ATLANTA, Oct. 23 /PRNewswire/ -- Premier Bancshares, Inc. (Amex: PMB) has
declared a quarterly cash dividend of $.09 per share. The Company declared the
dividend payable to shareholders of record as of November 2, 1998. The
dividend is to be paid November 12, 1998.
On October 19, 1998, the Company reported net earnings of $4,709,000 or
$0.19 per share for the quarter ended September 30, 1998. This compares to
third quarter earnings of $5,031,000 or $0.20 per share for the same period in
1997. Included in the net earnings were non-recurring merger related expenses
of $2.3 million associated with recent acquisitions which were partially
offset by a pre-tax gain of $1.1 million on the sale of securities. Net
income, excluding after-tax merger expenses, for the third quarter was
$6,244,000 or $0.25 per share versus $0.21 per share excluding merger expenses
for the same quarter in 1997. All financial results have been restated for the
acquisitions of Button Gwinnett Financial Corporation and The Bank Holding
Company which closed during the third quarter.
Year-to-date the Company reported earnings of $16,405,000 or
$0.65 per share. This represents a 19.9% increase in per share income over the
nine month period ended September 30, 1997, of $13,686,000 or $0.55 per share.
Premier is a multi-bank holding company headquartered in Atlanta, Georgia
with total assets of approximately $1.3 billion, and after pending
consolidations, will have subsidiaries operating 45 offices in Georgia and
other metropolitan areas throughout the Southeast.
SOURCE Premier Bancshares, Inc.
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Related links:
http://www.premierbancshares.com
Company News On-Call:
http://www.prnewswire.com/comp/283325.html or fax,
800-758-5804, ext. 283325
CONTACT:
Michael E. Ricketson, Executive Vice
President, Premier Bancshares, Inc., 404-814-3090
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