GAINESVILLE, Ga., June 17, 2005 (PRIMEZONE) -- GB&T Bancshares, Inc. (Nasdaq:GBTB) has been ranked in the top 100 of Georgia's top performing companies, making the state's top 100 list for the sixth consecutive year. According to the Atlanta Journal-Constitution's 12th annual Best of Business Section -- better known as the Georgia 100 -- GB&T Bancshares, Inc. (GB&T) ranked 64th and was one of 21 bank holding or financial services companies to make the list and the only company headquartered in Gainesville. This represents a significant improvement in the company's ranking, as GB&T ranked 82nd in 2004.
To qualify as one of the top performing organizations, companies were ranked by five weighted variables: annual revenue, return on equity, year-over-year revenue change, annual change in profit margin for fiscal 2004 and total return on investment (share price change plus reinvested dividends) for calendar 2004. The figures were compiled and processed by PricewaterhouseCoopers L.L.P.
For the first time, GB&T ranked as one of Georgia's 100 biggest companies with a 25.7% increase in revenue from 2003. In addition, the company ranked 41st in total return (share price gain plus reinvested dividends in 2004) with a total return of 29.3%. GB&T also ranked as one of the state's top 100 performers on two additional financial variables -- return on equity and year-to-date stock price change since December 31, 2004, as of the closing price on 6/19/05.
Total assets were $1.3 billion at December 31, 2004, an increase of $329.9 million, or 34.9 percent, from December 31, 2003. Total revenue, defined as net interest income plus non-interest income, was $52.1 million for the fiscal year 2004, an increase of 25.7 percent over the $41.4 million reported in 2003.
GB&T consummated its acquisition of Gwinnett-based FNBG Bancshares, Inc, parent company of First National Bank of Gwinnett, with $125 million in assets, on March 1, 2005.
GB&T Chairman Philip Wilheit commented, "Once again, we are pleased to be recognized as one of Georgia's top-performing companies. Our entire management team understands the importance of high-level customer service delivered through personal community banking, and we continue to show strong financial performance in each market we serve."
Richard Hunt, President and CEO, continues, "Our growth strategy continued into 2005 as we welcomed the customers, employees and stockholders of First National Bank of Gwinnett into our family of community banks. The bank is located in the high-growth metro Atlanta community of Duluth, and we look forward to expanding our customer base in this new market."
About GB&T Bancshares, Inc.
Based in Gainesville, Georgia, GB&T Bancshares, Inc. is a multi-bank holding company operating six community banks: Gainesville Bank & Trust (including its three divisions -- Bank of Athens, Lumpkin County Bank and Southern Heritage Bank), United Bank & Trust, Community Trust Bank, HomeTown Bank of Villa Rica, First National Bank of the South and First National Bank of Gwinnett. In addition, the Company owns a consumer finance company, Community Loan Company, with eight offices located in Northern Georgia. As of March 31, 2005, GB&T Bancshares had assets of $1.47 billion, with 26 branches located in eleven Georgia counties. GB&T Bancshares' common stock is listed on the Nasdaq National Market under the symbol "GBTB." Visit the Company's website www.gbt.com for additional information about GB&T.
Forward-Looking Statements
Any projections, plans, goals, estimates or statements of expectation herein, made on behalf of GB&T Bancshares and/or its affiliate institutions, should be considered forward-looking statements, according to the Private Securities Litigation Reform Act of 1985. They involve risks and uncertainties, and are subject to change by conditions outside the control of GB&T Bancshares, as well as by internal modifications. The conditions and factors influencing such projections and expectations include, but are not limited to: varying interest rates, changes in regulatory requirements, fluctuating loan demand, economic shifts and modifications to accounting procedures.