GB&T Bancshares, Inc. named as one of State's top performers

GAINESVILLE - GB&T Bancshares, Inc., parent company of Gainesville Bank & Trust in Hall County, United Bank & Trust in Polk County, Community Trust Bank in Paulding County and Community Loan Company, has been ranked as one of Georgia&#39;s 100 top performing companies for the third consecutive year.<br> <br> According to the Atlanta Journal-Constitution&#39;s 9th annual Best of Business Section - better known as the Georgia 100 -- GB&T was one of 19 bank holding companies to make the list, and was the only company listed that is headquartered in Gainesville.<br> <br> In April of this year, GB&T Bancshares announced that the company had experienced record first quarter earnings, which led the Board of Directors to increase the quarterly cash dividend to 8-1/2 cents per share. <br> <br> First quarter earnings climbed to $1,497,000, which is an increase in excess of 42% over<br> consolidated first quarter earnings for the same period in 2001.<br> <br> Annual earnings for 2001 came to $3,970,000 or $.82 per diluted share. Exclusive of non-recurring expenses related to the merger with Community Trust Financial Services Corporation, 2001 earnings rose to $5,095,000, with diluted earnings per share of $1.06.<br> <br> &#34;I am so pleased that our company has once again been recognized as one of the state&#39;s top performers,&#34; commented Richard Hunt, President and CEO. &#34;In the midst of a challenging year for our industry and our country, GB&T crossed yet another milestone as assets climbed to over a half a billion dollars.&#34;<br> <br> To qualify as one of the top performing organizations, companies were ranked by five weighted variables; Revenue, Return on Equity (ROE), Year-Over-Year Revenue Change, Change in Profit Margin and Total Return on Investment. The figures were compiled and processed by PricewaterhouseCoopers<br> L.L.P.<br> <br>

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