SNB Bancshares, Inc. Announces First Quarter Results

Apr 10, 2001, 01:00 ET from SNB Bancshares, Inc.

    MACON, Ga., April 10 /PRNewswire/ -- SNB Bancshares, Inc. (Nasdaq:   SNBJ)
 today announced net income of $897,508, or $.266 per diluted share for the
 quarter ended March 31, 2001.  Total assets were $431,977,300 at quarter-end,
 which represents an increase of 51.9% over 2000.  Deposits were $335,537,498,
 up 40.1% and loans were up 65.1% over 1st Quarter 2000.   As of March 31,
 2001, SNB Bancshares, Inc. had total equity of $32,069,299, up 14.5% over
 2000.  Please refer to the table below for further details on the company's
 performance during 1st Quarter of 2001.
     "We are extremely pleased with our first quarter's showing," said Rett
 Walker, President and CEO of SNB Bancshares, Inc.  "Our core banking franchise
 is continuing to grow and our purchase last year of Fairfield Financial is
 starting to pay real dividends for our shareholders.  That purchase is
 allowing us to take advantage of the current down-turn in mortgage rates and,
 through cross-selling, attract even more customers to our great banks.  To be
 able to show a double-digit increase in profitability and earnings per share
 demonstrates the strength of our franchise and our employees' commitment to
 hard work.  We are excited about 2001 and are optimistic concerning our
 earning potential for the rest of the year."
     SNB Bancshares, Inc. is a multi-bank holding company whose wholly owned
 subsidiaries include Security Bank of Bibb County, Macon, Georgia, Security
 Bank of Houston County in Perry and Warner Robins, Georgia.  Fairfield
 Financial Services, Inc. is a wholly owned subsidiary of the Bibb County Bank.
 SNB Bancshares, Inc. has 10 banking offices in the Middle Georgia market, plus
 mortgage-lending offices in Macon, Warner Robins, Savannah, Richmond Hill, St.
 Simons, Fayetteville, and Columbus.  The two banks are active in retail
 banking, small business, consumer, and commercial lending, while the mortgage
 subsidiary makes home loans to individuals and construction and development
 loans to the real estate industry.
     For more information, contact Rett Walker, President and CEO, Richard
 Collinsworth, Executive Vice President, Or Mike O'Dillon, Chief Financial
 Officer at (478) 722-6220 or visit the company's web site at
 www.SecurityBank.net .
 
 
                              SNB BANCSHARES, INC.
                              FINANCIAL HIGHLIGHTS
                                  (UNAUDITED)
 
 
      (Dollars in Thousands, Except Per Share and Shares Outstanding Data)
 
                              QUARTER ENDED                 YEAR-TO-DATE
                        03/31     03/31      %       03/31      03/31     %
                         2001      2000    Change     2001       2000   Change
     Net Income          $898       $808   11.1%       $898       $808  11.1%
     Diluted Earnings
      Per Share       $ 0.266    $ 0.241   10.3%    $ 0.266    $ 0.241  10.3%
     Cash Dividend
      Paid Per Share  $ 0.070    $ 0.065    7.7%    $ 0.070    $ 0.065   7.7%
     Assets          $431,977   $284,314   51.9%   $431,977   $284,314  51.9%
     Deposits        $335,537   $239,533   40.1%   $335,537   $239,533  40.1%
     Loans (Net)     $354,355   $214,614   65.1%   $354,355   $214,614  65.1%
     Shareholders
      Equity          $32,069    $28,002   14.5%    $32,069    $28,002  14.5%
     Shareholders
      Equity/Assets     7.42%      9.85%  -24.6%      7.42%      9.85% -24.6%
     Book Value
      Per Share         $9.51      $7.70   23.4%      $9.51      $7.70  23.4%
     Shares
      Outstanding   3,372,969  3,340,624    1.0%  3,372,969  3,340,624   1.0%
 
 

SOURCE SNB Bancshares, Inc.
    MACON, Ga., April 10 /PRNewswire/ -- SNB Bancshares, Inc. (Nasdaq:   SNBJ)
 today announced net income of $897,508, or $.266 per diluted share for the
 quarter ended March 31, 2001.  Total assets were $431,977,300 at quarter-end,
 which represents an increase of 51.9% over 2000.  Deposits were $335,537,498,
 up 40.1% and loans were up 65.1% over 1st Quarter 2000.   As of March 31,
 2001, SNB Bancshares, Inc. had total equity of $32,069,299, up 14.5% over
 2000.  Please refer to the table below for further details on the company's
 performance during 1st Quarter of 2001.
     "We are extremely pleased with our first quarter's showing," said Rett
 Walker, President and CEO of SNB Bancshares, Inc.  "Our core banking franchise
 is continuing to grow and our purchase last year of Fairfield Financial is
 starting to pay real dividends for our shareholders.  That purchase is
 allowing us to take advantage of the current down-turn in mortgage rates and,
 through cross-selling, attract even more customers to our great banks.  To be
 able to show a double-digit increase in profitability and earnings per share
 demonstrates the strength of our franchise and our employees' commitment to
 hard work.  We are excited about 2001 and are optimistic concerning our
 earning potential for the rest of the year."
     SNB Bancshares, Inc. is a multi-bank holding company whose wholly owned
 subsidiaries include Security Bank of Bibb County, Macon, Georgia, Security
 Bank of Houston County in Perry and Warner Robins, Georgia.  Fairfield
 Financial Services, Inc. is a wholly owned subsidiary of the Bibb County Bank.
 SNB Bancshares, Inc. has 10 banking offices in the Middle Georgia market, plus
 mortgage-lending offices in Macon, Warner Robins, Savannah, Richmond Hill, St.
 Simons, Fayetteville, and Columbus.  The two banks are active in retail
 banking, small business, consumer, and commercial lending, while the mortgage
 subsidiary makes home loans to individuals and construction and development
 loans to the real estate industry.
     For more information, contact Rett Walker, President and CEO, Richard
 Collinsworth, Executive Vice President, Or Mike O'Dillon, Chief Financial
 Officer at (478) 722-6220 or visit the company's web site at
 www.SecurityBank.net .
 
 
                              SNB BANCSHARES, INC.
                              FINANCIAL HIGHLIGHTS
                                  (UNAUDITED)
 
 
      (Dollars in Thousands, Except Per Share and Shares Outstanding Data)
 
                              QUARTER ENDED                 YEAR-TO-DATE
                        03/31     03/31      %       03/31      03/31     %
                         2001      2000    Change     2001       2000   Change
     Net Income          $898       $808   11.1%       $898       $808  11.1%
     Diluted Earnings
      Per Share       $ 0.266    $ 0.241   10.3%    $ 0.266    $ 0.241  10.3%
     Cash Dividend
      Paid Per Share  $ 0.070    $ 0.065    7.7%    $ 0.070    $ 0.065   7.7%
     Assets          $431,977   $284,314   51.9%   $431,977   $284,314  51.9%
     Deposits        $335,537   $239,533   40.1%   $335,537   $239,533  40.1%
     Loans (Net)     $354,355   $214,614   65.1%   $354,355   $214,614  65.1%
     Shareholders
      Equity          $32,069    $28,002   14.5%    $32,069    $28,002  14.5%
     Shareholders
      Equity/Assets     7.42%      9.85%  -24.6%      7.42%      9.85% -24.6%
     Book Value
      Per Share         $9.51      $7.70   23.4%      $9.51      $7.70  23.4%
     Shares
      Outstanding   3,372,969  3,340,624    1.0%  3,372,969  3,340,624   1.0%
 
 SOURCE  SNB Bancshares, Inc.