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<TITLE>GEORGIA-CAROLINA BANCSHARES, INC.</TITLE>
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<P align="center" style="font-size: 10pt">As filed with the Securities and Exchange Commission on April&nbsp;5, 2005



<DIV align="right" style="font-size: 10pt">Registration No.&nbsp;333-_______&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</DIV>



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM S-8</B>

<DIV align="center" style="font-size: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B></DIV>


<P align="center" style="font-size: 24pt"><B>GEORGIA-CAROLINA BANCSHARES, INC.</B>


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="96%" align="center" color="#000000">
(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top">Georgia<HR size="1" noshade align="center" color="#000000">
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">58-2326075<HR size="1" noshade align="center" color="#000000"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">of incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Number)</TD>
</TR>
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<P align="center" style="font-size: 10pt">2805 Wrightsboro Road, Augusta, Georgia 30909<BR>
<HR size="1" noshade width="56%" align="center" color="#000000">


<DIV align="center" style="font-size: 10pt">(Address of Principal Executive Offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Zip Code)</DIV>



<P align="center" style="font-size: 10pt">2004 Incentive Plan




<HR noshade width="26%" align="center" size="1" color="#000000">




<DIV align="center" style="font-size: 10pt">(Full Title of the Plan)
</DIV>


<P align="center" style="font-size: 10pt">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




<HR noshade width="26%" align="center" size="1" color="#000000">




<DIV align="center" style="font-size: 10pt">(Name, address, telephone number, including<BR>
area code, of agent for service)
</DIV>


<P>
<HR noshade width="26%" align="center" size="1" color="#000000">




<DIV align="center" style="font-size: 10pt">Copies Requested to:<BR>
Kenneth L. Mooney, 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</DIV>



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<P align="center" style="font-size: 10pt">CALCULATION OF REGISTRATION FEE


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR style="font-size: 1pt" valign="bottom">
    <TD width="64%" nowrap align="left" colspan="20" style="border-bottom: 3px Double #000000">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed Maximum</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed Maximum</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Title of Securities</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount to be</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Offering Price Per</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Aggregate Offering</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount of</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">to be Registered</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Registered</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Share<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Price<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Registration Fee</TD>
    <TD>&nbsp;</TD>
</TR>

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<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Options and Shares of
$.001 par value Common</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">330,125</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:20px; text-indent:-15px">Stock</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">Shares</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center">$</TD>
    <TD align="center">17.50</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center">$</TD>
    <TD align="center">5,777,188</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="center">680</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="1" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Estimated solely for the purpose of calculating the registration fee pursuant to Rule
457(c) based upon the average of the high and low sales prices of the common stock as reported on the Electronic
Bulletin Board Over-the-Counter Market on March&nbsp;30, 2005, as adjusted for the 5-for-4 stock split effected on
April&nbsp;1, 2005.</TD>
</TR>

</TABLE>



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P align="center" style="font-size: 10pt"><B>Part II</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>




<P align="left" style="font-size: 10pt"><U><B>Item&nbsp;3.</B></U> <U><B>Incorporation of Documents by Reference.</B></U>



<P align="left" style="font-size: 10pt">&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:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.&nbsp;&nbsp;</TD>
    <TD>The Company&#146;s Annual Report on Form 10-KSB for the year ended December&nbsp;31, 2004; and</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.&nbsp;&nbsp;</TD>
    <TD>The description of the Company&#146;s Common Stock contained in the Company&#146;s Registration
Statement on Form 8-A as filed with the Commission on August&nbsp;14, 1997.</TD>
</TR>

</TABLE>



<P align="left" style="font-size: 10pt"><U><B>Item&nbsp;4.</B></U> <U><B>Description of Securities.</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No response is required to this item.



<P align="left" style="font-size: 10pt"><U><B>Item&nbsp;5.</B></U> <U><B>Interests of Named Experts and Counsel.</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No response is required to this item.



<P align="left" style="font-size: 10pt"><U><B>Item&nbsp;6.</B></U> <U><B>Indemnification of Officers and Directors.</B></U>



<P align="left" style="font-size: 10pt">&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.


