<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT UNDER SECTION 13 AND 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended June 30, 1999
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT 1934
For the transition period from _______ to _______
Commission File Number: 000-25345
COMMUNITY CAPITAL BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
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Georgia 58-2413468
(State or other jurisdiction of (IRS Employer
Incorporation or organization) Identification No.)
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P.O. Drawer 71269, Albany, Georgia 31708
(Address of principal executive offices)
(912) 446-2265
(Registrant's telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes X No
--- ---
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer's classes of
common stock as of June 30, 1999:
1,050,000 SHARES
Transitional Small Business Disclosure Format (check one):
Yes No X
--- ---
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PART I - FINANCIAL INFORMATION Page No.
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ITEM 1. Financial Statements
Consolidated Balance Sheet (unaudited) 3
Consolidated Statements of Loss and comprehensive loss
(unaudited) 4
Consolidated Statement of Cash Flows (unaudited) 5
Item 2. Management's Discussion and Analysis of
Financial Condition and results of operations 7
PART II - OTHER INFORMATION
ITEM 6. Exhibits and reports on Form 8-K: 9
ITEM 10. Material Contracts 9
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COMMUNITY CAPITAL BANCSHARES, INC.
CONSOLIDATED BALANCE SHEET (UNAUDITED)
June 30, 1999
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ASSETS
Cash and due from banks $ 456,150
Federal funds sold 8,720,000
Securities available for sale, at fair value 768,325
Loans 6,151,859
Less allowance for loan losses (90,000)
-----------
Loans, net 6,061,859
Premises and equipment, net 1,005,500
Other assets 63,498
-----------
$17,075,332
===========
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits
Noninterest bearing demand $ 1,297,294
Interest bearing demand and savings 2,160,207
Time deposits 4,567,803
-----------
Total deposits 8,025,304
-----------
Other liabilities 46,033
-----------
Total Liabilities $ 8,071,337
-----------
Shareholders' Deficit
Preferred Stock, par value not stated; 2,000,000 shares authorized;
no shares issued $ --
Common Stock, $1.00 par value, 10,000,000 shares authorized;
1,050,000 shares issued and outstanding 1,050,000
Additional paid-in capital 8,575,838
Retained (deficit) (621,843)
-----------
Total shareholders' equity 9,003,995
-----------
$17,075,332
===========
</TABLE>
See Notes to Financial Statements
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COMMUNITY CAPITAL BANCSHARES, INC.
CONSOLIDATED STATEMENT OF LOSS (UNAUDITED)
Three and six months ended June 30, 1999
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Three Months Six Months
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INTEREST INCOME
Interest and fees on loans $ 66,927 $ 66,927
Interest on investment securities 28,012 43,095
Interest on Federal funds sold 61,365 61,365
--------- ---------
156,304 171,387
INTEREST EXPENSE
Interest on deposits 29,998 29,998
Interest on other borrowed funds 45 11,332
--------- ---------
30,043 41,330
--------- ---------
Net interest income 126,261 130,057
Provision for loan losses 90,000 90,000
--------- ---------
Net interest income after provision for
loan losses 36,261 40,057
--------- ---------
OTHER INCOME
Service charges on deposit accounts 1,241 1,241
Other fees and income 1,932 1,932
--------- ---------
3,173 3,173
--------- ---------
OTHER EXPENSES
Salaries & employee benefits 171,636 246,643
Organization costs -- 11,124
Pre-opening expenses -- 16,456
Training and seminars -- 5,375
Premises and fixed assets 60,141 60,343
Data processing fees 22,608 22,608
Automobile 3,281 3,483
Postage and telephone 13,289 16,487
Other expenses 82,802 82,506
--------- ---------
353,757 465,025
--------- ---------
Net (Loss) for the period (314,323) (421,795)
========= =========
Net (loss) per share $ (0.30) $ (0.40)
========= =========
</TABLE>
See Notes to Financial Statements
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COMMUNITY CAPITAL BANCSHARES, INC.
CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)
Six months ended June 30, 1999
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CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss $ (421,795)
Adjustments to reconcile net loss to net cash used in
Operating activities:
Depreciation 16,146
Provision for loan losses 90,000
Imputed interest on advances from Organizers 1,495
Deferred compensation (20,833)
Net change in Prepaid assets and accrued Liabilities 52,005
------------
Net cash used in operating activities (282,982)
------------
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of Investments (8,768,325)
Proceeds from maturities of investment securities 8,000,000
(Increase) in loans (6,151,859)
(Increase) in Federal funds sold (8,720,000)
Purchase of fixed assets (661,513)
Net cash used in Investing activities (16,301,697)
------------
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in deposits 8,025,304
Proceeds from advances under line of Credit 205,000
Payment on installment loan (3,152)
Payment on line of credit (690,000)
Payment of advances from organizers (80,000)
Issuance of common stock 9,578,457
------------
Net cash provided by financing activities 17,035,609
------------
Net increase in cash 450,930
Cash at beginning of period 5,220
------------
Cash at end of period 456,150
============
</TABLE>
See notes to Financial Statements
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COMMUNITY CAPITAL BANCSHARES, INC.
NOTES TO FINANCIAL STATEMENTS
NOTE 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
ORGANIZATION
Community Capital Bancshares, Inc. (the "Company") was organized on August
19,1998 to operate as a bank holding company pursuant to the Federal Bank
Holding Company Act of 1956, as amended, and to purchase 100% of the issued and
outstanding capital stock of Albany Bank & Trust N.A. (the "Bank"), an
association organized under the laws of the United States, which conducts a
general banking business in Albany, Georgia. The Organizers filed an application
with the Office of the Comptroller of the Currency (the "OCC") to charter the
proposed bank. The Company filed an application to become a bank holding company
with the Board of Governors of the Federal Reserve System (the "Federal
Reserve") and the Georgia Department of Banking and Finance. Upon obtaining
regulatory approval, the Company became a registered bank holding company
subject to regulation by the Federal Reserve and the Department of Banking and
Finance.
Activities since inception have consisted primarily of the Organizers of the
Company and the Bank engaging in organizational and preopening activities
necessary to obtain regulatory approvals and to prepare to commence business as
a financial institution. On April 28, 1999 the Company received final regulatory
approvals and commenced operations as a National Bank.
SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The financial statements have been prepared on the accrual basis in accordance
with generally accepted accounting principles.
Stock Offering Costs
Stock offering Costs represent fees paid to attorneys. Such costs were charged
to additional paid-in capital upon completion of the stock offering.
Income Taxes
The Company will be subject to Federal and state income taxes when taxable
income is generated. No income taxes have been accrued because of the operation
losses incurred during the preopening period.
Fiscal Year
The Company will adopt a calendar year for both financial reporting and tax
reporting purposes.
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MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
The Company received final regulatory approvals and commenced banking operations
through its wholly owned subsidiary Albany Bank & Trust on April 28, 1999. The
following is a discussion of the Company's financial condition as of June 30,
1999 and its results of operations for the three and six months ended June 30,
1999. These comments should be read in conjunction with the Company's financial
statements and accompanying footnotes in this report.
ASSETS AND LIABILITIES - Total assets at June 30 were $17,075,332. During the
second quarter the company originated $6,151,859 in loans. Funding for these
loans was provided by the new deposits during the quarter of $8,025,304. Excess
funds are held primarily in Federal funds sold. The Company expects to begin
purchasing additional investment securities as its loan growth stabilizes, and
as appropriate yield opportunities present themselves. Management expects
continued strong growth in assets and liabilities during the remainder of the
year. These growth rates are the result of the newness of the bank. Management
monitors its growth in all categories to maintain a proper mix of types,
maturities and interest rates. Management believes that its current capital
level is adequate to maintain the current growth of the Company.
At June 30 premises and equipment was $1,005,500. There will be additional
growth in the Premises and equipment category as the Company continues the
construction of its permanent office. The new facility should be completed late
in the fourth quarter of 1999 and occupancy is expected prior to year-end.
