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

Third Quarter and Nine-Month Income Highlights

Net income increased nearly 7% to $857 thousand in the third quarter of 2015, or $0.33 per diluted share, from $804 thousand, or $0.32 per diluted share, in the third quarter of 2014.

For the nine months ended September 30, 2015, net income was $2.5 million, or $0.99 per diluted share, a 12.9% increase from $2.2 million, or $0.88 per diluted share, for the same period in the prior year.

Net interest income grew 4.3% in the third quarter and 5.6% for the year-to-date period over the comparable periods of 2014, due primarily to loan growth.

Noninterest income declined to $1.0 million and $3.2 million for the third quarter and year-to-date period, respectively, over the comparable periods of 2014, due mostly to a decrease in income from mortgage banking services and gains on the sale of securities that benefitted the prior year.

Noninterest expense declined 4.2% and 2.8% in the third quarter and first nine months of 2015, respectively, due to lower personnel expenses.

“We achieved solid results in the third quarter as we continued to execute on our strategic priorities to grow our customer base and deepen existing customer relationships,” commended DeWitt Drew, President and CEO. “We continue to see strong loan growth in our local markets, while maintaining superior asset quality metrics. And, we are encouraged with the growth in our low cost deposit base which continues to support our lending activity.”

Dividends

In September 2015, the Corporation paid a quarterly cash dividend of $0.10 per common share. Southwest Georgia Financial Corporation