Profile: Georgia Bancshares Inc (GABA.PK)
9 Dec 2013
Georgia Bancshares, Inc., incorporated in February 1995, is the holding company for Community Bank of Georgia (the Bank). The Bank is a community oriented commercial bank that focuses on retail banking and offers such customary banking services as consumer and commercial checking accounts, savings accounts, certificates of deposit, commercial and consumer loans, money transfers and a variety of other banking services. The Bank has two offices, one office in Tucker (DeKalb County) and one office in Lilburn (Gwinnett County), both suburbs of metropolitan Atlanta, Georgia, and conducts its banking activities primarily in these counties. At December 31, 1998, the Company had total assets of $82.6 million and total deposits of $71.8 million. Revenues for 1998 were $6.3 million compared to $5.4 million for 1997.
The principal business of the Bank is to accept deposits from the public and to make loans and other investments in and around DeKalb and Gwinnett Counties, Georgia,its primary service area. The Bank offers a full range of deposit services that are typically available from financial institutions, including NOW accounts, demand, savings and other time deposits. In addition, retirement accounts such as Individual Retirement Accounts are available.
The Bank offers a full range of commercial and personal loans. The Bank makes loans to individuals for purposes such as home mortgage financing, personal vehicles and various consumer purchases, and other personal and family needs. The Bank makes commercial loans to businesses primarily in the primary service area for purposes such as providing equipment and machinery purchases, commercial real estate purchases and working capital. The Bank's loan portfolio at December 31, 1998 contains approximately 14.7% real estate construction loans, 57.2% real estate mortgage loans, 21.8% commercial loans and 6.3% consumer loans. The Bank's loan to deposit ratio at December 31, 1998 was approximately 75.4%.
The principal sources of income for the Bank are interest and fees collected on loans, interest on investment securities and service charges on deposit accounts. The principal expenses of the Bank are interest paid on deposits, employee compensation, office expenses, and other overhead expenses.
Georgia Bancshares Inc
100 Westpark Drive
PEACHTREE CITY GA 30269