GEORGIA CAROLINA BANCSHARES INC
SC 13G, 1999-02-16
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<PAGE>   1

                                                             OMB APPROVAL
                                                          OMB No. 3235-0145
                                                      Expires September 30, 1999


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

             INFORMATION STATEMENT PURSUANT TO RULES 13D-1 AND 13D-2

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934


                        GEORGIA-CAROLINA BANCSHARES, INC.
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                          $.001 PAR VALUE COMMON STOCK
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   373145-10-1
- --------------------------------------------------------------------------------
                                 (CUSIP Number)





*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).



                       (Continued on the following pages)



                               Page 1 of 15 Pages

<PAGE>   2

<TABLE>
<CAPTION>
CUSIP No.373145-10-1                                                13G                                          Page 2 of 15 Pages
         -----------
<S>                       <C>                                                                                    <C>
- ------------------------- ---------------------------------------------------------------------------------------------------------
           1              NAME OF REPORTING PERSON
                          Raymond D. Brown

                          I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                          
- ------------------------- ---------------------------------------------------------------------------------------------------------
           2              CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                                                (a)[ x ]
                                                                                                                           (b)[   ]



- ------------------------- ---------------------------------------------------------------------------------------------------------
           3              SEC USE ONLY




- ------------------------- ---------------------------------------------------------------------------------------------------------
           4              CITIZENSHIP OR PLACE OF ORGANIZATION 
                          USA


- ------------------------- ---------------------------------------------------------------------------------------------------------
                               5         SOLE VOTING POWER
       NUMBER OF

         SHARES
                          ---------------------------------------------------------------------------------------------------------
                               6          SHARED VOTING POWER
      BENEFICIALLY                                 10,212

        OWNED BY

                          ---------------------------------------------------------------------------------------------------------
          EACH                 7          SOLE DISPOSITIVE POWER

       REPORTING

                          ---------------------------------------------------------------------------------------------------------
         PERSON                8           SHARED DISPOSITIVE POWER
                                                   10,212
          WITH

- ------------------------- ---------------------------------------------------------------------------------------------------------
           9              AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                          10,212


- ------------------------- ---------------------------------------------------------------------------------------------------------
           10             CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*

                          Excludes 40,846 shares owned by other members of the reporting group.
                          [ x ]

- ------------------------- ---------------------------------------------------------------------------------------------------------
           11             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                          1.6%

- ------------------------- ---------------------------------------------------------------------------------------------------------
           12             TYPE OF REPORTING PERSON*
                          IN

- ------------------------- ---------------------------------------------------------------------------------------------------------
</TABLE>
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                               PAGE 2 OF 15 PAGES
<PAGE>   3

<TABLE>
<CAPTION>
CUSIP No.373145-10-1                                                13G                                          Page 3 of 15 Pages
         -----------
<S>                       <C>                                                                                    <C>
- ------------------------- ---------------------------------------------------------------------------------------------------------
           1              NAME OF REPORTING PERSON
                          ARTHUR J. GAY, JR.

                          I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                          

- ------------------------- ---------------------------------------------------------------------------------------------------------
           2              CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                                                (a)[ x ]
                                                                                                                           (b)[   ]



- ------------------------- ---------------------------------------------------------------------------------------------------------
           3              SEC USE ONLY




- ------------------------- ---------------------------------------------------------------------------------------------------------
           4              CITIZENSHIP OR PLACE OF ORGANIZATION
                          USA


- ------------------------- ---------------------------------------------------------------------------------------------------------
                                   5         SOLE VOTING POWER
       NUMBER OF                             0
                                         
         SHARES
                          ---------------------------------------------------------------------------------------------------------
                                   6         SHARED VOTING POWER
      BENEFICIALLY                           0

        OWNED BY

                          ---------------------------------------------------------------------------------------------------------
          EACH                     7         SOLE DISPOSITIVE POWER
                                             0
       REPORTING

