As filed with the Securities and Exchange Commission
on December 19, 2025
File No. 333-________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933
COLONY BANKCORP, INC.
(Exact name of registrant as specified in its charter)
|
Georgia
(State or other jurisdiction of incorporation or organization) |
58-1492391
(I.R.S Employer Identification No.) |
|
115 South Grant Street
Fitzgerald, Georgia
(Address of Principal Executive Offices)
|
31750
(Zip Code) |
Colony Bankcorp, Inc. Stock Purchase Plan
(Full title of the plan)
Derek Shelnutt
Executive Vice President and Chief Financial
Officer
Colony Bankcorp, Inc.
115 South Grant Street
Fitzgerald, Georgia 31750
Tel: (229) 426-6000
(Name, address, and telephone number, including
area code, of agent for service)
With a copy of all communications to:
Mark C. Kanaly
Kerry T. Wenzel
Alston & Bird LLP
One Atlantic Center
1201 W Peachtree St NE #4900
Atlanta, GA 30309
Tel: (404) 881-7000
Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions
of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging
growth company” in Rule 12b-2 of the Exchange Act.
| Large
accelerated filer ¨ |
Accelerated
filer x |
| Non-accelerated
filer ¨ |
Smaller reporting company x
Emerging
growth company ¨ |
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any
new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. o
EXPLANATORY NOTE
Colony Bankcorp, Inc.
(the “Company” or the “Registrant”) has filed this Registration Statement on Form S-8 (this “Registration
Statement”) with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended
(the “Securities Act”), to register (i) 300,000 shares of the Company’s common stock, par value $1.00 per share
(“Common Stock”), that may be issued under the Colony Bankcorp, Inc. Stock Purchase Plan (the “Plan”); and
(ii) such additional shares that may become issuable in accordance with the adjustment and anti-dilution provisions of the Plan.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Items 1 and 2. Plan Information; Registrant
Information and Employee Plan Annual Information.
(a) The
documents containing the information specified in Part I of Form S-8 will be delivered to participants in the Plan as specified
by Rule 428(b)(1) under the Securities Act of 1933, as amended (the “Securities Act”). In accordance with the instructions
of Part I of Form S-8, such documents are not being filed with the Securities and Exchange Commission (the “SEC”)
either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities
Act. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II
of Form S-8, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
(b) Upon
written or oral request, we will provide, without charge, the documents incorporated by reference in Item 3 of Part II of this Registration
Statement. The documents are incorporated by reference in the Section 10(a) prospectus. We will also provide, without charge,
upon written or oral request, other documents required to be delivered to participants pursuant to Rule 428(b). Requests for the
above-mentioned information should be directed to the Executive Vice President and Chief Financial Officer at the address and telephone
number on the cover of this Registration Statement.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The SEC allows us to “incorporate
by reference” into this Registration Statement information we file with the SEC in other documents. This means that we can disclose
important information to you by referring to another document we have filed with the SEC. The information relating to us contained in
this Registration Statement should be read together with the information in the documents incorporated by reference.
We
incorporate by reference, as of their respective dates of filing, the documents listed below (excluding any portions of such documents
that have been “furnished” but not “filed” for purposes of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”)):
| · | our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on March 14, 2025; |
| · | our Quarterly Reports on Form 10-Q for the
quarters ended March 31, 2025, filed with the SEC on May 9, 2025, June 30, 2025, filed with the SEC on August 8, 2025,
September 30, 2025, filed with the SEC on November 7, 2025; |
| · | our Current Reports on Form 8-K filed with
the SEC on January 22, 2025, February 27, 2025, March 19, 2025, May 23, 2025, July 23, 2025, November 7, 2025, November 17, 2025 and December 1, 2025 (except for information furnished to the SEC that is not deemed to be “filed”
for purposes of the Exchange Act); |
| · | the description of our common stock in Exhibit 4.1
of our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 14, 2025, including
any amendment or report filed with the SEC for the purpose of updating this description; and |
| · | all documents filed by us with the SEC pursuant
to Sections 13(a) or 15(d) of the Exchange Act prior to the filing of a post-effective amendment to this Registration Statement
that indicates that all securities offered have been sold or that deregisters all securities that remain unsold. |
Any statement contained in
a document incorporated or deemed incorporated herein by reference shall be deemed to be modified or superseded for the purpose of this
Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is, or is deemed
to be, incorporated herein by reference modifies or supersedes such statement. Any such information so modified or superseded shall not
be deemed, except as so modified or superseded, to constitute part of this Registration Statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Subsection (a) of Section 14-2-851
of the Georgia Business Corporation Code (the “GBCC”) provides that a corporation may indemnify or obligate itself to indemnify
an individual made a party to a proceeding because he or she is or was a director against liability incurred in the proceeding if such
individual conducted himself or herself in good faith and such individual reasonably believed, in the case of conduct in an official capacity,
that such conduct was in the best interests of the corporation and, in all other cases, that such conduct was at least not opposed to
the best interests of the corporation and, in the case of any criminal proceeding, such individual had no reasonable cause to believe
such conduct was unlawful. Subsection (d) of Section 14-2-851 of the GBCC provides that a corporation may not indemnify a director
in connection with a proceeding by or in the right of the corporation except for reasonable expenses incurred if it is determined that
the director has met the relevant standard of conduct, or in connection with any proceeding with respect to conduct under Section 14-2-851
of the GBCC for which he was adjudged liable on the basis that personal benefit was improperly received by him or her, whether or not
involving action in his or her official capacity.