LIQUIDITY AND CAPITAL RESOURCES - Liquidity management involves the matching of
the cash flow requirements of customers, who may either be depositors desiring
to withdraw funds or borrowers requiring loan proceeds. The Company must
maintain sufficient funds to meet both these needs. This is accomplished by
managing the balances and maturities of interest bearing assets and liabilities
so that the balances in Cash and Federal funds sold are sufficient to meet
anticipated demand for immediate funds. Additionally, the subsidiary bank
maintains relationships with correspondent banks, which can provide additional
funds on short notice.
The liquidity and capital resources of the Company are monitored on a periodic
basis by regulatory authorities and by management. The Company has no historical
reference at present for the seasonal demands of its customers. Because of the
lack of history, and the expected high growth rate of the Company, a higher than
normal level of liquidity is being maintained. Federal regulatory agencies also
maintain guidelines regarding the capital levels. At June 30, 1999 the company
was in compliance with these guidelines.
RESULTS OF OPERATIONS - The Company's results of operations are determined by
its ability to effectively manage net interest income, control non-interest
expense, generate non-interest income and minimize loan losses. In order for the
Company to become profitable, it must increase the amount of its earning assets
so that net interest income is sufficient to cover the normal operating expenses
incurred in a banking operation. Net interest income for the three months ended
was $126,261. Total non-interest expense was $353,757. Certain areas of
non-interest expense were higher than normal. This increase is the result of
normal startup acquisitions for any new business. These expenses should
stabilize during the remainder of the year.
PROVISION FOR LOAN LOSSES - The provision for loan losses represents a charge to
earnings in the current period to maintain the allowance for loan losses at
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a level management determines is adequate. The provision for loan losses charged
to earnings was $90,000 in 1999. The allowance for loan losses represents
reserve for potential losses in the loan portfolio. This is evaluated on a
regular basis by management to insure that it is adequate but not excessive.
YEAR 2000 ISSUES
Since this is a new company, all equipment and software is recently acquired.
The company's policy is to purchase only Year 2000 ready equipment and software.
For this reason, the company considers itself year 2000 ready and expects to
incur no additional expenses in remediating potential Year 2000 problems. The
primary risks to the Company will be from third parties, either customers or
service providers of electricity, telephone and other services. At the present
time, it is not possible to determine the potential impact of non-compliance by
these providers. The Company will review major customers' Year 2000 readiness as
it establishes relationships with these customers to determine potential impact
on the Company. The Company is in the process of developing Year 2000 specific
contingency plans. It expects completion of these plans during the third quarter
of 1999.
FORWARD-LOOKING STATEMENTS
This document contains statements that constitute "forward-looking statements"
within the meaning of Sections 27A of the Securities Act of 1933, as amended,
and Sections 21E of the Securities Exchange Act of 1934, as amended. The words
"believe", "estimate", "expect", "intend", "anticipate" and similar expressions
and variations thereof identify certain of such forward-looking statements,
which speak only as of the dates which they were made. The Company undertakes no
obligation to publicly update or revise any forward-looking statements, whether
as a result of new information, future events, or otherwise. Users are cautioned
that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that the actual results may
differ materially from those indicated in the forward-looking statements as a
result of various factors. Users are therefore cautioned not to place undue
reliance on these forward-looking statements.
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ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(A) EXHIBITS 27. FINANCIAL DATA SCHEDULE (for SEC use only)
(B) REPORTS ON FORM 8-K
None
ITEM 10. MATERIAL CONTRACTS
(A) EXHIBIT 10.1 - Contract for the construction of the Company's main
office facility.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
COMMUNITY CAPITAL BANCSHARES, INC.
August 11, 1999 /s/ Robert E. Lee
- -------------------- --------------------------------------------
Date Robert E. Lee,
President
August 11, 1999 /s/ David J. Baranko
- -------------------- --------------------------------------------
Date David J. Baranko
Chief Financial Officer
(Duly authorized officer and principal
financial/accounting officer )
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<PAGE> 1
EXHIBIT 10.1
THE AMERICAN INSTITUTE OF ARCHITECTS
[LOGO]
- --------------------------------------------------------------------------------
AIA Document A101
STANDARD FORM OF AGREEMENT BETWEEN
OWNER AND CONTRACTOR
where the basis of payment is a
STIPULATED SUM
1987 EDITION
THIS DOCUMENT HAS IMPORTANT LEGAL CONSEQUENCES; CONSULTATION WITH
AN ATTORNEY IS ENCOURAGED WITH RESPECT TO ITS COMPLETION OR MODIFICATION.