                          ---------------------------------------------------------------------------------------------------------
         PERSON                    8         SHARED DISPOSITIVE POWER
                                             0
          WITH

- ------------------------- ---------------------------------------------------------------------------------------------------------
           9              AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                          0


- ------------------------- ---------------------------------------------------------------------------------------------------------
           10             CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*

                          Excludes 51,058 shares owned by other members of the reporting group.
                          [  x ]

- ------------------------- ---------------------------------------------------------------------------------------------------------
           11             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                          0.0%

- ------------------------- ---------------------------------------------------------------------------------------------------------
           12             TYPE OF REPORTING PERSON*
                          IN

- ------------------------- ---------------------------------------------------------------------------------------------------------
</TABLE>
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                               PAGE 3 OF 15 PAGES
<PAGE>   4

<TABLE>
<CAPTION>
CUSIP No.373145-10-1                                                13G                                          Page 4 of 15 Pages
         -----------
<S>                       <C>                                                                                    <C>
- ------------------------- ---------------------------------------------------------------------------------------------------------
           1              NAME OF REPORTING PERSON
                          JAMES RANDAL HALL

                          I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                          
- ------------------------- ---------------------------------------------------------------------------------------------------------
           2              CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                                                (a)[ x ]
                                                                                                                           (b)[   ]



- ------------------------- ---------------------------------------------------------------------------------------------------------
           3              SEC USE ONLY




- ------------------------- ---------------------------------------------------------------------------------------------------------
           4              CITIZENSHIP OR PLACE OF ORGANIZATION 
                          USA



- ------------------------- ---------------------------------------------------------------------------------------------------------
                                   5         SOLE VOTING POWER
       NUMBER OF                             0
                                             
         SHARES
                          ---------------------------------------------------------------------------------------------------------
                                   6         SHARED VOTING POWER
      BENEFICIALLY                           0

        OWNED BY

                          ---------------------------------------------------------------------------------------------------------
          EACH                     7         SOLE DISPOSITIVE POWER
                                             0
       REPORTING

                          ---------------------------------------------------------------------------------------------------------
         PERSON                    8         SHARED DISPOSITIVE POWER
                                             0
          WITH

- ------------------------- ---------------------------------------------------------------------------------------------------------
           9              AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                          0


- ------------------------- ---------------------------------------------------------------------------------------------------------
           10             CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*

                          Excludes 51,058 shares owned by other members of the reporting group.
                          [  x ]

- ------------------------- ---------------------------------------------------------------------------------------------------------
           11             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                          0.0%

- ------------------------- ---------------------------------------------------------------------------------------------------------
           12             TYPE OF REPORTING PERSON*
                          IN

- ------------------------- ---------------------------------------------------------------------------------------------------------
</TABLE>
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                               PAGE 4 OF 15 PAGES
<PAGE>   5

<TABLE>
<CAPTION>
CUSIP No.373145-10-1                                                13G                                          Page 5 of 15 Pages
         -----------
<S>                       <C>                                                                                    <C>
- ------------------------- ---------------------------------------------------------------------------------------------------------
           1              NAME OF REPORTING PERSON
                          HUGH L. HAMILTON, JR.

                          I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                          
- ------------------------- ---------------------------------------------------------------------------------------------------------
           2              CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                                                (a)[ x ]
                                                                                                                           (b)[   ]


- ------------------------- ---------------------------------------------------------------------------------------------------------
           3              SEC USE ONLY




- ------------------------- ---------------------------------------------------------------------------------------------------------
           4              CITIZENSHIP OR PLACE OF ORGANIZATION 
                          USA



- ------------------------- ---------------------------------------------------------------------------------------------------------
                                   5         SOLE VOTING POWER
       NUMBER OF                             0
                                             
         SHARES
                          ---------------------------------------------------------------------------------------------------------
                                   6         SHARED VOTING POWER
      BENEFICIALLY                           0

