GB&T is a $1.6-billion asset community bank holding company based in Gainesville, Georgia. Established in 2003, Mountain State Bank has offices in both Dawson and Forsyth counties.
GB&T officials noted that both Dawson and Forsyth are ranked among the fastest growing counties in Georgia and the nation, which makes an attractive market addition to the GB&T franchise. The population growth in the communities in which GB&T banks operate has shown an approximately 25% increase over the past 5 years, which is significantly ahead of population growth in Georgia and the country. Mountain State Bank will become the eighth community bank to join GB&T.
Richard Hunt, President and CEO of GB&T and John Lewis, President and CEO of Mountain Bancshares, made the announcement of the planned merger today, which is a 70% stock and 30% cash transaction. Under the terms of the agreement, Mountain Bancshares' stockholders will receive .8911 shares of GB&T Bancshares stock and $8.40 for each share of Mountain Bancshares stock they own
http://accesswdun.com/article/2005/12/119773