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 provider of commercial banking services in the Atlanta region.
Plans call for relocation to the Federal Home Loan Bank of Atlanta building at 1475 Peachtree St. NE 30309 from the bank’s headquarters in Tyrone, GA, and the corporate headquarters in Woodstock, GA, following regulatory approval and completion of construction.
The moves follow the announcements by Schmitt last fall of the sale of SouthCrest Financial Group’s two bank branches in Alabama and the appointments of leading Atlanta executives Daniel G. Broos and George T. Hovis to its board of directors.
“These strategic initiatives and others we are planning are designed specifically to develop our capabilities and bench strengths for solid, sustained growth in the Atlanta metro area,” commented Schmitt, a veteran banker known for planning and executing successful growth initiatives.
“Our highly visible presence and prime location in the Federal Home Loan Bank building at the busy intersection of Peachtree and West Peachtree Streets not only provides us with an immense marketing benefit, but sends a clear message that SouthCrest wants to be top-of -mind when businesses need a trusted banking partner with more than a century of service under its belt.”
SouthCrest Financial Group, Inc. is a $550 million asset bank holding company headquartered in Woodstock, Ga. The company operates a 12 branch network throughout Georgia and Alabama through its subsidiary bank, SouthCrest Bank, N.A. The bank provides a full suite of retail and commercial banking services, and online banking services.
FORWARD LOOKING STATEMENTS
This presentation may contain certain “forward-looking statements” that are subject to risks, uncertainties, and other factors that could cause actual results and shareholder values to differ materially from those projected. Factors that could cause or contribute to such differences include economic conditions, government regulation and legislation, changes in interest rates, credit quality, competition, and other risk factors. For more information on SouthCrest Financial Group, please contact Andy Borrmann, Chief Financial Officer, at 678-734-3505.
Andrew Bowen, APR
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