Heritage Southeast Bancorp Inc. (fka HSBI)

[Renee]

HSBI: Merged with The First Bancshares, Inc.; shareholders will receive 0.965 shares of FBMS for every 1 share of HSBI held. Please refer to company notice for additional information.

FINRA deleted symbol:

https://otce.finra.org/otce/dailyList?viewType=Deletions

[Enterprising Investor]

Heritage Southeast Bancorporation, Inc. Enters into Agreement to be Acquired by VyStar Credit Union (3/31/21)

ATLANTA, March 31, 2021 (GLOBE NEWSWIRE) -- Heritage Southeast Bancorporation, Inc. (“HSBI”) announced today that HSBI and Heritage Southeast Bank have signed a definitive purchase and assumption agreement whereby VyStar Credit Union (“VyStar”) will acquire the assets and assume the liabilities of Heritage Southeast Bank in an all-cash transaction. Following the completion of this transaction, HSBI and Heritage Southeast Bank will wind down their operations and their remaining assets, after all obligations are settled, will be distributed to HSBI stockholders.

Under the terms of the purchase and assumption agreement, VyStar will pay HSBI an aggregate amount estimated to provide HSBI with sufficient cash to have $27.00 per share in cash available for distribution to its shareholders after satisfaction of all of HSBI’s unconsolidated debt and any other obligations (the “per share consideration”). The per share consideration available to HSBI shareholders is subject to variations based on costs related to winding down Heritage Southeast Bank and HSBI and distributing the remaining assets to stockholders, including satisfaction of liabilities related to the liquidation accounts maintained by Heritage Southeast Bank, satisfaction of certain indebtedness, satisfaction of certain tax amounts, and termination of certain contracts, among others.

The transaction has been unanimously approved by the board of directors of each party and is expected to close late in 2021, subject to customary closing conditions, the approval of HSBI stockholders, and obtaining regulatory approvals. The distribution of cash to HSBI stockholders is expected to occur shortly following completion of the sale of assets to VyStar.

HSBI, based in Jonesboro, GA, was created in August 2019 and serves as the holding company for Heritage Southeast Bank, which operates under the names Heritage Bank, Providence Bank, and The Heritage Bank in its various markets. HSBI has $1.5 billion in assets and 22 branch locations including Jacksonville, Southeast Georgia and Savannah, as well as the South and North Metro Atlanta areas.

“Through the unique structure of this acquisition by VyStar, we believe we are maximizing value to our stockholders. We look forward to working with VyStar to continue our tradition of fostering relationships to best serve our customers and having a positive impact in our local communities,” said Leonard Moreland, CEO of HSBI.

When finalized, the acquisition will bring VyStar’s total assets to approximately $12.5 billion, full-service branches to over 85 and members to more than 850,000. Nationally, VyStar will move to the 13th-largest credit union in the country by asset size.

Hovde Group, LLC served as financial advisor and provided a fairness opinion and Bryan Cave Leighton Paisner LLP served as legal counsel to HSBI in the transaction. Raymond James & Associates served as financial advisor and McGuireWoods served as legal counsel to VyStar in the transaction.

About Heritage Southeast Bancorporation, Inc. and Heritage Southeast Bank:
Heritage Southeast Bancorporation, Inc. serves as the holding company for Heritage Southeast Bank, which is headquartered in Jonesboro, GA and operates under the names “Heritage Bank,” “The Heritage Bank,” and “Providence Bank” in its various markets. With approximately $1.5 billion in assets, the bank provides a well-rounded offering of commercial and consumer products through its 22 locations. For additional information, visit the HSBI website (myhsbi.com).

A proxy statement containing important information about the proposed transaction will be mailed to the shareholders of HSBI. The shareholders of HSBI are urged to read this proxy statement, which will include the agreement, and other related documents (including any amendments or supplements), carefully when it becomes available.

[Enterprising Investor]

VyStar Announces Agreement to Acquire Heritage Southeast Bank (3/31/21)

Expansion will bolster credit union’s ability to provide member services and make community impact in Georgia

JACKSONVILLE, Fla.--(BUSINESS WIRE)--VyStar Credit Union announced today it has signed a Definitive Purchase and Assumption Agreement to acquire Heritage Southeast Bank (HSB), a state-chartered bank headquartered in Jonesboro, Georgia.

VyStar has made an ongoing strategic commitment to search for partnerships that help us bring the benefits of credit union membership to more people while reinforcing our position as a strong and reliable financial institution with better rates and lower fees for all our members,” said VyStar President/CEO Brian Wolfburg. “HSB has exceeded our expectations as the optimal partner to help us expand our footprint and ensure financial services are accessible to more Georgia residents.”

