Thursday, November 13, 2008

Southeastern Banking Corporation Announces Fourth Quarter 2008 Dividend

PRNewswire-FirstCall/ -- Southeastern Banking Corporation (OTC:SEBC) (BULLETIN BOARD: SEBC) announced today that its Board of Directors approved a 50% reduction in the quarterly dividend from $0.25 per share to $0.125 per share. The reduction reflects management's proactive management of capital through a period of economic uncertainty in the financial industry. The dividend reduction strengthens the Company's overall balance sheet by retaining not only capital but also cash. The announced dividend will be payable December 10 to shareholders of record at the close of business on November 26.

Southeastern Banking Corporation is the parent holding company of Southeastern Bank, headquartered in Darien, Georgia.

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