<P align="left" style="font-size: 10pt">&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 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


<P align="center" style="font-size: 10pt">2
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">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.



<P align="left" style="font-size: 10pt">&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.



<P align="left" style="font-size: 10pt"><U><B>Item&nbsp;7.</B></U> <U><B>Exemption From Registration Claimed.</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No response to this item is required.



<P align="left" style="font-size: 10pt"><U><B>Item&nbsp;8.</B></U> <B><U>Exhibits.</U></B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed with or incorporated by reference into this Registration
Statement:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description of Exhibit</B></TD>
</TR>

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<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Articles of Incorporation of the Company (incorporated herein by reference to the
exhibit of the same number in the Company&#146;s Registration Statement on Form&nbsp;SB-2 under the
Securities Act of 1933, as amended, Registration No.&nbsp;333-69763, previously filed with the
Commission).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Articles of Amendment to the Articles of Incorporation of the Company (incorporated
herein by reference to the exhibit of the same number in the Company&#146;s Annual Report on
Form&nbsp;10-KSB for the year ended December&nbsp;31, 2000, previously filed with the Commission).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By-Laws of the Company (incorporated herein by reference to the exhibit of the same
number in the Company&#146;s Registration Statement on Form&nbsp;SB-2 under the Securities Act of
1933, as amended (Registration No.&nbsp;333-69763)).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Smith, Gambrell &#038; Russell, LLP, as to the legality of the securities being
registered.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Cherry, Bekaert &#038; Holland, L.L.P.</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">3
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description of Exhibit</B></TD>
</TR>

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<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Smith, Gambrell &#038; Russell, LLP (contained in their opinion filed as Exhibit
5.1).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney (contained on the signature page to this Registration Statement).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="left" style="font-size: 10pt"><U><B>Item&nbsp;9.</B></U> <U><B>Undertakings.</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned Registrant hereby undertakes:



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.


<P align="left" style="font-size: 10pt">&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.


<P align="left" style="font-size: 10pt">&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.



<P align="center" style="font-size: 10pt">4
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&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 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 4th day of April, 2005.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">GEORGIA-CAROLINA BANCSHARES, INC.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">/s/ Patrick G. Blanchard</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Patrick G. Blanchard<BR>
<I>President and Chief Executive Officer<BR>
(Principal Executive Officer)</I></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">/s/ James M. Thomas</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">James M. Thomas<BR>
<I>Chief Financial Officer<BR>
(Principal Financial and Accounting Officer)</I></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">5
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt">&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 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.


<P align="left" style="font-size: 10pt">&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:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="25%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>DIRECTORS</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>DATE</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>DIRECTORS</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>DATE</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Patrick G. Blanchard
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Hugh L. Hamilton, Jr.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Patrick G. Blanchard
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Hugh L. Hamilton, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Remer Y. Brinson, III
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ William G. Hatcher, Sr.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Remer Y. Brinson, III
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">William G. Hatcher</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Larry DeMeyers
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ George O. Hughes
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Larry DeMeyers
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">George O. Hughes</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Philip G. Farr
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ George H. Inman
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Philip G. Farr
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">George H. Inman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Samuel A. Fowler, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ David W. Joesbury, Sr.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Samuel A. Fowler, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">David W. Joesbury</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Arthur J. Gay, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ James L. Lemley, M.D.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Arthur J. Gay, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">James L. Lemley, M.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Joseph D. Greene
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Julian W. Osbon
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Joseph D. Greene
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Julian W. Osbon</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ J. Randall Hall
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Bennye M. Young
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">J. Randall Hall
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bennye M. Young</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ John W. Lee
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ A. Montague Miller
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">John W. Lee
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">A. Montague Miller</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Robert N. Wilson, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;30, 2005</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert N. Wilson, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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<P align="center" style="font-size: 10pt">6
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt"><U><B>Exhibit&nbsp;Index</B></U>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
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    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description of Exhibit</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Smith, Gambrell &#038; Russell, LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Cherry, Bekaert &#038; Holland, L.L.P.</TD>
</TR>
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</DIV>


