SCMF Southern Community Financial Corporation featured news, full reports, and detailed charts
Southern Community Financial Corporation (SCMF) Wrap Up:
Southern Community Financial Corporation (“we” or the “Company”) is the holding company for Southern Community Bank and Trust (the “Bank”), a community bank with twenty-two banking offices operating in nine counties throughout North Carolina. The Bank commenced operations on November 18, 1996 and effective October 1, 2001 became a wholly-owned subsidiary of the newly formed holding company. Our banking offices are located in the Piedmont Triad area (including Winston-Salem (our headquarters), Greensboro, High Point and surrounding areas) Mooresville (the Charlotte area), Raleigh and Asheville. At December 31, 2007, the Company had total assets of $1.6 billion, net loans of $1.2 billion, deposits of $1.0 billion and shareholders’ equity of $142.3 million. The Company had net income of $7.6 million, $4.2 million and $7.7 million and diluted earnings per share of $0.43, $0.24 and $0.42 for the years ended December 31, 2007, 2006 and 2005, respectively. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f14%2f0001144204-08-015247.html#FIS_BUSINESS"www.smallenoughtocare.com
337 Employees
Founded in 1996
Southern Community Financial Corp. (SCMF:NASDAQ)
LAST $2.01 USD
CHANGE TODAY +0.01 0.50%
VOLUME 10.0K
As of 3:47 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Southern Community Financial Corp. (SCMF)
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OPEN
$2.00
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PREVIOUS CLOSE
$2.00
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DAY HIGH
$2.04
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DAY LOW
$2.00
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52 WEEK HIGH
01/9/09 - $4.94
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52 WEEK LOW
11/16/09 - $1.89
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MARKET CAP
33.7M
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AVERAGE VOLUME 3 mo
27.8K
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DILUTED EPS TTM
$-3.16
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SHARES OUTSTANDING
16.8M
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EX-DATE
03/24/09
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P/E TTM
NM
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DIVIDEND
--
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DIVIDEND YIELD
0.00%
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SCMF Top Compensated Officers
Mr. F. Scott Bauer
Chairman of the Board, Chief Executive Office...
Age: 54
Total Annual Compensation: $375.0K
Mr. Jeff T. Clark
President, Member of Loan Committee and Presi...
Age: 45
Total Annual Compensation: $275.0K
Mr. James Hastings
Chief Financial Officer, Principal Accounting...
Age: 56
Total Annual Compensation: $190.8K
Mr. Robert L. Davis Jr.
Executive Vice President
Age: 46
Total Annual Compensation: $218.3K
Mr. James Charles Monroe Jr.
Senior Vice President and Treasurer
Total Annual Compensation: $200.0K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Southern Community Financial Corp. (SCMF)
Southern Community Financial Corp. expected to Report Fiscal Year 2009 Results on January 18, 2010. This event was calculated by Capital IQ (Created on October 26, 2009).
10/26/2009
Southern Community Financial Corp. expected to Report Fiscal Year 2009 Results on January 18, 2010. This event was calculated by Capital IQ (Created on October 26, 2009).
Southern Community Financial Corp. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009
10/22/2009
Southern Community Financial Corp. reported un-audited earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported total Interest Income of $22,186,000 compared to $24,412,000 for the same period a year ago. Net Interest Income of $13,318,000 compared to $11,859,000 for the same period a year ago. Loss before taxes of $1,114,000 compared to profit before taxes of $2,382,000 for the same period a year ago. Net loss available to common shareholders of $1,052,000 compared to net profit available to common shareholders of $1,628,000 for the same period a year ago. Diluted loss per share of $0.06 compared to diluted earnings per share of $0.09 for the same period a year ago. Loss on assets of 0.10% compared to return on asset of 0.36% for the same period a year ago. Loss on equity of 1.28% compared to return on equity of 4.57% for the same period a year ago. For the nine months, the company reported total Interest Income of $67,381,000 compared to $72,464,000 for the same period a year ago. Net Interest Income of $38,356,000 compared to $34,641,000 for the same period a year ago. Loss before taxes of $55,184,000 compared to profit before taxes of $6,164,000 for the same period a year ago. Net loss available to common shareholders of $54,323,000 compared to net profit available to common shareholders of $4,296,000 for the same period a year ago. Diluted loss per share of $3.24 compared to diluted earnings per share of $0.25 for the same period a year ago.
