$CBAN

COLONY BANKCORP INC

CIK:0000711669|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 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
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)
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 (in dollars per share)	$ 0.51	$ 0.46	$ 0.9	$ 0.83
Diluted (in dollars per share)	0.51	0.46	0.9	0.83
Dividends declared per share	$ 0.12	$ 0.115	$ 0.24	$ 0.23
Weighted average common shares outstanding, basic (in shares)	21,160,128	17,448,945	21,191,011	17,478,836
Weighted average common shares outstanding, diluted (in shares)	21,160,128	17,448,945	21,191,011	17,478,836
Service charges on deposits
Noninterest income
Non interest revenue from banking services	$ 2,561	$ 2,219	$ 5,122	$ 4,391
Mortgage fee income
Noninterest income
Non interest revenue from banking services	2,141	1,984	4,076	3,563
Interchange fees
Noninterest income
Non interest revenue from banking services	$ 2,400	$ 2,073	$ 4,586	$ 4,011

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 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
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest	31,655	28,654
Cash paid during the period for income taxes	2,515	2,020
Noncash Investing and Financing Activities
Transfers to other real estate	1,506	$ 810
Adjustments to goodwill	$ (826)

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
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
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