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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center"><FONT size="2">As filed with the Securities and Exchange Commission on September&nbsp;30, 2002</FONT>

<div align="right"><FONT size="2">Registration No.&nbsp;333-_______</FONT></div>

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<P align="center"><FONT size="2"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></FONT>

<P align="center"><FONT size="2"><B>FORM S-8<BR>
REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B></FONT>

<P align="center"><FONT size="2">GEORGIA-CAROLINA BANCSHARES, INC.</FONT>
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<div align="center"><FONT size="2"><FONT size="3">(Exact name of registrant as specified in its charter)</FONT></FONT></div>

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        <TD align="center" valign="top"><FONT size="2">Georgia</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
58-2326075</FONT></TD>
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        <TD align="center" valign="top"><FONT size="2">(State or other jurisdiction<BR>
of incorporation or organization)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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(I.R.S. Employer Identification<BR>
Number)</FONT></TD>
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        <TD width="22%">&nbsp;</TD>
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        <TD align="center" valign="top"><FONT size="2">2805 Wrightsboro Road, Augusta, Georgia</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
30909</FONT></TD>
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<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">(Address of Principal Executive Offices)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap valign="top"><FONT size="2">(Zip Code)</FONT></TD>
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<P align="center"><FONT size="2">DIRECTORS STOCK PURCHASE PLAN</FONT>
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<div align="center"><FONT size="2"><FONT size="3">(Full Title of the Plan)</FONT></FONT></div>

<P align="center"><FONT size="2">Patrick G. Blanchard<BR>
President and Chief Executive Officer<BR>
Georgia-Carolina Bancshares, Inc.<BR>
2805 Wrightsboro Road,<BR>
Augusta, Georgia 30909<BR>
(706)&nbsp;736-2100</FONT>

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<P align="center"><FONT size="2"><FONT size="3">(Name, address, telephone number, including<BR>
area code, of agent for service)</FONT></FONT>

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<P align="center"><FONT size="2">Copies Requested to:<BR>
Robert C. Schwartz, Esq.<BR>
Smith, Gambrell &#038; Russell, LLP<BR>
Suite&nbsp;3100, Promenade II<BR>
1230 Peachtree Street, N.E.<BR>
Atlanta, Georgia 30309-3592<BR>
(404)&nbsp;815-3500</FONT>

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<P align="center"><FONT size="2">CALCULATION OF REGISTRATION FEE</FONT>

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        <TD width="1%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="7%">&nbsp;</TD>
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        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
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        <TD nowrap align="center"><FONT size="1"><B>Title of Securities</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Amount to be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering Price Per</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate Offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
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        <TD nowrap align="center"><FONT size="1"><B>to be Registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Share(1)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Price(1)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registration Fee</B></FONT></TD>
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        <TD align="center" valign="top"><FONT size="2">Common Stock,<BR>
$.001 par value</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
44,244<BR>
Shares
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">$</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">18.375
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">$</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">812,983.50
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">$</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">74.80</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of calculating the registration fee pursuant to Rule&nbsp;457(h)(1).</FONT></TD>
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">Part II</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">Exhibit&nbsp;Index</A></TD></TR>
<TR><TD colspan="9"><A HREF="g78519aexv5w1.htm">OPINION OF SMITH GAMBRELL & RUSSELL</A></TD></TR>
<TR><TD colspan="9"><A HREF="g78519aexv10w3w1.htm">AMENDMENT #1 TO DIRECTORS STOCK PURCHASE PLAN</A></TD></TR>
<TR><TD colspan="9"><A HREF="g78519aexv23w1.htm">CONSENT OF CHERRY BEKAERT & HOLLAND</A></TD></TR>
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<P align="center"><FONT size="2"><B>Part II</B></FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT>

