IJKLMINOPQRSLIOT - !"# $#%&'(!#)*%#(+,-(#".$#%"(/*%#(+ 01 2 34/#564 $ 7/"8,9+ :+5#8" 1; ; <+#"4=(># &'(!#)?($#+>" 2@ ; &8A+6B <.A// &?:,$#%35C*%#(+"8D +/$ !"5/ 0@ 0@ B "+86B"E6<>" &?:,$#%$+8#*%#(+ 0F 2 G#>H+/E4 (C+E&?:,$#% =%;F2 OBJECTIVES AND FOCUS · Focus on growing core deposits and customer relationships · Manage expenses in an uncertain economy &HI&J( %,KL( M=NOP=QB0= RSA CR1 ?@ABCDE@F GHIJK 9L ; 4L9;9 8L9;9 3L9;4 9L9;4 M !" + N! ● Full implementation of Salesforce to influence a more complete customer ...

Colony Bankcorp, Inc. (NASDAQ:CBAN) Q2 2023 Earnings Conference Call July 27, 2023 9:00 AM ET Company Participants Derek Shelnutt - Executive Vice President and Chief Financial Officer Heath Fountain - Chief Executive Officer Dallis “D” Copeland - President Conference Call Participants David Bishop - Hovde Group Christopher Marinac - Janney Montgomery Scott Operator Good morning, ladies and gentlemen and welcome to the Colony Bank Second Quarter 2023 Conference Call. At this time, all lines are in a listen- ...

Allowance for Credit Losses – Available-for-Sale Securities ("AFS") For AFS debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or whether it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value through income. For AFS debt securities that do not meet the afo ...

Colony Bankcorp, Inc. (NASDAQ:CBAN) Q1 2023 Conference Call April 28, 2023 9:00 AM ET Company Participants Derek Shelnutt - Chief Accounting Officer T. Heath Fountain - Chief Executive Officer R. Dallis “D” Copeland, Jr. - President Conference Call Participants David Bishop - Hovde Group Feddie Strickland - Janney Montgomery Scott Operator Hello, and a warm welcome to Colony Bank First Quarter 2023 Conference Call. My name is Candice, and I'll be your coordinator for today's call. [Operator Instructions]. I ...

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _____________to ______________ Securities Registered Pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the ...

Colony Bankcorp, Inc. (NASDAQ:CBAN) Q4 2022 Earnings Conference Call January 27, 2023 9:00 AM ET Company Participants Derek Shelnutt - Acting Chief Financial Officer Heath Fountain - Chief Executive Officer Conference Call Participants David Bishop - Hovde Group Feddie Strickland - Janney Operator Hello, and welcome to today's Colony Bank Fourth Quarter 2022 Conference Call. My name is Harry, and I'll be coordinating your call today. [Operator Instructions] And I'll now hand over to Derek Shelnutt to begin. ...

• Strive to be trusted advisors and give consultative advice • Nimble and responsive to customer needs EXECUTIVE LEADERSHIP TEAM 6 7 ◦ Ed Canup, Chief Revenue Officer (November 2022) ◦ Market executives ▪ Birmingham (June 2022) ▪ Augusta (February 2022) ▪ Marine / RV lending (May 2022) FRANCHISE ENHANCEMENT TRACK RECORD 5-Year CAGR: 18.6% 2018 – 2022 Total Assets (Dollars in millions) Strong Organic 2,691,715 growth ($245.3M increase in assets during 2022) $2,691.7 $2,936.6 $1,232,755 $1,251,878 Acquired LB ...

