MACON, Ga., July 10 /PRNewswire-FirstCall/ -- Security Bank Corporation announced today that it would release second quarter 2006 results after the market close on Wednesday, July 26, 2006. Security Bank Corporation management will host a conference call to discuss these results at 8:30 AM EDT on Thursday, July 27, 2006. This call is open to all interested parties. From locations within the United States, the call in number is 877- 407-8035 (201-689-8035 from outside the United States). Please call in 10 minutes prior to the beginning of the conference call and ask for the Security Bank Corporation conference call.
Security Bank Corporation is re-affirming its previously issued guidance of $1.42 to $1.47 per diluted share for 2006 compared with $1.27 per diluted share reported in 2005. Commenting on the activities of the first six months of 2006, Rett Walker, President and Chief Executive Officer of Security Bank stated, "We are pleased with the performance of our company at this point in 2006 and I want to thank all of our employees for their hard work. I also want to thank our customers and our shareholders for the confidence they place in the Security Bank management team. So far in 2006, we have completed and integrated two acquisitions, Rivoli Bancorp, Inc. and Neighbors Bancshares, Inc. We have also announced the acquisition of Homestead Bank, which we expect to be completed in the third quarter of 2006. Finally, we recently completed our successful common stock offering where we raised approximately $35 million of additional capital." Mr. Walker continued, "Even though we have had a very busy 2006, we are pleased that we continue to execute on our business plan. As a result, we are comfortable with current analyst estimates of earnings per diluted share of $1.60 to $1.68 for 2007."
Based in Macon, Georgia, Security Bank Corporation is a multi-bank holding company with assets of $1.9 billion at March 31, 2006. Security Bank Corporation operates 5 community banks with banking offices located throughout middle Georgia, coastal Georgia and north metro Atlanta. In addition, Security Bank Corporation operates a mortgage subsidiary, Fairfield Financial Services, Inc., with offices throughout Georgia.
This press release contains forward-looking statements as defined by federal securities laws. Statements contained in this press release which are not historical facts are forward looking statements. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management, including the earnings per share projections. Actual results could differ materially from current projections and expectations for many reasons, including without limitation, changing events and trends that have influenced Security Bank Corporation's assumptions, but are beyond Security Bank Corporation's control. Forward looking statements are necessarily estimates reflecting the best judgment of Security Bank's senior management based upon current information and involve a number of risks and uncertainties. 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 financial results and operations and its forward looking statements. Security Bank does not intend to and assumes no responsibility, except as required by law, for updating or revising any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise.