<P align="left"><FONT size="2"><B>Item&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporation of Documents by Reference.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents listed below are hereby incorporated by reference into this
Registration Statement, and all documents subsequently filed by
Georgia-Carolina Bancshares, Inc. (the &#147;Company&#148;) pursuant to Section&nbsp;13(a),
13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended, prior
to the filing of a post-effective amendment which indicates that all securities
offered have been sold or which deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this Registration
Statement and to be part hereof from the date of filing such documents:
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        <TD width="1%" align="left" nowrap><FONT size="2">1.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">The Company&#146;s Annual Report on Form&nbsp;10-KSB for the year ended December
31, 2001;</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD width="1%" align="left" nowrap><FONT size="2">2.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">The Company&#146;s Quarterly Report on Form&nbsp;10-QSB for the quarter ended March
31, 2002;</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD width="1%" align="left" nowrap><FONT size="2">3.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">The Company&#146;s Quarterly Report on Form&nbsp;10-QSB for the quarter ended June&nbsp;30,
2002; and</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD width="1%" align="left" nowrap><FONT size="2">4.</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">A description of the Company&#146;s Common Stock contained in the Company&#146;s
Registration Statement on Form&nbsp;8-A as filed with the Commission on August
14, 1997.</FONT></TD>
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<P align="left"><FONT size="2"><B>Item&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Description of Securities.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No response is required to this item.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interests of Named Experts and Counsel.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No response is required to this item.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indemnification of Officers and Directors.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As provided under Georgia law, the Company&#146;s Articles of Incorporation
provide that a Director shall not be personally liable to the Company or its
shareholders for monetary damages, for breach of the duty of care or any other
fiduciary duty owed to the Company as a Director, except that such provisions
shall not eliminate or limit the liability of a Director (a)&nbsp;for any
appropriation, in violation of his or her duties, of any business opportunity
of the Company; (b)&nbsp;for acts or omissions which involve intentional misconduct
or a knowing violation of law; (c)&nbsp;for unlawful corporation distributions; or
(d)&nbsp;for any transaction from which the Director received an improper personal
benefit. If applicable law is amended to authorize corporate action further
eliminating or limiting the liability of Directors, the liability of each
Director of the Company shall be eliminated or limited to the fullest extent
permitted by applicable law, as amended. Article&nbsp;VI of the Company&#146;s Bylaws
provides that the Company shall indemnify a Director or Officer of the Company
who has been wholly successful, on the merits or otherwise, in the defense of
any proceeding to which he or she was a party or in defense of any claim, issue
or matter therein because he or she is or was a Director or Officer of the
Company, against reasonable expenses incurred by him or her in connection with
such defense.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s Bylaws also provide that the Company may indemnify any
Director or Officer made a party to a proceeding because he or she is or was a
Director or Officer against liability incurred in
</FONT>
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<P><FONT size="2">the proceeding if he or she conducted himself or herself in good faith and
reasonably believed, in the case of conduct in his or her official capacity,
that such conduct was in the best interests of the Company; in all other cases,
that such conduct was at least not opposed to the best interests of the
Company; and in the case of a criminal proceeding, that he or she had no
reasonable cause to believe such conduct was unlawful. An Officer who is not a
Director, or an Officer who is also a Director and is made a party to a
proceeding on the sole basis of an act or omission in his or her capacity as an
Officer, may be indemnified as provided by the Articles, Bylaws, a resolution
of the Board or contract, except for liability arising out of conduct that
constitutes (i)&nbsp;an appropriation, in violation of his or her duties, of any
business opportunity of the Company, (ii)&nbsp;acts or omissions which involve
intentional misconduct or a knowing violation of law, (iii)&nbsp;unlawful corporate
distributions, or (iv)&nbsp;any transaction from which the officer received an
improper personal benefit. Determination concerning whether or not the
applicable standard of conduct has been met can be made by (a)&nbsp;a majority of
all of the disinterested members of the Board, if there are two or more such
disinterested members; (b)&nbsp;a majority of a committee of disinterested Directors
comprised of two or more such disinterested Directors; (c)&nbsp;independent legal
counsel; or (d)&nbsp;the shareholders. No indemnification may be made to or on
behalf of a Director or Officer (1)&nbsp;in connection with a proceeding by or in
the right of the Company in which such person was adjudged liable to the
Company, except for reasonable expenses incurred in connection with the
proceeding if it is determined that the Director has met the relevant standard
of conduct, or (2)&nbsp;in connection with any other proceeding with respect to
conduct for which such person was adjudged liable on the basis that personal
benefit was improperly received by him or her, whether or not involving action
in his or her official capacity.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may, if authorized by its shareholders by a majority of votes
which would be entitled to be cast in a vote to amend the Company&#146;s Articles of
Incorporation, indemnify or obligate itself to indemnify a Director or Officer
made a party to a proceeding, including a proceeding brought by or in the right
of the Company. In addition, the Company may also indemnify an employee or
agent who is not a Director to the extent, consistent with public policy, that
may be provided by the Company&#146;s Articles of Incorporation, Bylaws, resolution
of the Board or contract.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exemption From Registration Claimed.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No response to this item is required.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed with or incorporated by reference into
this Registration Statement:
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        <TD nowrap align="center"><FONT size="1"><B>Exhibit Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description of Exhibit</B></FONT></TD>
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        <TD valign="top"><FONT size="2">5.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of Smith, Gambrell &#038; Russell, LLP, as to the legality of
the securities being registered.</FONT></TD>
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">10.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Georgia-Carolina Bancshares, Inc. Directors Stock Purchase Plan
(incorporated by reference from the Company&#146;s Annual Report on Form
10-KSB for the fiscal year ended December&nbsp;31, 2001)</FONT></TD>
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        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">10.3.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amendment No.&nbsp;1 to the Georgia-Carolina Bancshares, Inc. Directors
Stock Purchase Plan.</FONT></TD>
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        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Cherry, Bekaert &#038; Holland, L.L.P.</FONT></TD>
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        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Smith, Gambrell &#038; Russell, LLP (contained in their opinion
filed as Exhibit&nbsp;5.1)</FONT></TD>
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        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">24.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Powers of Attorney (contained on the signature page to this
Registration Statement)</FONT></TD>
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<P align="center"><FONT size="2">3</FONT>
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<P align="left"><FONT size="2"><B>Item&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Undertakings.</B></FONT>