        OWNED BY

                          ---------------------------------------------------------------------------------------------------------
          EACH                     7         SOLE DISPOSITIVE POWER
                                             0
       REPORTING

                          ---------------------------------------------------------------------------------------------------------
         PERSON                    8         SHARED DISPOSITIVE POWER
                                             0
          WITH

- ------------------------- ---------------------------------------------------------------------------------------------------------
           9              AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                          0


- ------------------------- ---------------------------------------------------------------------------------------------------------
           10             CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*

                          Excludes 51,058 shares owned by other members of the reporting group.
                          [  x ]

- ------------------------- ---------------------------------------------------------------------------------------------------------
           11             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                          0.0%

- ------------------------- ---------------------------------------------------------------------------------------------------------
           12             TYPE OF REPORTING PERSON*
                          IN

- ------------------------- ---------------------------------------------------------------------------------------------------------
</TABLE>
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                               PAGE 5 OF 15 PAGES

<PAGE>   6
<TABLE>
<CAPTION>
CUSIP No.373145-10-1                                                13G                                          Page 6 of 15 Pages
         -----------
<S>                       <C>                                                                                    <C>
- ------------------------- ---------------------------------------------------------------------------------------------------------
           1              NAME OF REPORTING PERSON
                          WILLIAM G. HATCHER

                          I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                          

- ------------------------- ---------------------------------------------------------------------------------------------------------
           2              CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                                                (a)[ x ]
                                                                                                                           (b)[   ]



- ------------------------- ---------------------------------------------------------------------------------------------------------
           3              SEC USE ONLY




- ------------------------- ---------------------------------------------------------------------------------------------------------
           4              CITIZENSHIP OR PLACE OF ORGANIZATION
                          USA


- ------------------------- ---------------------------------------------------------------------------------------------------------
                                   5         SOLE VOTING POWER
       NUMBER OF                             0
                                             
         SHARES
                          ---------------------------------------------------------------------------------------------------------
                                   6         SHARED VOTING POWER
      BENEFICIALLY                           0

        OWNED BY

                          ---------------------------------------------------------------------------------------------------------
          EACH                     7         SOLE DISPOSITIVE POWER
                                             0
       REPORTING

                          ---------------------------------------------------------------------------------------------------------
         PERSON                    8         SHARED DISPOSITIVE POWER
                                             0
          WITH

- ------------------------- ---------------------------------------------------------------------------------------------------------
           9              AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                          0


- ------------------------- ---------------------------------------------------------------------------------------------------------
           10             CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*

                          Excludes 51,058 shares owned by other members of the reporting group.
                          [  x ]

- ------------------------- ---------------------------------------------------------------------------------------------------------
           11             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                          0.0%

- ------------------------- ---------------------------------------------------------------------------------------------------------
           12             TYPE OF REPORTING PERSON*
                          IN

- ------------------------- ---------------------------------------------------------------------------------------------------------
</TABLE>
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                               PAGE 6 OF 15 PAGES
<PAGE>   7


<TABLE>
<CAPTION>
CUSIP No.373145-10-1                                                13G                                          Page 7 of 15 Pages
         -----------
<S>                       <C>                                                                                    <C>
- ------------------------- ---------------------------------------------------------------------------------------------------------
           1              NAME OF REPORTING PERSON
                          GEORGE H. INMAN

                          I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

- ------------------------- ---------------------------------------------------------------------------------------------------------
           2              CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                                                (a)[ x ]
                                                                                                                           (b)[   ]



- ------------------------- ---------------------------------------------------------------------------------------------------------
           3              SEC USE ONLY




- ------------------------- ---------------------------------------------------------------------------------------------------------
           4              CITIZENSHIP OR PLACE OF ORGANIZATION 
                          USA


- ------------------------- ---------------------------------------------------------------------------------------------------------
                                   5         SOLE VOTING POWER
       NUMBER OF
                                             10,212
         SHARES
                          ---------------------------------------------------------------------------------------------------------
                                   6         SHARED VOTING POWER
      BENEFICIALLY                           0

