Colony Bankcorp, Inc. Announces That KBRA Affirms the Company’s Ratings

Rhea-AI Summary

Colony Bankcorp (Nasdaq: CBAN) announced that the Kroll Bond Rating Agency (KBRA) has affirmed the company's ratings as of May 9, 2024. The affirmed ratings include a BBB for senior unsecured debt, BBB- for subordinated debt, and K3 for short-term debt. KBRA also provided a Stable outlook for all long-term ratings. Key positive factors cited by KBRA include Colony’s robust deposit franchise, diversified revenue stream, and stable loan portfolio credit profile.

Positive

• KBRA affirmed a BBB rating for Colony Bankcorp's senior unsecured debt.
• The subordinated debt rating of BBB- was also affirmed by KBRA.
• KBRA provided a Stable outlook for all long-term ratings.
• The Company's diversified revenue stream was cited positively by KBRA.
• KBRA highlighted the stability of Colony Bankcorp's loan portfolio credit profile.

Negative

• The short-term debt rating of K3 indicates a moderate level of risk in the short term.
• No upgrades were noted in the ratings, indicating no significant improvement in the company’s creditworthiness.

FITZGERALD, Ga.--(BUSINESS WIRE)-- Colony Bankcorp, Inc. (Nasdaq: CBAN) (“Colony” or the “Company”) announced today the Company's ratings were affirmed by the Kroll Bond Rating Agency (KBRA) in its press release dated May 9, 2024. KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for the Company. KBRA indicated a Stable outlook for all long-term ratings and among its key credit considerations, cited favorable views of the Company’s durable deposit franchise, diversified revenue stream, and stability of the loan portfolio credit profile.

About Colony Bankcorp
Colony Bankcorp, Inc. is the bank holding company for Colony Bank. Founded in Fitzgerald, Georgia in 1975, Colony operates locations throughout Georgia and has expanded to serve Birmingham, Alabama, as well as Tallahassee and the Florida Panhandle. At Colony Bank, we offer a range of banking solutions for personal and business customers. In addition to traditional banking services, Colony provides specialized solutions including mortgage, government guaranteed lending, consumer insurance, wealth management, and merchant services. Colony’s common stock is traded on the NASDAQ Global Market under the symbol “CBAN.” For more information, please visit www.colony.bank. You can also follow the Company on social media.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240513762042/en/

Derek Shelnutt

EVP & Chief Financial Officer

229-426-6000 ext. 6119

Source: Colony Bankcorp, Inc.

FAQ

What ratings did KBRA affirm for Colony Bankcorp (CBAN)?

KBRA affirmed a BBB rating for senior unsecured debt, BBB- for subordinated debt, and K3 for short-term debt.

When did KBRA affirm the ratings for Colony Bankcorp (CBAN)?

KBRA affirmed the ratings on May 9, 2024.

What is the outlook provided by KBRA for Colony Bankcorp's (CBAN) long-term ratings?

KBRA provided a Stable outlook for Colony Bankcorp's long-term ratings.

What key factors did KBRA cite for affirming Colony Bankcorp's (CBAN) ratings?

KBRA cited Colony Bankcorp's durable deposit franchise, diversified revenue stream, and stability of the loan portfolio credit profile as key factors for the ratings affirmation.