ATLANTA, Jan. 21 /PRNewswire/ -- Premier Bancshares, Inc. (Amex: PMB),
announced their preliminary results for the fourth quarter 1997.  The Company
reported record net earnings of $3,079,000, or $.30 per diluted share for the
quarter without restating for the 3-for-2 stock split payable to shareholders
of record on January 23, 1998.  This compares to net earnings of $2,273,000,
or $.23 per diluted share for the same period in 1996 without restating for
the stock split, an increase of 30% over the comparable period.  The Company
incurred $575,000 of merger related expenses during the quarter due to the
acquisition of Traditional Mortgage Corporation in October and Citizens
Gwinnett Bankshares, Inc. in December.
    Restated earnings for the fourth quarter 1997 were $.20 per diluted share
taking into account the 3-for-2 stock split.  Restated earnings for the fourth
quarter 1996 were $.15 per diluted share taking into account the 3-for-2 stock
split.
    Year to date the Company reported record net earnings of $11,193,000, or
$1.10 per diluted share, compared to $7,005,000, or $.70 per diluted share for
the twelve months ended December 31, 1996, without restating for the 3-for-2
stock split, an increase of 56% over the comparable period.  The Company
incurred $1,264,000 of merger related expenses during the year due to several
acquisitions during 1997.
    Restated earnings per diluted share for the 3-for-2 stock split were
$.73 for the twelve months ended December 31, 1997, compared to $.47 for the
same period in 1996.
    Premier's Chairman and Chief Executive Officer, Darrell Pittard, said,
"This past year and particularly the fourth quarter of 1997 were rewarding.
During 1997, Premier's stock price increased over 130%.  That was supported by
our operating income approaching a 20% return on equity, while we experienced
significant market share growth.  Growth in loans, and fee income combined
with continued operating efficiencies, resulted in record annual and quarterly
earnings.  Our recently completed and announced mergers will continue to
provide opportunities for consolidation of operations and new customers to
whom we can cross sell our diverse financial services."
    The Company recently announced the pending mergers of The Bank Holding
Company, Griffin, Georgia and Lanier Bank and Trust, Cumming, Georgia.  These
acquisitions should be consummated during the second quarter of 1998 and will
result in Premier having total assets of approximately $1,000,000,000.
    Premier is a multi-bank holding company with assets of $793,000,000 and
has 33 offices located throughout the southeast.

                           PREMIER BANCSHARES, INC.
                            (preliminary results)

    QUARTER ENDED DECEMBER 31
    (dollars in thousands except
     per share data)                 1997      1996      Change      Percent
    Net income                      $3,079   $2,273        806        35.4%
    Net interest income (FTE)        8,809    7,036      1,773        25.2%
    Net interest income              8,662    6,844      1,818        26.6%
    Noninterest income               6,701    4,261      2,440        57.3%
    Noninterest expense             10,597    8,205      2,392        29.2%
    Provision for loan losses          (50)     (28)       (22)       78.6%

    PER SHARE DATA
    Net income diluted             $  0.30   $  0.23      0.07        30.4%
    Net income (to reflect
      3-for-2 stock split)         $  0.20   $  0.15      0.05        30.4%
    Book Value                     $  6.67   $  5.77      0.89        15.5%
    Book Value (to reflect
      3-for-2 stock split)         $  4.45   $  3.85      0.60        15.5%

    FINANCIAL RATIOS
    Return on average assets         1.57%     1.42%
    Return on average equity        18.60%    15.76%
    Net interest margin (FTE)        4.78%     4.67%
    Total shareholders' equity
      to assets                      8.69%     8.49%
    Allowance for loan losses
      to loans, net of unearned
      and loans held for sale        1.48%     1.79%
    Allowance for loan losses to
      loans, net of unearned         1.64%     1.90%

    ENDING BALANCES AS OF
     DECEMBER 31
    Total assets                  $792,902  $677,298   115,604       17.1%
    Earning assets                 738,518   630,290   108,228       17.2%
    Loans, net of unearned &
      loans held for sale          598,391   425,041   173,350       40.8%
    Loans held for sale             59,363    24,408    34,955      143.2%
    Allowance for loan losses        8,847     7,603     1,244       16.4%
    Investments and federal funds
      sold                         133,650   202,452   (68,802)     (34.0%)
    Deposits                       652,977   577,212    75,765       13.1%
    Shareholders' equity            68,925    57,479    11,446       19.9%
    Intangible Assets                2,817     2,827       (10)      (0.4%)

    AVERAGE BALANCES FOR THE QUARTER
    Total assets                  $776,353  $638,402   137,951       21.6%
    Earning assets                 730,734   599,194   131,540       22.0%
    Loans, net of unearned &
      loans held for sale          592,788   384,809   207,979       54.0%
    Allowance for loan losses        8,932     7,348     1,584       21.6%
    Investments and federal funds
      sold                         136,869   202,537   (65,668)     (32.4%)
    Deposits                       643,062   567,324    75,738       13.4%
    Shareholders' equity            65,673    57,383     8,290       14.4%

    TWELVE MONTHS ENDED DECEMBER 31
    Net income                    $ 11,194  $   7,005    4,189       59.8%
    Net income per share diluted  $   1.10  $    0.70     0.39       56.0%
    Net income per share (to
      reflect 3-for-2 stock split)$   0.73  $    0.47     0.26       56.0%
    Return on average assets          1.53%      1.15%
    Return on average equity         18.15%     12.54%
    Net interest margin (FTE)         4.91%      4.66%

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