In addition, Section 14-2-856
of the GBCC permits our articles of incorporation, bylaws, a contract, or resolution approved by the shareholders, to authorize us to
indemnify a director against claims to which the director was a party, including claims by us or in our right (e.g., shareholder derivative
action). However, we may not indemnify the director for liability to us for any appropriation of a corporate opportunity, intentional
misconduct or knowing violation of the law, unlawful distributions or receipt of an improper benefit.
Pursuant to Section 14-2-854
of the GBCC, a court may order a corporation to indemnify a director or advance expenses if such court determines that the director is
entitled to indemnification under the GBCC or that the director is fairly and reasonably entitled to indemnification or advance of expenses
in view of all the relevant circumstances, whether or not such director met the standard of conduct set forth in subsections (a) and
(b) of Section 14-2-851 of the GBCC, failed to comply with Section 14-2-853 of the GBCC or was adjudged liable as described
in paragraph (1) or (2) of subsection (d) of Section 14-2-851 of the GBCC.
Section 14-2-852 of the
GBCC provides that to the extent that a director has been wholly successful, on the merits or otherwise, in the defense of any proceeding
to which he was a party, because he or she is or was a director of the corporation, the corporation shall indemnify the director against
reasonable expenses incurred by the director in connection with the proceeding.
Section 14-2-857 of the
GBCC provides that a corporation may indemnify and advance expenses to an officer of the corporation who is a party to a proceeding because
he or she is an officer of the corporation to the same extent as a director and if he or she is not a director to such further extent
as may be provided in its articles of incorporation, bylaws, resolution of its board of directors or contract except for liability arising
out of conduct specified in Section 14-2-857(a)(2) of the GBCC. Section 14-2-857 of the GBCC also provides that an officer
of the corporation who is not a director is entitled to mandatory indemnification under Section 14-2-852 and is entitled to apply
for court ordered indemnification or advances for expenses under Section 14-2-854, in each case to the same extent as a director.
In addition, Section 14-2-857 provides that a corporation may also indemnify and advance expenses to an employee or agent who is
not a director to the extent, consistent with public policy, that may be provided by its articles of incorporation, bylaws, action of
its board of directors or contract.
Section 14-2-858 of the
GBCC permits us to purchase and maintain insurance on behalf of our directors and officers against liability incurred by them in their
capacities or arising out of their status as our directors and officers, regardless of whether we would have the power to indemnify or
advance expenses to the director or officer for the same liability under the GBCC.
The Company’s bylaws
provide that any person, his heirs, executors, or administrators, may be indemnified or reimbursed by the Company for reasonable expense
actually incurred in connection with any action, suit or proceeding, civil or criminal, to which he or she shall be made a party by reason
of the fact that he or she is or was a director, trustee, officer, employee, or agent of the Company, or that he or she is or was serving,
at the request of the Company, trust or other organization or enterprise; provided; however, that no person shall be so indemnified or
reimbursed in relation to any matter in such action, suit or proceeding as to which he or she shall finally be adjudged to have been guilty
of or liable for gross negligence, willful misconduct or criminal acts in the performance of his duties to the Company, or to such other
firm, corporation, trust, organization, or enterprise; and provided further, that no person shall be so indemnified or reimbursed in relation
to any matter in such action, suit, or proceeding which has been in the subject of a compromise settlement, except with the approval of
(i) a court of competent jurisdiction, (ii) the holders of record of a majority of the outstanding shares of capital stock of
the Company, or (iii) a majority of the members of the Company’s board of directors then holding office, excluding the votes
of any directors who are parties to the same or substantially the same action, suit or proceeding.
The Company’s bylaws
also provide that expenses incurred in defending any action, suit or proceeding referred to above may be paid by the Company in advance
of the final disposition of such action, suit or proceeding as authorized by the Company’s board of directors in the specific case
upon receipt of an undertaking by or on behalf of the director, trustee, officer, employee or agent to repay such amount unless it shall
ultimately be determined that he or she is entitled to be indemnified by the corporation as provided above.
The Company’s bylaws
further provide that the Company may purchase and maintain on behalf of a director, officer, employee or agent of the Company insurance
against liability asserted against or incurred by that person serving in such capacity for the Company or arising from his status with
the Company whether or not the Company would have the power to indemnify that person under the Company’s bylaws.
Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers, and controlling persons
of the Company pursuant to the Company’s articles of incorporation or bylaws, or otherwise, the Company has been advised that, in
the opinion of the SEC, such indemnification is against public policy as expressed in the Act and is therefore unenforceable.
Item 7. Exemption From Registration Claimed.
