NYSE: CBAN
COLONY BANKCORP INCCIK 0000711669 · SIC 6022 · State Savings Banks
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Colony Bankcorp acquires FSRL for $159M in stock-and-cash merger at 0.94 exchange ratio
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Colony Q2 net income +36% to $10.9M; announces First Reliance acquisition
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Colony Bankcorp reports Q2 net income of $10.9M, raises dividend to $0.12, merger on track
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Colony Bankcorp to acquire First Reliance Bancshares for $163M, creating $5B Southeast bank
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Colony Bankcorp shareholders approve all proposals at 2026 Annual Meeting
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net income $8.2M. Colony Bankcorp Q1 profit jumps 24% on TC Bancshares deal; margin expands but charge-offs triple
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Colony Bankcorp reports Q1 2026 earnings, declares quarterly dividend
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net income $28.3M. Colony Bankcorp completes acquisition, margin expands 42bp as rate cuts boost deposits
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Latest financial statements
From 10-Q filed Aug 5, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Income (Unaudited)
(dollars in thousands, except per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Interest income | ||||
| Loans, including fees | 39,114 | 30,361 | 77,088 | 58,337 |
| Investment securities | 4,837 | 5,148 | 9,760 | 10,375 |
| Deposits with other banks and short term investments | 1,830 | 1,326 | 3,823 | 3,648 |
| Total interest income | 45,781 | 36,835 | 90,671 | 72,360 |
| Interest expense | ||||
| Deposits | 13,237 | 11,632 | 26,051 | 23,405 |
| Federal Home Loan Bank advances | 1,784 | 1,889 | 3,769 | 3,762 |
| Other borrowings | 891 | 929 | 1,779 | 1,856 |
| Total interest expense | 15,912 | 14,450 | 31,599 | 29,023 |
| Net interest income | 29,869 | 22,385 | 59,072 | 43,337 |
| Provision for credit losses | 1,900 | 450 | 3,650 | 1,950 |
| Net interest income after provision for credit losses | 27,969 | 21,935 | 55,422 | 41,387 |
| Noninterest income | ||||
| Service charges on deposits | 2,561 | 2,219 | 5,122 | 4,391 |
| Mortgage fee income | 2,141 | 1,984 | 4,076 | 3,563 |
| Gain on sales of SBA loans | 506 | 1,550 | 1,468 | 2,585 |
| Other SBA income | 692 | 595 | 1,406 | 1,251 |
| Loss on sales of securities | (186) | — | (186) | — |
| Interchange fees | 2,400 | 2,073 | 4,586 | 4,011 |
| BOLI income | 1,217 | 423 | 1,694 | 819 |
| Insurance commissions | 922 | 766 | 1,766 | 1,235 |
| Other | 1,905 | 488 | 2,919 | 1,287 |
| Total noninterest income | 12,158 | 10,098 | 22,851 | 19,142 |
| Noninterest expense | ||||
| Salaries and employee benefits | 15,539 | 12,865 | 31,462 | 24,770 |
| Occupancy and equipment | 2,109 | 1,683 | 4,066 | 3,263 |
| Acquisition related expenses | 943 | — | 2,580 | — |
| Information technology expense | 2,902 | 2,592 | 5,675 | 5,069 |
| Professional fees | 939 | 742 | 2,059 | 1,490 |
| Advertising and public relations | 982 | 942 | 2,088 | 1,747 |
| Communications | 235 | 188 | 460 | 393 |
| Other | 2,782 | 2,992 | 5,716 | 5,493 |
| Total noninterest expense | 26,431 | 22,004 | 54,106 | 42,225 |
| Income before income taxes | 13,696 | 10,029 | 24,167 | 18,304 |
| Income taxes | 2,839 | 2,051 | 5,106 | 3,713 |
| Net income | 10,857 | 7,978 | 19,061 | 14,591 |
| Earnings per common share: | ||||
| Basic | 0.51 | 0.46 | 0.90 | 0.83 |
| Diluted | 0.51 | 0.46 | 0.90 | 0.83 |
| Dividends declared per share | 0.1200 | 0.1150 | 0.2400 | 0.2300 |
| Weighted average common shares outstanding: | ||||
| Basic | 21,160,128 | 17,448,945 | 21,191,011 | 17,478,836 |
| Diluted | 21,160,128 | 17,448,945 | 21,191,011 | 17,478,836 |
Consolidated Balance Sheets
(dollars in thousands, except per share data)
| Description | June 30, 2026 (Unaudited) | December 31, 2025 (Audited) |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | 25,257 | 27,307 |
| Interest-bearing deposits in banks and federal funds sold | 134,362 | 230,333 |
| Cash and cash equivalents | 159,619 | 257,640 |
| Investment securities available-for-sale, at fair value (amortized cost $400,194 and $412,395 respectively) | 370,821 | 383,817 |
| Investment securities held-to-maturity, at amortized cost (fair value $331,123 and $354,290, respectively) | 365,251 | 386,618 |
| Other investments | 17,864 | 19,176 |
| Loans held for sale | 24,218 | 78,990 |
| Loans, net of unearned income | 2,464,834 | 2,381,224 |
