Southeastern Bank Financial Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $739,754 or $0.11 per diluted share, income before income taxes of $486,378, total interest income of $17,601,954, and net interest income of 10,820,479 compared to net income of $1,875,388 or $0.31 per diluted share, income before income taxes of $2,741,205, total interest income of $18,543,405, and net interest income of $9,741,705 a year ago. Return on average assets was 0.20% and return on average shareholders' equity was 2.84%. For the nine months, the company reported net income of $1,433,121 or $0.23 per diluted share, income before income taxes of $1,246,110, total interest income of $53,343,970, and net interest income of $31,627,608 compared to net income of $6,918,162 or $1.15 per diluted share, income before income taxes of $10,323,280, total interest income of $56,820,164, and net interest income of $30,049,514 a year ago.

Southeastern Bank Financial Corporation reported unaudited consolidated unaudited earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net income of $637,000 or $0.10 in diluted and basic earnings per share, compared to $2.4 million, or $0.40 in diluted and basic earnings per share, in the second quarter of 2008. Net interest income for the second quarter of 2009 totaled $10.7 million, a 6.6% increase from $10.0 million for the same period in 2008. Annualized return on average assets (ROA) was 0.18% for the second quarter of 2009, and annualized return on average shareholder's equity (ROE) was 2.56%. Income before income taxes was $698,000 against $3.6 million for the same period. Total interest income was $17.8 million against $18.5 million for the same period earlier. Net interest income after provision for loan losses was $5.6 million compared to $8.4 million a year ago. Net income for the six months ended June 30, 2009, totaled $693,000, compared to $5.0 million reported in the same period of 2008. Diluted and basic earnings per share for the first six months of 2009 were $0.11, compared to $0.84 per diluted share and $0.85 per basic share in the same period a year ago. Net interest income for the first six months of 2009 was $20.8 million, compared to $20.3 million in the first six months of 2008. Income before income taxes was $759,000 against $7.6 million for the same period. Total interest income was $35.7 million against $38.3 million for the same period earlier. Net interest income after provision for loan losses was $10.9 million compared to $17.4 million a year ago.

Southeastern Bank Financial Corporation announced that it has revised its financial statements for the first quarter ended March 31, 2009, which were previously released on April 24, 2009, to reflect the impact from the closure of Silverton Bank, N.A., by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation on May 1, 2009. The company's revision reflects a loss of $163,981 in investment securities, compared to a gain of $743,900 reported previously. This reduced net income to $56,124 from $685,759 as previously reported. Diluted earnings per share were revised to $0.01 compared to $0.11. Total interest income restated to $17,907,124. Net interest income restated to $10,098,916. Income before income taxes restated to $61,717.