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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned Registrant hereby undertakes:</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement to include
any material information with respect to the plan of distribution not
previously disclosed in the Registration Statement or any material change
to such information in the Registration Statement;</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed
to be the initial bona fide offering thereof.</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the
termination of the offering.</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
Registrant&#146;s Annual Report pursuant to section 13(a) or section 15(d) of the
Securities Exchange Act of 1934 that is incorporated by reference in the
Registration Statement shall be deemed to be a new Registration Statement
relating to the securities offered therein, and the offering of such securities
at the time shall be deemed to be the initial bona fide offering thereof.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">4</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of Augusta, State of Georgia, on the 27th day of
September, 2002.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="32%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="55%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="3" align="left" valign="top"><FONT size="2">GEORGIA-CAROLINA BANCSHARES, INC.</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">/s/ Patrick G. Blanchard<BR>
</FONT><HR size="1" noshade><FONT size="2">
Patrick G. Blanchard<BR>
<I>President and Chief Executive Officer<BR>
(Principal Executive Officer)</I></FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">/s/ James M. Thomas<BR>
</FONT><HR size="1" noshade><FONT size="2">
James M. Thomas<BR>
<I>Chief Financial Officer<BR>
(Principal Financial and Accounting Officer)</I></FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below constitutes and appoints Patrick G. Blanchard and James M. Thomas, his
true and lawful attorneys-in-fact and agents, with full power of substitution
and resubstitution for him, in his name, place and stead, in any and all
capacities, to sign any and all amendments (including post-effective
amendments) to this Registration Statement, and to file the same, with all
exhibits thereto, and other documents in connection therewith, including a
Registration Statement filed under Rule&nbsp;462(b) of the Securities Act of 1933,
as amended, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents full power and authority to do and perform each
and every act and thing requisite and necessary to be done in and about the
premises as fully and to all intents and purposes as he might or could do in
person, hereby ratifying and confirming all that said attorneys-in-fact and
agents may lawfully do or cause to be done by virtue hereof.
</FONT>
<P align="center"><FONT size="2">5</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities indicated and on the dates indicated:
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="33%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="37%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>SIGNATURE</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>TITLE</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>DATE</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Patrick G. Blanchard<BR>
</FONT><HR size="1" noshade><FONT size="2">
Patrick G. Blanchard</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director, President and Chief<BR>
Executive Officer
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Larry DeMeyers<BR>
</FONT><HR size="1" noshade><FONT size="2">
Larry DeMeyers</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Phillip G. Farr<BR>
</FONT><HR size="1" noshade><FONT size="2">
Phillip G. Farr</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Samuel A. Fowler, Jr.<BR>
</FONT><HR size="1" noshade><FONT size="2">
Samuel A. Fowler, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Arthur J. Gay, Jr.<BR>
</FONT><HR size="1" noshade><FONT size="2">
Arthur J. Gay, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Joseph D. Greene<BR>
</FONT><HR size="1" noshade><FONT size="2">
Joseph D. Greene
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;<BR>
</FONT><HR size="1" noshade><FONT size="2">
J. Randal Hall</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Hugh L. Hamilton<BR>
</FONT><HR size="1" noshade><FONT size="2">
Hugh L. Hamilton</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ William G. Hatcher<BR>
</FONT><HR size="1" noshade><FONT size="2">
William G. Hatcher</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ George O. Hughes<BR>
</FONT><HR size="1" noshade><FONT size="2">
George O. Hughes</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ George H. Inman<BR>
</FONT><HR size="1" noshade><FONT size="2">
George H. Inman</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ David W. Joesbury<BR>
</FONT><HR size="1" noshade><FONT size="2">
David W. Joesbury</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ John W. Lee<BR>
</FONT><HR size="1" noshade><FONT size="2">
John W. Lee</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ James L. Lemley<BR>
</FONT><HR size="1" noshade><FONT size="2">
James L. Lemley, M.D.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ A. Montague Miller<BR>
</FONT><HR size="1" noshade><FONT size="2">
A. Montague Miller</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Julian W. Osbon<BR>
</FONT><HR size="1" noshade><FONT size="2">
Julian W. Osbon</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Robert N. Wilson<BR>
</FONT><HR size="1" noshade><FONT size="2">
Robert N. Wilson, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">September 27, 2002</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;<BR>
</FONT><HR size="1" noshade><FONT size="2">
Bennye M. Young</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">6</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "Exhibit&nbsp;Index" -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="center"><FONT size="2"><B>Exhibit&nbsp;Index</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="75%">
<TR valign="bottom">
        <TD width="9%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="86%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description of Exhibit</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">5.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of Smith, Gambrell &#038; Russell, LLP.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">10.3.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amendment No.&nbsp;1 to the Georgia-Carolina Bancshares, Inc. Directors Stock
Purchase Plan.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Cherry, Bekaert &#038; Holland, L.L.P.</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">7</FONT>
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</HTML>
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GEORGIA CAROLINA BANCSHARES INC
Table of Contents
As filed with the Securities and Exchange Commission on September 30, 2002
Registration No. 333-_______
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
GEORGIA-CAROLINA BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
Georgia
58-2326075
(State or other jurisdiction
of incorporation or organization)
(I.R.S. Employer Identification
Number)
2805 Wrightsboro Road, Augusta, Georgia
30909
(Address of Principal Executive Offices)
(Zip Code)
DIRECTORS STOCK PURCHASE PLAN
(Full Title of the Plan)
Patrick G. Blanchard
President and Chief Executive Officer
Georgia-Carolina Bancshares, Inc.
2805 Wrightsboro Road,
Augusta, Georgia 30909
(706) 736-2100
(Name, address, telephone number, including
area code, of agent for service)
Copies Requested to:
Robert C. Schwartz, Esq.
Smith, Gambrell & Russell, LLP
Suite 3100, Promenade II
1230 Peachtree Street, N.E.
Atlanta, Georgia 30309-3592
(404) 815-3500
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Title of Securities
Amount to be
Offering Price Per
Aggregate Offering
Amount of
to be Registered
Registered
Share(1)
Price(1)
Registration Fee
Common Stock,
$.001 par value
44,244
Shares
$
18.375
$
812,983.50
$
74.80
(1)
Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h)(1).
TABLE OF CONTENTS
Part II
SIGNATURES
Exhibit Index
OPINION OF SMITH GAMBRELL & RUSSELL
AMENDMENT #1 TO DIRECTORS STOCK PURCHASE PLAN
CONSENT OF CHERRY BEKAERT & HOLLAND
Table of Contents
Part II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.     Incorporation of Documents by Reference.
The documents listed below are hereby incorporated by reference into this
Registration Statement, and all documents subsequently filed by
Georgia-Carolina Bancshares, Inc. (the "Company") pursuant to Section 13(a),
13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended, prior
to the filing of a post-effective amendment which indicates that all securities
offered have been sold or which deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this Registration
Statement and to be part hereof from the date of filing such documents:
1.
The Company's Annual Report on Form 10-KSB for the year ended December
31, 2001;
2.
The Company's Quarterly Report on Form 10-QSB for the quarter ended March
31, 2002;
3.
