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FIRST GEORGIA HOLDING REPORTS EARNINGS, DECLARATION OF DIVIDEND

 BRUNSWICK, Ga., Jan. 14 /PRNewswire/ -- First Georgia Holding, Inc. (NASDAQ: FGHC) announced today it is paying a $.05 per share dividend to stockholders of record as of Jan. 5.
 This marks the first occasion in the company's 8-year history that a dividend was declared. The company paid the dividend in response to strong performance for fiscal year ended Sept. 30, 1992, and continued favorable earnings for the quarter ended Dec. 31, 1992. The company earned $169,340 or $.19 per share for the first quarter ended Dec. 31, 1992, compared to $129,139 or $.15 per share for the same quarter in 1991. The company attributes the increase to higher interest margins, reduced non-performing assets and a continued effort to reduce non- interest expenses.
 Qtr. ended 12/31/92 12/31/91
 Earnings before taxes $ 273,190 $ 203,985
 Net income 169,340 129,139
 Total assets 142,245,044 142,375,938
 Loan loss reserve 1,083,560 1,043,238
 ROA 0.48 pct. 0.36 pct.
 ROE 8.12 pct. 6.94 pct.
 Loan loss reserve/loans 0.89 pct. 0.88 pct.
 Note: All per share information based upon 879,434 shares.
 -0- 1/14/93
 /CONTACT: Robert E. Curry Jr., vice president of First Georgia Holdings, 912-267-7283/
 (FGHC)


CO: First Georgia Holdings, Inc. ST: Georgia IN: FIN SU: ERN DIV

BR-BN -- AT015 -- 4988 01/14/93 15:21 EST
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Publication:PR Newswire
Date:Jan 14, 1993
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