ATLANTA, April 14 /PRNewswire/ -- Premier Bancshares, Inc. (AMEX: PMB),
reported record earnings of $1,151,000 for the quarter ended March 31, 1997.
This is an increase of 51 percent over the same period in 1996, when net
income was $763,000.  Earnings are up 15 percent over the pervious quarter
when net income was $1,002,000.
    On a per share basis, net income for the first quarter of 1997 was
$.27 per share, as compared to $.18 for the first quarter of 1996.  For
purpose of comparison, the 1996 per share earnings have been restated to
reflect the impact of the March 1997 stock split.
    Chairman and Chief Executive Officer, Darrell D. Pittard, said, "First
quarter earnings reflect the substantial increase in loan volume as well as
the earnings enhancements and cost savings we continue to derive from last
year's merger of Premier Bancshares, Inc. and First Alliance Bancorp.  We are
extremely pleased with our record loan growth for the quarter, particularly
because our performance is generally stronger in the last three quarters of
the year due to seasonal influences."
    At March 31, 1997, the Company had total assets of approximately
$312,000,000, which is an increase of $51,000,000 or 20 percent, as compared
to March 31, 1996.
    During the first quarter of 1997, the Company announced a definitive
agreement to merge with Central and Southern Holding Company, a bank and
thrift holding company headquartered in Milledgeville, Georgia.  After the
merger, which is scheduled to close in June of this year, Premier Bancshares,
Inc. will have total assets in excess of $535,000,000.  Other notable first
quarter events included the listing of shares on the American Stock Exchange
(symbol PMB), the payment of a $.30 cash dividend, and a 1.8055-for-1 stock
split.
    Premier Bancshares, Inc. is a bank and thrift holding company with four
subsidiaries serving the greater metropolitan Atlanta area.  Subsidiaries
include First Alliance Bank, Premier Bank, FSB, Premier Lending Corporation,
and Alliance Finance.
    Additional financial information is available from Frank H. Roach,
Executive Vice President and Chief Financial Officer at 770-425-2265.

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