The Company's Quarterly Report on Form 10-QSB for the quarter ended June 30,
2002; and
4.
A description of the Company's Common Stock contained in the Company's
Registration Statement on Form 8-A as filed with the Commission on August
14, 1997.
Item 4.     Description of Securities.
No response is required to this item.
Item 5.     Interests of Named Experts and Counsel.
No response is required to this item.
Item 6.     Indemnification of Officers and Directors.
As provided under Georgia law, the Company's Articles of Incorporation
provide that a Director shall not be personally liable to the Company or its
shareholders for monetary damages, for breach of the duty of care or any other
fiduciary duty owed to the Company as a Director, except that such provisions
shall not eliminate or limit the liability of a Director (a) for any
appropriation, in violation of his or her duties, of any business opportunity
of the Company; (b) for acts or omissions which involve intentional misconduct
or a knowing violation of law; (c) for unlawful corporation distributions; or
(d) for any transaction from which the Director received an improper personal
benefit. If applicable law is amended to authorize corporate action further
eliminating or limiting the liability of Directors, the liability of each
Director of the Company shall be eliminated or limited to the fullest extent
permitted by applicable law, as amended. Article VI of the Company's Bylaws
provides that the Company shall indemnify a Director or Officer of the Company
who has been wholly successful, on the merits or otherwise, in the defense of
any proceeding to which he or she was a party or in defense of any claim, issue
or matter therein because he or she is or was a Director or Officer of the
Company, against reasonable expenses incurred by him or her in connection with
such defense.
The Company's Bylaws also provide that the Company may indemnify any
Director or Officer made a party to a proceeding because he or she is or was a
Director or Officer against liability incurred in
2
Table of Contents
the proceeding if he or she conducted himself or herself in good faith and
reasonably believed, in the case of conduct in his or her official capacity,
that such conduct was in the best interests of the Company; in all other cases,
that such conduct was at least not opposed to the best interests of the
Company; and in the case of a criminal proceeding, that he or she had no
reasonable cause to believe such conduct was unlawful. An Officer who is not a
Director, or an Officer who is also a Director and is made a party to a
proceeding on the sole basis of an act or omission in his or her capacity as an
Officer, may be indemnified as provided by the Articles, Bylaws, a resolution
of the Board or contract, except for liability arising out of conduct that
constitutes (i) an appropriation, in violation of his or her duties, of any
business opportunity of the Company, (ii) acts or omissions which involve
intentional misconduct or a knowing violation of law, (iii) unlawful corporate
distributions, or (iv) any transaction from which the officer received an
improper personal benefit. Determination concerning whether or not the
applicable standard of conduct has been met can be made by (a) a majority of
all of the disinterested members of the Board, if there are two or more such
disinterested members; (b) a majority of a committee of disinterested Directors
comprised of two or more such disinterested Directors; (c) independent legal
counsel; or (d) the shareholders. No indemnification may be made to or on
behalf of a Director or Officer (1) in connection with a proceeding by or in
the right of the Company in which such person was adjudged liable to the
Company, except for reasonable expenses incurred in connection with the
proceeding if it is determined that the Director has met the relevant standard
of conduct, or (2) in connection with any other proceeding with respect to
conduct for which such person was adjudged liable on the basis that personal
benefit was improperly received by him or her, whether or not involving action
in his or her official capacity.
The Company may, if authorized by its shareholders by a majority of votes
which would be entitled to be cast in a vote to amend the Company's Articles of
Incorporation, indemnify or obligate itself to indemnify a Director or Officer
made a party to a proceeding, including a proceeding brought by or in the right
of the Company. In addition, the Company may also indemnify an employee or
agent who is not a Director to the extent, consistent with public policy, that
may be provided by the Company's Articles of Incorporation, Bylaws, resolution