Southern Community Financial Corp. Reports Return on Average Equity for the Nine Months Ended September 30, 2009; Announces Net Charge-Offs for the Third Quarter Ended September 30, 2009
10/22/2009
Southern Community Financial Corp. reported return on average equity for the nine months ended September 30, 2009. For the nine months, the company reported negative return on average assets of 3.95% against positive return on average assets of 0.33% last year. The company reported negative return on average equity of 45.08% against positive return on average equity of 4.02% last year. Tangible book value per common share as in September 30, 2009 was $5.49. Nonperforming loans increased to $22.7 million, or 1.82% of total loans, at September 30, 2009 from $17.9 million, or 1.43% of total loans, at June 30, 2009. Third quarter ended September 30, 2009 net charge-offs of $4.6 million, or 1.45% of average loans on an annualized basis, decreased from $5.9 million, or 1.85% of average loans annualized, in the second quarter 2009. Nonperforming assets increased to $40.8 million, or 2.36% of total assets, at September 30, 2009 from $35.7 million, or 2.07% of total assets, at June 30, 2009 due primarily to the $4.8 million increase in nonaccrual loans during the quarter. Nonperforming loans, nonperforming assets and net charge-off activity continue to be predominantly related to residential construction and development lending as 82% of nonperforming loans, 89% of nonperforming assets and 62% of net charge-offs originated from this segment of the loan portfolio.
SCMF Competitors
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Industry Analysis
| Valuation | SCMF | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 0.8x |
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| Price/Book | 0.3x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | NM | Not Meaningful |
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SCMF transactions
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More Recent News About Southern Community Financial Corporation
More news for SCMF
SOUTHERN COMMUNITY FINANCIAL CORP Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This Quarterly Report on Form 10-Q may contain certain forward-looking statements consisting of estimates with respect to our financial condition, results of operations and business that are subject to various factors which could cause actual results to differ materially from these estimates. These factors include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values and competition; changes in accounting principles, policies, or guidelines; changes in legislation or regulation; and other economic, competitive, governmental, regulatory, technological factors affecting our operations, pricing, products and services, and other factors discussed in our filings with the Securities and Exchange Commission. Summary of Second Quarter Total assets decreased $63.0 million or 3.5% during the second quarter of 2009 driven by decreases in loans of $46.3 million or 3.6%, federal funds sold of $16.4 million or 91.6% and investment securities of $12.1 million or 3.5% to end the period at $1.73 billion. Commercial mortgage loans, which amount to $428.5 million or 34.2% of gross loans at June 30, 2009, continue to comprise the largest segment of the loan portfolio and grew $265 thousand or 0.1% for the quarter. Residential mortgage loans experienced the most growth during the quarter increasing $1.9 million or 0.5% and comprised 31.3% of the total loan portfolio. Of the $1.9 million increase in the residential mortgage loan segment, financing for 1-4 family residences increased $2.2 million, financing of land and building lots decreased $155 thousand, and home equity loans decreased $159 thousand. Construction loans experienced the largest decrease for the quarter decreasing $24.6 million or 10.1% to $218.9 million or 17.5% of total gross loans as housing construction continued to contract during the econom...Click here to read the whole Article (external link)
SOUTHERN COMMUNITY FINANCIAL CORP Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statem
Show all filings for SOUTHERN COMMUNITY FINANCIAL CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for SOUTHERN COMMUNITY FINANCIAL CORP 23-Jul-2009Results of Operations and Financial Condition, Financial Statem Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All in...Click here to read the whole Article (external link)
