Welcome to our dedicated page for Colony Bankcorp news (Ticker: CBAN), a resource for investors and traders seeking the latest updates and insights on Colony Bankcorp stock.
Colony Bankcorp, Inc. reports news on its role as the bank holding company for Colony Bank, a Georgia-based community bank with operations in Georgia, Birmingham, Alabama, and North Florida. Coverage centers on quarterly financial results, net interest margin, capital levels, cash dividends, credit ratings, and the integration of completed acquisitions.
Recurring updates also cover Colony Bank’s personal and business banking services, mortgage lending, government-guaranteed and SBA lending, consumer insurance, wealth management, credit cards, and merchant services. Management and business-development announcements reflect the company’s broader financial-services model alongside its core banking operations.
Colony Bankcorp, Inc. (Nasdaq: CBAN) reported Q3 2020 financial results showing net income of $3.1 million, or $0.33 per diluted share. Adjusted earnings per diluted share reached $0.39. Total assets grew to $1.8 billion, with loans totaling $1.2 billion. A $1.1 million provision for loan losses was noted, while noninterest income surged by 88%. The company declared a $0.10 quarterly dividend, payable November 13, 2020. Despite an increase in nonperforming assets, Colony maintains a strong capital position, with robust loan growth fueled by PPP loans amidst the ongoing pandemic.
Colony Bankcorp, Inc. (Nasdaq: CBAN) has appointed Leonard H. Bateman, Jr. as Executive Vice President and Chief Credit Officer, effective June 1, 2020. He succeeds J. Stan Cook, who will transition to a reduced role due to medical reasons while continuing to oversee the bank's commercial real estate credit portfolio. Bateman brings nearly 25 years of banking experience, having previously served as President and CEO of Calumet Bank. CEO Heath Fountain expressed confidence in Bateman's leadership and credit background, emphasizing his fit within the executive team.