Colony Bankcorp Stock Price, News & Analysis

Colony Bankcorp, Inc. (NASDAQ: CBAN) will announce its first quarter 2023 financial results on April 27, 2023, after the market closes. A live conference call is scheduled for April 28, 2023, at 9:00 am EDT. Participants can join the conference by calling 1-833-470-1428 using access code 759681. The replay will be available until May 5, 2023. Colony Bankcorp, headquartered in Fitzgerald, Georgia, operates 36 locations across Georgia and Alabama, providing a range of banking services and consumer insurance products. More information will be available on their website.

Colony Bankcorp, Inc. (Nasdaq: CBAN) announced a quarterly cash dividend of $0.11 per share and reported a fourth-quarter net income of $5.6 million, up from $5.3 million in Q3 2022. Total loans increased by 9.49% to $1.74 billion, with SBA loans showing growth, totaling $75.1 million for the year. However, net interest margin decreased slightly as higher-cost borrowings funded loan growth. Noninterest income fell by 28.9%, primarily due to reduced mortgage fee income. Despite a slight rise in nonperforming assets to $6.4 million, overall asset quality remains stable. The Company is searching for a new CFO following recent executive changes.

Colony Bankcorp, Inc. (NASDAQ: CBAN) will release its fourth quarter 2022 financial results on January 26, 2023, after market close. A live conference call to discuss these results is scheduled for January 27, 2023, at 9:00 am EST. The call can be accessed by dialing 1-844-200-6205 and entering the access code 430149. A replay will be available until February 3, 2023. Financial results and investor presentations will be accessible on the Company's website.

Colony Bank has announced a donation of $500,000 to 10 rural hospitals in Georgia through the Georgia HEART Hospital Program. This initiative aims to enhance funding for rural hospitals, improving healthcare access for residents. The hospitals benefiting from this donation include Brooks County Hospital, Coffee Regional Medical Center, and others. Heath Fountain, the CEO, emphasized the bank's commitment to supporting local healthcare facilities that significantly impact their communities. The Georgia HEART Hospital Program recognizes the bank's contributions as vital for sustaining rural healthcare.

Colony Bankcorp, Inc. has appointed Edward G. Canup as Chief Revenue Officer and President of Banking Solutions. Canup brings 39 years of banking experience from Capital City Bank, where he significantly expanded business lines, including increasing residential mortgage production from $300 million to $1.5 billion. His role will focus on developing new business strategies and enhancing existing services to boost relationship banking. Colony operates 38 locations in Georgia, offering a range of banking services and products.

Colony Bankcorp, Inc. (NASDAQ: CBAN) announced the appointment of Audrey D. Hollingsworth to its Board of Directors, effective December 1, 2022. Hollingsworth, currently Vice President of People Services at Goodwill Industries of the Southern Rivers, brings extensive experience from her previous role as Group Executive and Chief People Officer at Synovus Financial Corporation. Chairman Mark H. Massee emphasized her diverse perspective will aid in achieving the company's strategic objectives. CEO T. Heath Fountain expressed anticipation for her contributions as they strive to enhance shareholder value.

Colony Bankcorp, Inc. (Nasdaq: CBAN) announced its financial results for Q3 2022, reporting a net income of $5.3 million, or $0.30 per diluted share, stable compared to Q2. Loans increased by 9.21% to $1.59 billion. The company declared a quarterly cash dividend of $0.1075 per share, payable on November 18, 2022. A $12 million stock buyback program was authorized as well. Noninterest income decreased by 13.3% to $8.2 million, while total assets rose to $2.81 billion. The bank remains well-capitalized with strong loan pipelines expected to continue generating significant assets.

Colony Bankcorp, Inc. (NASDAQ: CBAN) will release its third quarter 2022 financial results on October 20, 2022, after market close. A live conference call to discuss the results and company outlook is scheduled for October 21, 2022, at 9:00 am EDT. Investors can access the call by dialing 1-844-200-6205 with access code 915766; a replay will be available until October 28, 2022. Financial results and the investor presentation will be posted on the Colony Bank website.