When finalized, the acquisition will be VyStar’s second in 24 months and bring its total assets to approximately $12.5 billion, full-service branches to 88 and membership to over 850,000, making VyStar the 13th-largest credit union in the country by asset size. The transaction is expected to close later this year and is subject to standard closing conditions as well as shareholder and regulatory agency approvals.

“The acquisition of HSB will bring together two strong financial institutions that share a common goal of supporting our communities and members,” said VyStar Executive Vice President/COO Chad Meadows. “In 2020, VyStar’s community support resulted in more than $3 million in monetary donations and thousands of employee volunteer hours.”

Heritage Southeast Bancorporation, Inc. (HSBI) serves as the holding company for Heritage Southeast Bank, which operates as Heritage Bank, Providence Bank and The Heritage Bank in its various markets. HSB has $1.5 billion in assets and 22 branch locations across Southeast Georgia, through Savannah and into the Greater Atlanta Metro area.

“As with our last merger, we stand committed to our customers and employees,” said Leonard Moreland, CEO of HSBI. “We look forward to working with VyStar to continue our tradition of fostering relationships to best serve our customers and having a positive impact in our local communities.”

In August 2019, VyStar successfully finalized a partnership with Citizens State Bank headquartered in Perry, Florida. “We look forward to another seamless transition with HSB,” said Chief Strategy Officer Ryan McIntyre, who leads VyStar’s efforts in identifying potential strategic partners. “The emphasis VyStar places on employees, members and communities is proving to create successful results.”

VyStar is being represented in the transaction by McGuireWoods LLP as legal counsel, and Raymond James & Associates, Inc. as financial advisor. HSBI is represented by Bryan Cave Leighton Paisner LLP as legal counsel, and Hovde Group as financial advisor.

VyStar is the largest credit union headquartered in Northeast Florida and now serves over 750,000 members with assets totaling more than $10 billion. VyStar is the largest mortgage lender in Northeast Florida and one of the major employers in the region with over 2,000 employees. VyStar membership is open to everyone who lives or works in the 49 contiguous counties of Central to North Florida, 10 Southern Georgia counties and past and present military members and their families all over the world.

https://www.businesswire.com/news/home/20210331005814/en/VyStar-Announces-Agreement-to-Acquire-Heritage-Southeast-Bank

[malodious]

Heritage Southeast Bancorporation, Inc. Reports Fourth Quarter Results

https://www.otcdynamics.com/hsbi-heritage-southeast-bancorporation-inc-reports-fourth-quarter-results

Heritage Southeast Bancorporation, Inc. (OTCQX: HSBI) (“HSBI”) today reported net income of $2.7 million or $0.37 per diluted share for the fourth quarter of 2019. In September 2019, HSBI completed the previously announced merger with two other Georgia based financial institutions (Heritage Bancorporation, Inc., Hinesville and Providence Bank, Alpharetta). The financial information only includes the results from these acquired entities from the acquisition date. For the year ended December 31, 2019, net income was $989,000, which was negatively impacted by merger related costs primarily recognized in the third quarter.

Commenting on the announcement, Leonard Moreland, Chief Executive Officer of HSBI, said, “We are pleased with our first full quarter results under the newly formed entity. The team performed well in the period and we believe there is significant opportunity for organic growth within our footprint. The company is positioned to take advantage of these opportunities with the goal of continuing to increase market share and strengthen the communities we serve. We now look forward to 2020, the consolidation of our core systems, recognizing additional backroom efficiencies and enhancing the customer experience.”

About Heritage Southeast Bancorporation, Inc. and Heritage Southeast Bank:

Heritage Southeast Bancorporation, Inc. (OTCQX: HSBI) serves as the holding company for Heritage Southeast Bank, which is headquartered in Jonesboro, GA and operates under the names “Heritage Bank,” “The Heritage Bank,” and “Providence Bank” in its various markets. With approximately $1.3 billion in assets, the bank provides a well-rounded offering of commercial and consumer products through its 24 locations. For additional information, visit the HSBI website.

While the branches of each of the three combined legacy institutions operate under their respective legacy names, all such branches are branches of the same single insured depository institution, Heritage Southeast Bank, and a customer’s deposits in branches operating under different trade names will be commonly insured and subject to the same FDIC insurance limits.

