colony Bank, and SouthCrest Financial Group, Inc. Read More

• Thursday, April 22, 2021

  SouthCrest Financial Group Reports Preliminary 1Q21 Earnings

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary earnings of $1.91 million or $0.25/share for the first quarter ended March 31, 2021. Excluding non-core items, primarily securities gains, core earnings were $1.34 million, or $0.17/share. In… Read More

• Monday, January 25, 2021

  SouthCrest Financial Group Reports Preliminary 4Q20 Earnings

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary earnings of $1.13 million or $0.14/share for the fourth quarter ended December 31, 2020.  Excluding non-core items, primarily deal related costs and severance, core earnings were $1.50 million,… Read More

• Thursday, December 17, 2020

  Message from the President and CEO: Brian D. Schmitt

  To our Customers and Friends, On behalf of everyone at SouthCrest Bank, our thoughts and prayers continue to go out to those impacted by the current health crisis.  Due to the resurgence of COVID -19 recently reported in Georgia by the CDC and other government entities, effective Monday, December 21,… Read More

• Thursday, December 17, 2020

  Veteran banker, Teresa A. Baker, joins SouthCrest Bank as Senior Vice President, Relationship Manager

  ATLANTA, GA – SouthCrest Bank announces the appointment of well-known and respected 15 year banking veteran Teresa Baker as Senior Vice President and Relationship Manager. Her appointment is another key step in SouthCrest Bank’s strategy to become a dominant private business bank for the Atlanta MSA. “I am so excited… Read More

• Wednesday, October 21, 2020

  SouthCrest Financial Group Reports Preliminary 3Q20 Earnings

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary earnings of $2.40 million or $0.31/share for the third quarter ended September 30, 2020. Excluding non-core items, primarily securities gains, core earnings were $1.49 million, or $0.19/share. Total… Read More

• Wednesday, September 16, 2020

  Veteran banker, Joshua D. Osborne, joins SouthCrest Bank as Senior Vice President, Relationship Manager

  ATLANTA, GA – SouthCrest Bank announces the appointment of well-known and respected 19 year banking veteran Joshua Osborne as Senior Vice President and Relationship Manager. His appointment is another key step in SouthCrest Bank’s strategy to become a dominant private business bank for the Atlanta MSA. “It is truly an… Read More

• Friday, September 11, 2020

  SouthCrest Bank Agrees to Strategic In Market Branch Acquisition

  Atlanta GA – SouthCrest Financial Group (SCSG:PK), the holding company for SouthCrest Bank, N.A., announced an agreement to acquire the Thomaston branch of Colony Bank. CEO Brian D. Schmitt stated “We are extremely excited to be adding to our position as the leading bank in Thomaston and Upson County. We… Read More

• Tuesday, July 21, 2020

  SouthCrest Financial Group Reports Preliminary 2Q20 Earnings

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary earnings of $1.63 million or $0.21/share for the second quarter ended June 30, 2020. Excluding non-core items, primarily securities gains, core earnings were $1.21 million, or $0.15/share. Total… Read More

• Thursday, July 2, 2020

  Message from the President and CEO: Brian D. Schmitt

  To our Customers and Friends, On behalf of everyone at SouthCrest Bank, our thoughts and prayers continue to go out to those impacted by the current health crisis. To all of our first responders and frontline workers, we send an extra thank you for your herculean efforts to protect… Read More

• Monday, May 11, 2020

  Message from the President and CEO: Brian Schmitt Our Commitment to Keeping You Informed

  To our Customers and Friends, On behalf of everyone at SouthCrest Bank, our thoughts and prayers continue to go out to those impacted by the current health crisis. To all of our first responders and frontline workers, we send an extra thank you for your herculean efforts to protect those… Read More

• Tuesday, April 21, 2020

  SouthCrest Financial Group Reports Preliminary 1Q20 Earnings

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary earnings of $1.04 million or $0.13/share for the first quarter ended March 31, 2020. Excluding non-core items, core earnings were $1.00 million, or $0.13/share. Total net income is… Read More

