First Bank of Georgia reports higher earnings

The holding company for First Bank of Georgia reported this morning that it posted higher earnings in the third quarter.

Augusta-based Georgia-Carolina Bancshares Inc. posted net income of $966,000, or 28 cents per diluted share, for the third quarter, which ended Sept. 30. It is an increase over the $896,000 net income reported in the third quarter of 2007.

“We are extremely pleased with our results given the current state of the economy and the turmoil in the global credit markets. We believe our financial results reflect our conservative management style and the stability of the Augusta economy,” said company chief executive Remer Brinson III.

At the end of the quarter, Georgia-Carolina Bancshares had $451 million in assets.

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