        OWNED BY

                          ---------------------------------------------------------------------------------------------------------
          EACH                     7         SOLE DISPOSITIVE POWER

       REPORTING                             10,212

                          ---------------------------------------------------------------------------------------------------------
         PERSON                    8         SHARED DISPOSITIVE POWER
                                             0
          WITH

- ------------------------- ---------------------------------------------------------------------------------------------------------
           9              AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                          10,212


- ------------------------- ---------------------------------------------------------------------------------------------------------
           10             CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*

                          Excludes 40,846 shares owned by other members of the reporting group.
                          [  x ]

- ------------------------- ---------------------------------------------------------------------------------------------------------
           11             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                          1.6%

- ------------------------- ---------------------------------------------------------------------------------------------------------
           12             TYPE OF REPORTING PERSON*
                          IN

- ------------------------- ---------------------------------------------------------------------------------------------------------
</TABLE>
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                               PAGE 7 OF 15 PAGES

<PAGE>   8
<TABLE>
CUSIP No.373145-10-1                                                13G                                          Page 8 of 15 Pages
         -----------
<S>                       <C>                                                                                    <C>
- ------------------------- ---------------------------------------------------------------------------------------------------------
           1              NAME OF REPORTING PERSON
                          JOHN W. LEE

                          I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                          
- ------------------------- ---------------------------------------------------------------------------------------------------------
           2              CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                                                (a)[ x ]
                                                                                                                           (b)[   ]



- ------------------------- ---------------------------------------------------------------------------------------------------------
           3              SEC USE ONLY




- ------------------------- ---------------------------------------------------------------------------------------------------------
           4              CITIZENSHIP OR PLACE OF ORGANIZATION 
                          USA


- ------------------------- ---------------------------------------------------------------------------------------------------------
                                   5         SOLE VOTING POWER
       NUMBER OF
                                             10,211
         SHARES
                          ---------------------------------------------------------------------------------------------------------
                                   6         SHARED VOTING POWER
      BENEFICIALLY                           0

        OWNED BY

                          ---------------------------------------------------------------------------------------------------------
          EACH                     7         SOLE DISPOSITIVE POWER

       REPORTING                             10,211

                          ---------------------------------------------------------------------------------------------------------
         PERSON                    8         SHARED DISPOSITIVE POWER
                                             0
          WITH

- ------------------------- ---------------------------------------------------------------------------------------------------------
           9              AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                          10,211


- ------------------------- ---------------------------------------------------------------------------------------------------------
           10             CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*

                          Excludes 40,847 shares owned by other members of the reporting group.
                          [  x ]

- ------------------------- ---------------------------------------------------------------------------------------------------------
           11             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                          1.6%

- ------------------------- ---------------------------------------------------------------------------------------------------------
           12             TYPE OF REPORTING PERSON*
                          IN

- ------------------------- ---------------------------------------------------------------------------------------------------------
</TABLE>
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                               PAGE 8 OF 15 PAGES

<PAGE>   9
<TABLE>
CUSIP No.373145-10-1                                                13G                                          Page 9 of 15 Pages
         -----------
<S>                       <C>                                                                                    <C>
- ------------------------- ---------------------------------------------------------------------------------------------------------
           1              NAME OF REPORTING PERSON
                          A. MONTAGUE MILLER

                          I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                         
- ------------------------- ---------------------------------------------------------------------------------------------------------
           2              CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                                                (a)[ x ]
                                                                                                                           (b)[   ]



- ------------------------- ---------------------------------------------------------------------------------------------------------
           3              SEC USE ONLY




- ------------------------- ---------------------------------------------------------------------------------------------------------
           4              CITIZENSHIP OR PLACE OF ORGANIZATION 
                          USA


