MACON, Ga., April 19 /PRNewswire-FirstCall/ -- Security Bank Corporation today announced that its board of directors has authorized an underwritten public offering of its common stock. Security Bank expects to raise between $35,000,000 and $40,000,000 in capital, which includes an over- allotment option, and will use the proceeds for general corporate purposes to support growth opportunities at its banking subsidiaries and to finance the cash portion of its recently announced acquisition of Homestead Bank. The exact terms of the offering, which will be made only by a final prospectus and accompanying prospectus supplement, have not yet been disclosed. Sandler O'Neill & Partners, L.P. will be acting as the sole manager for the public offering.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of such jurisdiction.
When available, copies of a written prospectus and the accompanying prospectus supplement for the offering may be obtained from the syndicate desk of Sandler O'Neill & Partners, L.P. at Third Avenue, 6th Floor, New York, NY 10022, Attention: Syndicate Department.
About Security Bank Corporation
Security Bank Corporation is a Georgia multi-bank holding company based in Macon, Bibb County, Georgia. The Company's wholly owned bank subsidiaries are Security Bank of Bibb County, Security Bank of Houston County, Security Bank of Jones County, Security Bank of North Metro and Neighbors Bank. The banks maintain 15 full service offices in Central Georgia (Macon, Perry, Warner Robins, and Gray), two full service offices in Coastal Georgia (Brunswick and St. Simons Island), one full service office in Griffin, Georgia and two full service offices in North Metro Atlanta (Woodstock and Alpharetta) as well as loan production offices in Hiram, Cumming and Oconee County, Georgia. In addition, Security Bank of Bibb County operates a wholly owned mortgage subsidiary, Fairfield Financial Services, Inc. Fairfield has offices in Macon, Warner Robins, Columbus, Richmond Hill, Gray, Pooler, Woodstock, St. Simons Island and Brunswick.
Security Bank Corporation will file a registration statement, including a proxy statement addressed to the shareholders of Homestead Bank and a prospectus for the Security Bank Corporation stock to be offered in the proposed merger with Homestead Bank, with the SEC. A definitive proxy statement will be sent to Homestead Bank's shareholders seeking their approval of the proposed merger. Investors and shareholders are urged to read the registration statement carefully when it becomes available, because it will contain important information about the proposed merger. Investors and shareholders may obtain a free copy of the registration statement, when it becomes available, and other documents filed with, or furnished to, the SEC by the Company at the SEC's website at http://www.sec.gov/. Copies of the registration statement and other documents filed by the Company with the SEC may also be obtained for free from the Company by directing a written request to Security Bank Corporation, 4219 Forsyth Road, Macon, Georgia 31210; attn: Chief Financial Officer. Additional details about the definitive agreement are posted at Security Bank's web site at http://www.securitybank.net/. Select Investor Info/Presentations.
Safe Harbor
This press release contains forward-looking statements as defined by federal securities laws. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections. Please refer to Security Bank Corporation's filings with the Securities and Exchange Commission for a summary of important factors that could affect Security Bank Corporation's forward-looking statements. Security Bank Corporation does not intend to and assumes no responsibility for updating or revising any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise.
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