NBG Bancorp, announces record earnings, declares first dividend

ATHENS - NBG Bancorp, recently reported the results of operations for the quarter and year ending December 31.

Earnings of $3.0 million, or $2.18 per share, are the highest in the history of the company and exceed 2012 net earnings of $2.3 million by 32 percent.

In recognition of the record earnings, The Board of Directors declared a dividend of $0.10 per share to stockholders of record as of December 31. The dividend will be paid at the end of January.

Total assets of $328.9 million on December 31, 2013 represent a 4.2 percent increase from total assets of $315.8 million on December 31, 2012. Gross loans were $284.8 at December 31, 2013, up 15.1 percent from December 31, 2012.

President and CEO Bill Hopper III said, "2013 was an exceptional year for The National Bank of Georgia. We achieved the highest earnings in the history of the bank and pleased to pay the first dividend to our loyal shareholders. We have several new products and services that will be available to customers in 2014. We will launch a loyalty rewards deposit product and overdraft privilege program in the first quarter. A new ATM in Gainesville will be installed and we will offer a mobile banking solution later in the year.

NBG Bancorp is a bank holding company which operates banking offices in Athens and Gainesville.