• Friday, April 10, 2020

  Paycheck Protection Program (PPP)

  outhCrest Bank is committed to ensuring our customers have access to the resources you need to get through these unprecedented times. The CARES Act Paycheck Protection Program (PPP) is now officially accepting applications for eligible businesses and details of the program can be found at the link below: Click … Read More

• Tuesday, March 17, 2020

  Message from the President and CEO: Brian Schmitt Our Commitment to Keeping You Informed

  To our Customers and Friends, On behalf of everyone at SouthCrest Bank, our thoughts and prayers go out to all those impacted by COVID-19. This includes those not only those diagnosed with the virus, but also their friends and family, and whose jobs and schools have been impacted. The health… Read More

• Friday, March 13, 2020

  Message from the President and CEO: Brian Schmitt Our Commitment to Keeping You Informed

  On behalf of SouthCrest Bank, we want you to know the health and safety of our employees, customers and the communities we serve are our highest priority. As such, the Bank has implemented business contingency procedures as a precautionary measure in light of recent news reports of the Coronavirus COVID-19… Read More

• Wednesday, January 22, 2020

  SouthCrest Financial Group Reports Preliminary 4Q19 Earnings

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary earnings of $1.32 million or $0.17/share for the fourth quarter ended December 31, 2019. Excluding non-core expenses, core earnings were $1.48 million, or $0.19/share. This compares favorably with… Read More

• Friday, October 25, 2019

  SouthCrest Financial Group, Inc. (SCSG) – BUY

  SCSG Beats Our Estimate, Enhances Buyback And Special Dividend To Utilize Excess Capital PORTFOLIO MANAGER BRIEF 3Q19 EPS: Reported $0.18, Core $0.17, Janney $0.14. Securities Gain $0.01 impact. ROA exceed 1.00%. Stronger Loan growth pushed both NIM-Net Interest Margin and top-line spread revenue as excess liquidity utilized. NIM rose 16bps… Read More

• Thursday, September 26, 2019

  SouthCrest Bank announces the addition of Dexter Lummus, Senior Vice President Commercial Lending

  Atlanta, GA (September 26, 2016) — Brian D. Schmitt, President and CEO of SouthCrest Bank, today announced that Dexter Lummus has joined SouthCrest Bank as Senior Vice President Commercial Lending. In this capacity, Lummus will be responsible for the origination, development, and growth of commercial loans throughout Atlanta. “We are… Read More

• Thursday, August 22, 2019

  SouthCrest Financial Group Announces New Chairman and Dividend Increase

  Atlanta GA – SouthCrest Financial Group (SCSG:PK), the holding company for SouthCrest Bank, N.A., announced the appointment of Harold Wyatt III as its new Chairman of the Board, replacing Joan Cravey who remains on the Board of Directors, and Tony Scavuzzo as its Vice-Chairman. CEO Brian D. Schmitt stated “First… Read More

• Tuesday, August 20, 2019

  SouthCrest Financial Group Announces Share Buyback

  SouthCrest Financial Group (SCSG:PK), the holding company for SouthCrest Bank, N.A., announced today that it has received approval for a program to repurchase up to $5 million in shares of SCSG common stock through June 30, 2020. CEO Brian D. Schmitt stated “We are always looking for the best uses… Read More

• Monday, May 6, 2019

  Veteran banker, Chris Pettis, joins SouthCrest Bank As Senior Vice President/Commercial Banker

  ATLANTA, GA – SouthCrest Bank announces the appointment of 20-year banking veteran Chris Pettis as Senior Vice President, Commercial Relationship Banker for Greater Atlanta. Pettis has previously held senior executive and commercial banking positions at both leading community and regional banks. His appointment is another major step in SouthCrest Bank’s… Read More

• Thursday, April 25, 2019

  SCSG—SouthCrest Financial Group EPS Meet Expectations, Margin Expands On Limited Deposit Cost Rise

  Reported 1Q19 EPS = $0.14 / FIG Est. = $0.14 / Consensus = $0.14 Steady Top-line revenues on 6 basis point NIM gain Company remains positioned for success in the Atlanta, GA MSA with significant bank turnover from recent and pending mergers Maintain EPS outlook for 2019 and 2020. Significant… Read More

