353386--4/23/2010--SOUTHEASTERN_BANKING

related topics

{loan, real, estate}

{financial, litigation, operation}

{stock, price, share}

{condition, economic, financial}

{loss, insurance, financial}

{competitive, industry, competition}

{regulation, change, law}

{system, service, information}

{stock, price, operating}

{product, market, service}

{control, financial, internal}

{personnel, key, retain}

{cost, regulation, environmental}

Difficult market conditions have adversely affected our industry and business. Deteriorating credit quality, particularly with respect to real estate loans, has adversely impacted us and may continue to adversely impact us, leading to higher charge-offs and/or an increase in our provision for loan losses. If our allowance for loan losses is not sufficient to cover actual loan losses, or if credit delinquencies increase, our earnings could decline significantly. We are subject to extensive regulation that could limit or restrict our activities and adversely affect our earnings. Our net interest income could be negatively affected by the lower level of short-term interest rates, recent developments in the credit and real estate markets, and competition in our primary market area. We face strong competition from other financial service providers. If problem asset levels and real estate concentrations are not reduced, we could face formal regulatory action and loss of liquidity facilities. Our financial instruments carried at fair value expose us to certain market risks. Departures of our key personnel may harm our ability to operate successfully. Diminished access to alternative sources of liquidity could adversely affect our net income, net interest margin, and our overall liquidity. Fluctuations in our expenses and other costs may hurt our financial results. Higher FDIC deposit insurance premiums and assessments could adversely affect our financial condition. We must respond to rapid technological and other changes that may be more difficult or expensive than anticipated. We rely on other companies to provide key components of our business infrastructure. We rely on our systems, employees, and certain counterparties, and certain failures could materially and adversely affect our operations. We depend on the accuracy and completeness of information about customers and counterparties. The soundness of other financial institutions could adversely affect us. Hurricanes and other natural disasters may adversely affect our loan portfolio and operations and increase the cost of doing business. Negative public opinion could damage our reputation and adversely impact business and revenues. Changes in accounting policies or standards could materially impact our financial statements. Our disclosure controls and procedures may not prevent or detect all errors or acts of fraud. The costs and effects of litigation, investigations, or similar matters, or adverse facts and developments related thereto, could materially affect our business, operating results, and financial condition. Our directors and executive officers own a significant portion of our common stock. The trading volume in our common stock has been low, and the sale of substantial amounts of our common stock in the public market could depress the price of our common stock. Our stock price can be volatile. Our ability to pay dividends is limited, and we may be unable to pay future dividends.

Full 10-K form ▸

353386--4/23/2010--SOUTHEASTERN_BANKING_CORP