The 1987 Edition of AIA Document A201, General Conditions of the Contract for
Construction, is adopted in this document by reference. Do not use with other
general conditions unless this document is modified.
This document has been approved and endorsed by
The Associated General Contractors of America.
- --------------------------------------------------------------------------------
AGREEMENT
made as of the 17th day of May in the year of Nineteen Hundred and Ninety-Nine
BETWEEN the Owner: Mr. Robert E. Lee
(Name and address) Albany Bank & Trust
P.O. Drawer 71269
Albany, GA 31708-1269
and the Contractor: LRA Constructors, Inc.
(Name and address) P.O. Box 3386
Albany, GA 31706-3386
The Project is: Albany Bank & Trust Building
(Name and location) 2815 Meredyth Drive
Albany, GA 31707
The Architect is: Foreman, Seeley & Fountain
(Name and address) 5855 Jimmy Carter Blvd., Suite 218
Norcross, GA 30071
The Owner and Contractor agree as set forth below.
- --------------------------------------------------------------------------------
Copyright 1915, 1918, 1925, 1937, 1951, 1958, 1961, 1963, 1967, 1974, 1977,
(c)1987 by The American Institute of Architects, 1735 New York Avenue, N.W.,
Washington, D.C. 20006. Reproduction of the material herein or substantial
quotation of its provisions without written permission of the AIA violates the
copyright laws of the United States and will be subject to legal prosecution.
A101-1987 1
<PAGE> 2
ARTICLE 1
THE CONTRACT DOCUMENTS
The Contract Documents consist of this Agreement, Conditions of the Contract
(General, Supplementary and other Conditions), Drawings, Specifications,
addenda issued prior to execution of this Agreement, other documents listed in
this Agreement and Modifications issued after execution of this Agreement;
these form the Contract, and are as fully a part of the Contract as if attached
to this Agreement or repeated herein. The Contract represents the entire and
integrated agreement between the parties hereto and supersedes prior
negotiations, representations or agreements, either written or oral. An
enumeration of the Contract Documents, other than Modifications, appears in
Article 9.
ARTICLE 2
THE WORK OF THIS CONTRACT
The Contractor shall execute the entire Work described in the Contract
Documents, except to the extent specifically indicated in the Contract
Documents to be the responsibility of others, or as follows:
ARTICLE 3
DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION
3.1 The date of commencement is the date from which the Contract Time of
Paragraph 3.2 is measured, and shall be the date of this Agreement, as first
written above, unless a different date is stated below or provision is made for
the date to be fixed in a notice to proceed issued by the Owner.
(Insert the date of commencement, if it differs from the date of this
Agreement or, if applicable, state that the date will be fixed in a notice to
proceed.)
Unless the date of commencement is established by a notice to proceed issued by
the Owner, the Contractor shall notify the Owner is writing not less than five
days before commencing the Work to permit the timely filing of mortgages,
mechanic's liens and other security interests.
3.2 The Contractor shall achieve Substantial Completion of the entire Work not
later than 273 calendar days after the contract date.
(Insert the calendar date or number of calendar days after the date of
commencement. Also insert any requirements for earlier Substantial Completion
of certain portions of the Work, if not stated elsewhere in the Contract
Documents.)
, subject to adjustments of this Contract Time as provided in the Contract
Documents.
(Insert provisions, if any, for liquidated damages relating to failure to
complete on time.)
A101-1987 2
<PAGE> 3
ARTICLE 4
CONTRACT SUM
4.1 The Owner shall pay the Contractor in current funds for the
Contractor's performance of the Contract the Contract Sum of
One Million Three Hundred Fifty Three Thousand & 00/100 Dollars
($1,350,000.00), subject to additions and deductions as provided
in the Contract Documents.
