INVESTOR PRESENTATION CAUTIONARY STATEMENTS NON-GAAP FINANCIAL MEASURES FIRST QUARTER 2024 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, an ...

Financial Data and Key Metrics Changes - In the first quarter, operating net income increased nearly $400,000, driven by improvements in non-interest income, which rose almost $1 million on an operating basis [5][11] - Net income on a GAAP basis decreased around $265,000, but excluding losses on security sales, operating net income increased about $376,000 [11] - Interest income increased from the prior quarter but was slightly outpaced by interest expense, leading to a decline in net interest income of about $220,000 and a slight margin decrease of 1 basis point from 2.70% to 2.69% [11][48] Business Line Data and Key Metrics Changes - The biggest driver of the increase in non-interest income was gains on the sale of SBA loans, with the SBSL group achieving a high mark over the last year [8] - Total loans held for investment decreased by $24.5 million from the prior quarter, primarily due to the sale of $8 million in portfolio mortgages and payoffs of loans that no longer matched credit standards [26] - Non-interest expense totaled $20.4 million, with most of the increase attributed to employee compensation and benefits [24] Market Data and Key Metrics Changes - Deposits declined by $22 million, primarily due to the payoff of $34.5 million in broker deposits, although core customer deposits grew by $12.5 million [27][45] - The fair value of securities was around $8.6 million with a book yield of 2.05%, and the company anticipates further restructuring of its portfolio [28] Company Strategy and Development Direction - The company is focused on building sustainable, high-performing banking operations while managing expenses in line with growth outlooks [4][21] - There is an emphasis on innovation initiatives to enhance customer experience and service standards [21] - The company expects to see modest loan growth for the rest of the year, with a focus on improving credit quality and managing funding costs [9][52] Management's Comments on Operating Environment and Future Outlook - Management noted a slowing rise in the cost of funds during the quarter, but competition for deposits remains strong, which may pressure funding costs [16][17] - The outlook for the second quarter is expected to be stronger than the first quarter, particularly in fee income and mortgage performance [34] - Management expressed confidence in the performance of complementary business lines, such as Marine and RV lending, which are expected to be profitable going forward [18][30] Other Important Information - Non-performing loans decreased quarter-over-quarter, and net charge-offs were slightly down, indicating improved credit quality [10][51] - The company is implementing auto decisioning software to enhance its lending processes and improve response times to dealers [29] Q&A Session Summary Question: How does the strong quarter in the small business segment affect future pipeline? - Management expects the small business segment to remain strong, with fee income anticipated to pick up in the second quarter despite a lighter first quarter [34] Question: Are there any issues in the RV and Marine segment related to inventory? - Management reported no significant issues in the RV and Marine lending segments, with a positive outlook for the Marine side as the season approaches [35] Question: What impact will the securities restructure have on investment yields? - The securities sales are not expected to have a significant impact on margins, but ongoing transactions may help improve overall performance [36] Question: What is the outlook for the office portfolio? - Management indicated no major trends or challenges in the office portfolio, maintaining a stable performance [64] Question: What are the expectations for new hires and talent acquisition? - The company is considering adding commercial bankers later in the year as loan demand increases, but currently has sufficient capacity with existing staff [68]

