Group 1: Powell Industries, Inc. (POWL) - Powell Industries is a custom-engineered solutions provider with a Zacks Rank 1 [1] - The Zacks Consensus Estimate for Powell's current year earnings increased by 13% over the last 60 days [1] - Powell's shares gained 50.4% over the last three months, outperforming the S&P 500's increase of 6.2% [1] - The company has a Momentum Score of A [1] Group 2: Donegal Group Inc. (DGICA) - Donegal Group is an insurance holding company with a Zacks Rank 1 [2] - The Zacks Consensus Estimate for Donegal's current year earnings increased by 100% over the last 60 days [2] - Donegal Group's shares gained 8.7% over the last three months, compared to the S&P 500's increase of 6.2% [2] - The company possesses a Momentum Score of A [2] Group 3: Colony Bankcorp, Inc. (CBAN) - Colony Bankcorp is a bank holding company for Colony Bank with a Zacks Rank 1 [3] - The Zacks Consensus Estimate for Colony Bankcorp's current year earnings increased by 3.8% over the last 60 days [3] - Colony Bankcorp's shares gained 18.9% over the last three months, outperforming the S&P 500's increase of 6.2% [3] - The company has a Momentum Score of A [3]

Financial Performance - The company achieved net income of $5.6 million, or $0.32 per diluted share, for the three months ended September 30, 2024, compared to $5.8 million, or $0.33 per diluted share, for the same period in 2023[191]. - The increase in net income for the nine months ended September 30, 2024, was primarily due to increased net interest income and noninterest income from various service charges and gains[191]. - Net income for the third quarter of 2024 was $5.6 million, compared to $5.8 million for the same period in 2023[203]. Assets and Liabilities - As of September 30, 2024, the company reported total consolidated assets of $3.1 billion, total loans of $1.9 billion, total deposits of $2.5 billion, and stockholders' equity of $276.1 million[191]. - Total assets as of September 30, 2024, were $3,038,947, slightly down from $3,058,485 in the same period last year[211]. - The Company's total deposits experienced a minimal decline of 0.78% to $2.52 billion at September 30, 2024, compared to December 31, 2023[202]. Income and Expenses - Noninterest income for Q3 2024 was $10.1 million, an increase of $364,000, or 3.75%, from Q3 2023[195]. - For the three months ended September 30, 2024, noninterest expense was $20.8 million, a decrease of $46,000, or 0.22%, from the same period in 2023[196]. - Total noninterest expense for Q3 2024 was $20.8 million, a slight decrease of 0.2% from $20.9 million in Q3 2023, and for the nine months, it decreased by 3.0% to $61.6 million from $63.5 million[228]. Credit Losses and Nonperforming Assets - Provision for credit losses for the three months ended September 30, 2024, was $750,000, compared to $1.0 million for the same period in 2023[193]. - The allowance for credit losses on loans was $19.7 million, or 1.04% of total loans, at September 30, 2024, up from $18.4 million, or 0.98% of total loans, at December 31, 2023[194]. - Nonperforming assets were $12.5 million, or 0.41% of total assets, at September 30, 2024, compared to $10.7 million, or 0.35% of total assets, at December 31, 2023[194]. Interest Income and Margin - Net interest income on a tax equivalent basis decreased to $18.7 million for Q3 2024 from $19.8 million in Q3 2023, a decline of $1.1 million[192]. - The net interest margin for the third quarter of 2024 was 2.64%, down from 2.78% in the same period in 2023[207]. - For the nine months ended September 30, 2024, net interest income was $56,114, with a net interest margin of 2.67%[213]. Deposits and Liquidity - The Company's uninsured deposits represented 31.64% of total Bank deposits at September 30, 2024, compared to 30.22% at December 31, 2023[202]. - The estimated uninsured deposits increased to $809.2 million, or 31.64% of total deposits, compared to $777.8 million, or 30.22%, at December 31, 2023[258]. - Cash and cash equivalents increased to $144.9 million at September 30, 2024, from $83.3 million at December 31, 2023, a growth of 73.8%[265]. Capital Ratios - The Company maintained a CET1 risk-based capital ratio of 12.51% as of September 30, 2024, up from 11.66% at December 31, 2023[272]. - The leverage ratio improved to 9.51% as of September 30, 2024, compared to 9.17% at December 31, 2023[272].

