Colony Bankcorp Inc - CBAN STOCK NEWS

Colony Bankcorp, Inc. (Nasdaq: CBAN) reported a net income of $5.3 million or $0.34 per diluted share for Q1 2022, up from $4.2 million in Q4 2021. The company announced a quarterly cash dividend of $0.1075 per share, payable on May 20, 2022. Total loans reached $1.4 billion, a 1.8% increase from the previous quarter. The firm recorded a $50,000 provision for loan losses and plans to save $3 million annually through workforce reductions and branch closures. Total assets decreased slightly to $2.7 billion, while net interest income rose significantly to $19.3 million compared to $14.4 million in Q1 2021.

Colony Bankcorp, Inc. (NASDAQ: CBAN) has announced the pricing of an upsized public offering of 3,346,509 shares of common stock at $16.50 per share, generating gross proceeds of approximately $55.2 million. After deducting costs, net proceeds are expected to be about $52.2 million, intended for general corporate purposes including growth investments in Colony Bank and other strategic opportunities. The offering is set to close around February 10, 2022, with Hovde Group, LLC as the lead underwriter.

Colony Bankcorp, Inc. (NASDAQ: CBAN) will have its leadership team, including President and CEO T. Heath Fountain, CFO Tracie Youngblood, and CSO Andy Borrmann, participate in the Janney West Coast CEO Forum on February 2-3, 2022, in Scottsdale, Arizona. The company's presentation materials will be available on their Investor Relations page at www.colony.bank. Founded in 1975, Colony Bankcorp operates 39 locations in Georgia, offering various banking services and consumer insurance products.

Colony Bankcorp, Inc. (Nasdaq: CBAN) has declared a quarterly cash dividend of $0.1075 per share, effective February 18, 2022, for shareholders of record as of February 4, 2022. For Q4 2021, net income reached $4.2 million, or $0.30 per diluted share, bringing the annual net income to $18.7 million, or $1.66 per diluted share. Total assets increased to $2.7 billion, while total loans rose to $1.38 billion. The company's strong capital position and low non-performing asset levels indicate robust financial health.

Colony Bankcorp, Inc. (NASDAQ: CBAN) has launched a new Merchant Services division aimed at providing businesses with seamless payment processing solutions. This initiative is led by industry veterans Steve Raines and Tami Tetro. According to CEO Heath Fountain, the division is part of the company's strategy to diversify revenue streams and enhance non-interest income, catering to a wider range of client needs while maintaining personalized service. The addition of these experienced professionals is expected to significantly benefit Colony Bank's service offerings.

Colony Bankcorp, Inc. (NASDAQ: CBAN) announced participation in the Hovde Financial Services Conference scheduled for November 3-5, 2021, in Phoenix, Arizona. Key executives, including CEO T. Heath Fountain and CFO Tracie Youngblood, will represent the company. Presentation materials will be accessible on Colony's Investor Relations page at www.colony.bank. Established in 1975 and headquartered in Fitzgerald, Georgia, Colony Bank offers extensive banking services across 39 locations in Georgia, including personal, business, and consumer insurance solutions.

Colony Bankcorp (CBAN) reported a net income of $5.6 million, or $0.45 per diluted share, for Q3 2021, up from $3.1 million, or $0.33 per diluted share, in Q3 2020. Operating net income rose to $7.1 million, or $0.57 per diluted share. For the nine months ended Sept 30, 2021, net income reached $14.5 million, compared to $6.9 million in the same period last year. The bank declared a quarterly cash dividend of $0.1025, payable on Nov 17, 2021. Total assets increased to $2.5 billion, up 42.8% year-over-year, largely from the SouthCrest acquisition, with loans growing 20.3%. Noninterest income rose 25%.

Colony Bankcorp, Inc. (NASDAQ: CBAN) announced its participation in the Janney Community Bank Conference on September 20-21, 2021, in Atlanta. Key executives, including President and CEO T. Heath Fountain, will engage in one-on-one meetings during the event. Presentation materials will be accessible on the Company's website. Founded in 1975 and headquartered in Fitzgerald, Georgia, Colony operates 39 locations across the state, offering a variety of banking services and consumer insurance products. For more details, visit www.colony.bank.

Colony Bankcorp (CBAN) has successfully acquired SouthCrest Financial Group, adding over $700 million in assets and solidifying its status as Georgia's largest community bank with total assets of approximately $2.4 billion. SouthCrest shareholders could choose between $10.45 in cash or 0.7318 shares of Colony's stock, with the merger valued at around $96 million. Additionally, Colony has acquired The Barnes Agency, enhancing its insurance offerings under the new subsidiary, Colony Insurance. These moves align with Colony's strategy to expand market presence and diversify revenue streams.