Southeastern Banking Corporation Reports Third Quarter Earnings

Southeastern Banking Corporation Reports Third Quarter Earnings



DARIEN, Ga., Oct. 21  /PRNewswire-FirstCall/ -- Southeastern Banking
Corporation (OTC:SEBC) (BULLETIN BOARD: SEBC)  today announced increases in net
income for the quarter and nine months ended September 30, 2004 compared to the
corresponding periods last year.

   - Net income for the 2004 third quarter totaled $1,479,000 or $0.45 per
     share, up $119,000 or 9% from September 30, 2003.
   - Year-to-date, net income grew $446,000 or 12% to $4,267,000 at
     September 30, 2004 from $3,821,000 in 2003.  On a per share basis, net
     income for the nine month period improved $0.14 to $1.29 at
     September 30, 2004 from $1.15 in 2003.



Southeastern Banking Corporation (the Company), with assets of $379 million, is
a financial services company with operations in southeast Georgia and northeast
Florida.  Southeastern Bank (SEB), the Company's principal subsidiary, offers a
full line of commercial and retail services to meet the financial needs of its
customer base through its fifteen branch locations, loan production office in
Brunswick, Georgia, and ATM network.  Services offered include traditional
deposit and credit services, long-term mortgage originations, and credit cards.
 SEB also offers 24-hour delivery channels including internet and telephone
banking and provides insurance and investment brokerage services.  The Company
is headquartered in Darien, Georgia.  More information on the Company and its
subsidiaries can be obtained through SEB's website at
http://www.southeasternbank.com/ or through periodic filings with the
Securities & Exchange Commission at http://www.sec.gov/ . 

DATASOURCE: Southeastern Banking Corporation



CONTACT:  Alyson G. Beasley, Vice President of Southeastern Banking

Corporation, [phone]



Web site:  http://www.southeasternbank.com/ 

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