[PART I – Financial Information](index=4&type=section&id=PART%20I%20%E2%80%93%20Financial%20Information) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's financial statements for the period ended September 30, 2022, show an increase in total assets to **$2.8 billion**, driven by significant loan growth. Net income for the third quarter was **$5.3 million**, a slight decrease from the prior year, primarily due to a higher provision for loan losses. Stockholders' equity was significantly impacted by a **$60.9 million** net unrealized loss on available-for-sale securities, leading to a comprehensive loss of **$46.9 million** for the nine-month period [Consolidated Balance Sheet](index=4&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2022, total assets grew to **$2.81 billion** from **$2.69 billion** at year-end 2021, primarily driven by an 18.6% increase in net loans. Total stockholders' equity increased slightly to **$226.1 million**, though it was negatively impacted by a significant increase in accumulated other comprehensive loss to **$67.1 million**, largely due to unrealized losses on investment securities Consolidated Balance Sheet (dollars in thousands) | (dollars in thousands) | September 30, 2022 (Unaudited) | December 31, 2021 (Audited) | | :--- | :--- | :--- | | **Total Assets** | **$2,805,912** | **$2,691,715** | | Loans, net | $1,571,431 | $1,325,067 | | Total Deposits | $2,409,662 | $2,374,608 | | **Total Liabilities** | **$2,579,845** | **$2,474,008** | | Accumulated other comprehensive loss | ($67,100) | ($6,177) | | **Total Stockholders' Equity** | **$226,067** | **$217,707** | [Consolidated Statements of Income](index=5&type=section&id=Consolidated%20Statements%20of%20Income) For the third quarter of 2022, net income was **$5.3 million** (**$0.30** per diluted share), a decrease from **$5.6 million** (**$0.45** per diluted share) in Q3 2021. For the nine-month period, net income was **$14.0 million**, down from **$14.5 million** year-over-year, primarily due to a significantly higher provision for loan losses, which increased from **$150,000** to **$1.3 million** for the quarter and from **$650,000** to **$2.5 million** for the nine-month period Consolidated Statements of Income (dollars in thousands, except EPS) | (dollars in thousands, except EPS) | Three Months Ended Sep 30, 2022 | Three Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $20,865 | $17,868 | $59,225 | $47,167 | | Provision for Loan Losses | $1,320 | $150 | $2,470 | $650 | | Noninterest Income | $8,179 | $9,438 | $27,384 | $25,475 | | Noninterest Expense | $21,367 | $21,211 | $67,648 | $54,113 | | **Net Income** | **$5,252** | **$5,583** | **$13,991** | **$14,500** | | **Diluted EPS** | **$0.30** | **$0.45** | **$0.82** | **$1.39** | [Consolidated Statements of Comprehensive (Loss) Income](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20%28Loss%29%20Income) The company experienced a significant shift from comprehensive income to a comprehensive loss, primarily due to unrealized losses on securities. For the nine months ended September 30, 2022, the company reported a comprehensive loss of **$46.9 million**, compared to a comprehensive income of **$4.3 million** in the same period of 2021, driven by a **$60.9 million** negative change in unrealized losses on securities, net of tax Consolidated Statements of Comprehensive (Loss) Income (dollars in thousands) | (dollars in thousands) | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | Net Income | $13,991 | $14,500 | | Change in unrealized (losses) gains on securities, net of tax | ($60,923) | ($10,192) | | **Comprehensive (Loss) Income** | **($46,932)** | **$4,308** | [Consolidated Statements of Changes in Stockholder's Equity](index=7&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholder%27s%20Equity) For the nine months ended September 30, 2022, stockholders' equity increased from **$217.7 million** to **$226.1 million**, with key activities including **$14.0 million** net income and **$59.5 million** from common stock issuance, offset by **$5.3 million** in dividends and a **$60.9 million** increase in net unrealized losses on securities - Accumulated Other Comprehensive Loss increased dramatically from **($6.2 million)** at the beginning of the year to **($67.1 million)** at September 30, 2022, primarily due to unrealized losses on available-for-sale securities[20](index=20&type=chunk) - The company issued **3.8 million** shares of common stock, raising **$59.5 million** in capital during the first nine months of 2022[20](index=20&type=chunk) [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2022, cash and cash equivalents decreased by **$112.2 million**, with **$35.5 million** from operating activities, **$305.7 million** used in investing activities, and **$158.1 million** provided by financing activities, driven by common stock issuance (**$59.5 million**) and new subordinated debt (**$39.1 million**) Consolidated Statements of Cash Flows (dollars in thousands) | (dollars in thousands) | Nine Months Ended Sep 30, 2022 | | :--- | :--- | | Net cash provided by operating activities | $35,464 | | Net cash used in investing activities | ($305,719) | | Net cash provided by financing activities | $158,063 | | **Net decrease in cash and cash equivalents** | **($112,192)** | [Notes to Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail significant accounting policies and provide further information on the company's financial position, including a **$511.0 million** transfer of securities to held-to-maturity, significant real estate loan growth, increased allowance for loan losses, new debt issuance, and confirmation of well-capitalized status - The company transferred securities with a book value of approximately **$511.0 million** from the available-for-sale to the held-to-maturity portfolio during 2022 to mitigate the impact of rising interest rates on regulatory capital[47](index=47&type=chunk) - The loan portfolio has a concentration in real estate, with approximately **86%** of loans secured by real estate as of September 30, 2022[38](index=38&type=chunk) - The company adopted ASU 2016-13 (CECL) effective for fiscal years beginning after December 15, 2022, and expects a **15-25%** increase in the allowance for credit losses upon implementation[41](index=41&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=39&type=section&id=Item%202.