UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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For the quarterly period ended June 30, 2004 |
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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For the transition period from to |
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Commission File Number: 000-24203
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GB&T Bancshares, Inc. |
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(Exact name of registrant as specified in its charter) |
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Georgia |
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58-2400756 |
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(State or other jurisdiction of |
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(IRS Employer |
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incorporation or organization) |
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Identification No.) |
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500 Jesse Jewell Parkway, S.E. |
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(Address of principal executive offices) |
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(770) 532-1212 |
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(Registrant’s telephone number, including area code) |
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N/A |
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(Former name, former address and former fiscal year, if changed since last report) |
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Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ý No o
Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Exchange Act). Yes ý No o
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the issuer’s classes of capital stock, as of July 30, 2004: 8,609,848 shares; no par value
GB&T BANCSHARES, INC.
TABLE OF CONTENTS
2
PART I - FINANCIAL INFORMATION
ITEM 1 - FINANCIAL STATEMENTS
GB&T BANCSHARES, INC. AND SUBSIDIARIES
(Unaudited)
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June 30, |
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December 31, |
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2004 |
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2003 |
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(Dollars in thousands) |
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Assets |
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Cash and due from banks |
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$ |
19,090 |
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$ |
17,584 |
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Interest-bearing deposits in banks |
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961 |
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535 |
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Federal funds sold |
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9,631 |
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6,534 |
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Securities available for sale |
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146,429 |
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132,945 |
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Restricted equity securities, at cost |
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5,388 |
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4,582 |
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Loans, net of unearned income |
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745,437 |
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709,958 |
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Less allowance for loan losses |
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8,987 |
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8,726 |
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Loans, net |
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736,450 |
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701,232 |
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Premises and equipment, net |
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26,454 |
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25,813 |
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Goodwill and intangible assets |
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32,825 |
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33,043 |
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Other assets |
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23,291 |
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22,010 |
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Total assets |
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$ |
1,000,519 |
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$ |
944,278 |
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Liabilities and Stockholders’ Equity |
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Liabilities: |
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Deposits: |
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Noninterest-bearing |
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$ |
94,548 |
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$ |
90,914 |
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Interest-bearing |
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683,816 |
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637,715 |
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Total deposits |
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778,364 |
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728,629 |
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Federal funds purchased and securities sold under repurchase agreements |
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17,259 |
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17,314 |
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Federal Home Loan Bank advances |
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77,458 |
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75,703 |
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Other borrowings |
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2,234 |
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300 |
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Other liabilities |
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10,309 |
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10,025 |
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Subordinated debt |
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15,464 |
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15,464 |
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Total liabilities |
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901,088 |
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847,435 |
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Stockholders’ Equity: |
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Capital stock, no par value; 20,000,000
shares authorized, |
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68,825 |
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67,983 |
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Retained earnings |
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31,594 |
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28,393 |
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Accumulated other comprehensive income (loss) |
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(988 |
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467 |
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Total stockholders’ equity |
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99,431 |
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96,843 |
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Total liabilities and stockholders’ equity |
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$ | |||||