Cautionary Note Regarding Forward-Looking Statements

Statements included in this press release, which are not historical in nature, are intended to be, and hereby are identified as, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “will,” “may,” “anticipate,” “create,” “plan,” “expect,” “should,” and “could” and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks, uncertainties and assumptions, include, among others, the following:

• the possibility that the anticipated benefits of the transaction, including anticipated improved product and service offerings, efficiencies and strategic gains, are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the three companies or as a result of the strength of the economy, competitive factors in the areas where the combined company does business, or as a result of other unexpected factors or events;

• the impact of purchase accounting with respect to the transaction, or any change in the assumptions used regarding the assets purchased and liabilities assumed to determine their fair value;

• the integration of the businesses and operations of the three companies, which may take longer than anticipated or be more costly than anticipated or have unanticipated adverse results relating to the combined company’s business; and

• other factors that may affect future results of the combined company, including changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates and capital markets; inflation; customer borrowing, repayment, investment and deposit practices; the impact, extent and timing of technological changes; capital management activities; actions of the Federal Reserve Board; and other legislative and regulatory actions and reforms.

Heritage Southeast Bancorporation, Inc. and its subsidiary disclaim any obligation to update or revise any forward-looking statements contained in this press release, which speak only as of the date hereof, whether as a result of new information, future events or otherwise, except as required by law.

Heritage Southeast Bancorporation, Inc.
Consolidated Balance Sheets
(in thousands)

12/31/19 9/30/19 (1) 12/31/18
(Unaudited) (Unaudited)
Assets
Cash and due from banks
$

30,458

$

26,633

$

4,668

Interest-earning deposits with banks

142,552

113,293

22,166

Investment securities

125,479

104,265

47,917

Other investments

1,632

1,632

1,370

Loans, net of unearned income:
Originated

508,281

469,700

408,294

Acquired

406,171

444,370

-

Less reserve for loan losses

5,946

5,523

5,136

Loans, net

908,506

908,547

403,158

Premises and equipment, net

34,160

34,005

13,982

Other real estate owned

9,293

11,838

2,923

Goodwill and other intangibles

35,613

35,930

-

Other assets

48,447

50,013

15,799

$

1,336,140

$

1,286,156

$

511,983

Liabilities and Shareholders' Equity
Deposits:
Non-interest bearing
$

296,850

$

304,342

$

111,609

NOW

234,334

189,500

67,878

Money market and savings

291,778

284,047

119,140

Time

331,516

328,830

127,752

Total deposits

1,154,478

1,106,719

426,379

FHLB borrowings

5,167

5,667

22,167

Repurchase agreements

12,295

11,418

12,815

Junior subordinated debentures

9,096

9,045

-

Other borrowings

9,088

9,088

3,446

Other liabilities

9,992

10,746

3,785

Total liabilities

1,200,116

1,152,683

468,592

Shareholders' Equity:
Common stock

703

702

216

Additional paid-in capital

116,210

116,089

24,912

Retained earnings

19,654

16,914

18,666

Other comprehensive loss

(543

)

(232

)

(403

)

Total shareholders' equity

136,024

133,473

43,391

$

1,336,140

$

1,286,156

$

511,983

(1)
Acquired loans, goodwill and other assets changed from previously reported due to adjustments of fair value estimates related to the Heritage Bancorporation, Inc. acquisition.

Heritage Southeast Bancorporation, Inc.
Consolidated Income Statements
(in thousands)

For three months ended

Years ended

12/31/19 12/31/18 12/31/19 12/31/18

(Unaudited)

(Unaudited)

(Unaudited)

Interest income:
Loans, including fees
$

13,903

$

5,957

$

35,697

$

21,644

Deposits with other banks

380

168

969

537

Other

26

12

76

48

Investment securities

606

202

1,468

745

Total interest income

14,915

6,339

38,210

22,974

Interest expense:
Deposits

2,116

641

5,348

2,007

Junior subordinated debentures

143

-

175

-

Other borrowings

179

205

706

631

Total interest expense

2,438

846

6,229

2,638

Net interest income

12,477

5,493

31,981

20,336

Provision for loan losses

560

50

1,245

605

Net interest income after provision for loan losses

11,917

5,443

30,736

19,731

Noninterest income:
Service charges on deposits

1,727

320

3,207

1,150

(Loss) gain on sale of investment securities

-

-

(229

)

187

Gain on sale of loans

184

78

407

333

Interchange and ATM fees

1,315

256

2,205

703

Other

628

128

1,195

779

Total noninterest income

3,854

782

6,785

3,152

Noninterest expense:
Salaries & employee benefits

6,125

2,635

15,970

9,892

Occupancy & equipment

1,376

582

3,167

1,946

Merger costs

-

106

7,265

318

Other real estate owned

44

91

646

314

Other

4,324

1,263

8,721

4,829

Total noninterest expense

11,869

4,677

35,769

17,299

Income before taxes

3,902

1,548

1,752

5,584

Income tax provision

1,162

249

763

1,165

Net income
$

2,740

$

1,299

$

989

$

4,419

Heritage Southeast Bancorporation, Inc.
Other Highlights
(in thousands, except for share and per share data)

