Exhibit 99.1
News Release
Southeastern Banking Corporation Reports Fourth Quarter and Year-End 2003 Earnings
DARIEN, Ga, February 25, 2004/ — Southeastern Banking Corporation (OTC Bulletin Board: SEBC) today announced increases in net income for the quarter and year ended December 31, 2003 compared to the corresponding periods last year.
| | • | Net income for the 2003 fourth quarter totaled $1,380,000 or $0.42 per share, up $146,000 or 12% from December 31, 2002. |
| | • | For the year, net income grew $442,000 or 9% to $5,201,000 in 2003 from $4,759,000 in 2002. On a per share basis, net income improved $0.14 to $1.56 in 2003 from $1.42 in 2002. |
Southeastern Banking Corporation (the Company), with assets of $374 million, is a financial services company with operations in southeast Georgia and northeast Florida. Southeastern Bank (SEB), the Company’s principal subsidiary, offers a full line of commercial and retail services to meet the financial needs of its customer base through its fifteen branch locations, loan production office in Brunswick, Georgia, and ATM network. Services offered include traditional deposit and credit services, long-term mortgage originations, and credit cards. SEB also offers 24-hour delivery channels including internet and telephone banking and provides insurance and investment brokerage services. The Company is headquartered in Darien, Georgia. More information on the Company and its subsidiaries can be obtained through SEB’s website atwww.southeasternbank.com or through periodic filings with the Securities & Exchange Commission atwww.sec.gov.
Media Contact: Alyson G. Beasley, Vice President, Southeastern Banking Corporation at 912.437.4141.