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<P align="center" style="font-size: 10pt">7
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</HTML>
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GEORGIA-CAROLINA BANCSHARES, INC.
As filed with the Securities and Exchange Commission on April 5, 2005
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
(I.R.S. Employer Identification
of incorporation or organization)
Number)
2805 Wrightsboro Road, Augusta, Georgia 30909
(Address of Principal Executive Offices)           (Zip Code)
2004 Incentive 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:
Kenneth L. Mooney, 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
Options and Shares of
$.001 par value Common
330,125
Stock
Shares
$
17.50
$
5,777,188
$
680
(1)
Estimated solely for the purpose of calculating the registration fee pursuant to Rule
457(c) based upon the average of the high and low sales prices of the common stock as reported on the Electronic
Bulletin Board Over-the-Counter Market on March 30, 2005, as adjusted for the 5-for-4 stock split effected on
April 1, 2005.
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, 2004; and
2.
The 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 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
2
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
4.1
Articles of Incorporation of the Company (incorporated herein by reference to the
exhibit of the same number in the Company's Registration Statement on Form SB-2 under the
Securities Act of 1933, as amended, Registration No. 333-69763, previously filed with the
Commission).
4.1.1
Articles of Amendment to the Articles of Incorporation of the Company (incorporated
herein by reference to the exhibit of the same number in the Company's Annual Report on
Form 10-KSB for the year ended December 31, 2000, previously filed with the Commission).
4.2
By-Laws of the Company (incorporated herein by reference to the exhibit of the same
number in the Company's Registration Statement on Form SB-2 under the Securities Act of
1933, as amended (Registration No. 333-69763)).
5.1
Opinion of Smith, Gambrell & Russell, LLP, as to the legality of the securities being
registered.
23.1
Consent of Cherry, Bekaert & Holland, L.L.P.
3
Exhibit Number
Description of Exhibit
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).
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
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 4th day of April, 2005.
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)
5
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.
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:
DIRECTORS
DATE
DIRECTORS
DATE
/s/ Patrick G. Blanchard
March 30, 2005
/s/ Hugh L. Hamilton, Jr.
March 30, 2005
Patrick G. Blanchard
Hugh L. Hamilton, Jr.
/s/ Remer Y. Brinson, III
March 30, 2005
/s/ William G. Hatcher, Sr.
March 30, 2005
Remer Y. Brinson, III
William G. Hatcher
/s/ Larry DeMeyers
March 30, 2005
/s/ George O. Hughes
March 30, 2005
Larry DeMeyers
George O. Hughes
/s/ Philip G. Farr
March 30, 2005
/s/ George H. Inman
March 30, 2005
Philip G. Farr
George H. Inman
/s/ Samuel A. Fowler, Jr.
March 30, 2005
/s/ David W. Joesbury, Sr.
March 30, 2005
Samuel A. Fowler, Jr.
David W. Joesbury
/s/ Arthur J. Gay, Jr.
March 30, 2005
/s/ James L. Lemley, M.D.
March 30, 2005
Arthur J. Gay, Jr.
James L. Lemley, M.D.
/s/ Joseph D. Greene
March 30, 2005
/s/ Julian W. Osbon
March 30, 2005
Joseph D. Greene
Julian W. Osbon
/s/ J. Randall Hall
March 30, 2005
/s/ Bennye M. Young
March 30, 2005
J. Randall Hall
Bennye M. Young
/s/ John W. Lee
March 30, 2005
/s/ A. Montague Miller
March 30, 2005
John W. Lee
A. Montague Miller
/s/ Robert N. Wilson, Jr.
March 30, 2005
Robert N. Wilson, Jr.
6
Exhibit Index
Exhibit
Number
Description of Exhibit
5.1
Opinion of Smith, Gambrell & Russell, LLP.
23.1
Consent of Cherry, Bekaert & Holland, L.L.P.
7