4Q2019 For years ended
(Unaudited) 12/31/19 12/31/18
Profitability (1) (Unaudited)
Net income
$

2,740

$

989

$

4,419

Net interest margin

4.29

%

4.40

%

4.39

%

Cost of funds

0.84

%

0.87

%

0.59

%

Return on average assets

0.83

%

0.12

%

0.90

%

Return on average equity

8.06

%

1.31

%

10.79

%

Balance as of
12/31/19 12/31/18
Asset Quality
Classified assets
$

23,913

$

5,374

Nonperforming assets (NPAs)

21,281

4,651

NPAs to total assets

1.59

%

0.91

%

Net charge-offs to average loans

0.07

%

0.00

%

Capital (2)
Leverage ratio

8.68

%

9.14

%

Common equity tier 1 risk based ratio

10.43

%

10.46

%

Total risk based ratio

11.00

%

11.61

%

Tangible book value per common share
$

13.86

$

14.75

Shares outstanding

7,029,281

2,160,102

(1)
Full year 2019 net income includes the operations of the acquired institutions since acquisition date (09/01/19) as well as merger related costs recognized during the first nine months of the year.

(2)
Ratios for Heritage Southeast Bank.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200123005169/en/

[Enterprising Investor]

Newly Created Heritage Southeast Bank Hires Chief Credit Officer (10/02/19)

JONESBORO, Ga.--(BUSINESS WIRE)--Heritage Southeast Bank announced today that Paul Hoerig has joined the team as Executive Vice President and Chief Credit Officer. Mr. Hoerig will manage all credit-related functions for the company’s three banking regions.

The new banking entity was created in August when Heritage Southeast Bancorporation, Inc. became the holding company for Heritage Southeast Bank and its three partner banks. “Although our approach to credit is a decentralized autonomous model, Paul will oversee credit decisioning to ensure maintenance of the company’s overall risk appetite,” explained HSBI CEO Leonard Moreland.

Heritage Southeast Bank will continue to operate locally as Heritage Bank in South Atlanta, Providence Bank in Alpharetta/Milton, and The Heritage Bank in South Georgia/Northeast Florida. Each division will maintain their individual brands and existing executive management teams. This combination of community banks under one holding company allows the three partner banks to both grow and position themselves to better compete against larger regional and national banks.

Paul Hoerig has 23 years of banking industry experience, having spent the majority of his career in senior credit administration roles managing commercial loan portfolios in regions throughout the Southeast . “I couldn’t be more pleased to join Heritage Southeast Bank,” said Hoerig. “This new concept in community banking is exciting, I look forward to working with all three partner banks to continue to provide world class service to the customers in our communities.”

Heritage Southeast Bancorporation, Inc. (OTCQX: HSBI) serves as the holding company for Heritage Southeast Bank, which is headquartered in Jonesboro, GA and operates under the names “Heritage Bank,” “The Heritage Bank,” and “Providence Bank” in its various markets. With approximately $1.3 billion in assets, the bank provides a well-rounded offering of commercial and consumer products through its 23 locations. For additional information, visit the HSBI website or any one of the partner banks’ websites and select the Investor Relations link.

https://www.businesswire.com/news/home/20191002005503/en/Newly-Created-Heritage-Southeast-Bank-Hires-Chief

[Enterprising Investor]

Georgia Community Banks Complete Combination to Become Heritage Southeast Bank (9/03/19)

JONESBORO, Ga. & HINESVILLE, Ga. & ALPHARETTA, Ga.--(BUSINESS WIRE)--CCF Holding Company (CCF), Heritage Bancorporation, Inc. (HBI) and Providence Bank (Providence) jointly announced today the successful closing of their previously-announced merger of equals, effective September 1, 2019. Upon the closing, CCF was renamed Heritage Southeast Bancorporation, Inc. (HSBI), and its common shares will trade on the OTCQX under the ticker symbol “HSBI” beginning today.

Pursuant to the terms of the previously disclosed business combination agreement among the companies dated December 20, 2018, each share of HBI common stock has been converted into 0.9504 shares of HSBI common stock, each share of Providence common stock has been converted into 0.1225 shares of HSBI common stock, and each share of CCF common stock remains outstanding as a share of HSBI common stock.