Financial Performance - Net income for Q1 2024 decreased to $5.3 million, or $0.30 per diluted share, compared to $5.6 million, or $0.32 per diluted share in Q4 2023, but increased from $5.0 million, or $0.29 per diluted share in Q1 2023[31] - Operating net income rose to $5.8 million, or $0.33 of adjusted earnings per diluted share, for Q1 2024, compared to $5.4 million, or $0.31 for Q4 2023, and $5.5 million, or $0.31 for Q1 2023[31] - Net income for Q1 2024 was $5,333, slightly up from $5,043 in Q1 2023, an increase of 5.8%[50] - Net income for Q1 2024 was $0.30 per share, down from $0.32 in Q4 2023, reflecting a 6.25% decline[62] Asset and Loan Management - Total assets as of March 31, 2024, were $3,015,509, a decrease from $3,053,422 as of December 31, 2023, representing a decline of approximately 1.2%[9] - Total loans decreased to $1,859,018 as of March 31, 2024, down from $1,883,470 at the end of 2023, reflecting a decline of about 1.3%[11] - Total loans were $1.86 billion at March 31, 2024, a decrease of $24.5 million, or 1.30%, from the prior quarter[31] - Total segment assets amounted to $2,910,102 thousand, a slight decrease from $2,956,121 thousand in the previous quarter[60] Deposits and Equity - The company experienced a decline in total deposits to $2,522,748 in the first quarter of 2024, down from $2,544,790 in the fourth quarter of 2023, a decrease of about 0.9%[12] - Total stockholders' equity rose to $259,914 as of March 31, 2024, up from $254,935 at the end of 2023, an increase of approximately 2.3%[9] - Total equity increased to $259,914 in Q1 2024, up from $254,935 in Q4 2023[62] Credit Quality and Losses - The allowance for credit losses increased slightly to $18,657 as of March 31, 2024, compared to $18,371 at the end of 2023, indicating a focus on maintaining credit quality[9] - The company reported an improvement in nonperforming loans, maintaining confidence in overall credit quality despite a few charge-offs in recent quarters[17] - The provision for credit losses in Q1 2024 was $1,000, compared to $900 in Q1 2023, indicating an increase of 11.1%[50] - Nonperforming assets decreased to $7.0 million at March 31, 2024, down from $10.7 million at December 31, 2023[36] Income and Expenses - Noninterest income increased by $1.8 million, or 23.87%, to $9.5 million for Q1 2024 compared to the same period in 2023[35] - Net interest income before provision for credit losses was $18,654 for Q4 2024, down from $18,874 in Q3 2024[44] - Noninterest expense for Q4 2024 was $20,397, an increase from $19,587 in Q3 2024[44] Dividends - The company declared a quarterly cash dividend of $0.1125 per share, to be paid on May 22, 2024, to shareholders of record as of May 8, 2024[15] - The company declared dividends of $0.1125 per share in Q1 2024, compared to $0.1100 in Q1 2023[50] - Cash dividends declared per share remained steady at $0.1125 in Q4 2024[45] Interest Rates and Margins - Net interest margin for Q1 2024 was 2.69%, down from 3.08% in Q1 2023, due to rising interest rates on liabilities outpacing those on earning assets[35] - The interest rate spread decreased to 2.21% in Q1 2024 from 2.76% in Q1 2023[50] Employee and Operational Metrics - Full-time employees decreased to 377 from 378 in the previous quarter, indicating a stable workforce[60] - Efficiency ratio for Q4 2024 was 72.48%, compared to 69.51% in Q3 2024[45]

Item 1A. Risks Related to Our Business • demand for our loans, deposits and services may decline; • loan delinquencies, problem assets and foreclosures may increase; • weak economic conditions may continue to limit the demand for loans by creditworthy borrowers, limiting our capacity to leverage our retail deposits and maintain our net interest income; • collateral for our loans may decline further in value; and • the amount of our low-cost or non-interest bearing deposits may decrease. Interest rates are h ...

FITZGERALD, Ga.--(BUSINESS WIRE)--Colony Bankcorp, Inc. (Nasdaq: CBAN) (“Colony” or the “Company”) announced today that Heath Fountain, Chief Executive Officer, and Derek Shelnutt, Chief Financial Officer, will participate in the Janney 2024 CEO Forum to be held on January 31st to February 1st. A copy of the investor presentation can be found prior to the event on the Investor Relations section of the Company’s website, www.colony.bank. About Colony Bankcorp Colony Bankcorp, Inc. is the bank holding comp ...

Colony Bankcorp, Inc. (NASDAQ:CBAN) Q4 2023 Earnings Conference Call January 25, 2024 9:00 AM ET Company Participants Derek Shelnutt - Executive Vice President and Chief Financial Officer Heath Fountain - Chief Executive Officer Conference Call Participants David Bishop - Hovde Group Christopher Marinac - Janney Montgomery Scott Operator Good morning, ladies and gentlemen, and welcome to Colony Bank Fourth Quarter 2023 Conference Call. At this time, all lines are in a listen-only mode. Following the present ...

• our ability to manage our growth; • inability of our risk management framework to effectively mitigate credit risk, interest rate risk, liquidity risk, price risk, compliance risk, operational risk, strategic risk and reputational risk; • the risks relating to past acquisition including, without limitation: unexpected transaction costs, including the costs of integrating operations; the risks that the businesses will not be integrated successfully or that such integration may be more difficult, time-consu ...

Colony Bankcorp, Inc. (NASDAQ:CBAN) Q3 2023 Earnings Conference Call October 26, 2023 9:00 AM ET Company Participants Derek Shelnutt - Chief Financial Officer Heath Fountain - Chief Executive Officer Dallis Copeland - President Conference Call Participants Feddie Strickland - Janney Montgomery Scott David Bishop - Hovde Group, LLC Operator Good morning, ladies and gentlemen, and welcome to Colony Bank Third Quarter 2023 Conference Call. At this time, all lines are in a listen-only mode. Following the presen ...

| --- | --- | |-------|-------| | | | | | | Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties. Factors that might cause such differences include, but are not limited to: the impact of current and economic conditions, particularly those affecting the financial services industry, including the effects of declines in the real estate market, high unemployment rates, inflationary pressures, e ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------|-------|--------|-------|---------|-------|------------------|-------|--------| | (dollars in thousands) \nThree Months Ended June 30, 2022 | | Bank | | Banking | | Lending Division | | Totals | | Net Interest Income | $ | 18,832 | $ | 57 | $ | 291 | $ | 19,180 | | Provision for Credit Losses | | 1,100 | | — | | — | | 1,100 | | Noninterest Income | | 5,174 | | 2,736 | | 2,135 ...