Colony Bankcorp, Inc. filings document the public-company disclosures of a bank holding company and its wholly owned subsidiary, Colony Bank. Recent 8-K reports cover consolidated operating results, regular cash dividend announcements, investor presentations, and material-event disclosures tied to banking performance and capital actions.
The company’s regulatory record also includes proxy materials on board governance, shareholder voting matters, executive compensation, and equity awards. Other filings describe capital-structure matters such as common-stock repurchase authorization, an equity distribution agreement for at-the-market common stock sales, and employment and compensation arrangements for senior officers.
Colony Bankcorp, Inc. (CBAN) reported two main developments: renewal of its CEO’s employment terms and progress on its pending acquisition of First Reliance Bancshares, Inc. Colony Bank, the wholly owned subsidiary, entered into a new two-year employment agreement with President and CEO R. Dallis Copeland, Jr., effective September 13, 2026, with a $400,000 annual base salary, bonus eligibility based on performance goals, participation in company benefit plans, and 27 days of PTO.
The contract includes change-in-control protections: if terminated without cause or disabled, or he resigns for good reason within 12 months after a change in control, Mr. Copeland is entitled to a lump-sum payment equal to two times his then-current base salary plus his prior-year bonus; in other qualifying terminations outside that window, he would receive one times base salary paid over 12 months, in each case subject to restrictive covenants and a release of claims. Separately, Colony announced that all regulatory approvals have been obtained for its previously announced merger with First Reliance, a stock-and-cash transaction valued at approximately $163 million, with shareholder votes set for October 14, 2026 and closing targeted for November 1, 2026, subject to approvals and other customary conditions. The combined company is expected to have about $5 billion in assets, $4 billion in deposits, and $3.2 billion in loans.
Colony Bankcorp, Inc. (CBAN) plans to issue shares of its common stock to acquire First Reliance Bancshares, Inc. (FSRL) in a cash-and-stock merger. Each FSRL share may receive either $19.75 in cash or 0.94 CBAN shares, subject to proration so that about 20% of FSRL stock receives cash and 80% receives stock, and at least 50% of total consideration is stock.
Approximately 6,185,975 CBAN shares are issuable, with former FSRL holders owning about 22.57% of the combined company based on August 2026 share counts. Special meetings for both companies are set for October 14, 2026, where FSRL must approve the merger by a two‑thirds vote and CBAN must approve the share issuance by a majority of shares represented. The merger is expected to qualify as a tax-free Section 368(a) reorganization for FSRL holders receiving only stock, while cash (including for fractional shares) will generally be taxable.
COLONY BANKCORP INC (CBAN) officer Edward G. Canup, Chief Banking Officer, reported buying additional common stock. On 2026-08-26, he purchased 1,000 shares of COLONY BANKCORP, INC common stock at $21.20 per share in an open-market or private transaction.
Following this purchase, he directly holds 41,701.88 shares, which include shares acquired through reinvested dividends and salary deferral. He also indirectly holds 10,324.54 shares through a 401k, which include shares acquired via 401k company match, reinvested dividends, and salary deferral.
Colony Bankcorp, Inc. (CBAN) filed an amended Form S-4 for its stock-and-cash acquisition of First Reliance Bancshares, Inc. (FSRL). FSRL will merge into Colony, followed by a bank merger of First Reliance Bank into Colony Bank, with Colony and Colony Bank surviving.
Each FSRL share will be converted, at holder election and subject to proration, into either $19.75 in cash or 0.94 CBAN shares, with a target mix of approximately 20% cash and 80% stock and a stock conversion maximum of 80% of FSRL shares. Colony expects to issue approximately 6,185,975 CBAN shares, after which former FSRL shareholders will own about 22.57% of the combined company.
The merger requires approval of FSRL holders owning two-thirds of voting power and a majority vote of CBAN shares represented to approve the stock issuance, plus bank regulatory approvals. The parties expect completion as early as Q4 2026. They expect the transaction to qualify as a Section 368(a) reorganization, and FSRL shareholders have statutory dissenters’ rights, subject to a 7.5% cap on shares exercising those rights.
COLONY BANKCORP INC (CBAN) reports that Chief Banking Officer Edward G Canup purchased a total of 4,000 shares of Colony Bankcorp, Inc common stock in open-market transactions on August 18–20, 2026, at prices between $21.25 and $22.00 per share. Some reported holdings include shares acquired through reinvested dividends and salary deferral. He also reports indirect ownership of 10,324.54 shares held through a 401k account that includes shares acquired through 401k company match, reinvested dividends, and salary deferral.
Colony Bankcorp, Inc. is registering common stock on Form S-4 for the proposed merger with First Reliance Bancshares, Inc. FSRL will merge into Colony, followed by the merger of First Reliance Bank into Colony Bank.
Each FSRL share will be converted into either $19.75 in cash or 0.94 shares of Colony common stock, with election and proration mechanics targeting roughly 20% cash and 80% stock, and an overall cap so no more than 80% of FSRL shares receive stock consideration. Approximately 6,185,975 Colony shares are issuable, subject to anti-dilution and price-protection adjustments.
FSRL options are cashed out based on the $19.75 price, restricted stock and most RSUs vest and receive merger consideration, and certain RSUs roll into Colony awards. The transaction is intended to qualify as a tax-free reorganization under Section 368(a), with cash (including for fractional shares) taxable. Completion requires regulatory approvals, tax opinions, FSRL and Colony shareholder approvals, and that no more than 7.5% of FSRL shares exercise dissenters’ rights.
Colony Bankcorp Inc is reported to have its common stock held by several related Fourthstone entities under a passive ownership structure. Fourthstone LLC, a registered investment adviser, directly holds 166,465 shares of Colony Bankcorp common stock on behalf of its advisory clients, representing 0.79% of the class based on 21,159,669 shares outstanding as of May 6, 2026. Related entities, including Fourthstone Master Opportunity Fund Ltd., Fourthstone QP Opportunity Fund LP, Fourthstone Small-Cap Financials Fund LP, Fourthstone GP LLC, and L. Phillip Stone IV, report shared voting and dispositive power over portions of these shares. The reporting group certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing control of Colony Bankcorp, and confirms that its aggregate ownership is 5 percent or less of the class.
Colony Bankcorp, Inc. reported higher profitability for the quarter ended June 30, 2026. Net income was 10,857 (dollars in thousands), up from 7,978 a year earlier, with diluted EPS of 0.51 versus 0.46. For the first six months, net income reached 19,061 and diluted EPS 0.90, compared with 14,591 and 0.83.
For the six-month period, net interest income rose to 59,072 (dollars in thousands) from 43,337, while the provision for credit losses increased to 3,650 from 1,950 and noninterest expense to 54,106 from 42,225. At June 30, 2026, total assets were 3,627,583 and loans, net were 2,442,800, funded mainly by deposits of 2,972,176. Approximately 83% of the loan portfolio is secured by real estate, and nonaccrual loans declined to 18,912 from 23,380 at December 31, 2025.
Edward G. Canup, Chief Banking Officer of Colony Bankcorp Inc, reported buying a total of 2,000 shares of common stock on July 30, 2026 in two transactions, 1,000 shares at $21.85 and 1,000 shares at $21.75 per share. These are reported as direct holdings. A separate entry shows 10,324.54 shares held indirectly through a 401k plan, with footnotes stating that certain reported holdings include shares from 401k company match, reinvested dividends and salary deferral. The trades were not reported under a Rule 10b5-1 trading plan.