Georgia-Carolina Bancshares, Inc. is a one-bank holding company and owns 100% of the issued and outstanding stock of First Bank of Georgia, an independent, locally owned state-chartered commercial bank which opened for business in 1989. The Bank operates three offices in Augusta, Georgia, two offices in Martinez, Georgia and one office in Thomson, Georgia.
The Bank operates as a locally owned bank that targets the banking needs of individuals and small to medium-sized businesses by emphasizing personal service. The Bank offers a full range of deposit and lending services and is a member of an electronic banking network that enables its customers to use the automated teller machines of other financial institutions. In addition, the Bank offers commercial and business credit services, as well as various consumer credit services, including home mortgage loans, automobile loans, lines of credit, home equity loans and home improvement loans. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation (the “FDIC”).
The Company was incorporated under the laws of the State of Georgia in January 1997 at the direction of the Board of Directors of the Bank based on a plan of reorganization developed by the Board to substantially strengthen the Bank’s competitive position. The reorganization, in which the Bank became a wholly owned subsidiary of the Company, was completed in June 1997.
The following table sets forth the location of each of the Bank’s branch offices and the date each branch opened for business:
[TABLE] Branch Date Opened
Hill Street Office, Thomson, Georgia
January 1989
Daniel Village Office, Augusta, Georgia
March 1999
West Town Office, Martinez, Georgia
October 1999
Medical Center Office, Augusta, Georgia
January 2001
Fury’s Ferry Road Office, Martinez, Georgia
April 2002
Main Office, Augusta, Georgia
September 2005 [/TABLE]
In September 1999, the Bank established a mortgage division which operates as First Bank Mortgage (the “Mortgage Division”). The Mortgage Division originates mortgage loans and offers a variety of other mortgage products. As of December 31, 2005, First Bank Mortgage had locations in the Augusta and Savannah, Georgia markets as well as the Jacksonville, Florida market.
In December 2003, the Bank established a financial services division which operates as FB Financial Services. FB Financial Services offers financial planning and investment services through its relationship with Linsco/Private Ledger (Member NASD/SIPC), one of the nation’s leading independent brokerage firms. A joint office of FB Financial Services and Linsco/Private Ledger is located in the Bank’s Main Office location on Wheeler Road in Augusta.
For further information responsive to this item, see “Management’s Discussion and Analysis of Financial Condition and Results of Operation” in Item 7 of this report.
The Bank operates as a locally owned bank that targets the banking needs of individuals and small to medium-sized businesses by emphasizing personal service. The Bank offers a full range of deposit and lending services and is a member of an electronic banking network that enables its customers to use the automated teller machines of other financial institutions. In addition, the Bank offers commercial and business credit services, as well as various consumer credit services, including home mortgage loans, automobile loans, lines of credit, home equity loans and home improvement loans. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation (the “FDIC”).
The Company was incorporated under the laws of the State of Georgia in January 1997 at the direction of the Board of Directors of the Bank based on a plan of reorganization developed by the Board to substantially strengthen the Bank’s competitive position. The reorganization, in which the Bank became a wholly owned subsidiary of the Company, was completed in June 1997.
The following table sets forth the location of each of the Bank’s branch offices and the date each branch opened for business:
[TABLE] Branch Date Opened
Hill Street Office, Thomson, Georgia
January 1989
Daniel Village Office, Augusta, Georgia
March 1999
West Town Office, Martinez, Georgia
October 1999
Medical Center Office, Augusta, Georgia
January 2001
Fury’s Ferry Road Office, Martinez, Georgia
April 2002
Main Office, Augusta, Georgia
September 2005 [/TABLE]
In September 1999, the Bank established a mortgage division which operates as First Bank Mortgage (the “Mortgage Division”). The Mortgage Division originates mortgage loans and offers a variety of other mortgage products. As of December 31, 2005, First Bank Mortgage had locations in the Augusta and Savannah, Georgia markets as well as the Jacksonville, Florida market.
In December 2003, the Bank established a financial services division which operates as FB Financial Services. FB Financial Services offers financial planning and investment services through its relationship with Linsco/Private Ledger (Member NASD/SIPC), one of the nation’s leading independent brokerage firms. A joint office of FB Financial Services and Linsco/Private Ledger is located in the Bank’s Main Office location on Wheeler Road in Augusta.
For further information responsive to this item, see “Management’s Discussion and Analysis of Financial Condition and Results of Operation” in Item 7 of this report.