“We are thrilled to announce the completion of the combination of our three companies,” said Leonard Moreland, the Chief Executive Officer of HSBI. “We believe the combined company will provide value and opportunities for our shareholders, customers and employees and the communities that we serve.”

Continuity and Increased Services for Customers

Customers will experience continuity, with the same bankers and locations immediately following the closing. Customer accounts, loan payment terms, access to account information through mobile and online banking applications, use of debit cards or access to ATMs did not change as a result of the closing.

In connection with the closing, Providence and the subsidiary banks of each of CCF and HBI merged, and the combined bank was renamed Heritage Southeast Bank. The combined bank will continue to operate under the “Providence,” “Heritage Bank” and “The Heritage Bank” brand names, with their existing executive management teams, in their traditional markets of Alpharetta, South Atlanta and South Georgia/Northeast Florida, respectively. Additionally, the existing customer bases of each of the combined banks are expected to benefit over time from increased product offerings and lending capacity and access to greater resources as a result of the combination.

Brian Smith, the President of HSBI and the President of the combined bank’s The Heritage Bank division serving the South Georgia/Northeast Florida markets, noted, “The combined bank is positioned to better serve the needs of our customers, while also providing a stronger performance platform for employees and shareholders.”

Providence customers can find additional information at www.providencebankga.com, Heritage Bank customers can find additional information at www.heritagebank.com, and The Heritage Bank customers can find additional information at www.the-heritage-bank.com.

The Combined Bank Holding Company: Heritage Southeast Bancorporation, Inc.

This combination of three community banks under one holding company is designed to create a growth-oriented banking franchise, with branches in Georgia and Northeast Florida. On a combined pro-forma basis as of June 30, 2019, and excluding purchase accounting adjustments, HSBI had total assets of approximately $1.3 billion, gross loans of approximately $880 million, and deposits of approximately $1.1 billion.

The combination is expected to offer shareholders several benefits, including ownership in a larger, more diversified and scalable company that has increased capital flexibility and operational effectiveness and efficiency, as well as improved liquidity in their shares.

“We look forward to continuing the ‘customer first’ cultures of each of our legacy organizations, while also providing our shareholders with a more marketable stock,” said Brad Serff, the First Executive Vice President of HSBI and the President for the combined bank’s legacy Providence Bank division, which serves the Alpharetta and Milton communities.

About Heritage Southeast Bancorporation, Inc. and Heritage Southeast Bank:

Heritage Southeast Bancorporation, Inc. (OTCQX: HSBI) serves as the holding company for Heritage Southeast Bank, which is headquartered in Jonesboro, GA and operates under the names “Heritage Bank,” “The Heritage Bank,” and “Providence Bank” in its various markets. With approximately $1.3 billion in assets, the bank provides a well-rounded offering of commercial and consumer products through its 23 locations. For additional information, visit one of the banks’ websites and select the Investor Relations link.

While the branches of each of the three combined legacy institutions will operate under their respective legacy names following the closing, all such branches will be branches of the same single insured depository institution, Heritage Southeast Bank, and a customer’s deposits in branches operating under different trade names will be commonly insured and subject to the same FDIC insurance limits.

https://www.businesswire.com/news/home/20190903005154/en/Georgia-Community-Banks-Complete-Combination-Heritage-Southeast

[Renee]

CCF Holding Co., CCFH, changed to Heritage Southeast Bancorporation Inc., HSBI:

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

[malodious]

Another Kenneth Lehman merger-

https://www.marketwatch.com/press-release/ccf-holding-company-heritage-bancorporation-inc-and-providence-bank-announce-business-combination-agreement-2018-12-20

[Enterprising Investor]

2018 has been good CCFH for shareholders.

CCF HOLDING COMPANY (CCFH)
Last Trade [tick] 25.5100[-]
Net Change -0.4900
Net Change %-1.88%
52 Week High 26.0000 on 11/23/2018
52 Week Low 20.5000 on 12/27/2017

[Enterprising Investor]

OTC Markets Group Welcomes CCF Holding Company to OTCQX (9/20/18)

NEW YORK, Sept. 20, 2018 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced CCF Holding Company (OTCQX: CCFH), the parent company of Heritage Bank, has qualified to trade on the OTCQX® Best Market. CCF Holding Company upgraded to OTCQX from the Pink® market.

CCF Holding Company begins trading today on OTCQX under the symbol "CCFH." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

"CCF Holding Company joins more than 80 investor-focused community banks that trade on the OTCQX Best Market," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "CCF Holding Company is the parent company of Heritage Bank, which has a 60-year history serving communities in the southern crescent of metro Atlanta. Trading on OTCQX will enable CCF Holding Company to provide current information and timely distribution of material news as the company seeks to grow and build shareholder value."