• Wednesday, October 24, 2018

  SouthCrest Financial Group Reports Preliminary 3Q18 Earnings

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary earnings of $1.1MM or $0.13/share for the third quarter ended September 30, 2018. Excluding the impact of one-time items, net income would have been $1.2MM or $0.14/share. “In… Read More

• Monday, October 22, 2018

  SouthCrest Financial Group Exits FDIC Loss Share Agreement

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company has executed an agreement with the FDIC to exit the loss share agreement associated with a prior failed bank purchase. The financial impact to SouthCrest as a result of the… Read More

• Thursday, October 18, 2018

  SouthCrest Financial Group Quarterly Dividend

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Board of Directors has approved the payment of a regular quarterly dividend of $0.03/share. The dividend will be payable on November 15, 2018 to all shareholders of record on November 1,… Read More

• Tuesday, May 29, 2018

  SouthCrest Bank gives cash scholarships to local students Who complete Money Smart personal finance program

  MANCHESTER, GA – Two Meriwether County teenagers are $500 richer today after writing award-winning essays about their experience in the Money Smart personal finance study program provided by SouthCrest Bank. The students, Carnell Greenfield of Manchester High School and Markeshia Jackson of Greenville High School, were honored and received their… Read More

• Monday, May 21, 2018

  SouthCrest Financial Group Reports Significant OREO Sale

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK), is pleased to announce that the Company has closed a sale of its largest OREO property, a former bank building, at a small gain this week. This sale reduced its OREO balances to $1.0MM from… Read More

• Friday, April 27, 2018

  SouthCrest Financial Group Reports preliminary 1Q18 earnings

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary earnings of $0.8MM or $0.10/share for the first quarter ended March 31, 2018. Excluding the impact of one-time items, net income would have been $0.9MM or $0.11/share. “We… Read More

• Tuesday, April 17, 2018

  SouthCrest Financial Group Quarterly Dividend

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Board of Directors has approved the initiation of a regular quarterly dividend of $0.03/share. The dividend will be payable on May 15, 2018 to all shareholders of record on May 1,… Read More

• Wednesday, March 28, 2018

  Veteran banker, Scott Hudgins, joins SouthCrest As Senior Vice President/Commercial Banking Manager

  ATLANTA, GA – SouthCrest Bank announces the appointment of 30-year community banking and financial services veteran Scott Hudgins as Senior Vice President, Commercial Banking Manager for North Fulton and Forsyth Counties. Hudgins has previously held senior executive and director positions at four leading community banks. His appointment is another major… Read More

• Thursday, March 22, 2018

  SouthCrest Bank, N.A. announces opening of new Fayetteville Branch; offering full suite of banking services to area residents and businesses

  FAYETTEVILLE, GA., March 22, 2018 (GLOBE NEWSWIRE) — Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) and SouthCrest Bank, N.A., announces the opening of the company’s new branch in Fayetteville that will provide a full suite of state-of-the-art business and consumer banking services to the Fayette… Read More

• Monday, February 5, 2018

  Veteran banker Rhonda Grimes joins SouthCrest Bank As Vice President, Branch Manager in Fayetteville, GA

  ATLANTA, GA – SouthCrest Bank (SCSG:PK), announces the appointment of Rhonda Grimes as Vice President and Manager of the new SouthCrest Bank Branch in Fayetteville, GA, which is set to open March 12. The addition of Grimes to SouthCrest’s team of veteran bankers and establishment of the Fayetteville Branch are… Read More

• Tuesday, January 16, 2018

  SouthCrest Financial Group Announces Special Dividend

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today the issuance of a $0.60/share special dividend. “Everyone at SouthCrest would like to thank the shareholders who have supported the Company and this return of capital is indicative of the vast improvement in… Read More

• Thursday, December 14, 2017

  SouthCrest Financial Group Updates 4Q17 Expectations

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today updated expectations for the remainder of the year and the implications for 2018 results. “One of our challenges has been to reduce our real estate related costs at SouthCrest. We are happy to… Read More

