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SouthCrest Financial sells former bank building

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SouthCrest Financial sells former bank building

Atlanta, Ga.-based SouthCrest Financial Group Inc. on May 21 reported the sale of its largest other real estate owned property, a former bank building.

The property was sold at a small gain this week, according to the release. The sale lowered the company's OREO balances to $1.0 million from $2.6 million in the first quarter.

In addition, SouthCrest Financial attained its recent goal of having 50% of its total loans and 30% of total deposits in the Atlanta metropolitan statistical area market.