Leonard Moreland, President & Chief Executive Officer of CCF Holding Company further stated, "We feel OTCQX best fits the current and future needs of CCF Holding Company. This move will improve liquidity for our shareholders and support a more efficient market for our growing company."

CCF Holding Company was sponsored for OTCQX by FIG Partners LLC, an employee-owned broker/dealer specializing in financial institutions.

About CCF Holding Company

CCF Holding Company, Inc. is a publicly traded corporation on the OTCQX Market under the symbol "CCFH." CCF Holding Company, Inc. is a bank holding company incorporated under the laws of the State of Georgia. The corporation was organized in 1995 in connection with a conversion of the underlying bank from a mutual to stock form of organization. Prior to this conversion, the bank, through its predecessors, commenced business in 1955.

Heritage Bank, a state chartered commercial bank, has been serving metro Atlanta's Southern Crescent since 1955. Heritage Bank is a commercial bank operating within the Southern Crescent of Atlanta, GA. The community bank has six full-service offices, features a well-rounded offering of commercial and consumer products, and is an active, involved member of the community it serves.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to trade through the broker of their choice easily and empower companies to improve the quality of information available for investors.

https://www.prnewswire.com/news-releases/otc-markets-group-welcomes-ccf-holding-company-to-otcqx-300715805.html

[Enterprising Investor]

Effective 8/01/18 a one for 10 reverse split (7/31/18)

http://otce.finra.org/DLSymbolNameChanges

[malodious]

There's a new call report out. Also just poking around their website I see they've posted a quarterly report, believe for the first time. Link here- https://www.flipsnack.com/heritagebank/heritage-bank.html

[norweger1979]

9/30/2017 call report

net income $2,449,000

vs.

9/30/2016 call report

net income $6,736,000


2016 report includes $4,720,000 tax benefit. Apple to Apple comparison 2017 ytd net income up $433,000 YoY.

[malodious]

CCF Holding Company Announces Closing of Investment Transaction
September 07, 2017 04:32 PM Eastern Daylight Time

JONESBORO, Ga.--(BUSINESS WIRE)--CCF Holding Company (OTCPK: CCFH) (the “Company”), the holding company for Heritage Bank, today announced that the Company has closed on its previously announced investment transaction with Kenneth R. Lehman, a private investor, in which the Company issued approximately 11.4 million shares of common stock to Mr. Lehman for aggregate gross proceeds of approximately $16.0 million.

In connection with the investment transaction, the Company also closed on its offer to purchase for cash up to all of its 16,000,000 outstanding warrants for $0.90 per warrant (the “tender offer”), and its offer to exchange each outstanding share of its Series A Preferred Stock for 714 newly issued shares of common stock (the “exchange offer”). Warrantholders tendered a total of 7,133,000 warrants for repurchase by the Company in the tender offer, and preferredholders tendered a total of 5,505 shares of Series A Preferred Stock in exchange for a total of 3,930,570 shares of common stock in the exchange offer. Any shares of Series A Preferred Stock that were not exchanged for shares of the Company’s common stock in the exchange offer were redeemed by the Company effective August 23, 2017, for a cash payment of $1,000 per share, in accordance with the terms of the Series A Preferred Stock and the Company’s Notice of Redemption. Following the closing of the above transactions, other than with respect to equity rights granted under management incentive plans, the Company has no shares of preferred stock outstanding, 20,664,681 shares of common stock outstanding, and warrants to purchase 8,867,000 shares of common stock for $0.50 per share.

About CCF Holding Company

With $448 million in total assets as of June 30, 2017, CCF Holding Company, through its wholly-owned subsidiary, Heritage Bank, offers a broad range of financial services through its six branches in Clayton, Henry, and Fayette counties in Georgia.

The Company’s common stock trades on the OTC Pink Sheets under the symbol “CCFH.”
Contacts

CCF Holding Company
Leonard Moreland, 770-478-8881
Chief Executive Officer



http://www.businesswire.com/news/home/20170907006639/en/

[norweger1979]

CCFH & Kenneth Lehmann

Kenneth Lehmann holds about 25% stake in CCFH. Check out the merger/combination of DBCP & LBBB to understand what Mr. Lehmann's involvement & support "can" mean for shareholders...

:)

[norweger1979]

CCFH 6/30/2017 call report

$1,675,000 net income

vs.

6/30/2016 call report

$6,343,000 net income
(included $4,968,000 tax gain)


compare apples to apples net income BEFORE taxes

6/30/2017 $2,732,000
6/30/2016 $1,375,000

that's a solid improvement YoY

good luck!

