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GWINNETT BANCSHARES, INC. DECLARES STOCK SPLIT

 LAWRENCEVILLE, Ga., Oct. 13 /PRNewswire/ -- On Oct. 12 the board of directors of Gwinnett Bancshares, Inc. (NASDAQ: GBSI)(the "company"), the holding company for Gwinnett Federal Bank, FSB of Lawrenceville, Ga., declared a 3 for 2 stock split of its common stock to be effected by the distribution of one share of the company's common stock for every two shares of the company's common stock outstanding.
 This is the first split of the company's stock since it went public in May 1990.
 The split will be payable on Nov. 15 to holders of record on Nov. 1. Shareholders will get a cash payment instead of fractional shares, based on the closing price on Nov. 1.
 Currently, there are 1,364,951 shares of common stock outstanding. After the 3 for 2 stock split there will be approximately 2,047,000 shares outstanding.
 -0- 10/13/93
 /CONTACT: James F. Pack, chairman and chief executive officer, or Robert F. Huttman, chief financial officer, of Gwinnett Bancshares, 404-995-6000/
 (GBSI)


CO: Gwinnett Bancshares, Inc. ST: Georgia IN: FIN SU:

RA-CF -- AT006 -- 1534 10/13/93 09:34 EDT
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Publication:PR Newswire
Date:Oct 13, 1993
Words:185
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