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THE FIRST NATIONAL BANK OF PAULDING COUNTY ANNOUNCES ACQUISITION

 THE FIRST NATIONAL BANK OF PAULDING COUNTY ANNOUNCES ACQUISITION
 DALLAS, Ga., Jan. 10 /PRNewswire/ -- The First National Bank of Paulding County, Ga. (FNB), announced today that it has assumed the insured deposits and certain of the assets of the Citizens Bank of Dallas, Ga.
 The acquisition was made pursuant to an agreement with the Federal Deposit Insurance Corporation. FNB's announcement followed the announcement by the Georgia Department of Banking and Finance that the Citizens Bank had failed and had been placed in receivership with the FDIC.
 FNB's President J. Michael Womble said: "It is most important that the insured depositors of the former Citizens Bank understand that they have full access to their money and to a complete range of banking services through the First National Bank of Paulding County. We are saddened by the circumstances under which this situation developed because nobody likes to see a bank fail. However, we are excited and pleased that our bank has been awarded the opportunity to serve the customers of the Citizens Bank."
 The First National Bank of Paulding County has assets of approximately $125 million and was chartered in 1922. The Citizens Bank had deposits of approximately $50 million.
 Assisting the First National Bank of Paulding County with the transaction was Jeff Allred, an attorney with the firm of Trotter, Smith & Jacobs, who said: "This is an excellent opportunity that FNB earned through its quality service and proven ability in this market. FNB is a strong bank and it is confident that this acquisition will make it even stronger."
 "The management of the First National Bank of Paulding County is looking forward to expanding its branch network in order to better serve our existing customers through this acquisition. We welcome the former customers of the Citizens Bank and commit to providing them the very best banking services available," said Womble.
 -0- 1/10/92
 /CONTACT: Becky Echols of First National of Paulding County, 404-445-2742/ CO: First National Bank of Paulding County; Citizens Bank of Dallas ST: Georgia IN: FIN SU: TNM


BR-BN -- AT010 -- 8747 01/10/92 16:22 EST
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Date:Jan 10, 1992
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