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FIRST GEORGIA HOLDING REPORTS QUARTERLY EARNINGS

 FIRST GEORGIA HOLDING REPORTS QUARTERLY EARNINGS
 BRUNSWICK, Ga., July 20 /PRNewswire/ -- First Georgia Holding, Inc.


(NASDAQ: FGHC) reported net income of $172,092 or $.20 per share for the third quarter ended June 30 vs. a loss of $21,804 or $.02 per share for the same quarter in 1991.
 For the nine month period, the company earned $423,463 or $.48 per share vs. earnings of $4,357 or $.005 per share for the same period in 1991. The increase is a result of the continued downward movement of interest rates and the resulting positive impact on interest spread, reductions in personnel costs, and management's continued reduction of non-interest expense. A summary of selected financial information is presented below.
 Quarter ended 9 mos. ended
 6/30/92 6/30/91 6/30/92 6/30/91
 Earnings before
 taxes $ 277,842 $ (21,804) $678,959 $ 4,357
 Net income 172,092 (21,804) 423,463 4,357
 Total assets (000's) 138,331 144,466 --- ---
 Loan loss reserve 1,070,842 272,889 --- ---
 ROA 0.50 pct. (0.06) pct. --- ---
 ROE 8.81 pct. (1.01) pct.
 Loan loss reserve/loans 0.90 pct. 0.24 pct.
 All per share information based upon 879,435 shares.
 -0- 7/20/92
 /CONTACT: Robert E. Curry Jr., vice president of First Georgia Holding, 912-267-7283/
 (FGHC) CO: First Georgia Holding, Inc. ST: Georgia IN: FIN SU: ERN


BR-BN -- AT003 -- 0587 07/20/92 09:08 EDT
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Publication:PR Newswire
Date:Jul 20, 1992
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