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EJF Capital Buys Two Banks: SouthCrest & Tri-County

EJF Capital, Tri County Financial, Southcrest Financial: In two separate 13G filings with the SEC a few minutes ago, Arlington, VA-based EJF Capital reported long positions in Tri-County Financial Corp (NASDAQ:TCFC) and SouthCrest Financial Group Inc (OTCMKTS:SCSG). Both are passive in nature, not activist, and the firm holds 9.8% of SouthCrest’s outstanding shares and 5% of Tri-Country.

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At the beginning of the month. Tri-County Financial Corporation, which is the holding company of Community Bank of Tri-County, recently closed its public offering of 1.4 million shares, at a price of $18.75 apiece, gaining proceeds worth $26.3 million. Shares of SouthCrest, meanwhile, are up over 19% year-to-date.

Disclosure: none

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