ATLANTA, Feb. 24 /PRNewswire/ -- Premier Bancshares, Inc. (AMEX: PMB), has
announced a 1.8055-for-1 split of the common stock of the Company with a
record date of March 6, 1997, and a distribution date of March 20, 1997. The
Company currently has 2,353,779 shares outstanding and 136,750 shares issuable
upon the exercise of stock options.
Darrell D. Pittard, Premier Bancshares' Chairman and Chief Executive
Officer, said, "The stock split is being done to enhance the liquidity of our
shares and to facilitate our previously announced plans to merge with Central
and Southern Holding Company headquartered in Milledgeville, Georgia. The
merger, which we anticipate closing late in the second quarter of this year,
provides for Central and Southern Holding Company shares being exchanged on a
one-for-one basis for shares of Premier Bancshares, Inc."
Premier Bancshares, Inc. is a bank and thrift holding company with total
assets at December 31, 1996, of $294,185,000. The Company operates four
subsidiaries serving the greater metropolitan Atlanta area: First Alliance
Bank, the largest community bank in Cobb County with five offices; Premier
Bank with three offices in Cobb, DeKalb, and Gwinnett counties; Premier
Lending, the third largest mortgage lender in metropolitan Atlanta with six
mortgage offices in Cobb, DeKalb, Gwinnett and Henry counties, and a sizable
commercial finance division located in Fulton County; and Alliance Finance, a
consumer finance company with two offices in Cobb and Paulding counties.
Premier Bancshares is traded on the American Stock Exchange under the
symbol "PMB." Additional financial information is available from Frank H.
Roach, executive vice president and chief financial officer, at 404-814-3090.
SOURCE Premier Bancshares, Inc.
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CONTACT:
Darrell D. Pittard, Chairman and Chief
Executive Officer; or Frank H. Roach, Executive Vice President
and Chief Financial Officer, Premier Bancshares, Inc.,
404-814-3090
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