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GWINNETT BANCSHARES REPURCHASES SHARES

 GWINNETT BANCSHARES REPURCHASES SHARES
 LAWRENCEVILLE, Ga., Jan. 31 /PRNewswire/ -- Gwinnett Bancshares,


Inc. (NASDAQ: GBSI), the holding company for Gwinnett Federal Bank, FSB, today reported that the company has repurchased 141,500 shares owned by major shareholder A. Jack Embry.
 The price paid was $1,877,000, or approximately $13.26 per share. Embry's shares had previously represented 9.2 percent of total stock outstanding. Upon completion of the transaction, Gwinnett has 1,395,051 shares outstanding.
 Gwinnett reported 1991 net income of $2,254,000 or $1.44 per share, which represented a return on average assets of 0.80 percent.
 -0- 1/31/92
 /CONTACT: James F. Pack, president of Gwinnett Bancshares, 404-995-6000/
 (GBSI) CO: Gwinnett Bancshares, Inc. ST: Georgia IN: FIN SU: OFR


BR-BN -- AT006 -- 5619 01/31/92 12:35 EST
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Publication:PR Newswire
Date:Jan 31, 1992
Words:134
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