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GWINNETT BANCSHARES TO REPURCHASE STOCK

 GWINNETT BANCSHARES TO REPURCHASE STOCK
 LAWRENCEVILLE, Ga., March 20 /PRNewswire/ -- Gwinnett Bancshares,


Inc. (NASDAQ: GBSI), the holding company for Gwinnett Federal Bank, FSB of Lawrenceville, Ga., announced today plans to purchase up to 69,700 shares of its outstanding common stock in the open market.
 The stock will be purchased at such times and in such amounts as management determines, subject to applicable regulations.
 In making the announcement, James F. Pack, president of Gwinnett Bancshares, stated: "I am pleased to announce that due to our bank's financial strength and profitability, we are able to continue to repurchase shares of our common stock. The repurchase program will benefit our shareholders."
 Gwinnett Bancshares recently reported earnings of $2.3 million for 1991, which was $1.44 per share. At Dec. 31, 1991, it had assets of $290 million and deposits of $251 million. Gwinnett Bancshares recently increased its quarterly dividend from $.10 to $.11 per share of common stock. Gwinnett Federal Bank owns and operates seven branches in Gwinnett County, Ga. 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."
 -0- 3/20/92
 /CONTACT: James F. Pack, president, or Robert F. Huttman, chief financial officer of Gwinnett Bancshares, 404-995-6000/
 (GBSI) CO: Gwinnett Bancshares, Inc. ST: Georgia IN: FIN SU: OFR


BR-BN -- AT001 -- 0009 03/20/92 10:07 EST
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Publication:PR Newswire
Date:Mar 20, 1992
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