CCF Holding Co has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. The par value of the company's common stock was $0.10 per share.

CCF Holding Co. reported earnings results for the year ended December 31, 2008. For the year, the company had a net loss of $3.2 million, or $0.89 per share as compared to the year ending December 31, 2007, which had net income of $4.1 million or $1.13 per share. Net operating income, net of loan loss provisions of $6.8 million, totaled $1.2 million or $0.33 per share for 2008. For 2007, net operating income, net of loan loss provision of $740,000, was $4.6 million, or $1.29 per share.

CCF Holding Company announced that it has notified NASDAQ of its intent to withdraw the Companys common stock from listing on The NASDAQ Stock Market LLC. The Company also announced that it intends to deregister the Companys common stock under Sections 12(b), 12(g) and 15(d) of the Securities Exchange Act of 1934. The action was taken to free up significant internal resources and streamline reporting obligations that will result in significant savings in legal, accounting, and administrative expenses and compliance related costs associated with Section 404 of the Sarbanes-Oxley Act. The Company anticipates the move will save approximately $175,000 in fiscal 2009 in legal, accounting, and administrative expenses related to reporting obligations required by the Exchange Act and compliance with Section 404 of the Sarbanes-Oxley Act. Similar expense savings are also expected in 2010 and beyond. As our management team and board examined the relative advantages and disadvantages of our status as a public company, it became apparent that the costs involved in maintaining that status outweighed the potential benefits to our shareholders, said David B. Turner, the Companys President and Chief Executive Officer. Our stock will continue to trade on the Over-the-Counter Bulletin Board and information about the Company will continue to be publicly available through our regulatory reports and to our shareholders through our website. The Company will file the applicable forms with the Securities and Exchange Commission (SEC) to delist and deregister its common stock under the Exchange Act no fewer than ten days after the date of its notice to NASDAQ. As a result, the Companys obligations to file annual, quarterly and current reports under the Exchange Act will be suspended ten days after such filing with the SEC and its proxy statement, Section 16 and other Section 12(g) filing responsibilities will terminate effective 90 days after the filing. However, the Company and its subsidiary, Heritage Bank, will continue to file publicly available reports as to their business, management and financial condition with the FDIC and other regulatory agencies. Additionally, the Company will provide copies of these reports to the Over-the-Counter Bulletin Board (OTCBB), which will allow the Companys common stock to continue to trade on the OTCBB. The Company has fewer than 300 shareholders of record, which has enabled the Company to take this action.