Southern Community Financial Corporation Announces Results for the Second Quarter 2009
WINSTON-SALEM, NC--(Marketwire - 07/23/09) - Southern Community Financial Corporation (NASDAQ:SCMF - News) (NASDAQ:SCMFO - News), the holding company for Southern Community Bank and Trust, today reported second quarter 2009 results. Financial Highlights� -- Net loss of $3.3 million or $0.20 per share -- Net interest margin for second quarter 2009 increased four basis points to 3.05% from 3.01% in first quarter 2009 -- Provision for loan losses of $6.0 million, an increase of $2.0 million, compared to $4.0 million in first quarter 2009 -- Net charge-offs were 1.85% of average loans, up from 1.09% in the first quarter -- Allowance for loan losses of $19.4 million or 1.55% of loans at June 30, 2009 compared to $19.3 million or 1.49% of loans at March 31, 2009. Allowance coverage of nonperforming loans increased to 109% at June 30, 2009 compared to 95% at March 31, 2009. -- Nonperforming loans decreased to $17.9 million or 1.43% of loans at June 30, 2009 from $20.3 million or 1.56% of loans at March 31, 2009 -- Nonperforming assets increased to $35.7 million or 2.07% of total assets at June 30, 2009 from $31.0 million or 1.73% of total assets at March 31, 2009 -- Non-...Click here to read the whole Article (external link)
Southern Community Receives Local and International Honors
WINSTON-SALEM, NC--(Marketwire - 08/10/09) - Southern Community Bank and Trust (NASDAQ:SCMF - News) (NASDAQ:SCMFO - News) has recently received three awards in local and international competitions recognizing its commitment to providing customers with unparalleled levels of service and support. Southern Community was voted the "Best Bank in the Triad" by readers of the Winston-Salem Journal in the Readers' Choice 2009 Awards. Voters indicated that Southern Community is preferred to other banks serving the Triad area, citing the bank's commitment to providing the same services found at a larger banks, but with a focus on the type of personal attention customers find at home-town institutions.Southern Community received the Model Bank 2009 Award in the "Online Banking Experience" category from Celent, a global financial research and consulting firm, for its effective use of technology to enhance customers' online banking experience through the redesign of its website, www.smallenoughtocare.com.Celent ...Click here to read the whole Article (external link)
Southern Community Financial Corporation Announces Results for the Third Quarter 2009
WINSTON-SALEM, NC--(Marketwire - 10/22/09) - Southern Community Financial Corporation (NASDAQ:SCMF - News) (NASDAQ:SCMFO - News), the holding company for Southern Community Bank and Trust, today reported third quarter 2009 results. Financial Highlights� -- Net loss after preferred dividends was $1.1 million or $0.06 per share -- Net interest margin for third quarter 2009 increased 25 basis points to 3.30% from 3.05% in second quarter 2009. -- Provision for loan losses of $6.0 million consistent with second quarter provision level -- Net charge-offs were $4.6 million or 1.45% of average loans (annualized), down from $5.9 million or 1.85% of average loans (annualized) in the second quarter. -- Allowance for loan losses increased to $20.8 million or 1.67% of loans at September 30, 2009, compared to $19.4 million or 1.55% of loans at June 30, 2009. Allowance coverage of nonperforming loans decreased to 92% at September 30, 2009 compared to 109% at June 30, 2009. -- Nonperforming loans increased to $22.7 million or 1.82% of loans at September 30, 2009 from $17.9 million or 1.43% of loans at June 30, 2009 -- Nonperforming assets increased to $40.8 million or 2.36% of total...Click here to read the whole Article (external link)
North East And Mid Atlantic Banks: Looking For Value In Community Banks