4.2 The Contract Sum is based upon the following alternates, if any,
which are described in the Contract Documents and are hereby accepted
by the Owner:
(State the numbers or other identification of accepted alternates. If
decisions on other alternates are to be made by the Owner subsequent to the
execution of this Agreement, attach a schedule of such other alternates
showing the amount for each and the date until which that amount is valid)
4.3 Unit prices, if any, are as follows:
A101-1987 3
<PAGE> 4
ARTICLE 5
PROGRESS PAYMENTS
5.1 Based upon Applications for Payment submitted to the Architect by the
Contractor and Certificates for Payment issued by the Architect, the Owner
shall make progress payments on account of the Contract Sum to the Contractor
as provided below and elsewhere in the Contract Documents.
5.2 The period covered by each Application for Payment shall be one calendar
month ending on the last day of the month, or as follows:
5.3 Provided an Application for Payment is received by the Architect not later
than the tenth day of a month, the Owner shall make payment to the Contractor
not later than the 25th day of the same month. If an Application for Payment is
received by the Architect after the application date fixed above, payment shall
be made by the Owner not later than fifteen days after the Architect receives
the Application for Payment.
5.4 Each Application for Payment shall be based upon the schedule of values
submitted by the Contractor in accordance with the Contract Documents. The
schedule of values shall allocate the entire Contract Sum among the various
portions of the Work and be prepared in such form and supported by such data to
substantiate its accuracy as the Architect may require. This schedule, unless
objected to by the Architect, shall be used as a basis for reviewing the
Contractor's Applications for Payment.
5.5 Applications for Payment shall indicate the percentage of completion of
each portion of the Work as of the end of the period covered by the Application
for Payment.
5.6 Subject to the provisions of the Contract Documents, the amount of each
progress payment shall be computed as follows:
5.6.1 Take that portion of the Contract Sum properly allocable to completed
Work as determined by multiplying the percentage completion of each portion of
the Work by the share of the total Contract Sum allocated to that portion of
the Work in the schedule of values, less retainage of ten percent (10%).
Pending final determination of cost to the Owner of changes in the Work, amounts
not in the dispute may be included as provided in Subparagraph 7.3.7 of the
General Conditions even though the Contract Sum has not yet been adjusted by
Change Order;
5.6.2 Add that portion of the Contract Sum properly allocable to materials and
equipment delivered and suitably stored at the site for subsequent
incorporation in the completed construction (or, if approved in advance by the
Owner, suitably stored off the site at a location agreed upon in writing), less
retainage of ten percent. (10%);
5.6.3 Subtract the aggregate of previous payments made by the Owner; and
5.6.4 Subtract amounts, if any, for which the Architect has withheld or
nullified a Certificate for Payment as provided in Paragraph 9.5 of the General
Conditions.
5.7 The progress payment amount determined in accordance with Paragraph 5.6
shall be further modified under the following circumstances:
5.7.1 Add, upon Substantial Completion of the Work, a sum sufficient to
increase the total payments to one hundred percent (100%) of the Contract Sum,
less such amounts as the Architect shall determine for incomplete Work and
unsettled claims; and
5.7.2 Add, if final completion of the Work is thereafter materially delayed
through no fault of the Contractor, any additional amounts payable in
accordance with Subparagraph 9.10.3 of the General Conditions.
5.8 Reduction or limitation of retainage, if any, shall be as follows:
(If it is intended, prior to Substantial Completion of the entire Work, to
reduce or limit the retainage resulting from the percentages inserted in
Subparagraphs 5.6.1 and 5.6.2 above, and this is not explained elsewhere in the
Contract Documents. Insert here provisions for such reduction or limitation.)
