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Southwest Georgia Financial Corporation Reports Results For Second Quarter Of 2011

Southwest Georgia Financial Corporation (the “Corporation”) (NYSE Amex: SGB), a full-service community bank holding company, today reported net income of $591 thousand, or $0.23 per diluted share, for the second quarter of 2011, down $315 thousand from net income of $906 thousand, or $0.36 per diluted share, for the second quarter of 2010. The decrease in net income reflects substantially lower gains on the sale of securities and increased salary and employee benefit expenses related to staffing the full-service banking center and mortgage origination office in Valdosta, Georgia.

DeWitt Drew, President and CEO commented, “While we’re still very cautious about the economic environment, we are continuing our expansion in the Valdosta market where we have recently acquired a location to build our second banking center. We expect to break ground soon and have the branch open by the first quarter of 2012. While much of our loan and deposit growth is being driven by our Valdosta operation, we have maintained and continue to focus on expanding our customer relationships throughout our footprint.”

Return on average equity for the second quarter of 2011 was 8.59% compared with 13.56% for the second quarter of 2010. Return on average assets for the quarter was 0.76% compared with 1.21% for the same period in 2010.

For the first six months of 2011, net income was $966 thousand compared with net income of $1.3 million for the same period in 2010. The decline in net income primarily reflects the lower net gain on the sale of securities and increased salary and employee benefits. Earnings per diluted share for the first six months of 2011 were $0.38, down from $0.52 for the same period in 2010. Year-to-date return on average equity was 7.10% compared with 9.96% for the same period last year, while return on average assets decreased 26 basis points to 0.62%.

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