CCF Holding Company Announces Terms of Reverse Stock Split

JONESBORO, Ga.–(BUSINESS WIRE)–CCF Holding Company (OTCPK: CCFH) (the “Company”), the holding company for Heritage Bank, today announced that the Company filed an amendment to its Restated Articles of Incorporation with the Secretary of State of Georgia to effect a 1-for-10 reverse stock split of its common stock. The reverse stock split will take effect at 11:59 p.m. Eastern Time on July 31, 2018, and will be effective with respect to shareholders of record at the close of business on that date (the “Effective Time”). As a result, at the Effective Time, the Company’s 21.1 million outstanding shares of common stock will be reduced to 2.1 million. Shareholders who would otherwise hold fractional shares of the Company’s common stock as a result of the reverse stock split will be entitled to receive cash in lieu of such fractional shares. The reverse stock split will not have an impact on the overall economic value of the Company; however since the reverse stock split will reduce the number of common shares outstanding it is expected to result in a corresponding increase in the bid price of the Company’s common stock.

The Company’s shares of common stock will continue to trade on the OTC Markets Group under the symbol “CCFH” with the letter “D” added to the end of the trading symbol for a period of 20 trading days to indicate that the reverse stock split has occurred. Following the 20 day period, the ticker symbol will revert back to “CCFH.” In addition, the Company’s shares of common stock will also trade under a new CUSIP number effective August 1, 2018. Shareholders of record as of the Effective Time will receive a letter of transmittal from the Company’s transfer agent with instructions regarding the exchange of their common stock certificates into new certificates reflecting the post-split shares owned.

About CCF Holding Company

With $493 million in total assets as of June 30, 2018, CCF Holding Company, through its wholly-owned subsidiary, Heritage Bank, offers a broad range of financial services through its six branches in Clayton, Henry, and Fayette counties in Georgia.

The Company’s common stock trades on the OTC Markets Group under the symbol “CCFH.”

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, which can be identified by words such as “expected,” “will,” “plan,” “likely” “project,” “may,” and similar references to future periods. Forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Factors which could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements include, but are not limited to: (1) the strength of the United States economy in general and the strength of the local economies in which the Company conducts its operations which could result in, among other things, a deterioration in the credit quality or a reduced demand for credit, including the resultant effect on our loan portfolio and allowance for loan losses and the rate of delinquencies and amounts of charge-offs, or adverse changes in asset quality in our loan portfolio, which may result in increased credit risk-related losses and expenses; (2) adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) and the impact of such conditions on the Company; and (3) actions taken by banking regulatory agencies related to the banking industry in general and the Company or Heritage Bank specifically. The assumptions underlying the forward-looking statements could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our Company or any person that the future events, plans, or expectations contemplated by our Company will be achieved. All subsequent written and oral forward-looking statements concerning the Company or any person acting on its behalf is expressly qualified in its entirety by the cautionary statements above. We do not undertake any obligation to update any forward-looking statement to reflect changes in circumstances or events that occur after the date the forward-looking statements are made.

CCF Holding Company
Leonard Moreland, 770-478-8881
Chief Executive Officer