SouthCrest Financial Group in Peachtree City, Ga., said that its chief executive has resigned.

The $560 million-asset holding company for SouthCrest Bank did not provide a reason for Kenneth Maloy's departure. SouthCrest made the announcement in a Friday news release.

Maloy, who was also president and a director of SouthCrest, had been CEO since 2011. He previously was CEO of Bank of Tennessee in Kingsport.

SouthCrest reported third-quarter net income of $661,000, or 8 cents per share, an increase from net income of $60,000 in the third quarter of 2014.

SouthCrest operates 12 branches in Georgia and Alabama, including offices in Chickamauga, Johns Creek and Thomaston, Ga.

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