United States
Securities and Exchange Commission
Washington, D. C. 20549
FORM 10-QSB/A
(Mark One)
[X] Amended Quarterly Report Under Section 13 or 15(d ) of the Securities
Exchange Act of 1934 For the Period Ended March 31, 1996
or
[ ] Transition Report Under Section 13 or 15(d ) of the Securities Exchange
Act of 1934 For the Transition Period Ended From to
Commission file number 0-26174
FIRST BANKSHARES, INC.
(Exact name of registrant as specified in its charter)
Georgia 58-2094754
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
2833 Main St.
East Point, Georgia 30344
(Address of principal executive offices) (Zip Code)
(404) 768-9305
(Registrant's telephone number, including area code)
Not Applicable
(Former name, address and 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 periods 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 Issuers Involved in Bankruptcy
Proceedings During the Preceding Five Years
Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Sections 12, 13, or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by the court. 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 the latest practical date: Common Stock, $1.00 Par Value
1,048,840 shares as of May 1, 1996.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
FIRST BANKSHARES, INC.
(Registrant)
Date July 10, 1996 /s/ R. Elliott Miller
R. Elliott Miller
President and Chief Executive Officer
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<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> MAR-31-1996
<CASH> 1,495
<INT-BEARING-DEPOSITS> 0
<FED-FUNDS-SOLD> 0
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 22,697
<INVESTMENTS-CARRYING> 22,697
<INVESTMENTS-MARKET> 22,697
<LOANS> 65,580
<ALLOWANCE> 1,030
<TOTAL-ASSETS> 95,419
<DEPOSITS> 79,499
<SHORT-TERM> 6,220
<LIABILITIES-OTHER> 1,573
<LONG-TERM> 0
0
0
<COMMON> 1,049
<OTHER-SE> 7,078
<TOTAL-LIABILITIES-AND-EQUITY> 95,419
<INTEREST-LOAN> 1,662
<INTEREST-INVEST> 346
<INTEREST-OTHER> 16
<INTEREST-TOTAL> 2,025
<INTEREST-DEPOSIT> 678
<INTEREST-EXPENSE> 737
<INTEREST-INCOME-NET> 1,287
<LOAN-LOSSES> 0
<SECURITIES-GAINS> 0
<EXPENSE-OTHER> 978
<INCOME-PRETAX> 623
<INCOME-PRE-EXTRAORDINARY> 623
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 398
<EPS-PRIMARY> .38
<EPS-DILUTED> .37
<YIELD-ACTUAL> 9.12
<LOANS-NON> 0
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<ALLOWANCE-OPEN> 1,027
<CHARGE-OFFS> 0
<RECOVERIES> 2
<ALLOWANCE-CLOSE> 1,029
<ALLOWANCE-DOMESTIC> 1,029
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 1,029
</TABLE>
