ATLANTA, June 9 /PRNewswire/ -- Premier Bancshares, Inc. (Amex: PMB)
completed the merger of Lanier Bank and Trust Company in Cumming, Georgia into
its Georgia bank subsidiary Premier Bank. Each share of Lanier Bank and Trust
Company common stock issued and outstanding will be converted into and
exchanged for the right to receive 1.980 shares of Premier Bancshares common
stock.
Premier Bancshares, Inc., is a bank holding company with three
subsidiaries serving the greater metropolitan Atlanta area and key areas of
northeast Georgia: Premier Bank, Central and Southern Bank of Georgia, and
Premier Lending Corporation. Premier Bancshares' subsidiaries operate a total
of 36 offices and with pending acquisitions, Premier Bancshares, Inc. will be
the third largest full-service bank holding company headquartered in Georgia.
Darrell D. Pittard, Chairman and Chief Executive Officer of Premier
Bancshares, Inc. said, "The addition of these offices will enhance Premier's
presence as North Georgia's highest performing bank holding company, and add
to our growing presence in the North Metro Atlanta area."
Premier Bancshares, Inc. has total assets of approximately $910 million,
shareholders' equity of approximately $84 million, and a market capitalization
of approximately $475 million.
SOURCE Premier Bancshares, Inc.
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Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 283325
CONTACT:
Darrell D. Pittard, Chairman and Chief
Executive Officer, or Michael E. Ricketson, Executive Vice
President and Chief Financial Officer, Premier Bancshares, Inc.,
404-814-3090
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