ATLANTA, April 29 /PRNewswire/ -- Premier Bancshares, Inc. (Amex: PMB) has
announced plans to divest one of its Premier Bank branches. Premier has
entered into an agreement with Colonial BancGroup of Montgomery, Alabama for
Premier's Wade Green Road branch to become a Colonial Bank branch office on
June 19, 1998.
    "We will continue to serve the North Cobb market through our Barrett
Parkway, Kennesaw and Acworth offices. By divesting the Wade Green branch, we
will be able to re-deploy those assets to support our new branch which is
under development on the Square in Marietta," said Darrell Pittard, Chairman
and CEO of Premier Bancshares, Inc.
    "The addition of this branch to our existing network of Mableton, Windy
Hill, Johnson Ferry and Town Center branches within Cobb county is a great
opportunity for us. The name of the bank may be changing, but the same
friendly staff will be available to serve the community's banking needs," said
Walter Parrent, President and CEO of Colonial Bank - Atlanta.
    Colonial Bank - Atlanta is a subsidiary of Colonial BancGroup (NYSE: CNB),
a multi-state bank holding company headquartered in Montgomery, Alabama with
assets of $8 billion. BancGroup has 228 offices located throughout the
Southeast. Its common stock is traded on the New York Stock Exchange under the
symbol CNB.
    Premier Bancshares is a multi-bank holding company with assets of
$822,000,000 and has 33 offices located throughout the Southeast. Premier is
traded on the American Stock Exchange, Amex, under the symbol PMB.

Link to this page: