Colony Bankcorp, Inc. Reports Third Quarter 2026 Results Declares Quarterly Cash Dividend of $0.12 Per Share

The planned property sale and securities repositioning are expected to increase tangible book value per share and recurring earnings.

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FITZGERALD, Ga.--(BUSINESS WIRE)-- Colony Bankcorp, Inc. (NYSE: CBAN) (“Colony” or the “Company”) today reported financial results for the third quarter of 2026. Financial highlights are shown below.

Financial Highlights:

• Net income was $10.5 million, or $0.50 per diluted share, for the third quarter of 2026, compared to $10.9 million, or $0.51 per diluted share, for the second quarter of 2026, and $5.8 million, or $0.33 per diluted share, for the third quarter of 2025.
• Operating net income was $11.6 million, or $0.54 of operating earnings per diluted share, for the third quarter of 2026, compared to $11.0 million, or $0.52 of operating earnings per diluted share, for the second quarter of 2026, and $8.2 million, or $0.47 of operating earnings per diluted share, for the third quarter of 2025. (See Reconciliation of Non-GAAP Measures).
• Provision for credit losses of $1.7 million was recorded in the third quarter of 2026 compared to $1.9 million in the second quarter of 2026, and $900,000 in the third quarter of 2025.
• Total loans, excluding loans held for sale, were $2.48 billion at September 30, 2026, an increase of $12.3 million, or 0.50%, from the prior quarter.
• Total deposits were $2.96 billion and $2.97 billion at September 30, 2026 and June 30, 2026, respectively, a decrease of $14.5 million.
• Mortgage production was $96.5 million, and mortgage sales totaled $69.2 million in the third quarter of 2026 compared to $115.4 million and $67.3 million, respectively, for the second quarter of 2026.
• Small Business Specialty Lending (“SBSL”) closed $29.9 million in Small Business Administration (“SBA”) loans and sold $12.7 million in SBA loans in the third quarter of 2026 compared to $13.0 million and $5.5 million, respectively, for the second quarter of 2026.

The Company also announced that on October 28, 2026, the Board of Directors declared a quarterly cash dividend of $0.12 per share, to be paid on its common stock on November 25, 2026, to shareholders of record as of the close of business on November 11, 2026. The Company had 21,220,149 shares of its common stock outstanding as of October 26, 2026.

“We are pleased to report improved financial performance in the third quarter, driven by solid execution and sustained profitability across our core franchise,” said Heath Fountain, Chief Executive Officer. “The momentum built over recent quarters reflects the resilience of our business model and our focus on disciplined balance sheet management, efficiency, and sound credit quality. As we move through the remainder of the year and complete our partnership with First Reliance, we believe we are well positioned to capitalize on the opportunities that will allow us to deliver consistent results.”

“Loan growth was lower in the third quarter and is reflective of our commitment to pricing discipline in a changing rate environment. Margin continues to improve, which is a result of increasing earning asset yields and consistent pricing on our new and renewed loans. While our long-term target for loan growth remains unchanged, we are likely to see softer growth in the near-term.”

“We previously announced that all necessary regulatory approvals and shareholder approvals have been obtained for our partnership with First Reliance. Both teams have been working to ensure a smooth transition at legal close as well as preparing for our systems conversion and customer integration currently expected in the second quarter of 2027 and we remain on track to successfully achieve our goals.”

“As we look ahead, our outlook remains bright. Uniting our teams and strengths allows us to build on our momentum, sharpen our focus on operational excellence, and deliver even greater long-term value to our shareholders, customers, and communities.”

Balance Sheet

• Total assets were $3.65 billion at September 30, 2026, an increase of $20.3 million from June 30, 2026.
• Total loans, excluding loans held for sale, were $2.48 billion at September 30, 2026, an increase of $12.3 million from June 30, 2026.
• Total deposits were $2.96 billion and $2.97 billion at September 30, 2026 and June 30, 2026, respectively, a decrease of $14.5 million. Decreases were seen in noninterest-bearing demand deposits of $6.8 million and interest-bearing demand deposits of $44.1 million partially offset by increases in savings and money market deposits of $15.1 million and time deposits of $21.4 million, from June 30, 2026 to September 30, 2026.
• Total borrowings at September 30, 2026 were $263.2 million, an increase of $30.0 million compared to June 30, 2026.

Capital

• Colony continues to maintain a strong capital position, with ratios that exceed applicable regulatory minimums required to be considered as “well-capitalized.”
• The Company’s preliminary consolidated tier one leverage ratio, tier one capital ratio, total risk-based capital ratio and common equity tier one capital ratio were 10.57%, 14.41%, 16.78%, and 13.50%, respectively, at September 30, 2026.

Third Quarter and Nine-Months Ended September 30, 2026 Results of Operations

• Net interest income, on a tax-equivalent basis, totaled $30.5 million for the third quarter ended September 30, 2026 compared to $22.9 million for the same period in 2025. Net interest income, on a tax-equivalent basis, totaled $89.9 million for the nine months ended September 30, 2026 compared to $66.6 million for the same period in 2025. For both periods, increases occurred in income on interest earning assets which was partially offset by increases in expense on interest bearing liabilities. Income on interest earning assets increased $9.5 million to $46.6 million for the third quarter of 2026 compared to the same period in 2025. Expense on interest bearing liabilities increased $1.9 million to $16.1 million for the third quarter of 2026 compared to the same period in 2025. Income on interest earning assets increased $27.8 million to $137.6 million for the nine months ended September 30, 2026 compared to the same period in 2025. Expense on interest bearing liabilities increased $4.5 million to $47.7 million for the nine months ended September 30, 2026 compared to the same period in 2025.

• Net interest margin for the third quarter of 2026 was 3.59% compared to 3.17% for the third quarter of 2025. Net interest margin for the nine months ended September 30, 2026 was 3.53% compared to 3.07% for the nine months ended September 30, 2025. The increase for both periods was impacted by the Company’s acquisition of TC Bancshares, Inc. in the fourth quarter of 2025, and was also impacted by increases in interest earning asset yields period over period, as well as the decreased cost of funds.
• Noninterest income totaled $12.3 million for the third quarter of 2026, an increase of $2.2 million, or 21.6%, compared to the same period in 2025. Noninterest income totaled $35.1 million for the nine months ended September 30, 2026, an increase of $5.9 million, or 20.1%, compared to the same period in 2025. For both periods, increases occurred in service charges on deposits, mortgage fee income, interchange fees, BOLI income, which included a tax-free gain of $706 thousand in the second quarter of 2026, along with an increase in wealth advisor income and an insurance gain of $813 thousand in the third quarter of 2026 related to a previous branch building fire, both which are included in other noninterest income, partially offset by decreases in gains on sales of SBA loans.
• Noninterest expense totaled $27.6 million for the third quarter of 2026, compared to $24.6 million for the same period in 2025. Noninterest expense totaled $81.8 million for the nine months ended September 30, 2026, compared to $66.8 million for the same period in 2025. Increases for both periods occurred in salaries and employee benefits, occupancy and equipment, information technology expenses and acquisition and integration-related expenses related to the acquisition of TC Bancshares, Inc. which occurred in the fourth quarter of 2025 as well as expenses related to the upcoming merger with First Reliance Bancshares, Inc.

