Peach State Bank & Trust announces 2008 results at shareholders meeting

GAINESVILLE - Peach State Bank & Trust reports the results of operations for the year ended December 31, 2008 at its recent Annual Shareholders Meeting.

Net income for the year was $75,095 or $0.06 per share or $0.05 per diluted share. Total assets of $167.1 million at December 31, 2008 represent a 44.0 percent increase in total assets of $116.0 million at December 31, 2007. Total loans increased $38.9 million since December 31, 2007, or 43.5 percent, reaching $128.5 million at December 31, 2008. Total deposits were $144.6 million at December 31, 2008, up $45.4 million or 45.8 percent from December 31, 2007.

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