Colony Bank(US:CBAN)2023-10-26 14:22Financial Performance - Company reported diluted earnings per share of $0.33 and adjusted diluted earnings per share of $0.34 in the third quarter of 2023[123] - Total assets reached $3,093.8 million, total loans were $1,865.0 million, and total deposits stood at $2,591.3 million as of September 30, 2023[123] - Return on average assets was 0.75% and return on average total equity was 9.61% for the third quarter of 2023[123] Liquidity and Capital Strength - Total liquidity sources reached $1,389.7 million as of September 30, 2023, encompassing $443.0 million in unencumbered securities and $587.9 million in FHLB borrowing capacity[127] - Investment securities portfolio totaled $272,993 thousand in municipal securities and $353,157 thousand in U.S. Agency MBS/CMO representing 38% of the portfolio[145] Loan Portfolio and Credit Metrics - Real estate loans represent 83.3% of the total loan portfolio, divided into nonowner occupied real estate at 33.3% and residential real estate at 21.8 %[32] - Total loans secured by office buildings amounted to $150.7 million, with past dues comprising 0.07% of the office portfolio[74, 65] Strategic Objectives and Guidance - Company established a return on assets target of 1.00% during 2024 and aims for 5 complementary lines of business exceeding $1 million in net income[10] - Company projects a long-term return on assets target of 1.20% while targeting a customer base growth rate of 8% to 12% per year[94, 115]