Asset Quality

• Nonperforming assets totaled $25.0 million and $20.9 million at September 30, 2026 and June 30, 2026, respectively, an increase of $4.1 million.
• Other real estate owned and repossessed assets totaled $3.9 million at September 30, 2026 and $2.0 million at June 30, 2026.
• Net loans charged-off were $1.7 million, or 0.27% of average loans for the third quarter of 2026, compared to $1.8 million, or 0.29% for the second quarter of 2026.
• The allowance for credit losses on loans was $22.5 million, or 0.91% of total loans, at September 30, 2026, compared to $22.0 million, or 0.89% of total loans at June 30, 2026.
• The increase in classified and criticized loans is primarily driven by the downgrade of one construction relationship with circumstances unique to the individual borrower.

Subsequent Event: Strategic Sale-Leaseback and Balance Sheet Repositioning

On October 27, 2026, Colony Bank (the “Bank”), a Georgia state-chartered bank and wholly-owned subsidiary of the Company, entered into a Purchase and Sale Agreement for the sale of three retail banking branch properties for an aggregate gross purchase price of approximately $19.9 million. The Bank entered into a 15-year master lease agreement to lease back each property, with Bank options to extend the term for an additional 15 years. Aggregate first-year base rent under the triple-net lease is approximately $1.65 million, subject to 2.0% annual escalations. The Bank will not close any branches or exit any markets in connection with this transaction. The Company estimates that the sale-leaseback transaction will result in an aggregate pre-tax gain of approximately $15 million, which is expected to be offset by realized losses from a planned repositioning of the Bank’s investment securities portfolio. The Bank intends to use available net proceeds to enhance liquidity, support future loan growth, and improve the Company's overall balance sheet flexibility and interest rate risk profile. The combined transactions are expected to be accretive to tangible book value per share and recurring earnings.

Earnings call information

The Company will host an earnings conference call at 9:00 a.m. ET on Thursday, October 29, 2026, to discuss the recent results and answer relevant questions. The conference call can be accessed by dialing 1-833-461-5787 and using the Conference ID: 588 312 883. A replay of the call will be available until Thursday, November 5, 2026. To listen to the replay, dial 1-833-309-1852 and enter the passcode 588 312 883.

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 across North Florida, including Tallahassee, Jacksonville, and the Florida Panhandle. Colony Bank provides a consultative approach in offering a range of banking solutions for personal and business customers. In addition to traditional banking services, Colony Bank provides specialized solutions including mortgage lending, government-guaranteed lending, consumer insurance, wealth management, credit cards and merchant services. Colony Bankcorp’s common stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “CBAN.” For more information, please visit www.colony.bank. You can also follow the Company on social media.

Forward-Looking Statements

Certain statements contained in this press release that are not statements of historical fact constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, certain statements may be contained in the Company’s future filings with the Securities and Exchange Commission (the “SEC”), in press releases, and in oral and written statements made by or with the approval of the Company that are not statements of historical fact and constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Examples of forward-looking statements include, but are not limited to: (i) projections and/or expectations of revenues, income or loss, earnings or loss per share, the payment or nonpayment of dividends, capital structure and other financial items; (ii) statement of plans and objectives of Colony Bankcorp, Inc. or its management or Board of Directors, including those relating to products or services; (iii) statements of future economic performance; (iv) statements regarding growth strategy, capital management, liquidity and funding, and future profitability; (v) statements relating to the timing, benefits, costs, and synergies of the recently announced acquisition of First Reliance Bancshares, Inc. (“First Reliance”) (the “Merger”); (vi) statements concerning the sale-leaseback transactions and investment securities portfolio repositioning, including their timing, expected proceeds, estimated gains and losses, accounting and tax treatment, intended use of proceeds, continued branch operations, and anticipated effects on earnings, liquidity, capital and tangible book value, and (vii) statements of assumptions underlying such statements. Words such as “may”, “will”, “anticipate”, “assume”, “should”, “support”, “indicate”, “would”, “believe”, “contemplate”, “expect”, “estimate”, “continue”, “further”, “plan”, “point to”, “project”, “could”, “intend”, “target” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.

Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties. Factors that might cause such differences include, but are not limited to: the impact of current and future economic conditions, particularly those affecting the financial services industry, including the effects of declines in the real estate market, tariffs or trade wars (including the resulting reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), high unemployment rates, inflationary pressures, changes in interest rates (including the impact of volatile interest rates on our financial projections and models) and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing; the risk of reductions in benchmark interest rates and the resulting impacts on net interest income; potential impacts of adverse developments in the banking industry highlighted by high-profile bank failures, including impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto; risks arising from negative media coverage and perceived instability in the banking industry and the banking sector; the risks of changes in interest rates and their effects on the level, cost, and composition of, and competition for, deposits, loan demand and timing of payments, the values of loan collateral, securities, and interest sensitive assets and liabilities; the ability to attract new or retain existing deposits, to retain or grow loans or additional interest and fee income, or to control noninterest expense; the effect of pricing pressures on the Company’s net interest margin; the failure of assumptions underlying the establishment of reserves for possible credit losses, fair value for loans and other real estate owned; changes in real estate values; the Company’s ability to implement its various strategic and growth initiatives; increased competition in the financial services industry, particularly from regional and national institutions, as well as fintech companies and other non-bank financial service providers offering digital, automated or alternative financial products and services; economic conditions, either nationally or locally, in areas in which the Company conducts operations being less favorable than expected; changes in the prices, values and sales volumes of residential and commercial real estate; developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance; legislation or regulatory changes which adversely affect the ability of the consolidated Company to conduct business combinations or new operations; adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of the Company’s participation in and execution of government programs, those related to credit card interest rates, and legislative, regulatory or supervisory actions related to so-called “de-banking,” including any new prohibitions, requirements or enforcement priorities that could affect customer relationships, compliance obligations, or operational practices; significant turbulence or a disruption in the capital or financial markets and the effect of a fall in the stock market prices on our investment securities; significant volatility in the markets for equity, fixed income and other asset classes globally or within specific markets; the effects of war or other conflicts, including the ongoing conflicts in the Middle East; major political shifts domestically or internationally (including the potential for retaliatory actions by governments, market participants or clients based on diverging perspectives or otherwise); general risks related to the Company’s merger and acquisition activity, including risks associated with integrating and realizing the expected financial benefits of previous or pending acquisitions, and the Company’s pursuit of future acquisitions; risks associated with the pending Merger, including the risk that the cost savings and any revenue synergies may not be realized or take longer than anticipated to be realized as well as disruption to relationships with customers, suppliers, employees or other business partners relationships; the risk that First Reliance’s business may not be successfully integrated into the Company; the reaction of each of the Company’s and First Reliance’s customers, suppliers, employees or other business partners to the Merger; the risk that the integration of First Reliance’s operations into the operations of the Company will be materially delayed or will be more costly or difficult than expected; the timing and achievement of expected cost reductions following the Merger; the timing and achievement of the recovery of the reduction of tangible book value resulting from the Merger; general competitive, economic, political, and market conditions; the impact of emerging technologies, such as generative artificial intelligence; fraud or misconduct by internal or external actors, and system failures, cybersecurity threats or security breaches and the cost of defending against them; a deterioration of the credit rating for U.S. long-term sovereign debt, actions that the U.S. government may take to avoid exceeding the debt ceiling, and uncertainties surrounding debt ceiling and the federal budget; and general competitive, economic, political and market conditions or other unexpected factors or events. These and other factors, risks and uncertainties could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Many of these factors are beyond the Company’s ability to control or predict.