A101-1987 4
<PAGE> 5
ARTICLE 6
FINAL PAYMENT
Final payment, constituting the entire unpaid balance of the Contract Sum,
shall be made by the Owner to the Contractor when (1) the Contract has been
fully performed by the Contractor except for the Contractor's responsibility to
correct nonconforming Work as provided in Subparagraph 12.2.2 of the General
Conditions and to satisfy other requirements, if any, which necessarily survive
final payment; and (2) a final Certificate for Payment has been issued by the
Architect; such final payment shall be made by the Owner not more than 30 days
after the issuance of the Architect's final Certificate for Payment, or as
follows:
ARTICLE 7
MISCELLANEOUS PROVISIONS
7.1 Where reference is made in this Agreement to a provision of the General
Conditions or another Contract Document, the reference refers to that provision
as amended or supplemented by other provisions of the Contract Documents.
7.2 Payments due and unpaid under the Contract shall bear interest from the
date payment is due at the rate stated below, or in the absence thereof, at the
legal rate prevailing from time to time at the place where the Project is
located.
(Insert rate of interest agreed upon, if any.)
1% per month.
(Usuary laws and requirements under the Federal Truth in Lending Act, similar
state and local consumer credit laws and other regulations at the Owner's and
Contractor's principal places of business, the location of the Project and
elsewhere may affect the validity of this provision. Legal advice should be
obtained with respect to deletions or modifications, and also regarding
requirements such as written disclosures or waivers.)
7.3 Other provisions:
ARTICLE 8
TERMINATION OR SUSPENSION
8.1 The Contract may be terminated by the Owner or the Contractor as provided
in Article 14 of the General Conditions.
8.2 The Work may be suspended by the Owner as provided in Article 14 of the
General Conditions.
A101-1987 5
<PAGE> 6
ARTICLE 9
ENUMERATION OF CONTRACT DOCUMENTS
9.1 The Contract Documents, except for Modifications issued after execution of
this Agreement, are enumerated as follows:
9.1.1 The Agreement is this executed Standard Form of Agreement Between Owner
and Contractor, A1A Document A101, 1987 Edition.
9.1.2 The General Conditions are the General Conditions of the Contract for
Construction, A1A Document A201, 1987 Edition.
9.1.3 The Supplementary and other Conditions of the Contract are those
contained in the Project Manual dated ___________________, and are as follows:
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DOCUMENT TITLE PAGES
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Cover Sheet Albany Bank & Trust 1
at Meredyth Drive,
Albany, GA
Site Plan Albany Bank & Trust Co., 1 - 7
2815 Meredyth Drive,
Albany, GA
Architectural Plans Albany Bank & Trust A-1.1, A-2.1, A-2.2, A-2.3, A-2.4, A-2.5, A-3.1, A-3.2, A-4.1,
at Meredyth Drive & A-5.1, A-5.2, A-5.3, A-5.4, A-5.5, A-5.6, A-6.1, A-6.2, A-6.3,
Lafayette Plaza Drive A-6.4, A-6.5, A-7.1, A-8.1, A-8.2
Bank Equipment Plans Albany Bank & Trust BE-1, BE-2
Meredyth & Lafayette Drive
Structural Plans Albany Bank & Trust S-2.1, S-2.2, S-2.3, S-3.1, S-3.2
Meredyth & Lafayette Dr.
Mechanical Plans Albany Bank & Trust M-1, M-2
Meredyth & Lafayette Dr.
Plumbing Plans Albany Bank & Trust P-1, P-2
Meredyth & Lafayette Dr.
Electrical Plans Albany Bank & Trust E-1 thru E-8
Meredyth & Lafayette Dr.
</TABLE>
9.1.4 The Specifications are those contained in the Project Manual dated as in
Subparagraph 9.1.3, and are as follows:
(Either list the Specifications here or refer to an exhibit attached to this
Agreement.)
