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Winston-Salem, N.C.-Based Southern Community Financial Sees Lower Profits.
Byline: Fran Daniel
Jan. 29--Southern Community Financial Corp. reported slightly lower net income for its fourth quarter as low interest rates continued to squeeze profit.
For the three months ended Dec. 31, the company had net income of $836,000, or 9 cents a share, compared with net income of $1.1 million, or 12 cents a share, for the same period in 2002.
Southern Community, based in Winston-Salem, is the holding company of Southern Community Bank and Trust.
The bank ended the year with total assets of $799 million, a 30 percent increase over 2002.
"This past year has been one of dynamic positive change for our company," said …
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