Forward-looking statements speak only as of the date on which such statements are made. These forward-looking statements are based upon information presently known to the Company’s management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in the Company’s filings with the Securities and Exchange Commission, the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, under the captions “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors,” and in the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements.

Explanation of Certain Unaudited Non-GAAP Financial Measures

The measures entitled operating noninterest income, operating noninterest expense, operating net income, operating earnings per diluted share, operating return on average assets, operating return on average equity, return on average tangible equity, operating return on average tangible equity, tangible book value per common share, tangible equity to tangible assets, operating efficiency ratio, operating net noninterest expense to average assets, pre-provision net revenue, operating pre-provision net revenue, fully tax-equivalent interest income and net interest income, and the related fully tax-equivalent yields, interest rate spread and net interest margin are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. Operating noninterest income and operating noninterest expense are compared with GAAP noninterest income and noninterest expense, respectively. Operating net income and operating earnings per diluted share are compared with GAAP net income and diluted earnings per share, respectively. Operating return on average assets and operating return on average equity are compared with the corresponding returns calculated using GAAP amounts. Return on average tangible equity and operating return on average tangible equity are compared with return on average equity calculated using GAAP amounts. Tangible book value per common share and tangible equity to tangible assets are compared with book value per common share and total equity to total assets, respectively. Operating efficiency ratio and operating net noninterest expense to average assets are compared with the corresponding unadjusted ratios calculated using GAAP amounts. Pre-provision net revenue and operating pre-provision net revenue are compared with GAAP net income, with income taxes and the provision for credit losses separately added back. Fully tax-equivalent measures are compared with the corresponding income measures or ratios calculated without the tax-equivalent adjustment. Operating noninterest income excludes loss on sales of securities, the tax-free gain related to the BOLI claim, and the insurance gain related to the branch building fire. Operating noninterest expense excludes acquisition-related expenses and loss related to wire fraud incident. Operating net income reflects the exclusion of acquisition-related expenses, loss on sales of securities, the tax-free gain related to the BOLI claim, the insurance gain related to the branch building fire and loss related to the wire fraud incident, together with the related tax effects. Operating returns use operating net income and the applicable average asset or equity denominator. Operating efficiency ratio is operating noninterest expense divided by the sum of net interest income and operating noninterest income. Operating net noninterest expense to average assets is calculated using operating noninterest expense less operating noninterest income, divided by average assets and annualized. Acquisition-related expenses include fees associated with acquisitions and vendor contract buyouts. Acquisition-related expenses were incurred in each period presented; their exclusion does not mean that such expenses are nonrecurring. Operating earnings per diluted share includes the adjustments to operating net income. Tangible book value per common share deducts goodwill and other intangible assets from common equity before dividing by period-end common shares. Tangible equity to tangible assets deducts goodwill and other intangible assets from both total equity and total assets. Return on average tangible equity and operating return on average tangible equity deduct average goodwill and other intangible assets from average equity. Pre-provision net revenue is calculated by adding noninterest income to net interest income before provision for credit losses, and subtracting noninterest expense. Operating pre-provision net revenue is calculated by adding operating noninterest income to net interest income before provision for credit losses, and subtracting operating noninterest expense.

Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information. Operating income, expense, earnings and return measures help management and investors assess period-to-period results separately from the specifically identified adjustments. Tangible book value and tangible equity measures show equity after deducting goodwill and other intangible assets. Tangible return measures assess returns relative to the resulting tangible equity base. Pre-provision net revenue shows earnings before income taxes and the provision for credit losses; operating pre-provision net revenue also reflects the specified operating adjustments. Operating efficiency and net noninterest expense ratios show the relationship of adjusted expenses to adjusted revenues or average assets. Fully tax-equivalent measures facilitate comparison of taxable and tax-exempt earning assets. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might calculate these measures differently. Excluded expenses may recur, and pre-provision net revenue and operating pre-provision net revenue do not reflect credit costs or income taxes.

These disclosures should not be considered an alternative to GAAP. The computations of operating noninterest income, operating noninterest expense, operating net income, operating earnings per diluted share, operating return on average assets, operating return on average equity, return on average tangible equity, operating return on average tangible equity, tangible book value per common share, tangible equity to tangible assets, operating efficiency ratio, operating net noninterest expense to average assets, pre-provision net revenue, operating pre-provision net revenue, fully tax-equivalent interest income and net interest income, and the related fully tax-equivalent yields, interest rate spread and net interest margin, and the reconciliation of these measures to their respective comparable GAAP measures or ratios calculated using GAAP amounts, as described above, are set forth in the tables below.