- ------------------------- ---------------------------------------------------------------------------------------------------------
                                   5         SOLE VOTING POWER
       NUMBER OF
                                             10,212
         SHARES
                          ---------------------------------------------------------------------------------------------------------
                                   6         SHARED VOTING POWER
      BENEFICIALLY                           0

        OWNED BY

                          ---------------------------------------------------------------------------------------------------------
          EACH                     7         SOLE DISPOSITIVE POWER

       REPORTING                             10,212

                          ---------------------------------------------------------------------------------------------------------
         PERSON                    8         SHARED DISPOSITIVE POWER
                                             0
          WITH

- ------------------------- ---------------------------------------------------------------------------------------------------------
           9              AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                          10,212


- ------------------------- ---------------------------------------------------------------------------------------------------------
           10             CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*

                          Excludes 40,846 shares owned by other members of the reporting group.
                          [  x ]

- ------------------------- ---------------------------------------------------------------------------------------------------------
           11             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                          1.6%

- ------------------------- ---------------------------------------------------------------------------------------------------------
           12             TYPE OF REPORTING PERSON*
                          IN

- ------------------------- ---------------------------------------------------------------------------------------------------------
</TABLE>
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                               PAGE 9 OF 15 PAGES
<PAGE>   10

<TABLE>
CUSIP No.373145-10-1
         -----------                                                13G                                          Page 10 of 15 Pages
<S>                       <C>                                                                                    <C>
- ------------------------- ---------------------------------------------------------------------------------------------------------
           1              NAME OF REPORTING PERSON
                          JULIAN W. OSBON

                          I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                          
- ------------------------- ---------------------------------------------------------------------------------------------------------
           2              CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                                                (a)[ x ]
                                                                                                                           (b)[   ]



- ------------------------- ---------------------------------------------------------------------------------------------------------
           3              SEC USE ONLY




- ------------------------- ---------------------------------------------------------------------------------------------------------
           4              CITIZENSHIP OR PLACE OF ORGANIZATION 
                          USA


- ------------------------- ---------------------------------------------------------------------------------------------------------
                                   5         SOLE VOTING POWER
       NUMBER OF
                                             10,211
         SHARES
                          ---------------------------------------------------------------------------------------------------------
                                   6         SHARED VOTING POWER
      BENEFICIALLY                           0

        OWNED BY

                          ---------------------------------------------------------------------------------------------------------
          EACH                     7         SOLE DISPOSITIVE POWER

       REPORTING                             10,211

                          ---------------------------------------------------------------------------------------------------------
         PERSON                    8         SHARED DISPOSITIVE POWER
                                             0
          WITH

- ------------------------- ---------------------------------------------------------------------------------------------------------
           9              AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                          10,211


- ------------------------- ---------------------------------------------------------------------------------------------------------
           10             CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*

                          Excludes 40,847 shares owned by other members of the reporting group.
                          [  x ]

- ------------------------- ---------------------------------------------------------------------------------------------------------
           11             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                          1.6%

- ------------------------- ---------------------------------------------------------------------------------------------------------
           12             TYPE OF REPORTING PERSON*
                          IN

- ------------------------- ---------------------------------------------------------------------------------------------------------
</TABLE>
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                               PAGE 10 OF 15 PAGES

<PAGE>   11

<TABLE>
<CAPTION>
CUSIP No.373145-10-1
         -----------
                                                                13G                                              Page 11 of 15 Pages
<S>                       <C>                                                                                    <C>
- ------------------------- ---------------------------------------------------------------------------------------------------------
           1              NAME OF REPORTING PERSON
                          RDB FAMILY LIMITED PARTNERSHIP

                          I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                          58-2281323

- ------------------------- ---------------------------------------------------------------------------------------------------------
           2              CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                                                (a)[ x ]
                                                                                                                           (b)[   ]



- ------------------------- ---------------------------------------------------------------------------------------------------------
           3              SEC USE ONLY




- ------------------------- ---------------------------------------------------------------------------------------------------------
           4              CITIZENSHIP OR PLACE OF ORGANIZATION 
                          State of South Carolina