%2E%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the slight decrease in year-over-year net income to a higher provision for loan losses and increased noninterest expenses, while net interest income grew due to higher asset volumes despite net interest margin compression from rising funding costs, and capital was successfully raised to support growth [Results of Operations](index=44&type=section&id=Results%20of%20Operations) For the first nine months of 2022, net income was **$14.0 million**, down from **$14.5 million** in 2021, despite a **$12.1 million** increase in net interest income, as net interest margin declined **30 basis points** to **3.19%**, and the provision for loan losses increased to **$2.5 million** to support loan growth, while noninterest expense rose **25.0%** to **$67.6 million** due to the SouthCrest acquisition - Net interest margin decreased to **3.25%** for Q3 2022 from **3.48%** in Q3 2021, primarily due to a decrease in loan yields and an increase in deposit and borrowing rates[189](index=189&type=chunk) - The provision for loan losses for the nine months ended September 30, 2022, was **$2.5 million**, a significant increase from **$650,000** in the prior-year period, largely due to strong loan growth[190](index=190&type=chunk)[213](index=213&type=chunk) - Noninterest income for the nine months of 2022 increased by **$1.9 million**, driven by higher service charges and interchange fees, which offset a **$2.8 million** decline in mortgage fee income as interest rates rose[191](index=191&type=chunk)[217](index=217&type=chunk) - Noninterest expense for the nine months of 2022 increased by **$13.5 million** (**25.0%**) compared to the same period in 2021, primarily due to higher salaries and IT costs following the SouthCrest merger[192](index=192&type=chunk)[222](index=222&type=chunk) [Financial Condition and Balance Sheet Review](index=51&type=section&id=Financial%20Condition%20and%20Balance%20Sheet%20Review) Total assets increased to **$2.8 billion** at September 30, 2022, with gross loans growing by **$248.6 million** (**18.6%**) to **$1.6 billion**, while the allowance for loan losses stood at **$15.2 million** (**0.96%** of total loans), nonperforming assets remained low at **0.20%** of total assets, and total deposits saw modest growth to **$2.41 billion** - Gross loans increased by **18.6%** to **$1.6 billion** at September 30, 2022, from **$1.3 billion** at December 31, 2021[230](index=230&type=chunk) - Nonperforming assets as a percentage of total assets slightly improved to **0.20%** at September 30, 2022, compared to **0.21%** at December 31, 2021[244](index=244&type=chunk) - The allowance for loan losses as a percentage of total loans remained stable at **0.96%** at both September 30, 2022, and December 31, 2021[190](index=190&type=chunk) [Liquidity and Capital Resources](index=56&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity and capital position, enhancing its capital base in 2022 through a **$63.5 million** public offering of common stock and **$40.0 million** in subordinated notes, remaining well-capitalized with the bank's CET1 risk-based capital ratio at **12.57%** and leverage ratio at **8.96%** - In February 2022, the company completed a public offering of common stock, generating net proceeds of approximately **$59.5 million**[193](index=193&type=chunk)[259](index=259&type=chunk) - In May 2022, the company issued **$40.0 million** of **5.25%** Fixed-to-Floating Rate Subordinated Notes to further bolster its capital position[195](index=195&type=chunk)[260](index=260&type=chunk) Capital Ratios (Colony Bank) | Capital Ratios (Colony Bank) | September 30, 2022 | Well-Capitalized Minimum | | :--- | :--- | :--- | | CET1 risk-based capital ratio | 12.57% | 6.5% | | Tier 1 risk-based capital ratio | 12.57% | 8.0% | | Total risk-based capital ratio | 13.34% | 10.0% | | Leverage ratio | 8.96% | 5.0% | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=57&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks are credit, interest rate, and liquidity, managed by ALCO, with simulation models projecting a **4.56%** increase in net interest income from a **200 basis point** rate increase as of September 30, 2022, with no material changes from the 2021 Form 10-K Changes in Net Interest Income from Rate Changes | Changes in Rates | Increase (Decrease) in Net Interest Income (Sep 30, 2022) | | :--- | :--- | | +200 basis points | 4.56% | | +100 basis points | 2.34% | | -100 basis points | (2.53)% | [Item 4. Controls and Procedures](index=57&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of September 30, 2022, with no material changes in internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period[272](index=272&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the third quarter of 2022[273](index=273&type=chunk) [PART II – Other Information](index=58&type=section&id=PART%20II%20%E2%80%93%20Other%20Information) [Item 1. Legal Proceedings](index=58&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings in the ordinary course of business, with management believing that any resulting liabilities will not have a material adverse effect on its consolidated financial position - In the opinion of management, pending legal proceedings are not expected to have a material adverse effect on the company's financial condition[276](index=276&type=chunk) [Item 1A. Risk Factors](index=58&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2021 - No material changes to the risk factors disclosed in the 2021 Form 10-K were reported for the period[278](index=278&type=chunk) [Item 2. Unregistered Sale of Equity Securities and Use of Proceeds](index=58&type=section&id=Item%202.%20Unregistered%20Sale%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the third quarter of 2022, the company did not sell any unregistered shares of its common stock, nor did it or its affiliates repurchase any of its equity securities - There were no unregistered sales of the company's common stock during the three-month period ended September 30, 2022[279](index=279&type=chunk) - The company did not repurchase any of its equity securities during the third quarter of 2022[280](index=280&type=chunk) [Item 3. Defaults Upon Senior Securities](index=58&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period [Item 5. Other Information](index=58&type=section&id=Item%205.%20Other%20Information) The company reported no other information required to be disclosed under this item [Item 6. Exhibits](index=59&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications pursuant to the Sarbanes-Oxley Act of 2002 and interactive data files (Inline XBRL)