Colony Bankcorp, Inc.
Reconciliation of Non-GAAP Measures

		2026												2025
		Third				Second				First				Fourth				Third
(dollars in thousands, except per share data)		Quarter				Quarter				Quarter				Quarter				Quarter
Operating noninterest income reconciliation
Noninterest income (GAAP)		$	12,266			$	12,158			$	10,692			$	11,047			$	10,091
Tax-free gain related to BOLI claim			—				(706	)			—				—				—
Insurance gain related to branch building fire			(813	)			—				—				—				—
Loss on sales of securities			887				186				—				—				1,039
Operating noninterest income		$	12,340			$	11,638			$	10,692			$	11,047			$	11,130
Operating noninterest expense reconciliation
Noninterest expense (GAAP)		$	27,650			$	26,431			$	27,674			$	25,709			$	24,612
Acquisition-related expenses			(1,210	)			(943	)			(1,637	)			(1,331	)			(732	)
Loss related to wire fraud incident			—				—				—				—				(1,252	)
Operating noninterest expense		$	26,440			$	25,488			$	26,037			$	24,378			$	22,628
Operating net income reconciliation
Net income (GAAP)		$	10,521			$	10,857			$	8,204			$	7,843			$	5,819
Acquisition-related expenses			1,210				943				1,637				1,331				732
Loss related to wire fraud incident			—				—				—				—				1,252
Tax-free gain related to BOLI claim			—				(706	)			—				—				—
Insurance gain related to branch building fire			(813	)			—				—				—				—
Loss on sales of securities			887				186				—				—				1,039
Income tax benefit			(246	)			(244	)			(356	)			(269	)			(612	)
Operating net income		$	11,559			$	11,036			$	9,485			$	8,905			$	8,230
Weighted average diluted shares			21,220,709				21,160,128				21,222,237				18,729,511				17,461,434
Operating earnings per diluted share		$	0.54			$	0.52			$	0.45			$	0.48			$	0.47
Operating return on average assets reconciliation
Return on average assets (GAAP)			1.14		%		1.18		%		0.90		%		0.93		%		0.75		%
Acquisition-related expenses			0.13				0.10				0.18				0.15				0.10
Loss related to wire fraud incident			—				—				—				—				0.16
Tax-free gain related to BOLI claim			—				(0.07	)			—				—				—
Insurance gain related to branch building fire			(0.08	)			—				—				—				—
Loss on sales of securities			0.10				0.02				—				—				0.13
Tax effect of adjustment items			(0.03	)			(0.03	)			(0.04	)			(0.03	)			(0.08	)
Operating return on average assets			1.26		%		1.20		%		1.04		%		1.05		%		1.06		%
Operating return on average equity reconciliation
Return on average equity (GAAP)			10.66		%		11.33		%		8.77		%		9.49		%		7.80		%
Acquisition-related expenses			1.22				0.98				1.74				1.62				0.98
Loss related to wire fraud incident			—				—				—				—				1.68
Tax-free gain related to BOLI claim			—				(0.74	)			—				—				—
Insurance gain related to branch building fire			(0.82	)			—				—				—				—
Loss on sales of securities			0.90				0.19				—				—				1.39
Tax effect of adjustment items			(0.25	)			(0.25	)			(0.38	)			(0.33	)			(0.82	)
Operating return on average equity			11.71		%		11.51		%		10.13		%		10.78		%		11.03		%
Return on average tangible equity reconciliation
Return on average equity (GAAP)			10.66		%		11.33		%		8.77		%		9.49		%		7.80		%
Effect of goodwill and intangibles			2.31				2.53				2.03				2.14				1.76
Return on average tangible equity			12.97		%		13.86		%		10.80		%		11.63		%		9.56		%

Colony Bankcorp, Inc.
Reconciliation of Non-GAAP Measures

		2026												2025
		Third				Second				First				Fourth				Third
(dollars in thousands, except per share data)		Quarter				Quarter				Quarter				Quarter				Quarter
Operating return on average tangible equity reconciliation
Return on average tangible equity			12.97		%		13.86		%		10.80		%		11.63		%		9.56		%
Acquisition-related expenses			1.49				1.20				2.16				1.97				1.20
Loss related to wire fraud incident			—				—				—				—				2.06
Tax-free gain related to BOLI claim			—				(0.90	)			—				—				—
Insurance gain related to branch building fire			(1.00	)			—				—				—				—
Loss on sales of securities			1.09				0.24				—				—				1.71
Tax effect of adjustment items			(0.30	)			(0.31	)			(0.47	)			(0.40	)			(1.01	)
Operating return on average tangible equity			14.25		%		14.09		%		12.49		%		13.20		%		13.52		%
Tangible book value per common share reconciliation
Book value per common share (GAAP)		$	18.46			$	18.43			$	17.98			$	17.69			$	17.31
Effect of goodwill and other intangibles			(3.31	)			(3.31	)			(3.33	)			(3.38	)			(3.11	)
Tangible book value per common share		$	15.16			$	15.12			$	14.65			$	14.31			$	14.20
Tangible equity to tangible assets reconciliation
Equity to assets (GAAP)			10.74		%		10.75		%		10.22		%		10.06		%		9.59		%
Effect of goodwill and other intangibles			(1.75	)			(1.76	)			(1.73	)			(1.76	)			(1.59	)
Tangible equity to tangible assets			8.99		%		8.99		%		8.49		%		8.30		%		8.00		%
Operating efficiency ratio calculation
Efficiency ratio (GAAP)			64.84		%		62.89		%		69.37		%		69.65		%		75.06		%
Acquisition-related expenses			(2.86	)			(2.25	)			(4.10	)			(3.61	)			(1.98	)
Loss related to wire fraud incident			—				—				—				—				(3.38	)
Tax-free gain related to BOLI claim			—				1.06				—				—				—
Insurance gain related to branch building fire			1.25				—				—				—				—
Loss on sales of securities			(1.34	)			(0.29	)			—				—				(2.81	)
Operating efficiency ratio			61.89		%		61.41		%		65.27		%		66.04		%		66.89		%
Operating net noninterest expense(1) to average assets calculation
Net noninterest expense to average assets			1.67		%		1.55		%		1.86		%		1.73		%		1.86		%
Acquisition-related expenses			(0.13	)			(0.10	)			(0.18	)			(0.15	)			(0.09	)
Loss related to wire fraud incident			—				—				—				—				(0.16	)
Tax-free gain related to BOLI claim			—				0.08				—				—				—
Insurance gain related to branch building fire			0.09				—				—				—				—
Loss on sales of securities			(0.10	)			(0.02	)			—				—				(0.13	)
Operating net noninterest expense to average assets			1.53		%		1.51		%		1.68		%		1.58		%		1.48		%
Pre-provision net revenue
Net interest income before provision for credit losses		$	30,377			$	29,869			$	29,203			$	25,865			$	22,699
Noninterest income			12,266				12,158				10,692				11,047				10,091
Total income			42,643				42,027				39,895				36,912				32,790
Noninterest expense			27,650				26,431				27,674				25,709				24,612
Pre-provision net revenue		$	14,993			$	15,596			$	12,221			$	11,203			$	8,178
Operating pre-provision net revenue
Net interest income before provision for credit losses		$	30,377			$	29,869			$	29,203			$	25,865			$	22,699
Operating noninterest income			12,340				11,638				10,692				11,047				11,130
Total operating income			42,717				41,507				39,895				36,912				33,829
Operating noninterest expense			26,440				25,488				26,037				24,378				22,628
Operating pre-provision net revenue		$	16,277			$	16,019			$	13,858			$	12,534			$	11,201

(1)

Net noninterest expense is defined as noninterest expense less noninterest income.

