Southwest Georgia Financial Corporation, a full-service community bank holding company, today reported its results of operations for the second quarter ended June 30, 2015. 

Second Quarter and Six-Month Income Highlights:

• Net income increased 17% to $865 thousand in the second quarter of 2015, or $0.34 per diluted share, from $737 thousand, or $0.28 per diluted share, in the second quarter of 2014.
• For the six months ended June 30, 2015, net income was $1.7 million, or $0.66 per diluted share, a 16% increase from $1.4 million, or $0.56 per diluted share, for the same period in the prior year.
• Net interest income grew 5.4% and 6.3% in the second quarter and year-to-date period, respectively, over the comparable periods of 2014, due to increased revenue from higher loan volumes.
• Noninterest income decreased $201 thousand to $1.0 million for the second quarter of 2015, due to a $133 thousand decline in mortgage banking fees and decreased service charges on deposit accounts of $67 thousand.  Year-to-date noninterest income was down 14.8%, due to these decreases as well as less net gain on sale of securities that benefitted the prior year. 
• Prudent cost control drove noninterest expense down 3.8% and 2.1% for the second quarter and year-to-date period, respectively.

Click here to view the entire release, including financial tables.