Heritage Southeast Bancorporation, Inc. Reports First Quarter Results

JONESBORO, Ga.--(BUSINESS WIRE)--Heritage Southeast Bancorporation, Inc. (OTCQX: HSBI) (“HSBI” or the “Company”) today reported net income of $1.6 million or $0.23 per diluted share for the first quarter of 2020 compared to $2.7 million or $0.37 per diluted share for the fourth quarter 2019. The reduction in earnings was primarily due to an additional provision for loan losses of $1.5 million related to the current economic uncertainty. Commenting on the announcement, Leonard Moreland, Chief Ex