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CHATTAHOOCHEE BANCORP REPORTS 1991 EARNINGS YEAR-END TOTALS SHOW NET INCOME AND PER-SHARE EARNINGS FOURTH QUARTER NET INCOME ADVANCES OVER 1990

 CHATTAHOOCHEE BANCORP REPORTS 1991 EARNINGS
 YEAR-END TOTALS SHOW NET INCOME AND PER-SHARE EARNINGS
 FOURTH QUARTER NET INCOME ADVANCES OVER 1990
 ATLANTA, Feb. 25 /PRNewswire/ -- Chattahoochee Bancorp, Inc. reported net income of $1.2 million and earnings per share on a fully diluted basis of $.31 for the year ended Dec. 31, 1991, according to Rodney Knowles III, chairman.
 The 1991 results compare with 1990 net income of $1.3 million, and earnings per share of $.32 on a fully diluted basis.
 For the quarter ended Dec. 31, 1991, net income totaled $172,000, compared with 1990 fourth quarter net income of $161,000. Earnings per share on a fully diluted basis were $.05 for the quarter ended Dec. 31, 1991, as compared with $.04 for the fourth quarter 1990.
 "The company continued its profitable operations in a year marked by war and economic uncertainty," Knowles said.
 "Our fourth quarter earnings helped us complete the year with relatively stable net income as compared with 1990.
 "Our capital base remains strong and positions us well for growth in the coming year," Knowles said.
 Total assets at Dec. 31, 1991, were $242,059,000, a 5 percent increase from total assets of $230,317,000 at Dec. 31, 1990. Deposits at Dec. 31, 1991, totaled $211,363,000, up 6 percent over total deposits at Dec. 31, 1990.
 At Dec. 31, 1991, the company had outstanding loans of $167,060,000, an increase of 2 percent over total outstanding loans of $163,158,000 at Dec. 31, 1990. The allowance for loan losses totaled $2,501,000 at Dec. 31, 1991, representing 1.50 percent of total loans outstanding. At Dec. 31, 1990, the allowance for loan losses totaled $2,341,000, 1.43 percent of total loans outstanding.
 Net charge-offs for 1991 were $1,724,000, as compared with $1,034,000 incurred in 1990. The loan loss provision for 1991 was $1,884,000 as compared to $1,372,000 for 1990. For the fourth quarter 1991, net charge-offs were $434,000 as compared to $505,000 for the fourth quarter 1990. The provision for loan losses was $724,000 for the fourth quarter ended Dec. 31, 1991, compared to $669,000 for the fourth quarter of 1990.
 Non-accrual loans totaled $2.7 million at Dec. 31, 1991, as compared to $2.3 million at the end of the third quarter 1991 and $3.2 million at Dec. 31, 1990.
 Chattahoochee Bancorp is a metro Atlanta-based bank holding company with The Chattahoochee Bank as its principal subsidiary.
 Chattahoochee Bancorp ranks among the top 15 commercial bank holding companies in Georgia. Its Chattahoochee Bank subsidiary is the sixth-largest non-affiliated bank headquartered in Georgia and operates seven Banking House locations in Fulton, Cobb and DeKalb counties.
 Additional financial information is available from Grey Winstead, chief financial officer, Chattahoochee Bancorp, Inc., 404-952-7750.
 -0- 2/25/92
 /CONTACT: Mike Turnbull of Ketchum Public Relations, 404-873-1711, for Chattahoochee Bancorp/ CO: Chattahoochee Bancorp, Inc. ST: Georgia IN: FIN SU: ERN


BN-BR -- AT009 -- 2451 02/25/92 15:03 EST
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Date:Feb 25, 1992
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