Colony Bankcorp, Inc.
Selected Financial Information

		2026									2025
		Third			Second			First			Fourth			Third
(dollars in thousands, except per share data)		Quarter			Quarter			Quarter			Quarter			Quarter
EARNINGS SUMMARY
Net interest income		$	30,377		$	29,869		$	29,203		$	25,865		$	22,699
Provision for credit losses			1,650			1,900			1,750			1,650			900
Noninterest income			12,266			12,158			10,692			11,047			10,091
Noninterest expense			27,650			26,431			27,674			25,709			24,612
Income taxes			2,822			2,839			2,267			1,710			1,459
Net income		$	10,521		$	10,857		$	8,204		$	7,843		$	5,819
PER COMMON SHARE
Common shares outstanding			21,220,148			21,158,353			21,162,104			21,251,695			17,461,284
Weighted average basic shares			21,220,709			21,160,128			21,222,237			18,729,511			17,461,434
Weighted average diluted shares			21,220,709			21,160,128			21,222,237			18,729,511			17,461,434
Earnings per basic share		$	0.50		$	0.51		$	0.39		$	0.42		$	0.33
Earnings per diluted share			0.50			0.51			0.39			0.42			0.33
Operating earnings per diluted share(b)			0.54			0.52			0.45			0.48			0.47
Cash dividends declared per share			0.1200			0.1200			0.1200			0.1150			0.1150
Common book value per share			18.46			18.43			17.98			17.69			17.31
Tangible book value per common share(b)			15.16			15.12			14.65			14.31			14.20
Pre-provision net revenue(b)			14,993			15,596			12,221			11,203			8,178
SELECTED PERFORMANCE RATIOS:
Return on average assets			1.14	%		1.18	%		0.90	%		0.93	%		0.75	%
Return on average total equity			10.66			11.33			8.77			9.49			7.80
Return on average tangible equity (b)			12.97			13.86			10.80			11.63			9.56
Efficiency ratio			64.84			62.89			69.37			69.65			75.06
Net noninterest expense to average assets			1.67			1.55			1.86			1.73			1.86
Total equity to total assets			10.74			10.75			10.22			10.06			9.59
Tangible equity to tangible assets (b)			8.99			8.99			8.49			8.30			8.00
Net interest margin (a)			3.59			3.52			3.48			3.32			3.17
OPERATING SELECTED PERFORMANCE RATIOS:
Operating return on average assets (b)			1.26	%		1.20	%		1.04	%		1.05	%		1.06	%
Operating return on average total equity (b)			11.71			11.51			10.13			10.78			11.03
Operating return on average tangible equity (b)			14.25			14.09			12.49			13.20			13.52
Operating efficiency ratio (b)			61.89			61.41			65.27			66.04			66.89
Operating net noninterest expense to average assets(b)			1.53			1.51			1.68			1.58			1.48

Colony Bankcorp, Inc.
Selected Financial Information

		2026									2025
		Third			Second			First			Fourth			Third
(dollars in thousands, except per share data)		Quarter			Quarter			Quarter			Quarter			Quarter
ASSET QUALITY
Nonperforming portfolio loans		$	15,446		$	14,289		$	12,619		$	17,190		$	9,082
Nonperforming SBA government loans-guaranteed portion			3,891			3,261			2,012			4,772			4,076
Nonperforming SBA government loans-unguaranteed portion			1,586			1,362			2,968			1,418			1,110
Loans 90 days past due and still accruing			162			71			178			95			98
Total nonperforming loans (NPLs)			21,085			18,983			17,777			23,475			14,366
Other real estate owned			3,647			1,829			1,873			1,048			710
Repossessed assets			271			129			205			190			160
Total nonperforming assets (NPAs)			25,003			20,941			19,855			24,713			15,236
Classified loans			53,890			33,626			39,225			40,481			24,183
Criticized loans			103,924			86,680			86,740			84,721			60,505
Net loan charge-offs (recoveries)			1,706			1,781			1,709			1,600			1,827
Allowance for credit losses to total loans			0.91	%		0.89	%		0.90	%		0.97	%		0.89	%
Allowance for credit losses to total NPLs			106.69			116.07			122.10			98.04			125.89
Allowance for credit losses to total NPAs			89.97			105.22			109.32			93.13			118.71
Net charge-offs (recoveries) to average loans, net			0.27			0.29			0.29			0.30			0.36
NPLs to total loans			0.85			0.77			0.74			0.99			0.71
NPAs to total assets			0.69			0.58			0.53			0.66			0.48
NPAs to total loans and foreclosed assets			1.01			0.85			0.82			1.04			0.75
ACTUAL BALANCES
Total assets		$	3,647,919		$	3,627,583		$	3,720,613		$	3,735,401		$	3,152,746
Loans held for sale			28,143			24,218			16,536			78,990			19,286
Loans, net of unearned income			2,477,091			2,464,834			2,413,465			2,381,224			2,037,056
Deposits			2,957,680			2,972,176			3,048,419			3,067,521			2,584,329
Total stockholders’ equity			391,816			389,966			380,403			375,920			302,332
AVERAGE BALANCES
Total assets		$	3,646,547		$	3,685,038		$	3,698,663		$	3,357,785		$	3,092,411
Loans held for sale			22,119			20,802			21,863			59,868			17,062
Loans, net of unearned income			2,484,665			2,432,676			2,399,971			2,148,729			2,024,153
Deposits			2,985,328			3,031,260			3,025,462			2,752,576			2,526,739
Total stockholders’ equity			391,586			384,514			379,582			327,830			296,027

(a)		Computed using fully taxable-equivalent net interest income.
(b)		Non-GAAP measure - see “Explanation of Certain Unaudited Non-GAAP Financial Measures” for more information and reconciliation to GAAP.

Colony Bankcorp, Inc.
Average Balance Sheet and Net Interest Analysis

		Three Months Ended September 30,
		2026									2025
		Average			Income/			Yields/			Average			Income/			Yields/
(dollars in thousands)		Balances			Expense			Rates			Balances			Expense			Rates
Assets
Interest-earning assets:
Loans held for sale		$	22,119		$	419		7.52	%		$	17,062		$	256		5.96	%
Loans, net of unearned income 1			2,484,665			40,122		6.41				2,024,153			31,364		6.15
Investment securities, taxable			624,328			4,286		2.72				641,774			4,132		2.55
Investment securities, tax-exempt 2			93,444			484		2.05				92,498			489		2.10
Deposits in banks and short term investments			153,081			1,303		3.38				88,703			839		3.75
Total interest-earning assets			3,377,637			46,614		5.48	%			2,864,190			37,080		5.14	%
Noninterest-earning assets			268,910									228,221
Total assets		$	3,646,547								$	3,092,411
Liabilities and stockholders’ equity
Interest-bearing liabilities:
Interest-bearing demand and savings		$	1,666,871			6,259		1.49	%		$	1,479,499			5,999		1.61	%
Other time			848,955			7,157		3.34				620,141			5,333		3.41
Total interest-bearing deposits			2,515,826			13,416		2.12				2,099,640			11,332		2.14
Federal Home Loan Bank advances			170,326			1,769		4.12				185,000			1,909		4.09
Other borrowings			63,190			899		5.64				64,834			952		5.83
Total other interest-bearing liabilities			233,516			2,668		4.53				249,834			2,861		4.54
Total interest-bearing liabilities			2,749,342			16,084		2.32	%			2,349,474			14,193		2.40	%
Noninterest-bearing liabilities:
Demand deposits			469,502									427,100
Other liabilities			36,117									19,810
Stockholders’ equity			391,586									296,027
Total noninterest-bearing liabilities and stockholders’ equity			897,205									742,937
Total liabilities and stockholders’ equity		$	3,646,547								$	3,092,411
Interest rate spread								3.15	%								2.74	%
Net interest income					$	30,530								$	22,887
Net interest margin								3.59	%								3.17	%

1 The average balance of loans includes the average balance of nonaccrual loans. Income on such loans is recognized and recorded on a cash basis. Taxable-equivalent adjustments totaling $52,000 and $102,000 for the three months ended September 30, 2026 and 2025, respectively, are calculated using the statutory federal tax rate and are included in income and fees on loans. Accretion income of $1.1 million and $17,000 for the three months ended September 30, 2026 and 2025, respectively, are also included in income and fees on loans.