• Wednesday, October 25, 2017

  SouthCrest Financial Group Reports preliminary 3Q17 earnings: Alabama Branch Sale Completed

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary net income of $1.87MM or $0.22/share for the third quarter ended June 30, 2017. Excluding the impact of the Alabama branch sale closing and OREO expenses due to… Read More

• Thursday, October 12, 2017

  20-year finance veteran Kristie McMahan Joins executive team at SouthCrest Bank

  ATLANTA, GA – SouthCrest Bank announces the appointment of 20-year financial services veteran Kristie W. McMahan as Vice President/Portfolio Manager on its team of experienced, professional bankers serving the core 13-county metro Atlanta region. McMahan, who has held senior positions at four regional banks, a major investment house and two… Read More

• Wednesday, October 4, 2017

  SouthCrest Bank names Michael Washburn Executive Vice President/Chief Credit Officer

  ATLANTA, GA – As it continues to add senior professionals to meet its growth objectives in the Atlanta regional market, SouthCrest Bank announces the appointment of well-known and respected banking industry veteran Michael R. Washburn as Executive Vice President/Chief Credit Officer. Washburn has three decades of executive leadership and board… Read More

• Monday, September 11, 2017

  SouthCrest Financial Group announces closing on sale of two Alabama branches to Guardian Credit Union

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK), announced today that the company has completed the sale of its two branches in Alabama and all related deposits and assets to Guardian Credit Union, a respected Alabama consumer financial services… Read More

• Wednesday, August 9, 2017

  Brian Fisher, well-known veteran banker, joins commercial lending team at SouthCrest Bank

  ATLANTA, GA – As SouthCrest Bank continues to execute its strategy to become a leading financial services provider in the Atlanta region, SouthCrest announces that well-known, respected professional banker Brian Fisher has been named Senior Vice President, Commercial Banker. “Having Brian Fisher join SouthCrest’s A-Team of financial professionals will add… Read More

• Thursday, July 20, 2017

  SouthCrest Financial Group Reports preliminary 2Q17 earnings: Net income over $1MM

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary net income of $1.02MM or $0.12/share for the second quarter ended June 30, 2017. “As planned, both SouthCrest Bank and SouthCrest Financial Group are now operating out of… Read More

• Thursday, June 29, 2017

  SouthCrest Bank announces appointment of Jane Prescott As Senior Vice President and Chief Human Resources Officer

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary net income of $1.02MM or $0.12/ share for the second quarter ended June 30, 2017. “As planned, both SouthCrest Bank and SouthCrest Financial Group are now operating out… Read More

• Tuesday, June 6, 2017

  SouthCrest Financial Group and SouthCrest Bank Announce opening of offices in Midtown Atlanta

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announces the official opening and relocation of the bank’s headquarters and corporate offices to the prestigious Federal Home Loan Bank Building at 1475 Peachtree Street in Midtown Atlanta. The announcement marks a major highpoint in… Read More

• Saturday, May 20, 2017

  SouthCrest Financial Group Reports Preliminary 1Q17 Earnings

  WOODSTOCK, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary net income of $930,000 or $0.11/share for the first quarter ended March 31, 2017. “I think the first quarter’s results are a good barometer of where the Company… Read More

• Wednesday, April 12, 2017

  SouthCrest Bank to retire remaining TARP shares

  April 12, 2017 ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Bank and SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the bank has received approval from the Federal Reserve to retire the remaining $5.555 million of Series A and Series B Preferred shares issued under the… Read More

• Monday, February 13, 2017

  SouthCrest Bank releases new, enhanced mobile banking app as mobile banking by customers increases dramatically

  ATLANTA, GA – Responding to trends showing an increase in mobile banking by its customers, SouthCrest Bank announces the launch of a new mobile banking application for smart phones. The app, available for iPhone, Android and iPad platforms, provides a secure portal with a broad range of features. Optimized for… Read More

• Monday, January 30, 2017

  SouthCrest Financial Group moves into Midtown Atlanta; Relocation is at core of CEO’s Atlanta regional growth focus