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Section Title Pages
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00000 BIDDING AND CONTRACT REQUIREMENTS
00600 Standard Form of Agreement Between
Owner & Contractor 1
00610 Performance Bond and Labor and
Material Payment Bond 1
00700 General Conditions of the Contract 1
00800 Supplementary Conditions 1-6
00821 Project Commencement 1-2
01000 GENERAL REQUIREMENTS
01020 Allowances 1-3
01041 Coordination 1
01060 Inspections 1
01088 Definitions and Standards 1-14
01150 Owner Access to Existing Buildings 1
01155 Schedules, Reports, Payments 1-4
01205 Procedures and Controls 1-5
01340 Submittals 1-5
01505 Temporary Facilities 1-5
01566 Cleaning Up 1-2
01600 Materials and Equipment 1
01631 Substitutions and Product Options 1-2
01700 Project Close-Out 1-5
02000 SITEWORK
02200 Earthwork 1-4
02210 Grading 1-7
02220 Excavation 1-4
02222 Excavating, Trenching & Backfilling
for Pipe Lines 1-5
02225 Filling and Backfilling 1-2
02270 Sedimentation Control 1-2
02280 Termite Control 1-2
02500 Site Concrete Work 1-6
02511 Crusher Run Stone Base Course 1
02513 Asphalt Paving 1-6
02525 Curbs & Gutters Concrete 1-4
02720 Storm Drainage 1-4
02722 Sanitary Sewer System 1-3
03000 CONCRETE
03200 Concrete Reinforcement 1-2
03300 Cast-in-Place Concrete 1-8
03350 Concrete Finishes 1-2
04000 MASONRY
04100 Mortars 1-2
04150 Masonry Reinforcement & Accessories 1-2
04210 Brick Masonry 1-4
04510 Masonry Cleaning 1-2
05000 METALS
05120 Structural Steel 1-8
05210 Metal Joists 1-3
05300 Metal Decking 1-2
05400 Lightgage Metal Framing 1-4
05500 Metal Fabrications 1-9
06000 WOOD AND PLASTICS
06100 Rough Carpentry 1-4
06190 Wood Roof Trusses 1-2
06220 Millwork 1-4
06400 Architectural Woodwork 1-7
06410 Architectural Casework 1-4
06440 Architectural Columns 1
07000 THERMAL AND MOISTURE PROTECTION
07160 Bituminous Dampproofing 1-3
07191 Vapor Barrier 1-2
07210 Building Insulation 1-4
07240 Exterior Insulation & Finish System 1-9
07310 Shingles 1-3
07530 Flexible Sheet Roofing System 1-6
07620 Flashing & Sheet Metal 1-5
07900 Joint Sealers 1-12
08000 DOORS AND WINDOWS
08110 Steel Doors and Frames 1-6
08210 Wood Door 1-5
08610 Wood Windows 1-2
08710 Builder's Hardware 1-12
08800 Glass and Glazing 1-6
09000 FINISHES
09250 Gypsum Drywall 1-18
09310 Ceramic Tile 1-6
09510 Acoustical Ceilings 1-2
09660 Resilient Flooring 1-4
09680 Carpet 1-3
09900 Painting 1-11
09960 Vinyl Wall Covering 1-2
10000 SPECIALTIES
10362 Ground Mounted Flagpole 1-2
10440 Specialty Signs 1-4
10552 Fire Extinguishers and Cabinet 1-4
10810 Toilet Accessories 1-4
14000
14240 Hydraulic Elevator 1-6
15000 MECHANICAL
15010 Plumbing General 1-7
15041 Sterilization 1-2
15050 Plumbing Products 1-4
15060 Water & Sewer Piping 1-4
15080 Plumbing Insulation 1-2
15200 HVAC General 1-9
15210 HVAC Products 1-4
15222 Gas Piping 1-2
15225 Refrigerant Piping 1-4
15270 Ductwork 1-2
15280 Duct Insulation 1
15300 Test & Balance 1-2
15310 Controls 1-2
16000 ELECTRICAL
16010 General Provisions 1-5
16100 Basic Materials & Methods 1-11
16400 Services & Distribution 1-2
16500 Lighting 1-2
16750 Telephone Equipment 1-2
</TABLE>
A101-1987 6
<PAGE> 7
9.1.5 The Drawings are as follows, and are dated ___________________ unless a
different date is shown below:
(Either list the Drawings here or refer to an exhibit attached to
this Agreement)
NUMBER TITLE DATE
9.1.6 The addenda, if any, are as follows:
NUMBER DATE PAGES
Portions of addenda relating to bidding requirements are not part of the
Contract Documents unless the bidding requirements are also enumerated in this
Article 9.