2 Taxable-equivalent adjustments totaling $383,000 and $103,000 for the three months ended September 30, 2026 and 2025, respectively, are calculated using the statutory federal tax rate and are included in tax-exempt interest on investment securities.

		Nine Months Ended September 30,
		2026									2025
		Average			Income/			Yields/			Average			Income/			Yields/
(dollars in thousands)		Balances			Expense			Rates			Balances			Expense			Rates
Assets
Interest-earning assets:
Loans held for sale		$	21,596		$	1,240		7.68	%		$	20,914		$	910		5.81	%
Loans, net of unearned income 3			2,439,414			116,491		6.38				1,951,785			89,218		6.11
Investment securities, taxable			646,245			13,275		2.75				683,243			13,726		2.69
Investment securities, tax-exempt 4			93,986			1,460		2.08				93,313			1,475		2.11
Deposits in banks and short term investments			205,148			5,125		3.34				150,328			4,487		3.99
Total interest-earning assets			3,406,389			137,591		5.40	%			2,899,583			109,816		5.06	%
Noninterest-earning assets			270,170									226,827
Total assets		$	3,676,559								$	3,126,410
Liabilities and stockholders’ equity
Interest-bearing liabilities:
Interest-bearing demand and savings		$	1,700,995			18,376		1.44	%		$	1,519,282			18,777		1.65	%
Other time			835,394			21,091		3.38				612,521			15,960		3.48
Total interest-bearing deposits			2,536,389			39,467		2.08				2,131,803			34,737		2.18
Federal Home Loan Bank advances			178,810			5,537		4.14				185,000			5,671		4.10
Other borrowings			63,165			2,679		5.67				63,658			2,808		5.90
Total other interest-bearing liabilities			241,975			8,216		4.54				248,658			8,479		4.56
Total interest-bearing liabilities			2,778,364			47,683		2.29	%			2,380,461			43,216		2.43	%
Noninterest-bearing liabilities:
Demand deposits			477,482									441,259
Other liabilities			35,442									17,325
Stockholders’ equity			385,271									287,365
Total noninterest-bearing liabilities and stockholders’ equity			898,195									745,949
Total liabilities and stockholders’ equity		$	3,676,559								$	3,126,410
Interest rate spread								3.11	%								2.63	%
Net interest income					$	89,908								$	66,600
Net interest margin								3.53	%								3.07	%

3 The average balance of loans includes the average balance of nonaccrual loans. Income on such loans is recognized and recorded on a cash basis. Taxable-equivalent adjustments totaling $576,000 and $170,000 for the nine months ended September 30, 2026 and 2025, respectively, are calculated using the statutory federal tax rate and are included in income and fees on loans. Accretion income of $3.5 million and $36,000 for the nine months ended September 30, 2026 and 2025, respectively, are also included in income and fees on loans.

4 Taxable-equivalent adjustments totaling $1.2 million and $207,000 for the nine months ended September 30, 2026 and 2025, respectively, are calculated using the statutory federal tax rate and are included in tax-exempt interest on investment securities.

Colony Bankcorp, Inc.
Segment Reporting

		2026										2025
		Third				Second			First			Fourth			Third
(dollars in thousands)		Quarter				Quarter			Quarter			Quarter			Quarter
Banking Division
Net interest income		$	29,182			$	28,435		$	28,223		$	24,781		$	21,629
Provision for credit losses			1,003				801			780			776			(371	)
Noninterest income			8,336				8,777			7,131			6,996			6,144
Noninterest expenses			23,602				23,335			24,420			22,502			21,075
Income taxes			2,721				2,703			2,194			1,493			1,413
Net income		$	10,192			$	10,373		$	7,960		$	7,006		$	5,656
Total assets		$	3,535,910			$	3,521,331		$	3,619,249		$	3,625,785		$	3,046,699
Full time employees			438				441			426			447			383
Mortgage Banking Division
Net interest income		$	59			$	78		$	38		$	65		$	62
Provision for credit losses			—				—			—			—			—
Noninterest income			2,063				2,182			1,886			2,012			1,851
Noninterest expenses			2,196				1,828			1,702			1,695			2,066
Income taxes			(16	)			95			52			81			(27	)
Net income (loss)		$	(58	)		$	337		$	170		$	301		$	(126	)
Total assets		$	11,777			$	15,077		$	12,036		$	13,648		$	12,959
Variable noninterest expense(1)		$	1,000			$	659		$	597		$	984		$	1,229
Fixed noninterest expense		$	1,196			$	1,169		$	1,105		$	711		$	837
Full time employees			53				53			48			48			46
Small Business Specialty Lending Division
Net interest income		$	1,136			$	1,356		$	942		$	1,019		$	1,008
Provision for credit losses			647				1,099			970			874			1,271
Noninterest income			1,867				1,199			1,675			2,039			2,096
Noninterest expenses			1,852				1,268			1,552			1,512			1,471
Income taxes			117				41			21			136			73
Net income		$	387			$	147		$	74		$	536		$	289
Total assets		$	100,232			$	91,175		$	89,328		$	95,968		$	93,088
Full time employees			34				34			32			31			31
Total Consolidated
Net interest income		$	30,377			$	29,869		$	29,203		$	25,865		$	22,699
Provision for credit losses			1,650				1,900			1,750			1,650			900
Noninterest income			12,266				12,158			10,692			11,047			10,091
Noninterest expenses			27,650				26,431			27,674			25,709			24,612
Income taxes			2,822				2,839			2,267			1,710			1,459
Net income		$	10,521			$	10,857		$	8,204		$	7,843		$	5,819
Total assets		$	3,647,919			$	3,627,583		$	3,720,613		$	3,735,401		$	3,152,746
Full time employees			525				528			506			526			460

(1

)

Variable noninterest expense includes commission based salary expenses and volume based loan related fees.

Colony Bankcorp, Inc.
Consolidated Balance Sheets

		September 30, 2026			December 31, 2025
(dollars in thousands)		(unaudited)			(audited)
ASSETS
Cash and due from banks		$	27,938		$	27,307
Interest-bearing deposits in banks and federal funds sold			161,370			230,333
Cash and cash equivalents			189,308			257,640
Investment securities available for sale, at fair value			341,342			383,817
Investment securities held to maturity, at amortized cost			361,870			386,618
Other investments			18,878			19,176
Loans held for sale			28,143			78,990
Loans, net of unearned income			2,477,091			2,381,224
Allowance for credit losses			(22,495)			(23,014)
Loans, net			2,454,596			2,358,210
Premises and equipment			38,567			37,045
Other real estate owned			3,647			1,048
Goodwill			63,622			63,873
Other intangible assets			6,586			7,851
Bank owned life insurance			69,181			68,457
Deferred income taxes, net			19,820			19,582
Other assets			52,359			53,094
Total assets		$	3,647,919		$	3,735,401
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits:
Noninterest-bearing		$	457,225		$	526,803
Interest-bearing			2,500,455			2,540,718
Total deposits			2,957,680			3,067,521
Federal Home Loan Bank advances			199,997			194,972
Other borrowed money			63,203			63,132
Accrued expenses and other liabilities			35,222			33,856
Total liabilities			3,256,103			3,359,481
Stockholders’ equity
Common stock, $1 par value; 50,000,000 shares authorized, 21,220,148 and 21,251,695 issued and outstanding, respectively			21,220			21,252
Paid in capital			227,196			228,577
Retained earnings			182,535			160,584
Accumulated other comprehensive loss, net of tax			(39,135)			(34,493)
Total stockholders’ equity			391,816			375,920
Total liabilities and stockholders’ equity		$	3,647,919		$	3,735,401