67 WALL STREET, New York - October 9, 2009 - The Wall Street Transcript has just published its Northeast and Mid-Atlantic Regional Banks Report offering a timely review of the sector to serious investors and industry executives. This 121 page feature contains expert industry commentary through 21 in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online. Topics covered: Residential Mortgage Situation -- Regional Banks Mergers and Acquisitions Timing Strategy -- Commercial Mortgage Portfolio Decay -- Timing Of Commercial Mortgage Portfolio Bad Debt Write Offs-- FDIC Hit List For Bank Closings -- Mutual Holding Company Structure -- Interest Rate Scenarios -- Banking Pricing Power -- Expensive Bank Valuations -- Tangible Book As Guide For Bank Stock Pricing -- Distressed Sales Of Community and Regional Banks -- TARP Program -- Attitude Of Institutional Investors Towards Resurgence in Community Banking -- Unique Business Models -- Regional Bank Boards Looking For Exit Companies include: BB and T (BBT); Colonial (CNB); First Niagara (FNFG); PNC (PNC); National City (NCC-PA); Harleysville National (HNBC); Citizens First Bancorp (CTZN); Regions Financial (RF); Bank of America (BAC); SunTrust Banks (STI); Pinnacle Financial (PNFP); Northwest Bancorp Inc. (NWSB); Beneficial (BNCL); Investor Savings Bancorp (ISBC); Territorial Bancorp (TBNK); FNB Bancorp (FNBG.OB); National Penn (NPBC); Trustco Bank (TRST); KeyBank (KEY); M and T Bank (MTB); New York Community Bancorp (NYB); Bank of New York Mellon (BK);...Click here to read the whole Article (external link)
SOUTHERN COMMUNITY FINANCIAL CORP Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This Quarterly Report on Form 10-Q may contain certain forward-looking statements consisting of estimates with respect to our financial condition, results of operations and business that are subject to various factors which could cause actual results to differ materially from these estimates. These factors include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values and competition; changes in accounting principles, policies, or guidelines; changes in legislation or regulation; and other economic, competitive, governmental, regulatory, technological factors affecting our operations, pricing, products and services, and other factors discussed in our filings with the Securities and Exchange Commission. Summary of Third Quarter Total assets remained virtually unchanged from the second quarter decreasing $1.4 million or less than 1% during the third quarter. We experienced increased liquidity as federal funds sold increased $20.3 million while investment securities decreased $9.9 million or 3.0%, loans held for sale decreased $5.5 million or 68.3%, other loans decreased $3.0 million or less than 1% and cash decreased $4.3 million or 15.8%. The decrease in loans outstanding can be attributed to a continued slowdown in loan demand as some of our primary customers are deleveraging and taking a more conservative stance toward borrowing during these difficult economic times. Investment securities decreased $9.9 million or 3.0% due primarily to calls and sales of investment securities that were part of ongoing balance sheet management. Total deposits were $1.29 billion at quarter end, an increase of $40.6 million or 3.2% from the prior quarter-end. The increase in deposits was from non-maturity deposits which increased $72.5 million or 15.4% while time deposits decreased $34.8 million or 5.1%. The d...Click here to read the whole Article (external link)
SOUTHERN COMMUNITY FINANCIAL CORP Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statem
Show all filings for SOUTHERN COMMUNITY FINANCIAL CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for SOUTHERN COMMUNITY FINANCIAL CORP 22-Oct-2009Results of Operations and Financial Condition, Financial Statem Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All in...Click here to read the whole Article (external link)
SOUTHERN COMMUNITY FINANCIAL CORP Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue26,306 25,124 25,331 26,796 Cost of Revenue6,142 7,022 7,304 7,984 Gross Profit - 18,102 18,027 18,812 Operating ExpensesResearch Development - - - - Selling General and Administrative12,552 13,784 11,083 10,653 Non Recurring - - 49,501 - Others6,000 6,000 4,000 2,360 Total Operating Expenses - - - - Operating Income or Loss - (1,682)(46,557)5,799 Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes1,612 (1,682)(46,557)5,799 Interest Expense2,726 2,850 2,981 3,475 Income Before Tax(1,114)(4,532)(49,538)2,324 Income Tax Expense(683)(1,845)(214)766 Minority Interest - - - - Net Income From Continuing Ops(431)(2,687)(49,324)1,558 Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - Effect Of Accounting Changes - - ...Click here to read the whole Article (external link)
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