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Atlantic Southern posts record results

POSTED: May 12, 2007 5:03 a.m.

Atlantic Southern Financial Group, Inc. announced record financial results for the first quarter of 2007. Compared with the first quarter of 2006, the company achieved a 78 percent increase in net earnings and a 22 percent increase in diluted earnings per share.    

For the first quarter of 2007, net earnings increased to $1,883,000 compared to $1,060,000 a year earlier.  Diluted earnings per share increased to $0.44 from $0.36 a year ago.  

Mark Stevens, president and chief executive officer, said, “The first quarter produced record earnings and growth. Our corporate strategy of balancing earnings and growth continues to be successful. Our highly motivated management team and employees are responsible for our success and remain committed to our ‘Core of Excellence’ philosophy throughout our organization.”

With headquarters in Macon, Atlantic Southern Financial Group, Inc., operates eight banking locations in the middle Georgia markets of Macon and Warner Robins and six locations in Savannah, Darien, Brunswick and St. Simons Island and a loan production office in Valdosta.  The company specializes in commercial real estate and small business lending.

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