| Southern Community Financial Corporation ("we" or the "Company") is the holding
company for Southern Community Bank and Trust (the "Bank"), a community bank
with twenty-two banking offices operating in nine counties throughout North
Carolina. The Bank commenced operations on November 18, 1996 and effective
October 1, 2001 became a wholly-owned subsidiary of the newly formed holding
company. Our banking offices are located in the Piedmont Triad area (including
Winston-Salem (our headquarters), Greensboro, High Point and surrounding areas)
Mooresville (the Charlotte area), Raleigh and Asheville.
At December 31, 2007, the Company had total assets of $1.6 billion, net loans of
$1.2 billion, deposits of $1.0 billion and shareholders` equity of $142.3
million. The Company had net income of $7.6 million, $4.2 million and $7.7
million and diluted earnings per share of $0.43, $0.24 and $0.42 for the years
ended December 31, 2007, 2006 and 2005, respectively. |