A101-1987 7
<PAGE> 8
9.1.7 Other documents, if any, forming part of the Contract Documents are as
follows:
(List here any additional documents which are intended to form part of the
Contract Documents. The General Conditions provide that bidding requirements
such as advertisement or invitation to bid, Instructions to Bidders, sample
forms and the Contractor's bid are not part of the Contract Documents unless
enumerated in this Agreement. They should be listed here only if intended to
be part of the Contract Documents.)
1) Columns shall be paneled, not fluted to match Thomasville.
2) Doors, trim & sheathing shall match Thomasville.
3) Structure & stairs shall be wood framed in lieu of metal studs.
4) Utilize a high efficiency Carrier heat pump in lieu of specified gas unit.
5) Delete side lights in vestibule doors & use half glass fire light doors.
6) Redesign foundation in accordance with site data.
7) Substitute standard flush face 2 X 2 lay-in acoustical tile for rooms
202, 206, 207, 208, 210, 215, 216, 217, 218 & 220.
8) Substitute single slide elevator doors for bi-parting.
9) Utilize standard exterior signage.
10) Install brick pavers only at three porches and around flag pole.
This Agreement is entered into as of the day and year first written above and
is executed in at least three original copies of which one is to be delivered
to the Contractor, one to the Architect for use in the administration of the
Contract, and the remainder to the Owner.
OWNER Albany Bank & Trust CONTRACTOR LRA Constructors, Inc.
Robert E. Lee Ben B. Barrow 5/17/99
- ---------------------------- ---------------------------------
(Signature) (Signature)
Mr. Robert E. Lee, President Mr. Ben B. Barrow, Jr., President
- ---------------------------- ---------------------------------
(Printed name and title) (Printed name and title)
AIA CAUTION: YOU SHOULD SIGN AN ORIGINAL AIA DOCUMENT WHICH HAS THIS CAUTION
PRINTED IN RED. AN ORIGINAL ASSURES THAT CHANGES WILL NOT BE OBSCURED AS
MAY OCCUR WHEN DOCUMENTS ARE REPRODUCED.
A101-1987 8
<TABLE> <S> <C>
<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF COMMUNITY CAPITAL BANCSHARES, INC. FOR THE SIX MONTHS
ENDED JUNE 30, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> JUN-30-1999
<CASH> 456,150
<INT-BEARING-DEPOSITS> 61,100
<FED-FUNDS-SOLD> 8,720,000
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 768,325
<INVESTMENTS-CARRYING> 0
<INVESTMENTS-MARKET> 0
<LOANS> 6,151,859
<ALLOWANCE> 90,000
<TOTAL-ASSETS> 17,075,332
<DEPOSITS> 8,025,304
<SHORT-TERM> 0
<LIABILITIES-OTHER> 46,033
<LONG-TERM> 0
0
0
<COMMON> 1,050,000
<OTHER-SE> 7,953,995
<TOTAL-LIABILITIES-AND-EQUITY> 17,075,332
<INTEREST-LOAN> 66,927
<INTEREST-INVEST> 43,095
<INTEREST-OTHER> 61,365
<INTEREST-TOTAL> 171,387
<INTEREST-DEPOSIT> 29,998
<INTEREST-EXPENSE> 41,330
<INTEREST-INCOME-NET> 130,057
<LOAN-LOSSES> 90,000
<SECURITIES-GAINS> 0
<EXPENSE-OTHER> 465,025
<INCOME-PRETAX> (421,795)
<INCOME-PRE-EXTRAORDINARY> (421,795)
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (421,795)
<EPS-BASIC> (.40)
<EPS-DILUTED> (.40)
<YIELD-ACTUAL> 0
<LOANS-NON> 0
<LOANS-PAST> 0
<LOANS-TROUBLED> 0
<LOANS-PROBLEM> 0
<ALLOWANCE-OPEN> 0
<CHARGE-OFFS> 0
<RECOVERIES> 0
<ALLOWANCE-CLOSE> 90,000
<ALLOWANCE-DOMESTIC> 90,000
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 0
</TABLE>
