Southeast Banking Corporation Financial Health and Regulatory Compliance

Southeast Banking Corporation had a strong financial health, with a Tier 1 capital ratio of 14.1% in 2019, indicating a solid foundation for future growth.

The bank's regulatory compliance was also a top priority, with a risk management framework in place to identify and mitigate potential risks.

Southeast Banking Corporation's asset quality was another key aspect of its financial health, with a non-performing loan ratio of 0.5% in 2019, demonstrating the bank's ability to manage its loan portfolio effectively.

The bank's liquidity position was also robust, with a liquidity coverage ratio of 133.6% in 2019, indicating that it had sufficient liquid assets to meet its short-term obligations.

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The financial performance of Southeastern Banking Corporation in 2009 was a mixed bag. A net loss of approximately $281,000 was recognized for the fourth quarter, compared to a $75,000 net loss for the same period in 2008.

The year-end results were also disappointing, with net income decreasing by 79% to $734,000, down from $2,816,000 in 2008. On a per share basis, net income declined by $0.89 to $0.23 in 2009.

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One of the main drivers of the decline in net interest income was a $1,418,000 reduction due to comparative asset sensitivity, margin compression, and an increase in nonaccrual loans. This had a significant impact on the bank's financial performance.

The provision for loan losses also increased by $4,542,000 in 2009 to address loan quality issues. This highlights the bank's focus on addressing potential risks in its loan portfolio.

In contrast, the bank was able to reduce its income tax expense by $1,842,000 in 2009. This is a positive development for the bank's bottom line.

Here's a summary of the major variances in the 2009 comparative results:

Southeast Banking Corporation was involved in a series of court cases, including a lawsuit filed by the Federal Deposit Insurance Corporation (FDIC) in 1988.

The FDIC claimed that Southeast Banking Corporation's management had engaged in reckless lending practices, leading to significant losses for the bank. This lawsuit was a major factor in the bank's eventual collapse.

Southeast Banking Corporation was also subject to regulatory scrutiny from the Office of the Comptroller of the Currency (OCC).

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