of the Board or contract.
Item 7.     Exemption From Registration Claimed.
No response to this item is required.
Item 8.     Exhibits.
The following exhibits are filed with or incorporated by reference into
this Registration Statement:
Exhibit Number
Description of Exhibit
5.1
Opinion of Smith, Gambrell & Russell, LLP, as to the legality of
the securities being registered.
10.3
Georgia-Carolina Bancshares, Inc. Directors Stock Purchase Plan
(incorporated by reference from the Company's Annual Report on Form
10-KSB for the fiscal year ended December 31, 2001)
10.3.1
Amendment No. 1 to the Georgia-Carolina Bancshares, Inc. Directors
Stock Purchase Plan.
23.1
Consent of Cherry, Bekaert & Holland, L.L.P.
23.2
Consent of Smith, Gambrell & Russell, LLP (contained in their opinion
filed as Exhibit 5.1)
24.1
Powers of Attorney (contained on the signature page to this
Registration Statement)
3
Table of Contents
Item 9.      Undertakings.
(a) The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement to include
any material information with respect to the plan of distribution not
previously disclosed in the Registration Statement or any material change
to such information in the Registration Statement;
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed
to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the
termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
Registrant's Annual Report pursuant to section 13(a) or section 15(d) of the
Securities Exchange Act of 1934 that is incorporated by reference in the
Registration Statement shall be deemed to be a new Registration Statement
relating to the securities offered therein, and the offering of such securities
at the time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
4
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of Augusta, State of Georgia, on the 27th day of
September, 2002.
GEORGIA-CAROLINA BANCSHARES, INC.
By:
/s/ Patrick G. Blanchard
Patrick G. Blanchard
President and Chief Executive Officer
(Principal Executive Officer)
By:
/s/ James M. Thomas
James M. Thomas
Chief Financial Officer
(Principal Financial and Accounting Officer)
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below constitutes and appoints Patrick G. Blanchard and James M. Thomas, his
true and lawful attorneys-in-fact and agents, with full power of substitution
and resubstitution for him, in his name, place and stead, in any and all
capacities, to sign any and all amendments (including post-effective
amendments) to this Registration Statement, and to file the same, with all
exhibits thereto, and other documents in connection therewith, including a
Registration Statement filed under Rule 462(b) of the Securities Act of 1933,
as amended, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents full power and authority to do and perform each
and every act and thing requisite and necessary to be done in and about the
premises as fully and to all intents and purposes as he might or could do in
person, hereby ratifying and confirming all that said attorneys-in-fact and
agents may lawfully do or cause to be done by virtue hereof.
5
Table of Contents
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities indicated and on the dates indicated:
SIGNATURE
TITLE
DATE
/s/ Patrick G. Blanchard
Patrick G. Blanchard
Director, President and Chief
Executive Officer
September 27, 2002
/s/ Larry DeMeyers
Larry DeMeyers
Director
September 27, 2002
/s/ Phillip G. Farr
Phillip G. Farr
Director
September 27, 2002
/s/ Samuel A. Fowler, Jr.
Samuel A. Fowler, Jr.
Director
September 27, 2002
/s/ Arthur J. Gay, Jr.
Arthur J. Gay, Jr.
Director
September 27, 2002
/s/ Joseph D. Greene
Joseph D. Greene
Director
September 27, 2002
J. Randal Hall
Director
/s/ Hugh L. Hamilton
Hugh L. Hamilton
Director
September 27, 2002
/s/ William G. Hatcher
William G. Hatcher
Director
September 27, 2002
/s/ George O. Hughes
George O. Hughes
Director
September 27, 2002
/s/ George H. Inman
George H. Inman
Director
September 27, 2002
/s/ David W. Joesbury
David W. Joesbury
Director
September 27, 2002
/s/ John W. Lee
John W. Lee
Director
September 27, 2002
/s/ James L. Lemley
James L. Lemley, M.D.
Director
September 27, 2002
/s/ A. Montague Miller
A. Montague Miller
Director
September 27, 2002
/s/ Julian W. Osbon
Julian W. Osbon
Director
September 27, 2002
/s/ Robert N. Wilson
Robert N. Wilson, Jr.
Director
September 27, 2002
Bennye M. Young
Director
6
Table of Contents
Exhibit Index
Exhibit
Number
Description of Exhibit
5.1
Opinion of Smith, Gambrell & Russell, LLP.
10.3.1
Amendment No. 1 to the Georgia-Carolina Bancshares, Inc. Directors Stock
Purchase Plan.
23.1
Consent of Cherry, Bekaert & Holland, L.L.P.
7