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GWINNETT BANCSHARES REPORTS RESULTS

 GWINNETT BANCSHARES REPORTS RESULTS
 LAWRENCEVILLE, Ga., April 15 /PRNewswire/ -- Gwinnett Bancshares,


Inc. (NASDAQ: GBSI), the holding company for Gwinnett Federal Bank, FSB of Lawrenceville, Ga., today reported that its first quarter 1992 net income was $564,000 or $.38 per share, compared with $472,000 or $.30 per share in 1991.
 The return on average assets for the first quarter ended March 31 was .78 percent, compared with .69 percent in the prior year.
 As of March 31, Gwinnett had total assets of $292.6 million, a $15.8 million increase from the previous year. In other year-to-year comparisons, gross loans, including loans serviced for others, increased $14.6 million to $248.9 million; deposits increased $16.6 million to $255.2 million and the reserve for loan losses increased $283,000 to $1.2 million. The stock repurchase program decreased shareholder's equity $656,000 to $35.0 million. Nonperforming assets decreased from $1.3 million at Dec. 31, 1991, to $1.0 million at the end of the quarter. Gwinnett's capital ratio was 11.96 percent of assets on March 31.
 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 3/31/92 3/31/91
 Net income $ 564 $ 472
 Primary earnings per share 0.38 0.30
 Dividends declared per share 0.11 0.10
 Financial ratios:
 Return on average assets 0.78 pct. 0.69 pct.
 Return on average equity 6.39 pct. 5.29 pct.
 Net interest margin 3.40 pct. 3.46 pct.
 Equity/assets 11.96 pct. 12.88 pct.
 Income statement:
 Interest income 5,753 6,236
 Interest expense 3,466 4,064
 Net interest income 2,287 2,172
 Provision for loan losses 180 175
 Noninterest income 618 450
 Noninterest expense 1,831 1,676
 Income taxes 330 299
 Net income 564 472
 Balance sheet (average balances):
 Total assets 290,466 272,350
 Earning assets 269,169 251,077
 Net loans 160,383 177,890
 Total deposits 249,974 233,665
 Shareholders' equity 35,290 35,662
 Primary common shares
 outstanding 1,480,560 1,591,811
 Balance sheet (period ending balances):
 Total assets 292,573 276,764
 Earning assets 272,174 254,480
 Net loans 158,977 179,033
 Gross loans 248,931 234,289
 Total deposits 255,195 238,607
 Shareholders' equity 35,002 35,658
 Actual common shares outst. 1,393,051 1,577,350
 Book value per share 25.13 22.61
 Nonperforming assets
 Non-accrual loans 134 1,182
 REO 911 2,682
 Total nonperforming assets 1,045 3,864
 Reserve for loan losses:
 Beginning balance 1,044 1,003
 Provision for loan losses 180 175
 Net (charge-offs)/recoveries (62) (299)
 Ending balance 1,162 879
 Net charge-offs/average net loans 0.15 pct. 0.67 pct.
 -0- 4/15/92
 /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


BN-BR -- AT012 -- 8710 04/15/92 12:41 EDT
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Date:Apr 15, 1992
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