Georgia-Carolina Bancshares Inc. of Augusta reported Thursday that its net income for the fourth quarter was $935,000, or 26 cents per share, down from $1.3 million, 39 cents per share, in the fourth quarter of 2012.
For the year, the company posted a profit of $6.2 million, down from $6.6 million in 2012.
Total deposits grew in 2013, from $416.9 million at the beginning of the year to $419.7 million.
“2013 has been a year of transition as we’ve seen a continued gradual improvement in the economy and in loan demand. Traditional bank loan demand has increased during the second half of the year, while conventional mortgage loan demand declined somewhat during the period following a robust 2012 and early 2013,” said President and CEO Remer Brinson III.
Loans, excluding loans held for sale, grew 3.3 percent in the year, to $275 million. Its assets in 2013 grew from $506 million to $516 million.
First Bank of Georgia has seven bank branches in Richmond, Columbia and McDuffie counties, and mortgage offices in Augusta and Savannah.