  ATLANTA, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK), announced today the company has leased offices in Midtown Atlanta and will relocate its corporate and banking headquarters there, pending regulatory approval. The moves are key elements in the company’s strategy to become a dominant… Read More

• Wednesday, January 25, 2017

  SouthCrest Financial Group Reports Preliminary 4Q16 Earnings

  WOODSTOCK, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the Company reported preliminary net income of $315,000 or $0.04/share for the fourth quarter ended Dec. 31, 2016. “We continue to push towards our long term profit goals after what I view… Read More

• Tuesday, January 17, 2017

  SouthCrest Bank receives WorldatWork Seal of Distinction; Earns national honors for commitment to employees

  WASHINGTON, Jan. 17, 2017 (GLOBE NEWSWIRE) — WorldatWork, a nonprofit HR association and compensation authority, is proud to announce that SouthCrest Financial Group Inc. (SCSG:PK) has earned WorldatWork’s Seal of Distinction for 2017. The seal is a unique mark of excellence designed to identify organizational success in total rewards effectiveness. Read More

• Thursday, December 15, 2016

  SouthCrest Bank to sell Northside building to State Farm Agent Trennis Dumas; All SouthCrest employees there will relocate to main Church Street site

  THOMASTON, GA – SouthCrest Bank has entered into an agreement to sell its Northside Branch property at 943 North Church St. in Thomaston to local State Farm agent Trennis Dumas. The bank will discontinue the drive through service at the Northside location as of the close of business on Friday,… Read More

• Thursday, December 1, 2016

  SouthCrest Financial Group names George T. Hovis to Board of Directors; Successful developer to help guide bank’s Atlanta growth strategy

  ATLANTA – SouthCrest Financial Group, Inc. (SCSG:PK), a $550 million asset bank holding company providing a century of service to businesses and consumers in the Southeast, announces the appointment of George T. Hovis to its Board of Directors. Brian D. Schmitt, President and Chief Executive Officer of SouthCrest Financial Group… Read More

• Wednesday, November 16, 2016

  SouthCrest Financial Group announces agreement To sell two Alabama branches to Guardian Credit Union

  WOODSTOCK, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK), announced today that the company has reached agreement for the sale of its two branches in Alabama and all related deposits and assets to Guardian Credit Union, a respected Alabama consumer financial services cooperative. The… Read More

• Tuesday, November 8, 2016

  As new technology makes online banking more convenient, SouthCrest Bank plans consolidation of College Street drive-through

  CEDARTOWN, GA – Acknowledging a national trend showing more people are finding it increasingly convenient to bank online at home or with their smart phones, SouthCrest Bank announces plans to consolidate its South College Street drive through service into its full service branch bank’s drive-through on North Main Street. The… Read More

• Friday, October 28, 2016

  SouthCrest Financial Group Reports Preliminary 3Q16 Earnings

  WOODSTOCK, GA – Brian D. Schmitt, Chief Executive Officer of SouthCrest Financial Group, Inc. (SCSG:PK) announced today that the company reported preliminary net income of $680,000 or $0.08/share for the third quarter ended September 30, 2016. “I am excited to report my first quarter of earnings with SouthCrest Bank as… Read More

• Sunday, October 16, 2016

  SouthCrest Bank Names Daniel G. Broos to Board of Directors as SouthCrest Sets Focus on Growing in Atlanta Regional Marke

  ATLANTA, GA (PRWEB) October 26, 2016 SouthCrest Financial Group, Inc. (SCSG:PK), a $550 million asset bank holding company providing more than a century of service to businesses and consumers in the Southeast, announces the appointment of Daniel G. Broos to its Board of Directors. Brian D. Schmitt, President and Chief… Read More

• Thursday, August 4, 2016

  SouthCrest Financial Group Names Schmitt President and CEO

  WOODSTOCK, Ga., Aug. 04, 2016 (GLOBE NEWSWIRE) — Joan Cravey, Chairwoman of SouthCrest Financial Group, Inc. (OTC:SCSG) announced today that the Company has named Brian D. Schmitt Chief Executive Officer and President of the Company and its subsidiary SouthCrest Bank N.A, effective August 8th. “The Board believes Brian fits well… Read More