Security Bank Corporation (SBKC), incorporated on February 10, 1994, serves as the holding company for five subsidiary banks: Security Bank of Bibb County, Security Bank of Houston County, Security Bank of Jones County, Security Bank of North Metro and Rivoli Bank & Trust (the Banks). The Company provides community banking services through 31 banking and mortgage production offices, with a substantial portion of the business being drawn from Bibb, Houston and Jones Counties in the State of Georgia. The Banks own 16 full-service banking locations and one limited-service banking location, one standalone automated teller machine (ATM) and night depository and Security Bank of Bibb County's operations center, which housed its in-house data processing facility and operational support functions as of December 31, 2005. Fairfield Financial Services, Inc., a subsidiary of Security Bank of Bibb County, leases a number of mortgage production offices throughout Georgia and the southeast. Lending Activities The Banks' construction loan portfolio consists of loans for non-agricultural, residential and commercial construction and land development projects. As of December 31, 2005, speculative residential construction loans amounted to $52.7 million, or approximately 4.1%, of the loan portfolio. Commercial construction loans for residential or retail properties represented approximately 40.5% of the loan portfolio as of December 31, 2005. The Banks' residential mortgage loans consist of two types of loans, such as residential loans to individuals intended for resale and residential loans to individuals intended to be held in the loan portfolio. As of December 31, 2005, these loans represented approximately 47.3% of loan portfolio. The Banks make commercial loans that consist primarily of commercial and industrial loans for the financing of accounts receivable, inventory, property, plant and equipment. As of December 31, 2005, these loans represented approximately 8.6% of the loan portfolio. Loans to individuals are usually for personal, family and household purposes. As of December 31, 2005, these loans represented approximately 3.7% of the loan portfolio. As of December 31, 2005, approximately 87.8% of the loan portfolio was secured by real estate. As of December 31, 2005, loans and loans held for sale, amounted to 76.9% of total assets, and 98.9% of deposits. Loans amounted to 87.4% of all funding sources from interest-bearing liabilities at December 31, 2005. Investment Securities As of December 31, 2005, the Banks' portfolio of bonds and equity investments amounted to $151.0 million, or 9.1% of total assets. Excluding securities acquired from SouthBank and Rivoli BanCorp, the Banks' total investment portfolio was $113.1 million at December 31, 2005. At December 31, 2005, the major portfolio components, based on amortized or accreted cost, included 51.2% in mortgage-backed securities issued by United States government agencies; 30.8% in other bonds of United States government agencies; 13.0% in state, county and municipal bonds; 4.6% in restricted stocks; and 0.4% in other securities. As of December 31, 2005, the investment portfolio had gross unrealized gains of $419,291 and gross unrealized losses of $2,860,141 for a net unrealized loss of $2,440,850. Sources of Funds Deposits are the Banks' primary source of funds. Total deposits, as of December 31, 2005, were $1.3 billion. Average deposits were $1 billion during the year ended December 31, 2005. The average cost of deposits, considering non-interest checking accounts, was 2.37% during 2005. On an average basis for 2005, 12% of deposits were held in non-interest-bearing checking accounts, 25.8% were in lower yielding interest-bearing transaction and savings accounts, and 62.2% were in time certificates with higher yields. The Banks hold no deposit funds from foreign depositors.

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