[malodious]

6/30/17 report is up-

https://cdr.ffiec.gov/public/Reports/UbprReport.aspx?rptCycleIds=105%2c90%2c101%2c86%2c81&rptid=283&idrssd=628178&peerGroupType=&supplemental=

[norweger1979]

CCFH $1.90

strong BID support of 26,233 shares @ $1.90. There has been a 5k block seller appearing EODs lately... hopefully this buying support takes that supply and CCFH continues into $2.xx land

[norweger1979]

CCF Holding Company Announces Securities Purchase Agreement


JONESBORO, Ga.--(BUSINESS WIRE)--CCF Holding Company (OTC Pink:CCFH) (the “Company”), the holding company for Heritage Bank, today announced that the Company has entered into a securities purchase agreement (the “Agreement”) with Kenneth R. Lehman, a private investor.

Pursuant to the Agreement, Mr. Lehman has agreed to purchase from the Company up to approximately 11.4 million shares of common stock at a price of $1.40 per share, for an aggregate purchase price of up to $16.0 million, with a minimum purchase of 7.5 million shares of the Company’s common stock for a minimum aggregate purchase price of $10.5 million (the “Investment Transaction”).

The Agreement contemplates that all holders of warrants to purchase shares of the Company’s common stock will have the opportunity to tender all or any portion of their warrants to the Company and receive a cash payment of $0.90 per warrant, subject to proration in certain circumstances. In addition, holders of the Company’s Series A Preferred Stock, who are accredited investors, will have the opportunity to tender all or any portion of their shares of Series A Preferred Stock in exchange for 714 newly issued shares of the Company’s common stock for each share of Series A Preferred Stock tendered, subject to proration in certain circumstances. The shares of common stock received in exchange for Series A Preferred Stock will be subject to certain voting and transfer restrictions. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities. The Company will deliver materials to each warrantholder and preferredholder containing the Company’s offer to purchase outstanding warrants and offer to exchange Series A Preferred Stock, as well as instructions on how such holders can participate in each offer.

Any shares of Series A Preferred Stock that are not exchanged for shares of the Company’s common stock will be redeemed by the Company for a cash payment of $1,000 per share in accordance with the terms of the Series A Preferred Stock.

At December 31, 2016, the Company had 5,190,223 shares of common stock outstanding, and 39,590,223 shares of common stock outstanding on a fully diluted basis (assuming the conversion of outstanding preferred shares and the exercise of outstanding warrants). The Company’s fully diluted book value at December 31, 2016 was $1.05 per share. Through these transactions, the Company anticipates the resulting fully diluted book value to be approximately $1.40 per share and accretive to existing shareholders.

“We are humbled by Ken’s confidence in our company and his investment is a testimony to the hard work and perseverance of the entire Heritage Bank team. Ken’s investment provides us with the opportunity to create a strong common equity capital base, as well as position us for future growth,” said Leonard A. Moreland, Chief Executive Officer and President of CCF Holding Company.

Subject to the receipt of regulatory approvals and satisfaction of other closing conditions, the Investment Transaction is anticipated to close in the third quarter of 2017. The offer to purchase outstanding warrants and offer to exchange Series A Preferred Stock, as well as the proposed redemption of any shares of Series A Preferred Stock not tendered for exchange, are conditioned on the closing of the Investment Transaction.

About CCF Holding Company

With $431 million in total assets as of March 31, 2017, CCF Holding Company, through its wholly-owned subsidiary, Heritage Bank, offers a broad range of financial services through its six branches in Clayton, Henry, and Fayette counties in Georgia.

The Company’s common stock trades on the OTC Bulletin Board under the symbol “CCFH.”

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, which can be identified by words such as “will,” “plan,” “expect,” “likely” “project,” “may,” and similar references to future periods. Examples of forward-looking statements include, among others, statements regarding the Company’s planned Investment Transaction, including the expected timing of the closing of the transaction, the expected impact of the Investment Transaction on fully diluted book value per share, and that the Investment Transaction will position the Company for future growth. Forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, and, therefore, actual results and outcomes may materially differ from what may be expressed or forecasted in such forward-looking statements. The Company does not assumes any duty to update, amend or clarify forward-looking statements, whether as a result of new information, future events or otherwise. Risk factors relating to the Investment Transaction, the Company’s ability to make the offers related to the warrants and Series A Preferred Stock and the impact of the Investment Transaction include, without limitation, that the completion of the Investment Transaction is dependent on, among other things, receipt of regulatory approvals, the timing of which cannot be predicted with precision at this point and which may not be received at all, and other closing conditions, the number of warrantholders who tender their warrants for purchase, the number of preferredholders who tender their shares of preferred stock for exchange, a downturn in the economy, particularly in the Company’s markets, volatile credit and financial markets both domestic and foreign, potential deterioration in real estate values, regulatory changes and excessive loan losses.




