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GWINNETT BANCSHARES REPORTS EARNINGS

 LAWRENCEVILLE, Ga., Jan. 13 /PRNewswire/ -- Gwinnett Bancshares, Inc. (NASDAQ: GBSI), the holding company for Gwinnett Federal Bank, FSB of Lawrenceville, Ga., today reported that its 1992 net income was $2,764,000 or $1.90 per share, compared with $2,254,000 or $1.44 per share in 1991.
 This represents a 23 percent increase in net income over 1991. Gwinnett reported net income of $791,000 or $0.55 per share for the fourth quarter of 1992 as compared to $573,000 or $0.37 per share for the fourth quarter of 1991. Gwinnett's return on average assets for the year ended Dec. 31, 1992 was 0.94 percent, compared to 0.80 percent in the prior year.
 As of Dec. 31, 1992, Gwinnett had total assets of $298.2 million, an $8.1 million increase from the previous year and total deposits of $259.9 million, up $8.7 million from last year.
 During the year, Gwinnett increased its loan loss reserves by $331,000 to $1.4 million, while nonperforming assets decreased $429,000 to $828,000. Gwinnett's capital ratio was 12.10 percent of assets on Dec. 31, 1992.
 Gwinnett was established in 1931 and has seven offices in Gwinnett County. The common stock of Gwinnett Bancshares is traded over-the- counter and quoted on the National Association of Securities Dealers Automated Quotation (NASDAQ) System under the symbol "GBSI."
 Financial highlights follow:
 GWINNETT BANCSHARES, INC.
 Financial Highlights
 Dollars in thousands, except per share data
 Operating ratios are annualized
 3 mos. ended 12/31/92 12/31/91
 Net income $ 791 $ 573
 Net income per share 0.55 0.37
 Dividends declared per share 0.11 0.10
 Financial ratios:
 Return on average assets 1.06 pct. 0.79 pct.
 Return on average equity 8.79 pct. 6.31 pct.
 Net interest margin 3.80 pct. 3.42 pct.
 Net interest spread 3.49 pct. 2.95 pct.
 Equity/assets 12.10 pct. 12.55 pct.
 Income statement:
 Interest income 5,404 6,158
 Interest expense 2,745 3,857
 Net interest income 2,659 2,301
 Provision for loan losses 310 125
 Noninterest income 915 499
 Noninterest expense 1,961 1,784
 Income taxes 512 318
 Net income 791 573
 Balance sheet (average balances):
 Total assets 298,991 288,506
 Earning assets 280,131 268,790
 Net loans 155,617 163,566
 Total deposits 260,000 248,402
 Shareholders' equity 36,000 36,296
 Primary common shares
 outstanding 1,440,475 1,557,036
 Balance sheet (period ending balances):
 Total assets 298,187 290,107
 Earning assets 277,740 271,256
 Net loans 150,524 161,805
 Gross loans 275,397 238,626
 Total deposits 259,916 251,243
 Shareholders' equity 36,093 36,418
 Actual common shares
 outstanding 1,364,951 1,528,551
 Book value per share 26.44 23.83
 Nonperforming assets
 Non-accrual loans 123 160
 REO 705 1,097
 Total nonperforming assets 828 1,257
 Reserve for loan losses:
 Beginning balance 1,267 1,016
 Provision for loan losses 310 125
 Net (charge offs),/recoveries (202) (97)
 Ending balance 1,375 1,044
 Net charge-offs/avg. net loans 0.52 pct. 0.24 pct.
 12 mos. ended 12/31/92 12/31/91
 Net income $ 2,764 $ 2,254
 Net income per share 1.90 1.44
 Dividends declared per share 0.44 0.40
 Financial ratios:
 Return on average assets 0.94 pct. 0.80 pct.
 Return on average equity 7.79 pct. 6.26 pct.
 Net interest margin 3.57 pct. 3.46 pct.
 Net interest spread 3.23 pct. 2.96 pct.
 Equity/assets 12.10 pct. 12.55 pct.
 Income statement:
 Interest income 22,232 24,876
 Interest expense 12,380 15,898
 Net interest income 9,852 8,978
 Provision for loan losses 970 640
 Noninterest income 3,018 2,113
 Noninterest expense 7,425 6,906
 Income taxes 1,711 1,291
 Net income 2,764 2,254
 Balance sheet (average balances):
 Total assets 294,504 280,412
 Earning assets 275,738 259,745
 Net loans 158,532 173,474
 Total deposits 255,955 240,371
 Shareholders' equity 35,501 35,980
 Primary common shares
 outstanding 1,451,823 1,570,652
 Balance sheet (period ending balances):
 Total assets 298,187 290,107
 Earning assets 277,740 271,256
 Net loans 150,524 161,805
 Gross loans 275,397 238,626
 Total deposits 259,916 251,243
 Shareholders' equity 36,093 36,418
 Actual common shares
 outstanding 1,364,951 1,528,551
 Book value per share 26.44 23.83
 Nonperforming assets
 Non-accrual loans 123 160
 REO 705 1,097
 Total nonperforming assets 828 1,257
 Reserve for loan losses:
 Beginning balance 1,044 1,003
 Provision for loan losses 970 640
 Net (charge offs),/recoveries (639) (599)
 Ending balance 1,375 1,044
 Net charge-offs/avg. net loans 0.40 pct. 0.35 pct.
 -0- 1/13/91
 /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: ERN

RA-BR -- AT005 -- 4457 01/13/93 11:52 EST
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Date:Jan 13, 1993
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