Colony Bankcorp, Inc.
Consolidated Statements of Income (unaudited)

		Three months ended September 30,								Nine months ended September 30,
		2026				2025				2026				2025
(dollars in thousands, except per share data)
Interest income:
Loans, including fees		$	40,489			$	31,535			$	117,578			$	89,872
Investment securities			4,669				4,518				14,428				14,893
Deposits in banks and short term investments			1,303				839				5,125				4,487
Total interest income			46,461				36,892				137,131				109,252
Interest expense:
Deposits			13,416				11,332				39,467				34,737
Federal Home Loan Bank advances			1,769				1,909				5,537				5,671
Other borrowings			899				952				2,679				2,808
Total interest expense			16,084				14,193				47,683				43,216
Net interest income			30,377				22,699				89,448				66,036
Provision for credit losses			1,650				900				5,300				2,850
Net interest income after provision for credit losses			28,727				21,799				84,148				63,186
Noninterest income:
Service charges on deposits			2,756				2,640				7,878				7,031
Mortgage fee income			2,041				1,851				6,117				5,414
Gain on sales of SBA loans			1,133				1,411				2,601				3,996
Other SBA income			734				686				2,140				1,937
Loss on sales of securities			(887	)			(1,039	)			(1,073	)			(1,039	)
Interchange fees			2,529				2,273				7,115				6,284
BOLI income			488				396				2,182				1,215
Insurance commissions			866				874				2,632				2,109
Other			2,606				999				5,525				2,286
Total noninterest income			12,266				10,091				35,117				29,233
Noninterest expense:
Salaries and employee benefits			15,883				13,532				47,345				38,302
Occupancy and equipment			2,099				1,732				6,166				4,995
Acquisition related			1,210				732				3,790				732
Information technology expenses			2,783				2,680				8,458				7,749
Professional fees			869				998				2,928				2,488
Advertising and public relations			1,026				1,130				3,115				2,877
Communications			232				218				692				611
Other			3,548				3,590				9,262				9,083
Total noninterest expense			27,650				24,612				81,756				66,837
Income before income taxes			13,343				7,278				37,509				25,582
Income taxes			2,822				1,459				7,927				5,172
Net income		$	10,521			$	5,819			$	29,582			$	20,410
Earnings per common share:
Basic		$	0.50			$	0.33			$	1.40			$	1.17
Diluted			0.50				0.33				1.40				1.17
Dividends declared per share			0.1200				0.1150				0.3600				0.3450
Weighted average common shares outstanding:
Basic			21,220,709				17,461,434				21,201,019				17,472,972
Diluted			21,220,709				17,461,434				21,201,019				17,472,972

Colony Bankcorp, Inc.
Quarterly Consolidated Statements of Income

		2026											2025
		Third				Second				First			Fourth			Third
		Quarter				Quarter				Quarter			Quarter			Quarter
(dollars in thousands, except per share data)		(unaudited)				(unaudited)				(unaudited)			(unaudited)			(unaudited)
Interest income:
Loans, including fees		$	40,489			$	39,114			$	37,974		$	34,461		$	31,535
Investment securities			4,669				4,837				4,923			4,543			4,518
Deposits in banks and short term investments			1,303				1,830				1,993			1,696			839
Total interest income			46,461				45,781				44,890			40,700			36,892
Interest expense:
Deposits			13,416				13,237				12,814			11,973			11,332
Federal Home Loan Bank advances			1,769				1,784				1,985			1,947			1,909
Other borrowings			899				891				888			915			952
Total interest expense			16,084				15,912				15,687			14,835			14,193
Net interest income			30,377				29,869				29,203			25,865			22,699
Provision for credit losses			1,650				1,900				1,750			1,650			900
Net interest income after provision for credit losses			28,727				27,969				27,453			24,215			21,799
Noninterest income:
Service charges on deposits			2,756				2,561				2,561			2,664			2,640
Mortgage fee income			2,041				2,141				1,935			2,121			1,851
Gain on sales of SBA loans			1,133				506				962			1,376			1,411
Other SBA income			734				692				714			663			686
Loss on sales of securities			(887	)			(186	)			—			—			(1,039	)
Interchange fees			2,529				2,400				2,186			2,154			2,273
BOLI income			488				1,217				477			577			396
Insurance commissions			866				922				844			755			874
Other			2,606				1,905				1,013			737			999
Total noninterest income			12,266				12,158				10,692			11,047			10,091
Noninterest expense:
Salaries and employee benefits			15,883				15,539				15,923			14,115			13,532
Occupancy and equipment			2,099				2,109				1,957			1,758			1,732
Acquisition related			1,210				943				1,637			1,331			732
Information technology expenses			2,783				2,902				2,774			2,903			2,680
Professional fees			869				939				1,120			1,019			998
Advertising and public relations			1,026				982				1,106			1,402			1,130
Communications			232				235				224			194			218
Other			3,548				2,782				2,933			2,987			3,590
Total noninterest expense			27,650				26,431				27,674			25,709			24,612
Income before income taxes			13,343				13,696				10,471			9,553			7,278
Income taxes			2,822				2,839				2,267			1,710			1,459
Net income		$	10,521			$	10,857			$	8,204		$	7,843		$	5,819
Earnings per common share:
Basic		$	0.50			$	0.51			$	0.39		$	0.42		$	0.33
Diluted			0.50				0.51				0.39			0.42			0.33
Dividends declared per share			0.1200				0.1200				0.1200			0.1150			0.1150
Weighted average common shares outstanding:
Basic			21,220,709				21,160,128				21,222,237			18,729,511			17,461,434
Diluted			21,220,709				21,160,128				21,222,237			18,729,511			17,461,434

Colony Bankcorp, Inc.
Quarterly Deposits Composition Comparison

		2026									2025
		Third			Second			First			Fourth			Third
(dollars in thousands)		Quarter			Quarter			Quarter			Quarter			Quarter
Noninterest-bearing demand		$	457,225		$	464,062		$	495,234		$	526,803		$	442,142
Interest-bearing demand			856,397			900,546			927,768			932,262			811,031
Savings and money markets			794,984			779,890			806,434			787,811			644,312
Time over $250,000			279,925			264,968			237,311			239,175			192,545
Other time			569,149			562,710			581,672			581,470			494,299
Total		$	2,957,680		$	2,972,176		$	3,048,419		$	3,067,521		$	2,584,329

