GAINESVILLE, Ga., May 2, 2007 (PRIME NEWSWIRE) -- Richard A. Hunt, President and CEO of GB&T Bancshares, Inc. (Nasdaq:GBTB), a multi-bank holding company, recently announced the establishment of the Company's newest subsidiary, GB&T Mortgage. With over 18 years of banking experience, seasoned mortgage banker, Derek T. Watkins, has assumed the position of President and CEO. Watkins comes to GB&T Mortgage from Flag Bank, where he was President of the bank's mortgage division. Prior to that, he was President of Riverside Residential Lending and President of the mortgage division at Century South Bank.
"We are excited about this opportunity to consolidate the mortgage lending services of our seven affiliate banks under one umbrella," Hunt commented. "Our customers will continue to receive the same level of personal service, working with their local mortgage bankers in our affiliate markets. In addition, we plan to add mortgage originators in markets where we have not had them previously. Derek is a great addition to our company and possesses the experience and skills to lead this new initiative throughout the state."
"The GB&T affiliate network is positioned in Georgia's high-growth markets, and I see a real opportunity for our company to take advantage of the strong residential housing expansion in these counties," Watkins replied. "This consolidated mortgage operation will allow us to serve our customers with a more efficient and effective approach."
Watkins is a graduate of The University of Georgia and received his Masters of Business Administration from Georgia College and State University. He is active in his local Rotary Club and incoming President of the Atlanta Chapter of the Mortgage Bankers Association of Georgia.
About GB&T Bancshares, Inc.
Based in Gainesville, Georgia, GB&T Bancshares, Inc. is a multi-bank holding company operating seven community banks: Gainesville Bank & Trust, United Bank & Trust, Community Trust Bank, HomeTown Bank of Villa Rica, First National Bank of the South, First National Bank of Gwinnett, and Mountain State Bank. As of March 31, 2007, GB&T Bancshares had total assets of $1.9 billion, with 32 banking offices located in 14 Georgia counties. GB&T Bancshares' common stock is listed on the Nasdaq Global Select Market under the symbol "GBTB.'' Visit the Company's web site at: http://www.gbtbancshares.com for additional information.