PCBN Piedmont Community Bank Group Inc (CE)

Piedmont Community Bank Group, Inc. (OTCBB:PCBN) and its bank subsidiary, Piedmont Community Bank, today announced first quarter results which included a 37% increase in net interest income and a 19% decrease in pretax income as compared to the first quarter of 2006. Total net interest income was $1,217,000 for the first quarter of 2007 as compared to $889,000 for 2006, an increase of $328,000, or 37%. Pretax income for the quarter was $241,000, a decrease of $58,000 or 19% as compared to the same quarter a year ago. During 2006, Piedmont Community Bank, in accordance with its Strategic Plan, began expansion of the franchise through the placement of strategically located offices in high growth markets. �While we realize that this growth has an impact on earnings in the short run, we believe that by following our Strategic Plan, we will add future shareholder value,� stated Cole Davis, EVP Retail Banking. The Bank opened its first branch office in June of 2006 on Bass Road in Macon, Georgia and has spent the first quarter of 2007 preparing for the opening of two additional offices, one on Forsyth Road in Macon, Georgia and one at Lake Oconee in Greensboro, Georgia. �We are excited about adding these new offices and expanding our presence throughout middle Georgia,� stated CEO Drew Hulsey. �Our commitment to a high level of personal service is already resulting in deposit and loan growth in our new markets that is overwhelming and gratifying. Plans are being finalized as well to add Monroe and Houston counties to the Piedmont family in the near future,� Hulsey added. At March 31, 2007, total deposits had grown by 19%, ending the quarter at $133,633,000 as compared to $112,085,000 at December 31, 2006. Gross loans ended the quarter at $132,445,000, an 11% increase over December 31, 2006 gross loans of $118,928,000. Loan quality remains strong with no loans on non accrual and loans 30 days or more past due at 0.00% as of March 31, 2007. Total assets grew by 16% and ended the quarter at $163,358,000 as compared to $141,044,000 at December 31, 2006. On April 18, 2007, the Board of Directors of Piedmont Community Bank Group, Inc. announced a 1.2 for 1 stock split for shareholders of record on April 30, 2007. CEO Drew Hulsey stated, �This split will increase our number of outstanding shares, which we believe will help to increase the liquidity, and potentially the market value, for our common stock.� Piedmont Community Bank Group, Inc. is the holding company for Piedmont Community Bank, a community bank headquartered in Gray, Georgia. Its common stock is traded over-the-counter under the symbol �PCBN�. About Piedmont Community Bank: With headquarters in Gray, Georgia, Piedmont Community Bank is a community oriented, full service commercial bank whose primary service area is Jones, Bibb, Baldwin, Putnam, Greene, Houston, and Monroe counties. This news release contains forward-looking statements, as defined by federal securities laws, including statements about financial outlook and business environment. These statements are provided to assist in the understanding of a future financial performance and such performance involves risks and uncertainties that may cause actual results to differ materially from those in such statements. Any such statements are based on current expectations and involve a number of risks and uncertainties. For a discussions of factors that may cause such forward-looking statements to differ materially from actual results, please refer to the section entitled �Forward Looking Statements� in Piedmont Community Bank Group�s annual report filed on Form 10-KSB with the Securities Exchange Commission.