ATLANTA, July 23 /PRNewswire/ -- Premier Bancshares, Inc. (AMEX: PMB), has
declared a quarterly cash dividend of $.09 per share.  This dividend is
payable August 20, 1997, to stockholders of record on August 6, 1997.
    Darrell D. Pittard, Chief Executive Officer, said, "This quarter's
dividend is over 12 percent higher than the dividend we paid last quarter.
The increased dividend is a result of both our positive second quarter
earnings and our optimism about future cost savings which should result from
our merger with Central and Southern Holding Company, Inc. that closed on June
23."
    Premier Bancshares, Inc. reported record net earnings of $2,224,000, or
$.28 per share for the quarter.  This compares to net earnings of $1,454,000,
or $.18 per share for the same period in 1996.
    Year to date the Company reported earnings of $4,089,000, or $.52 per
share, compared to $2,959,000, or $.37 per share for the six months ended June
30, 1996.  This is an increase of 38% over the comparable period.  Premier
Bancshares, Inc. assets at June 30, 1997, were $587,424,000, as compared to
assets of $476,674,000 at June 30, 1996.
    On June 24, 1997, Premier Bancshares, Inc. and Citizens Gwinnett
Bankshares, Inc. jointly announced that they had executed a definitive
agreement for Premier Bancshares, Inc. to acquire all of the outstanding
shares of stock of Citizens Gwinnett Bankshares, Inc.  Citizens Gwinnett
Bankshares, Inc. is a single bank holding company operating the third largest
community bank doing business in Gwinnett County, the Citizens Bank of
Gwinnett.  Citizens Gwinnett Bankshares, Inc. has assets of approximately
$155 million, and equity of approximately $11 million.
    The acquisition of Citizens Gwinnett Bankshares, Inc., which is expected
to close before the end of the year, is subject to shareholder and regulatory
approvals and other conditions including, but not limited to, that the
transaction will qualify for "pooling of interests" accounting treatment.  The
acquisition will bring the assets of Premier Bancshares, Inc. to approximately
$700 million.  Premier Bancshares, Inc. is a bank and thrift holding company
with five subsidiaries operating 24 offices located in the state of Georgia.
    For copies of recent press releases and financial reports, contact Michael
E. Ricketson, Chief Financial Officer, at 404-814-3090 or access the Premier
Bancshares Company News Service at http://www.prnewswire.com.

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