Colony Bankcorp, Inc. Announces Transfer of Listing of Common Stock to the New York Stock Exchange

Rhea-AI Summary

Colony Bankcorp (Nasdaq: CBAN) announced the transfer of its common stock listing from Nasdaq to the New York Stock Exchange (NYSE). The stock will begin trading on NYSE under the ticker symbol 'CBAN' on November 18, 2024, and will continue trading on Nasdaq until market close on November 15, 2024. CEO T. Heath Fountain stated this strategic move aims to drive greater long-term value for shareholders. The NYSE highlighted that Colony Bankcorp is the twentieth bank to transfer to their exchange since 2021.

Positive

• Strategic listing upgrade to NYSE may enhance company visibility and prestige
• Potential for improved trading liquidity by joining larger exchange

Negative

• None.

Insights

Financial Market Analyst

The exchange transfer from Nasdaq to NYSE represents a strategic move that could enhance CBAN's visibility and liquidity. While both exchanges are prestigious, the NYSE's specialist trading system and higher listing requirements may provide additional market-making support and stability for CBAN's stock. The NYSE's global recognition and strong banking sector presence could attract more institutional investors and international exposure.

With a market cap of $265.6 million, CBAN joins a growing trend of regional banks choosing NYSE, which could signal confidence in their growth trajectory. However, the actual impact on stock performance and trading volumes remains to be seen, as exchange transfers historically have shown mixed results in terms of immediate market benefits.

FITZGERALD, Ga.--(BUSINESS WIRE)-- Colony Bankcorp, Inc. (Nasdaq: CBAN) (“Colony” or the “Company”) the parent company of Colony Bank, announced today that it is transferring the listing of its common stock to the New York Stock Exchange (NYSE) from The Nasdaq Stock Market LLC (Nasdaq).

Colony Bankcorp’s common stock is expected to begin trading on the NYSE on November 18, 2024, under the ticker symbol of “CBAN.” Colony Bankcorp expects its common stock to continue to trade on Nasdaq until the close of the market on November 15, 2024.

“We are excited to announce our partnership with the New York Stock Exchange. Since our founding in 1975, we have been committed to enabling progress for the customers, team members, communities, and shareholders we serve. We believe this strategic move will help us drive greater long-term value and sustainable success for our shareholders as we join many of the world’s leading and most prestigious companies that trade on the NYSE,” said T. Heath Fountain, Chief Executive Officer of Colony Bankcorp.

“We are pleased to welcome Colony Bankcorp to the New York Stock Exchange,” said Chris Taylor, Vice President, Global Head of Listings and Services at NYSE Group. “As the twentieth bank to transfer to the NYSE since 2021, it should feel right at home in our community of listed companies.”

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. 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/20241105990808/en/

T. Heath Fountain

Chief Executive Officer

(229) 426-6000 (Ext 6012)

Source: Colony Bankcorp, Inc.

FAQ

When will Colony Bankcorp (CBAN) start trading on NYSE?

Colony Bankcorp (CBAN) will begin trading on the NYSE on November 18, 2024.

What is Colony Bankcorp's (CBAN) last trading day on Nasdaq?

Colony Bankcorp's last trading day on Nasdaq will be November 15, 2024.

Will Colony Bankcorp change its ticker symbol after moving to NYSE?

No, Colony Bankcorp will maintain its current ticker symbol 'CBAN' when it transfers to the NYSE.

How many banks have transferred to NYSE since 2021?

According to the NYSE, Colony Bankcorp is the twentieth bank to transfer to their exchange since 2021.