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FIRST NATIONAL BANCORP, FIRST NATIONAL BANCSHARES OF PAULDING COUNTY COMPLETE MERGER

FIRST NATIONAL BANCORP, FIRST NATIONAL BANCSHARES OF PAULDING COUNTY
 COMPLETE MERGER
 GAINESVILLE, Ga., Jan. 31 /PRNewswire/ -- The shareholders of First National Bancshares of Paulding County, Inc., parent company of First National Bank of Paulding County, have overwhelmingly approved a merger with First National Bancorp (NASDAQ: FBAC) of Gainesville, Ga., according to an announcement by Paulding County President and CEO J. Michael Womble.
 The action came in a special meeting of the Paulding County Bancshares shareholders on Tuesday evening, Jan. 28. The merger has received regulatory approval and is complete, effective Jan. 30.
 With total assets of $175 million, First National Bank of Paulding County is First National Bancorp's 12th bank and marks the company's first move into northwest Georgia.
 "First National Bank of Paulding County is proud to be entering into an affiliation with First National Bancorp," said Womble. "The merger will enhance our opportunities and allow our bank to provide expanded services to the community." Womble emphasized that there would be no change in the management or staff of the bank, and that the bank would continue to be locally operated as First National Bank of Paulding County under the leadership of its current board of directors.
 Richard A. McNeece, president of First National Bancorp, indicated pleasure over the pending transaction which follows the company's announced policy of expansion.
 "First National Bank is a fine organization with an excellent reputation and a superb management team and staff," said McNeece. "The quality service and financial strength of First National Bank makes them a natural fit into the Bancorp family. We welcome them."
 Upon consummation of the merger, First National Bancorp reached a record assets level of $1.8 billion. The north Georgia-based bank holding company has 12 affiliate banks.
 -0- 1/31/92
 /CONTACT: Peter D. Miller, president of First National Bancorp, 404-535-5566/
 (FBAC) CO: First National Bancorp; First National Bancshares of Paulding
 County, Inc. ST: Georgia IN: FIN SU: TNM


BN-BR -- AT003 -- 5529 01/31/92 10:23 EST
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Publication:PR Newswire
Date:Jan 31, 1992
Words:330
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