Colony Bankcorp, Inc.
Quarterly Deposits by Location Comparison

		2026									2025
		Third			Second			First			Fourth			Third
(dollars in thousands)		Quarter			Quarter			Quarter			Quarter			Quarter
Augusta		$	35,767		$	29,688		$	22,496		$	18,387		$	—
Florida			184,267			171,594			167,406			157,056			—
Coastal Georgia			139,218			136,189			129,957			141,013			127,587
Middle Georgia			259,583			257,035			266,574			262,075			259,934
Atlanta and North Georgia			303,830			305,149			311,159			335,762			315,822
South Georgia			1,329,474			1,382,532			1,421,164			1,431,775			1,205,891
West Georgia			320,591			311,776			328,077			326,054			341,056
Brokered deposits			132,918			123,512			136,894			131,906			130,000
Reciprocal deposits			252,032			254,701			264,692			263,493			204,039
Total		$	2,957,680		$	2,972,176		$	3,048,419		$	3,067,521		$	2,584,329

Colony Bankcorp, Inc.
Quarterly Loan Comparison

		2026									2025
		Third			Second			First			Fourth			Third
(dollars in thousands)		Quarter			Quarter			Quarter			Quarter			Quarter
Core		$	2,048,239		$	2,011,354		$	1,940,583		$	1,885,200		$	1,935,648
Purchased			428,852			453,480			472,882			496,024			101,408
Loans, net of unearned income		$	2,477,091		$	2,464,834		$	2,413,465		$	2,381,224		$	2,037,056

Colony Bankcorp, Inc.
Quarterly Loans by Composition Comparison

		2026									2025
		Third			Second			First			Fourth			Third
(dollars in thousands)		Quarter			Quarter			Quarter			Quarter			Quarter
Construction, land & land development		$	295,329		$	285,508		$	309,161		$	302,512		$	240,819
Other commercial real estate			1,257,851			1,272,574			1,240,210			1,249,720			1,064,984
Total commercial real estate			1,553,180			1,558,082			1,549,371			1,552,232			1,305,803
Residential real estate			508,483			499,015			483,247			459,549			377,058
Commercial, financial & agricultural			225,751			230,364			220,933			218,532			213,274
Consumer and other			189,677			177,373			159,914			150,911			140,921
Loans, net of unearned income		$	2,477,091		$	2,464,834		$	2,413,465		$	2,381,224		$	2,037,056

Colony Bankcorp, Inc.
Quarterly Loans by Location Comparison

		2026									2025
		Third			Second			First			Fourth			Third
(dollars in thousands)		Quarter			Quarter			Quarter			Quarter			Quarter
Alabama		$	43,886		$	49,410		$	49,546		$	47,971		$	48,351
Florida			239,088			243,326			238,262			236,810			26,061
Augusta			89,489			85,593			84,548			85,072			92,988
Coastal Georgia			353,139			354,035			355,350			358,271			263,763
Middle Georgia			112,767			113,706			115,385			121,276			120,601
Atlanta and North Georgia			425,377			445,409			455,197			456,593			463,007
South Georgia			538,751			523,424			512,651			462,085			403,192
West Georgia			199,663			202,800			186,661			174,626			172,688
Small Business Specialty Lending			82,090			80,864			83,288			84,928			84,999
Consumer Portfolio Mortgages			275,439			258,769			236,984			263,385			270,941
Marine/RV Lending			116,784			106,823			94,775			88,852			88,968
Other			618			675			818			1,355			1,497
Loans, net of unearned income		$	2,477,091		$	2,464,834		$	2,413,465		$	2,381,224		$	2,037,056

Colony Bankcorp, Inc.
Classified Loans

		2026															2025
		Third					Second					First					Fourth					Third
(dollars in thousands)		Quarter					Quarter					Quarter					Quarter					Quarter
		$			#		$			#		$			#		$			#		$			#
Construction, land & land development		$	16,190		11		$	381		12		$	214		8		$	1,438		10		$	1,644		8
Other commercial real estate			27,645		55			19,868		45			23,966		52			22,871		52			12,973		45
Residential real estate			4,017		88			5,870		91			6,160		95			6,115		92			1,503		75
Commercial, financial & agricultural			5,754		80			7,166		90			8,655		107			9,857		109			7,947		90
Consumer and other			284		42			341		40			230		32			200		34			116		27
TOTAL		$	53,890		276		$	33,626		278		$	39,225		294		$	40,481		297		$	24,183		245
Classified loans to total loans			2.18	%				1.36	%				1.63	%				1.70	%				1.19	%

Colony Bankcorp, Inc.
Criticized Loans

		2026															2025
		Third					Second					First					Fourth					Third
(dollars in thousands)		Quarter					Quarter					Quarter					Quarter					Quarter
		$			#		$			#		$			#		$			#		$			#
Construction, land & land development		$	22,393		35		$	6,352		36		$	6,574		34		$	17,605		13		$	14,393		12
Other commercial real estate			64,235		73			58,023		71			54,522		69			40,073		71			24,934		60
Residential real estate			8,479		92			10,525		96			12,522		103			11,515		99			6,528		81
Commercial, financial & agricultural			8,533		109			11,439		97			12,892		114			15,197		120			14,403		99
Consumer and other			284		42			341		40			230		32			331		35			247		28
TOTAL		$	103,924		351		$	86,680		340		$	86,740		352		$	84,721		338		$	60,505		280
Criticized loans to total loans			4.20	%				3.52	%				3.59	%				3.56	%				2.97	%

Colony Bankcorp, Inc.
Quarterly Net Charge Offs to Average Loans by Composition

		2026										2025
		Third			Second				First			Fourth				Third
		Quarter			Quarter				Quarter			Quarter				Quarter
Construction, land & land development			-	%		(0.01	)	%		-	%		-		%		-		%
Other commercial real estate			0.02			0.08				0.08			(0.04	)			0.05
Residential real estate			-			-				0.01			(0.01	)			(0.01	)
Commercial, financial & agricultural			0.18			0.10				0.12			0.22				0.24
Consumer and other			0.07			0.12				0.08			0.13				0.08
Loans, net of unearned income			0.27	%		0.29		%		0.29	%		0.30		%		0.36		%

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20261028888215/en/

For additional information, contact:
Derek Shelnutt
EVP & Chief Financial Officer
229-426-6000, extension 6119

Source: Colony Bankcorp, Inc.

Key Terms

net interest margin financial

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

triple-net lease financial

A triple-net lease is a rental agreement where the tenant pays the base rent plus the property's operating expenses—typically taxes, insurance, and maintenance—so the landlord receives mostly a steady, predictable cash payment. For investors, it matters because it can act like a low-maintenance, bond-like income stream with clearer expense exposure, but returns depend on the tenant’s financial strength and long-term ability to cover those extra costs.

common equity tier one capital ratio regulatory

A common equity tier one (CET1) capital ratio measures a bank’s strongest form of capital — mainly common shares and retained profits — compared with its assets after those assets are adjusted for risk. Think of it as the bank’s core financial cushion relative to the size and riskiness of what it owns; higher ratios mean a bigger buffer to absorb losses, influencing a bank’s safety, regulatory standing, dividend capacity and investor confidence.

non-gaap financial measures financial

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

nonperforming assets financial

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.