Financial Data and Key Metrics Changes - The company reported an improvement in earnings in Q3 2022 compared to Q2 2022, with core banking business contributing approximately 93% of earnings this quarter, up from about 75% in the previous two years [4] - Loan growth increased over 9% from the previous quarter, translating to an annualized growth rate of approximately 37% [5] - The loan-to-deposit ratio improved from 62% last quarter to 66% this quarter, up from 56% at the end of the previous year [6] - Net interest income increased by 9% from the previous quarter, with the margin rising from 3.15% to 3.25% [6] Business Line Data and Key Metrics Changes - Mortgage origination was slightly down from the previous quarter but remained strong given the current rate environment, with a noted shortage of inventory in key markets [8] - The government guaranteed business, referred to as SBSL, experienced a slight decline compared to the previous quarter, but the company expects a strong finish to the year [9] - The company is focusing on improving profitability in new business lines, which currently incur a drag of about $800,000 in net expenses per quarter [11] Market Data and Key Metrics Changes - The company is seeing loan growth across various markets, including Atlanta, Middle Georgia, Coastal Georgia, and Birmingham, with strong pipelines in these areas [18][20] - Birmingham is identified as a new market with significant growth potential, expected to compete well against larger regional banks [22] Company Strategy and Development Direction - The company aims to achieve a return on assets (ROA) of 1.20% by the end of 2024, currently at 0.75% [9] - A stock buyback plan of $12 million has been authorized, representing about 5% of shares outstanding, to take advantage of current market conditions [16] - The company is focused on organic funding strategies and will resort to wholesale funding only if necessary [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving near-term loan growth and emphasized the importance of maintaining a strong credit quality despite tightening credit boxes [14][40] - The company is monitoring the potential negative impact on its accumulated other comprehensive income (AOCI) due to declining securities values in a rising rate environment [15] - Management acknowledged the challenges posed by the current deposit environment but remains optimistic about the company's ability to grow loans and manage expenses effectively [31][32] Other Important Information - The company moved $190 million of securities to held-to-maturity to mitigate potential negative impacts from rising interest rates [15] - The cost of funds at the end of the quarter was approximately 50 to 55 basis points [59] Q&A Session Summary Question: Loan growth by market - Management noted strength in loan growth across various markets, including Birmingham, with expectations for continued growth [18][20] Question: Potential of Birmingham market - Management believes Birmingham has significant growth potential and can become as large as Middle Georgia and Coastal Georgia over time [21][22] Question: Margin expansion and funding capabilities - Management discussed the balance between loan growth and funding capabilities, indicating a focus on organic funding [27][29] Question: Operating expense outlook - Management anticipates some pressure on personnel expenses but believes overall operating expenses will remain stable in the near term [31][32] Question: Loan segments growth - Management reported loan growth across all segments, particularly in commercial real estate and mortgage categories [34][35] Question: Impact of new business lines on profitability - Management aims to eliminate the drag from new business lines by late 2023, with a focus on profitability [53] Question: Builder finance segment and inventory management - Builders in key markets are managing inventory conservatively, with a positive outlook despite challenges from rising rates [55][56]

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, 2022 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 ...