Colony Bankcorp Files 8-K on Financials and Personnel Changes

Ticker: CBAN · Form: 8-K · Filed: Jan 22, 2025 · CIK: 711669

Sentiment: neutral

Topics: financial-results, personnel-changes, regulation-fd

Related Tickers: CBAN

TL;DR

Colony Bankcorp dropped an 8-K detailing financials and exec changes. Watch this space.

AI Summary

Colony Bankcorp, Inc. filed an 8-K on January 22, 2025, reporting on its results of operations and financial condition. The filing also disclosed the departure of directors or certain officers, the election of directors, and the appointment of certain officers, along with compensatory arrangements. Additionally, it included information on Regulation FD disclosures and financial statements and exhibits.

Why It Matters

This filing provides crucial updates on Colony Bankcorp's financial health and leadership, impacting investor confidence and strategic direction.

Risk Assessment

Risk Level: medium — The filing covers financial results and personnel changes, which can introduce uncertainty and affect stock performance.

Key Numbers

Key Players & Entities

FAQ

What specific financial results are being reported in this 8-K?

The filing indicates it covers 'Results of Operations and Financial Condition' but does not provide specific figures within the provided text.

Who are the directors or officers departing or being appointed?

The filing states these events occurred but does not name the individuals involved in the provided text.

What are the key details of the compensatory arrangements mentioned?

The filing notes that compensatory arrangements are being disclosed, but the specific details are not included in the provided text.

What is the significance of the Regulation FD Disclosure item?

This indicates that the company is making public disclosures to ensure broad public dissemination of material information, as required by Regulation FD.

Where are Colony Bankcorp's principal executive offices located?

Colony Bankcorp's principal executive offices are located at 115 South Grant Street, Fitzgerald, Georgia 31750.

Filing Stats: 1,138 words · 5 min read · ~4 pages · Grade level 11.1 · Accepted 2025-01-22 16:30:09

Key Financial Figures

Filing Documents

02. Results of Operation and Financial Condition

Item 2.02. Results of Operation and Financial Condition On January 22, 2025 , Colony Bankcorp, Inc. issued a press release announcing its consolidated financial results for the fourth quarter ended December 31, 2024, as well as the announcement of a regular quarterly cash dividend. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 19, 2025, Colony Bank ("Bank"), a Georgia Bank and wholly-owned subsidiary of Colony Bankcorp, Inc. (the "Holding Company" and, together with the Bank, the "Company"), entered into an employment agreement with Leonard Bateman, Jr. ("Employee"), to continue as the Chief Credit Officer of both the Holding Company and the Bank (the "Employment Agreement"). Below is a summary of the material terms of the Employment Agreement. The Employment Agreement is effective as of January 19, 2025, at which time Mr. Bateman's prior employment agreement dated January 19, 2023, will expire. The Employment Agreement has a two-year term and provides for an annual base salary of $255,000 per year. Mr. Bateman will have an opportunity to receive an annual bonus based upon the achievement of performance goals established from year to year by the Compensation Committee. Mr. Bateman will also have an opportunity to participate in the Bank's benefits plans available to other similarly-situated Company employees, subject to the terms and conditions of such plans, and he will be eligible for PTO and holidays consistent with the Bank's policies. Pursuant to the Employment Agreement, if a change in control of the Company occurs during the term of the Employment Agreement and, within twelve months following such change in control, the Company terminates Mr. Bateman's employment other than for "cause" or "disability" or Mr. Bateman resigns for

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure The Company is furnishing a copy of its most recent investor presentation, which it intends to use in connection with certain community group presentations. A copy of the presentation materials to be used by the Company is furnished as Exhibit 99.2 to this Current Report and is incorporated herein by reference. The Company will also host an investor earnings call at 9:00 a.m. EST on Thursday, January 23, 2025. In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit Number Description 10.1 Employment Agreement between Colony Bankcorp, Inc. and Leonard Bateman , Jr. 99.1 Colony Bankcorp, Inc., press release dated January 2 2 , 202 5 99.2 Investor Presentation dated January 2 2 , 202 5 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COLONY BANKCORP, INC. Date: January 22, 2025 By: /s/ Derek Shelnutt Derek Shelnutt Executive Vice President and Chief Financial Officer

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