GB&T Bancshares declares cash dividend for fourth quarter 2001

GAINESVILLE - The Board of Directors
of GB&T Bancshares Inc. declared a cash dividend of 8 cents per share for the quarter ending Dec. 31, 2001. The dividend was declared on Jan. 21, 2002, for payment on Jan. 31 to stockholders of record as of Jan. 22,
2002.

This represents a 6.7% increase over the dividend declared for the same period in 2000.

The dividend is based on fourth quarter earnings of $1,438,000, which is an increase of 14.9% over consolidated fourth quarter earnings of $1,251,000 in 2000.

Exclusive of non-recurring merger expenses, 2001 year-to-date earnings equate to $5,095,000, with earnings per share of $1.09. This translates to fourth quarter and year-to-date 2001 earnings per share of $.30 and $.85 respectively, compared to consolidated earnings per share of $.27 and $.93 for the same periods in 2000. Consolidated year-to-date 2001 earnings came to $3,970,000, compared to consolidated year-to-date earnings of $4,309,000 for the same period in 2000.

Additionally, the holding company announced that Charles Brock, owner of Brock Investments Inc., has been named to the Board of Directors for Community Trust Bank, a subsidiary of GB&T Bancshares. Brock also serves on the boards
of Wellstar Regional Hospital as well as the Boys and Girls Club of Metro Atlanta.

GB&T Bancshares is the parent company of Gainesville Bank & Trust, United Bank & Trust in Polk County, Community Trust Bank in Paulding and Cobb counties and Community Loan Company. The merger with Community Trust Financial Services Corporation was completed at the close of business on June 30, 2001.

"Our member companies have established a beneficial working relationship at the holding company level, while enjoying the autonomy to operate independently in their respective markets," said Richard Hunt, president and
CEO of GB&T Bancshares.

As of 12/31/01, total assets for GB&T Bancshares climbed to over $548 million, which, compared to consolidated assets of $512 million on December 31, 2000, represents a growth rate of over 7.03%.*

GB&T Bancshares is publicly traded on the NASDAQ national market under the trading symbol GBTB.

All prior year numbers have been restated to reflect the merger of GB&T Bancshares Inc. and Community Trust Financial Services Corporation under the "pooling of interests" method of accounting.