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Colony Bankcorp Inc (NASDAQ: CBAN) is a prominent single bank holding company headquartered in Fitzgerald, Georgia, with an asset portfolio of $1.15 billion. The company operates twenty-nine branch locations across central and south Georgia, serving major cities such as Albany, Ashburn, Broxton, Centerville, Chester, Columbus, Cordele, Douglas, Eastman, Fitzgerald, Leesburg, Moultrie, Pitts, Quitman, Rochelle, Savannah, Soperton, Sylvester, Thomaston, Tifton, Valdosta, and Warner Robins.
Colony Bankcorp Inc offers a comprehensive suite of banking services tailored to meet the needs of both retail and commercial clients. The company’s core offerings encompass a broad range of loan products, including loans to small and medium-sized enterprises, residential and commercial construction loans, land development loans, commercial real estate loans, agri-business and production loans, and residential mortgage loans. Additionally, they provide consumer loans and a variety of deposit products, such as demand, savings, and time deposits.
The company operates through several key segments, including the Banking Division, the Retail Mortgage Division, and specialized small business lending. A significant portion of Colony Bankcorp’s revenue is generated from its Banking Division, which underscores its robust banking operations.
Recent achievements include strategic expansions and service enhancements to better serve their client base. For instance, the company has been actively engaging in partnerships to innovate and expand digital banking services, aimed at providing more convenience to their customers. Their customer-centric approach and commitment to community banking have helped them maintain a solid financial condition and foster trust among their clients.
For the latest updates on Colony Bankcorp Inc, including financial performance, recent events, and new developments, browse through the most recent news articles and press releases available on our website.
Colony Bankcorp (Nasdaq: CBAN) has announced its participation in the 25th Annual KBW Community Bank Investor Conference. The event is scheduled for July 30-31, 2024 in New York City. Heath Fountain, CEO, and Derek Shelnutt, CFO, will represent the company at the conference.
Investors and interested parties can access the presentation materials on Colony Bankcorp's website in the Investor Relations section. This conference provides an opportunity for Colony Bankcorp to showcase its performance and strategy to potential investors and industry analysts.
Colony Bankcorp (Nasdaq: CBAN) reported improved financial results for Q2 2024. Net income increased to $5.5 million ($0.31 per diluted share), up from $5.3 million in Q1 2024 and Q2 2023. Operating net income rose to $6.0 million ($0.34 adjusted EPS). Total loans grew by 0.35% to $1.87 billion, while deposits decreased by $62.5 million to $2.46 billion. The company declared a quarterly cash dividend of $0.1125 per share.
Key highlights include solid credit quality, with decreases in classified and criticized loans, and low past due levels. The net interest margin slightly declined but remained resilient. The company's capital position remains strong, with ratios exceeding regulatory minimums for 'well-capitalized' status.
Colony Bankcorp (Nasdaq: CBAN) will release its second quarter 2024 financial results on Wednesday, July 24, 2024, after the stock market closes.
A live conference call will be held the next day, Thursday, July 25, 2024, at 9:00 AM ET. Interested parties can dial in at 800-267-6316 using Conference ID: COLONY2Q, and are encouraged to call in 15 minutes early.
A replay of the conference call will be available until August 1, 2024, by dialing 800-938-2796. The financial results and an investor presentation will also be posted on the company's website at www.colony.bank under the Investor Relations section.
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.
Colony Bankcorp, Inc. (Nasdaq: CBAN) will have its CEO and CFO participate in the 2024 Gulf South Bank Conference on April 29-30, 2024. The investor presentation is available on the company's website.
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