In making the announcement of third quarter earnings, Lee Stewart, president and CEO, said, “I am extremely proud of the way we have controlled expenses and managed through the problem loans that plagued us in 2007 and 2008. The entire staff and particularly our lenders have shown an admirable ability to work through these tough economic times.
“Our capital ratios are very strong and profitability is improving primarily because of the strength of the loan loss reserve and the improvement in our asset quality,” Stewart said. “These trends are counter to the industry as a whole as the overall economy is painfully slow to show much improvement.
“We are proud to be your locally owned community bank and financial partner. I thank our shareholders and customers for your support and thank our employees for the Expect A Difference service they provide daily.”
Southern Heritage Bank opened for business in April 1999, and operates three full-service banking offices in Bradley County. For more information about Southern Heritage Bank, visit the website at www.southernheritagebank.com.