Contacts

CCF Holding Company
Leonard Moreland, 770-478-8881
Chief Executive Officer


http://www.businesswire.com/portal/site/home/search/?searchType=all&searchTerm=ccfh&searchPage=1

[genlou]

Wow! Salty, A gold Rolls will be perfect for you.

[SaltyMutt]

It's almost time to start thinking about what color Rolls to buy. CCFH is looking real good at $2.95.

[SaltyMutt]

I'm almost ready to call the Rolls salesman. We'll get to $3.00 soon.

[genlou]

Salty, 2.05

[SaltyMutt]

CCFH was at the two buck level for a short period of time today. I think the bank will begin looking for the three buck level very soon.

[norweger1979]

3/31/2017 call report

net income $840,000

vs.

3/31/2016 call report

net income $694,000

[malodious]

2016 annual report is out-
http://www.envisionreports.com/ccfh/2017/03D13FE17F/Documents/2016_AR_proof_3.pdf

[SaltyMutt]

With a MASSIVE block of 2 just bought, I detect the work of the JRS/Gen coalition.

[56Chevy]

Date : 07/28/2014 @ 2:51PM
Source : Edgar (US Regulatory)
Stock : Ccf Holding Co. (QB) (CCFH)
Quote : $0.48 0.0 (0.00%) @ 5:32AM

Marker:
Ccf Holding Co. (PC) (CCFH)
$1.51 down -0.05 (-3.21%)
Volume: 2,225

*Stock is up 179% in the last 27 months ...or 6.6% on average per month.

[genlou]

JRS,I'm so glad!I just wish we had more.

[BigCat]

$1.65

[BigCat]

It's certainly been exciting to watch!

We have ourselves a great pile of Community Bank stocks!

[SaltyMutt]

CCFH is looking pretty good today.

[genlou]

Salty, 1.47

[SaltyMutt]

I was hoping the quarterly report would push us up a little higher than 1.42 but I guess CCFH has to start somewhere.

[SaltyMutt]

Even without a report I think CCFH will hit 1.50 next week. With a good report I think 2.50 might be easy to hit.

[genlou]

Salty, $1.36.

[BigCat]

I think you're right Salty!

[SaltyMutt]

I don't think it would take too much of a push to get CCFH up to the 1.50 level before the 3rd quarter report is released.

[BigCat]

CCFH Up 10% to $1.21

[BigCat]

Trending upward very nicely, indeed.

[SaltyMutt]

I don't think we're too far away from a CCFH pps of more than two bucks. We're a lookin' good here.

[SaltyMutt]

It's nice to see the CCFH ask keep moving up. It's at .97 as of this post.

[SaltyMutt]

I think the guy/girl/group that bought the 87,765 shares is going to be tempted to grab a short term profit of $87,765.00 very soon. And if he/she/they can resist the temptation to sell too quickly, a profit of $175,530.00 or more could be realized before the year is out.

[BigCat]

What a day here! That huge block at .95 got taken out!

[SaltyMutt]

They are indeed a crushin' it! If they can figure out how to keep those kind of numbers a rollin' in we'll see a pps march past the five buck level and begin it's trek to the ten buck mark.

[BigCat]

(CCFH) Heritage Bank YTD Income: $6,343,000

They're Crushin' it over there in Jonesboro!

[malodious]

New report is up, looks like 6.3 million in income for the bank's first 6 months of the year-

https://cdr.ffiec.gov/public/Reports/UbprReport.aspx?rptCycleIds=90%2c87%2c86%2c85%2c83&rptid=283&idrssd=628178&peerGroupType=&supplemental=

[BigCat]

Heritage Bank of Jonesboro, GA
How Healthy is This Bank?

Assets: Increased $20Mil or 5% in a Year
Deposits: Increased $18Mil or 5% in a Year
TTA: Decreased $6Mil or 40% in a Year

*Troubled Asset Ratio Continues Downward Trajectory.

http://banktracker.investigativereportingworkshop.org/banks/georgia/jonesboro/heritage-bank/

[BigCat]

Heritage Bank 1st Quarter 2016 Income: $694,000

[malodious]

Annual Report link-

http://www.envisionreports.com/CCF04052016/2016/2A105AP16/Documents/CCF_Holding_Company_2015_Financial_Statements_Final_proof4.pdf