Financial Data and Key Metrics Changes - Operating net income increased by $238,000 in Q3 2024, driven by higher net interest income and non-interest income [4][11] - Interest income rose by over $1.2 million due to loan growth and repricing of earning assets [11] - Net interest income saw its first quarter-over-quarter increase in the past year, despite a slight margin decline of 4 basis points [5][13] Business Line Data and Key Metrics Changes - All complementary lines of business were profitable in Q3, with a combined pretax net income increase of over 20% [4] - Non-interest income increased by approximately $417,000, primarily from mortgage-related fee revenue [13] - Small business specialty lending division net income rose to $1.5 million, an increase of $174,000 from the prior quarter [20] Market Data and Key Metrics Changes - Total deposits grew by approximately $64.7 million, with a mix shift towards money market and retail CDs [15] - Loan growth was around 4% on an annualized basis, totaling over $20 million for the quarter [6][14] - Non-performing loans increased, but the company remains confident in credit quality [7][14] Company Strategy and Development Direction - The company launched a new digital online banking platform to enhance customer experience and support growth [9] - Focus on efficiency and profitability remains a priority, with a target to keep operating net non-interest expense to average assets at 1.32% [8] - The company aims to return to historical growth rates of 8% to 12% over the next few years [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing reduced pressure on funding costs and stable credit quality [10] - The company expects modest margin expansion starting in Q4 2024 and into 2025 [5][13] - Management noted that the impact of Hurricane Helene was minimal on financial performance [3][4] Other Important Information - The company repurchased 35,000 shares at an average price of $15.05 and declared a quarterly cash dividend of $0.1125 per share [18] - The company sold approximately $7.6 million worth of securities at a loss, with plans for similar transactions to restructure the portfolio [17] Q&A Session Summary Question: Profitability outlook and core earnings for 2025 - Management indicated that annualizing current core earnings is reasonable, with expected improvements in non-interest income and margin [24] Question: Asset sales and future transactions - Management expects asset sales to be a one-time event rather than a recurring transaction, with potential for a larger transaction in the future [26] Question: Expected loan payoffs and project financing - Payoffs are expected from projects nearing completion that typically do not involve bank financing [28] Question: New loan origination yields - New loan origination yields for the quarter were reported at approximately 8.23%, down from previous peaks [32] Question: Fee income sustainability - Management expressed confidence in maintaining fee income levels around $10 million, despite challenges in the mortgage market [33]

INVESTOR PRESENTATION THIRD QUARTER 2024 CAUTIONARY STATEMENTS This presentation contains "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 Colony Bankcorp, Inc's (the "Company") future filings with the Securities and Exchange Commission (the "SEC"), in press releases, and in oral and written statem ...

Financial Performance - Colony Bankcorp reported quarterly earnings of $0.35 per share, exceeding the Zacks Consensus Estimate of $0.34 per share, and showing an increase from $0.34 per share a year ago, representing an earnings surprise of 2.94% [1] - The company posted revenues of $28.62 million for the quarter ended September 2024, which was below the Zacks Consensus Estimate by 0.16% and a decrease from $29.34 million year-over-year [1] Market Performance - Colony Bankcorp shares have increased approximately 14.5% since the beginning of the year, while the S&P 500 has gained 22.7% [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.33 on revenues of $28.67 million, and for the current fiscal year, it is $1.33 on revenues of $114.36 million [4] - The estimate revisions trend for Colony Bankcorp is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [4] Industry Context - The Banks - Southeast industry, to which Colony Bankcorp belongs, is currently positioned in the bottom 33% of over 250 Zacks industries, suggesting potential challenges for stock performance [5] - Another company in the same industry, First Guaranty Bancshares, is expected to report a significant decline in earnings, with a consensus EPS estimate of $0.01 per share, reflecting a year-over-year change of -90% [5]

For additional information, contact: Derek Shelnutt EVP & Chief Financial Officer 229-426-6000, extension 6119 COLONY BANKCORP REPORTS THIRD QUARTER 2024 RESULTS DECLARES QUARTERLY CASH DIVIDEND OF $0.1125 PER SHARE FITZGERALD, GA. (October 23, 2024) – Colony Bankcorp, Inc. (Nasdaq: CBAN) ("Colony" or the "Company") today reported financial results for the third quarter of 2024. Financial highlights are shown below. Financial Highlights: • Net income increased to $5.6 million, or $0.32 per diluted share, fo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 000-12436 COLONY BANKCORP, INC. (Exact Name of Registrant as Specified in Its Charter) Georgia 58-1492391 (State or Other ...

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Colony Bankcorp, Inc. (NASDAQ:CBAN) Q2 2024 Earnings Conference Call July 25, 2024 9:00 AM ET Company Participants Derek Shelnutt - Chief Financial Officer Heath Fountain - Chief Executive Officer Conference Call Participants Justin Marca - Hovde Group Operator Good day, everyone, and welcome to the Colony Bank Second Quarter 2024 Conference Call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. [Operator ...

FITZGERALD, GA. (July 24, 2024) – Colony Bankcorp, Inc. (Nasdaq: CBAN) ("Colony" or the "Company") today reported financial results for the second quarter of 2024. Financial highlights are shown below. The Company also announced that on July 24, 2024, the Board of Directors declared a quarterly cash dividend of $0.1125 per share, to be paid on its common stock on August 21, 2024, to shareholders of record as of the close of business on August 7, 2024. The Company had 17,538,611 shares of its common stock ou ...