Exhibit 99.2

                    Southeastern Bank Financial Corporation

Post Office Box 15367                                          3530 Wheeler Road
Augusta, Georgia 30919-5367                               Augusta, Georgia 30909
Fax 706-481 -9869                                                   706-738-6990
                                February 1,2010

Dear Shareholder:

     By all accounts, 2009 was a very difficult year for Southeastern Bank
Financial Corporation and both management and the Board of Directors are not
pleased with our overall financial results. While we are not pleased with this
performance, we readily acknowledge the past two years have presented the most
unprecedented challenges to the banking industry we have ever experienced.

     These challenging times have required difficult decisions. Since late third
quarter of 2008, the Company has been aggressively identifying and working to
resolve problem loans, particularly those outside of our core Augusta market. As
many other banks in Georgia continued to do the same thing, this has resulted in
a significant decline in real estate values in the metro Atlanta, Athens and
Savannah markets. During the fourth quarter, as the Company determined there was
very little stabilization in these real estate values and many values continued
to experience further deterioration, the Company adjusted its strategy and moved
to be even more aggressive in liquidating problem assets. This strategy reduced
the risk of further deterioration and converted nonearning assets into earning
assets. While this more aggressive strategy resulted in larger losses in the
short term, it strengthened the Company's position going forward.

     The Company removed $10.5 million in problem loans from our books and
liquidated approximately $9.0 million on Other Real Estate Owned in the fourth
quarter. As a result, the Company experienced a loss of $9.4 million for the
fourth quarter and a loss of $8.0 million for the year 2009.

     By aggressively writing down and liquidating these problem assets, we have
addressed the majority of our exposure to those markets and positioned the
Company to return to profitability in 2010. Also, as a result of these actions,
we have significantly improved the asset quality position of the Company. As
examples, our non-performing assets to total assets dropped to 2.65%, our
Allowance for Loan and Lease Losses increased to over $22.3 million and resulted
in a ratio of Loan Loss Reserve to total loans of 2.38%. These numbers compare
very favorably with our peer banks across the state.

     Notwithstanding all of this, the core earnings of the Company remain solid.
Additionally, we continue to maintain a strong capital base (classified as "Well
Capitalized by the FDIC), excellent liquidity and carry significant reserves for
loan losses.

     We feel these actions in 2009 will allow the Company to continue to operate
from a position of strength as we move through an economic environment that is
hopefully improving, but remains unsettled. We stand by our philosophy to manage
the Company for the long term and have the Company emerge from this economic
environment even stronger and more secure. We assure you that we have created an
aggressive yet prudent approach to return the Company to profitability in 2010
and in the process resume our historic performance.

     We remain grateful and appreciative of your support and confidence as a
shareholder.

     Sincerely,

/s/ Robert W. Pollard, Jr.                /s/ R. Daniel Blanton
Robert W. Pollard, Jr.                    R. Daniel Blanton
Chairman of the Board                     President and Chief Executive Officer