Southeastern Banking Corporation Reports Second Quarter Earnings DARIEN, Ga., July 20 /PRNewswire-FirstCall/ -- Southeastern Banking Corporation (OTC:SEBC) (BULLETIN BOARD: SEBC) today announced an increase in net income for the quarter and six months ended June 30, 2004 compared to the corresponding periods last year. * Net income for the 2004 second quarter totaled $1,449,000 or $0.44 per share, up $209,000 or 17% from June 30, 2003. * Year-to-date, net income grew $328,000 or 13% to $2,789,000 at June 30, 2004 from $2,461,000 in 2003. On a per share basis, net income for the six month period improved $0.10 to $0.84 at June 30, 2004 from $0.74 in 2003. Southeastern Banking Corporation (the Company), with assets of $385 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 & Treasurer of Southeastern Banking Corporation, +1-912-437-4141 Web site: http://www.southeasternbank.com/

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