Originally created 01/12/00

Bancshares appoints officers

Georgia Carolina Bancshares Inc., the holding company of First Bank of Georgia, has appointed two new officers to head operations at its branches in Thomson-McDuffie County.

George Lokey has been named vice president of the bank. He will serve as city executive for the two Thomson-McDuffie County offices. The position has been vacant for about two months, officials said.

Mr. Lokey previously worked for SunTrust bank in Thomson.

Mary Jones has been named vice president of First Bank Thomson-McDuffie County. In the newly created position, Ms. Jones will manage retail banking, sales and service at the bank's Thomson branch on Hill Street.

"The election of these two officers is a real plus for our organization," said Patrick G. Blanchard, president and chief executive officer of Georgia-Carolina Bancshares. "They have both enjoyed good careers in banking and will be a good part of continued services in the Thomson area."

Georgia-Carolina Bancshares has been publicly traded since March, when the holding company held a private placement sale that raised more than $4 million.

"We feel that these additions to our management team will ultimately increase shareholder value in the long term," Mr. Blanchard said.

The stock offering has funded recent expansions in the bank's Columbia County markets. It is listed on the OTC Bulletin Board under the symbol GECR.

Georgia-Carolina Bancshares also announced Tuesday that Morgan Keegan & Co. will be the new principal market maker for its common stock. The holding company's broker recently left market maker J.C. Bradford & Co. to join Morgan Keegan, and the bank chose to switch firms with him, Mr. Blanchard said.

First Bank's total assets were $72 million at the end of 1999.

Reach Heidi Coryell at (706) 823-3215.


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