Security Bank CFO leaving - Atlanta Business Chronicle:

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McLemore leaves July 13. Michael B. senior vice president and CFO of Securityt Bank ofBibb County, was named interim CFO. "Jinm has been a valued member of the Security Bank management team for the pastseve years, and we wish him succesz in his new said Tony E. Collins, president and CEO, in a Macon-based Security Bank, Georgia’as fourth-largest bank with $2.8 billion in is under federalregulatory oversight. And Security Bank of Gwinnett County had the highes t problem loan ratio of any Georgiza bank in thefirsrt quarter. One-half of the bank’s $210 million loan portfoliop is in some stage of delinquencyor default.
The bank is one of five ownee by Security Bank that is undef a regulatory watch and In a March Securities and Exchange Commission the auditor for SecurityBank (NASDAQ: SBKC) revealecd doubts about the institution’s ability to survive as a going Auditor McNair, Mclemore, Middlebrooks & Co. LLP said it has “uncertainty about the [Security Bank's] ability to meet obligations coming due in The bank hasroughly $300 million in totao borrowed funds, according to its annua l report. That figure is 45 perceng higher thanthe bank’s $204 million debt levekl in 2007. Security Bank trimmed its lossto $18.
5t million in the first quarter and withdrew its application to participate in the TARP Capitao Purchase Program.