Not applicable.
Item 8. Exhibits.
| Exhibit Number |
Description |
| 4.1 |
Articles of Incorporation of Colony Bankcorp, Inc., as amended, which is incorporated herein by reference to Exhibit 99.1 to the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2014, filed on August 4, 2014. |
| |
|
| 4.2 |
Articles of Amendment to Articles of Incorporation, as amended, of Colony Bankcorp, Inc., which is incorporated herein by reference to Exhibit 3.2 to the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2022, filed on August 12, 2022. |
| |
|
| 4.3 |
Amended and Restated Bylaws of Colony Bankcorp, Inc., which is incorporated herein by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K, filed on September 18, 2020. |
| |
|
| 5.1* |
Opinion of Alston & Bird LLP. |
| |
|
| 23.1* |
Consent of Mauldin & Jenkins, LLC. |
| |
|
| 23.2* |
Consent of Alston & Bird LLP (included in Exhibit 5.1). |
| |
|
| 24.1* |
Power of Attorney (included on signature page). |
| |
|
| 99.1 |
Colony Bankcorp, Inc. Stock Purchase Plan, which incorporated by reference to Exhibit A of the Company’s Proxy Statement on Schedule 14A, filed with the Commission on April 17, 2025. |
| |
|
| 107* |
Calculation of Filing Fee Table. |
* Filed herewith.
Item 9. Undertakings.
| (a) | The undersigned Registrant hereby undertakes: |
| (1) | To file, during any period in which offers or sales are being made, a post-effective amendment to this
Registration Statement: |
| (i) | To include any prospectus required by Section 10(a)(3) of the Securities Act; |
| (ii) | To reflect in the prospectus any facts or events arising after the effective date of this Registration
Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change
in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of
securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from
the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to
Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate
offering price set forth in the “Calculation of Registration Fee” in the effective Registration Statement; and |
| (ii) | To include any material information with respect to the plan of distribution not previously disclosed
in the Registration Statement or any material change to such information in the Registration Statement; |
provided, however, that paragraphs
(a)(1)(i) and (a)(1)(ii) do not apply if this Registration Statement is on Form S-8, and information required to be included
in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant
to Section 13 or 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement;
| (2) | That, for the purpose of determining any liability under the Securities Act, each such post-effective
amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof; and |
| (3) | To remove from registration by means of a post-effective amendment any of the securities being registered
which remain unsold at the termination of the offering. |
| (b) | The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the
Securities Act, each filing of the Registrant’s annual report pursuant to Section 13(a) or 15(d) of the Exchange
Act that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof. |
| (c) | Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised
that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted
by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the
opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question
whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication
of such issue. |
SIGNATURES
Pursuant to the requirements
of the Securities Act, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing
on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Fitzgerald, State of Georgia, on December 19, 2025.
| |
COLONY BANKCORP, INC. |
| |
|
| |
By: |
/s/ Derek Shelnutt |
| |
|
Name: |
Derek Shelnutt |
| |
|
Title: |
Executive Vice President and Chief Financial Officer |
POWER OF ATTORNEY
KNOW ALL BY THESE PRESENTS,
that the individuals whose signatures appear below constitute and appoint T. Heath Fountain and Derek Shelnutt, and each of them, his
or her true and lawful attorney-in-fact and agent with full and several power of substitution, for him or her and in his or her name,
place and stead, in any and all capacities, to sign any and all amendments (including pre-effective and post-effective amendments) to
this Registration Statement, and to file the same, with all exhibits thereto, and all documents in connection therewith, with the Securities
and Exchange Commission, granting unto said attorney-in-fact and agent full power and several power of authority to do and perform each
and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she
might or could do in person, hereby ratifying and confirming that said attorney-in-fact and agent or their substitutes, may lawfully do
or cause to be done by virtue hereof.
Pursuant to the requirements
of the Securities Act, this registration statement and Power of Attorney have been signed by the following persons in the capacities indicated
on December 19, 2025.
| Signature |
|
Title |
| |
|
| /s/ T. Heath Fountain |
|
Chief Executive Officer and Director
(Principal Executive Officer) |
| T. Heath Fountain |
|
|
| |
|
| /s/ Derek Shelnutt |
|
Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer) |
| Derek Shelnutt |
|
|
| |
|
|
| /s/ Mark H. Massee |
|
Chairman of the Board of Directors |
| Mark H. Massee |
|
|
| |
|
| /s/ Audrey D. Hollingsworth |
|
Director |
| Audrey D. Hollingsworth |
|
|
| |
|
| /s/ Paul Joiner, III |
|
Director |
| Paul Joiner, III |
|
|
| |
|
| /s/ Scott L. Downing |
|
Director |
| Scott L. Downing |
|
|
| |
|
| |
|
Director |
| Meagan M. Mowry |
|
|
| |
|
| /s/ Matthew D. Reed |
|
Director |
| Matthew D. Reed |
|
|
| |
|
| /s/ Brian D. Schmitt |
|
Director |
| Brian D. Schmitt |
|
|