| Allowance for credit losses | (22,034) | (23,014) |
| Loans, net | 2,442,800 | 2,358,210 |
| Premises and equipment | 37,139 | 37,045 |
| Other real estate owned | 1,829 | 1,048 |
| Goodwill | 63,047 | 63,873 |
| Other intangible assets | 6,971 | 7,851 |
| Bank-owned life insurance | 68,693 | 68,457 |
| Deferred income taxes, net | 17,986 | 19,582 |
| Other assets | 51,345 | 53,094 |
| Total assets | 3,627,583 | 3,735,401 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Liabilities: | ||
| Deposits | ||
| Noninterest-bearing | 464,062 | 526,803 |
| Interest-bearing | 2,508,114 | 2,540,718 |
| Total deposits | 2,972,176 | 3,067,521 |
| Federal Home Loan Bank advances | 169,989 | 194,972 |
| Other borrowings | 63,179 | 63,132 |
| Other liabilities | 32,273 | 33,856 |
| Total liabilities | 3,237,617 | 3,359,481 |
| Stockholders’ equity: | ||
| Preferred stock, no par value; 10,000,000 shares authorized, none issued or outstanding as of June 30, 2026 and December 31, 2025, respectively | — | — |
| Common stock, par value $1.00 per share; 50,000,000 shares authorized, 21,158,353 and 21,251,695 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 21,158 | 21,252 |
| Paid-in capital | 227,246 | 228,577 |
| Retained earnings | 174,558 | 160,584 |
| Accumulated other comprehensive loss, net of tax | (32,996) | (34,493) |
| Total stockholders’ equity | 389,966 | 375,920 |
| Total liabilities and stockholders’ equity | 3,627,583 | 3,735,401 |
Consolidated Statements of Cash Flows (Unaudited)
(dollars in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Operating Activities | ||
| Net income | 19,061 | 14,591 |
| Adjustments reconciling net income to net cash provided by operating activities: | ||
| Provision for credit losses | 3,650 | 1,950 |
| Depreciation, amortization, and accretion | 6,074 | 3,556 |
| Equity method investment income | (29) | (195) |
| Stock-based compensation expense | 364 | 370 |
| Net change in servicing asset | 96 | 289 |
| Loss on sales of securities | 186 | — |
| Gain on sales of SBA loans | (1,468) | (2,585) |
| Loss on sales of other real estate owned and repossessions | 41 | 136 |
| Gain on sales of premises & equipment | (13) | — |
| Originations of loans held for sale | (110,091) | (130,990) |
| Proceeds from sales of loans held for sale | 144,657 | 151,198 |
| Change in bank-owned life insurance | (995) | (841) |
| Deferred tax expense | 788 | 470 |
| Change in other assets | 1,776 | (5,846) |
| Change in other liabilities | (729) | 1,685 |
| Net cash provided by operating activities | 63,368 | 33,788 |
| Investing Activities | ||
| Purchases of investment securities, available-for-sale | (12,722) | (28,210) |
| Proceeds from maturities, calls, and paydowns of investment securities, available-for-sale | 22,767 | 27,129 |
| Proceeds from sales of investment securities, available-for-sale | 1,632 | — |
| Proceeds from maturities, calls and paydowns of securities, held-to-maturity | 18,584 | 21,532 |
| Proceeds from sales of investment securities, held-to-maturity | 3,485 | — |
| Change in loans, net | (69,563) | (153,101) |
| Purchase of premises and equipment | (1,374) | (431) |
| Proceeds from sales of premises and equipment | 35 | — |
| Proceeds from insurance related to fire at bank branch | — | 803 |
| Proceeds from sales of other real estate owned and repossessions | 888 | 540 |
| Proceeds from bank-owned life insurance | 759 | — |
| Redemption of Federal Home Loan Bank Stock | 1,121 | (38) |
| Redemption of equity securities | 220 | — |
| Cash paid Insurance acquisition | — | (3,500) |
| Net cash used in investing activities | (34,168) | (135,276) |
| Financing Activities | ||
| Change in noninterest-bearing customer deposits | (62,741) | (27,498) |
| Change in interest-bearing customer deposits | (32,604) | 15,785 |
| Dividends paid for common stock | (5,087) | (4,022) |
| Repayments on Federal Home Loan Bank advances | (125,000) | (100,000) |
| Proceeds from Federal Home Loan Bank advances | 100,000 | 100,000 |
| Repurchase and retirement of shares | (1,766) | (1,589) |
| Tax withholding related to vesting of restricted stock | (23) | (77) |
| Net cash used in financing activities | (127,221) | (17,401) |
| Net decrease in cash and cash equivalents | (98,021) | (118,889) |
| Cash and cash equivalents at beginning of period | 257,640 | 231,034 |
| Cash and cash equivalents at end of period | 159,619 | 112,145 |
Amounts as printed on the EDGAR/iXBRL face — (dollars in thousands, except per share data); (dollars in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