- ------------------------- ---------------------------------------------------------------------------------------------------------
                                   5         SOLE VOTING POWER
       NUMBER OF
                                             10,212
         SHARES
                          ---------------------------------------------------------------------------------------------------------
                                   6         SHARED VOTING POWER
      BENEFICIALLY                           0

        OWNED BY

                          ---------------------------------------------------------------------------------------------------------
          EACH                     7         SOLE DISPOSITIVE POWER

       REPORTING                             10,212

                          ---------------------------------------------------------------------------------------------------------
         PERSON                    8         SHARED DISPOSITIVE POWER
                                             0
          WITH

- ------------------------- ---------------------------------------------------------------------------------------------------------
           9              AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                          10,212


- ------------------------- ---------------------------------------------------------------------------------------------------------
           10             CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*

                          Excludes 40,846 shares owned by other members of the reporting group.
                          [ x ]

- ------------------------- ---------------------------------------------------------------------------------------------------------
           11             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                          1.6%

- ------------------------- ---------------------------------------------------------------------------------------------------------
           12             TYPE OF REPORTING PERSON*
                          PN

- ------------------------- ---------------------------------------------------------------------------------------------------------
</TABLE>
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
                               PAGE 11 OF 15 PAGES

<PAGE>   12


<TABLE>
<S>               <C>
Item 1(a).        Name of Issuer.
- ----------        ---------------
                  Georgia-Carolina Bancshares, Inc.

Item 1(b).        Address of Issuer's Principal Executive Offices.
- ----------        ------------------------------------------------
                  110 East Hill Street, Thomson, Georgia  30824

Item 2(a).        Name of Persons Filing.
- ----------        -----------------------
                  Raymond D. Brown
                  Arthur J. Gay, Jr.
                  James Randal Hall
                  Hugh L. Hamilton, Jr.
                  William G. Hatcher
                  George H. Inman
                  John W. Lee
                  A. Montague Miller
                  Julian W. Osbon
                  RDB Family Limited Partnership

Item 2(b).        Address of Principal Business Office or, if none, Residence.
- ----------        ------------------------------------------------------------
                  Raymond D. Brown:  P.O. Box 6535, North Augusta, SC 29841
                  Arthur J. Gay, Jr.:  3643 Pebble Beach Drive, Augusta, GA 30907
                  James Randal Hall:  519 Winchester Drive, Augusta, GA 30909
                  Hugh L. Hamilton, Jr.:  3 Eagleton Court, Augusta, GA 30909
                  William G. Hatcher:  3111 Vasser Drive, Augusta, GA 30909
                  George H. Inman:  3041 Bransford Road, Augusta, GA 30909
                  John W. Lee:  807 Carriage Court, Augusta, GA 30909
                  A. Montague Miller:  4384 Deer Run, Evans, GA 30809
                  Julian W. Osbon:  1245 Broad Street, Augusta, GA 30901
                  RDB Family Limited Partnership: P.O. Box 6535, North Augusta, SC 29841

Item 2(c).        Citizenship.
- ----------        ------------
                  RDB Family Limited Partnership is organized under South
                  Carolina law. All individual members of the reporting group
                  are citizens of the United States of America.

Item 2(d).        Title of Class of Securities.
- ----------        -----------------------------
                  Common stock, $.001 par value per share.
</TABLE>




                               Page 12 of 15 Pages

<PAGE>   13

<TABLE>
<S>               <C>                                                                   <C>          <C>
Item 2(e).        CUSIP Number.
- ----------        -------------
                  373145-10-1


Item 3.           If this statement is filed pursuant to Rules 13d-(b), or
- -------           --------------------------------------------------------
                  13d-2(b), check whether the person filing is a:
                  -----------------------------------------------
                  Not Applicable.

Item 4(a).        Amount Beneficially Owned as of December 31, 1998.
- ----------        --------------------------------------------------
                  Members of the reporting group own an aggregate of 51,058
                  shares.

