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 ...

Company Overview - Colony Bankcorp (CBAN) is headquartered in Fitzgerald and operates in the Finance sector [8] - The stock has experienced a price change of 6.47% since the beginning of the year [8] Dividend Information - The current annualized dividend is $0.45, reflecting a 2.3% increase from the previous year [3] - Over the past five years, Colony Bankcorp has increased its dividend five times, averaging an annual increase of 6.18% [3] - The current payout ratio is 34%, indicating that 34% of its trailing 12-month earnings per share (EPS) is distributed as dividends [3] - The company is currently paying a dividend of $0.11 per share, resulting in a dividend yield of 3.18%, which is higher than the Banks - Southeast industry's yield of 2.45% and the S&P 500's yield of 1.58% [8] Earnings Growth Expectations - For the fiscal year 2024, the Zacks Consensus Estimate for Colony Bankcorp's earnings is projected at $1.32 per share, representing a year-over-year growth rate of 2.33% [6] Investment Appeal - Colony Bankcorp is viewed as an attractive dividend play and a compelling investment opportunity, holding a Zacks Rank of 2 (Buy) [7]

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 ...

Company Overview - Colony Bankcorp (CBAN) is based in Fitzgerald and operates in the Finance sector, with a year-to-date share price change of -10.08% [5] - The company currently pays a dividend of $0.11 per share, resulting in a dividend yield of 3.76%, which is higher than the Banks - Southeast industry's yield of 2.78% and the S&P 500's yield of 1.58% [5] Dividend Performance - The current annualized dividend of Colony Bankcorp is $0.45, reflecting a 2.3% increase from the previous year [2] - Over the past five years, the company has increased its dividend five times, achieving an average annual increase of 7.42% [2] - The current payout ratio is 34%, indicating that the company pays out 34% of its trailing 12-month earnings per share as dividends [2] Earnings Outlook - Colony Bankcorp is expected to see earnings growth this fiscal year, with the Zacks Consensus Estimate for 2024 at $1.31 per share, representing a year-over-year growth rate of 1.55% [8] Investment Considerations - The company is viewed as a compelling investment opportunity due to its strong dividend profile, especially in comparison to high-yielding stocks that may struggle during periods of rising interest rates [9] - Colony Bankcorp holds a Zacks Rank of 3 (Hold), indicating a stable investment position [9]

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus. Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 OR COLONY BANKCORP, INC. (Exact Name of Registrant as Specified in Its Charter) Georgia 58-1492391 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, Par Value $1.00 per share CBAN The NASDAQ Stock Market Large Accelerate Filer ☐ Accelerated Filer ☒ Non-accelerated Filer ☐ Smaller Reporting Company ...

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]