Item 4(b).        Percent of Class.
- ----------        -----------------
                  9.0 %

Item 4(c).        Number of Shares as to which such person has:
- ----------        ---------------------------------------------
                  (i)  sole power to vote or to direct the vote:                        Inman-       10,212
                                                                                        Lee-         10,211
                                                                                        Miller-      10,212
                                                                                        Osbon-       10,211
                                                                                        RDB L.P.-    10,212

                  (ii)  shared power to vote or to direct the vote                      Brown-       10,212


                  (iii)  sole power to dispose or to direct the disposition of:         Inman-       10,212
                                                                                        Lee-         10,211
                                                                                        Miller-      10,212
                                                                                        Osbon-       10,211
                                                                                        RDB L.P.-    10,212

                  (iv) shared power to dispose or to direct the disposition of:

                                                                                        Brown-       10,212

Item 5.           Ownership of Five Percent or Less of a Class.
- -------           ---------------------------------------------
                  Not Applicable.

Item 6.           Ownership of More Than Five Percent on Behalf of Another Person.
- -------           ----------------------------------------------------------------
                  Not Applicable.
</TABLE>


                               Page 13 of 15 Pages
<PAGE>   14
<TABLE>          
<S>                                                                     <C>

Item 7.           Identification and Classification of the Subsidiary Which
- -------           --------------------------------------------------------- 
                  Acquired the Security Being Reported on by the Parent 
                  -----------------------------------------------------
                  Holding Company.
                  ----------------
                  
                  Not Applicable.

Item 8.           Identification and Classification of Members of the Group.
- -------           ----------------------------------------------------------

                          Name                                         Classification
                          ----                                         --------------
                  Raymond D. Brown                                           IN
                  Arthur J. Gay, Jr.                                         IN
                  James Randal Hall                                          IN
                  Hugh L. Hamilton, Jr.                                      IN
                  William G. Hatcher                                         IN
                  George H. Inman                                            IN
                  John W. Lee                                                IN
                  A. Montague Miller                                         IN
                  Julian W. Osbon                                            IN
                  RDB Family Limited Partnership                             PN

Item 9.           Notice of Dissolution of Group.
- -------           -------------------------------

                  Not Applicable.

Item 10.          Certification.
- --------          --------------

                  Not Applicable.
</TABLE>

                              Page 14 of 15 Pages

<PAGE>   15


Signature.

         After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


February 12, 1999                   /s/ Raymond D. Brown
- -----------------                   -------------------------------------------
Date                                Raymond D. Brown


February 12, 1999                   /s/ Arthur J. Gay, Jr.
- -----------------                   -------------------------------------------
Date                                Arthur J. Gay, Jr.


February 12, 1999                   /s/ James Randal Hall
- -----------------                   -------------------------------------------
Date                                James Randal Hall


February 12, 1999                   /s/ Hugh L. Hamilton, Jr.
- -----------------                   -------------------------------------------
Date                                Hugh L. Hamilton, Jr.


February 12, 1999                   /s/ William G. Hatcher
- -----------------                   -------------------------------------------
Date                                William G. Hatcher


February 12, 1999                   /s/ George H. Inman
- -----------------                   -------------------------------------------
Date                                George H. Inman


February 12, 1999                   /s/ John W. Lee
- -----------------                   -------------------------------------------
Date                                John W. Lee


February 12, 1999                   /s/ A. Montague Miller
- -----------------                   -------------------------------------------
Date                                A. Montague Miller


February 12, 1999                   /s/ Julian W. Osbon
- -----------------                   -------------------------------------------
Date                                Julian W. Osbon


                                    RDB Family Limited Partnership

February 12, 1999                   By: /s/ Raymond D. Brown
- -----------------                      ----------------------------------------
Date                                   Raymond D. Brown, As Its General Partner

                               Page 15 of 15 Pages


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