AI Earnings Predictions for Colony Bankcorp Inc. (CBAN)

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EX-99.1

2 cban-20260422xex99d1.htm

EX-99.1

Exhibit 99.1

For additional information, contact:

Derek Shelnutt

EVP & Chief Financial Officer

229-426-6000, extension 6119

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COLONY BANKCORP, INC. REPORTS FIRST QUARTER 2026 RESULTS

DECLARES QUARTERLY CASH DIVIDEND OF $0.12 PER SHARE

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FITZGERALD, GA. (April 22, 2026) – Colony Bankcorp, Inc. (NYSE: CBAN) (“Colony” or the “Company”) today reported financial results for the first quarter of 2026.  Financial highlights are shown below.

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Financial Highlights:

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●Net income was $8.2 million, or $0.39 per diluted share, for the first quarter of 2026, compared to $7.8 million, or $0.42 per diluted share, for the fourth quarter of 2025, and $6.6 million, or $0.38 per diluted share, for the first quarter of 2025.

●Operating net income was $9.5 million, or $0.45 of operating earnings per diluted share, for the first quarter of 2026, compared to $8.9 million, or $0.48 of operating earnings per diluted share, for the fourth quarter of 2025, and $6.6 million, or $0.38 of operating earnings per diluted share, for the first quarter of 2025. (See Reconciliation of Non-GAAP Measures).

●Provision for credit losses of $1.75 million was recorded in the first quarter of 2026 compared to $1.65 million in the fourth quarter of 2025, and $1.50 million in the first quarter of 2025.

●Total loans, excluding loans held for sale, were $2.41 billion at March 31, 2026, an increase of $32.2 million, or 1.35%, from the prior quarter.

●Total deposits were $3.05 billion and $3.07 billion at March 31, 2026 and December 31, 2025, respectively, a decrease of $19.1 million.

●Mortgage production was $88.5 million, and mortgage sales totaled $61.4 million in the first quarter of 2026 compared to $89.5 million and $68.1 million, respectively, for the fourth quarter of 2025.

●Small Business Specialty Lending (“SBSL”) closed $13.1 million in Small Business Administration (“SBA”)  loans and sold $10.4 million in SBA loans in the first quarter of 2026 compared to $29.1 million and $16.8 million, respectively, for the fourth quarter of 2025.

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The Company also announced that on April 22, 2026, the Board of Directors declared a quarterly cash dividend of $0.12 per share, to be paid on its common stock on May 20, 2026, to shareholders of record as of the close of business on May 6, 2026. The Company had 21,162,104 shares of its common stock outstanding as of April 20, 2026.

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"Our first quarter performance represents a strong start to the year, characterized by meaningful improvement compared to the first quarter in the prior year and continued disciplined execution of our strategic initiatives. In addition to our solid financial performance during the quarter, our team successfully completed the TC Federal customer integration and core systems conversion which represents a significant operational achievement that allows us to fully realize the efficiencies of our combined organization and provides a scalable platform for future growth,” said Heath Fountain, Chief Executive Officer.

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"Beyond core banking operations, our complementary lines of business continue to demonstrate significant momentum, contributing to a notable increase in noninterest income compared to the first quarter of the prior year. This growth highlights the success of our diversification strategy and our ability to deepen client relationships across our platform.”

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1

“Colony Insurance and Colony Financial Advisors both achieved their strongest quarters to date on a pre-tax basis. The performance of these lines of business illustrates the value of our integrated financial services model and provides a resilient, diversified revenue stream that complements our core banking operations."

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“We are also encouraged by the continued expansion of our net interest margin, marking another consecutive quarter of improvement. This trend, supported by our diligent management of deposit costs and asset yields, reinforces the underlying strength of our balance sheet. As we move forward, we remain committed to leveraging our enhanced scale and operational stability to deliver consistent results for our shareholders."

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Balance Sheet

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●Total assets were $3.72 billion at March 31, 2026, a slight decrease of $14.8 million from December 31, 2025.

●Total loans, excluding loans held for sale, were $2.41 billion at March 31, 2026, an increase of $32.2 million from December 31, 2025.

●Total deposits were $3.05 billion and $3.07 billion at March 31, 2026 and December 31, 2025, respectively, a decrease of $19.1 million.  Decreases were seen in noninterest-bearing demand deposits of $31.5 million, interest-bearing demand deposits of $4.5 million and time deposits of $1.7 million while savings and money market deposits increased $18.6 million, from December 31, 2025 to March 31, 2026.  The decline in organic customer deposits was driven by the seasonal municipal deposit outflow early in the quarter, however customer deposits incr

cban-202601280000711669FALSE00007116692026-01-282026-01-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 28, 2026

COLONY BANKCORP, INC.

(Exact name of registrant as specified in its charter)

Georgia001-4239758-1492391 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

115 South Grant Street, Fitzgerald, Georgia 31750 (Address of principal executive offices) (Zip Code) (229) 426-6000 (Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each ClassTrading Symbol(s)Name of each exchange on which registered Common stock, par value $1.00 per shareCBANThe New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operation and Financial Condition

On January 28, 2026, Colony Bankcorp, Inc. issued a press release announcing its consolidated financial results for the fourth quarter and full year ended December 31, 2025, as well as the announcement of a regular quarterly cash dividend. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 24, 2026, Colony Bank (“Bank”), a Georgia Bank and wholly-owned subsidiary of Colony Bankcorp, Inc. (the “Holding Company” and, together with the Bank, the “Company”), entered into an employment agreement with Derek Shelnutt (“Employee”), to continue as the Chief Financial Officer of both the Holding Company and the Bank (the “Employment Agreement”). Below is a summary of the material terms of the Employment Agreement.

The Employment Agreement is effective as of January 24, 2026, at which time Mr. Shelnutt’s prior employment agreement dated January 24, 2024, will expire. The Employment Agreement has a two-year term and provides for an annual base salary of $300,000 per year. Mr. Shelnutt will have an opportunity to receive an annual bonus based upon the achievement of performance goals established from year to year by the Compensation Committee. Mr. Shelnutt will also have an opportunity to participate in the Bank’s benefits plans available to other similarly-situated Company employees, subject to the terms and conditions of such plans, and he will be eligible for PTO and holidays consistent with the Bank’s policies.

Pursuant to the Employment Agreement, if a change in control of the Company occurs during the term of the Employment Agreement and, within twelve months following such change in control, the Company terminates Mr. Shelnutt’s employment other than for “cause” or “disability” or Mr. Shelnutt resigns for “good reason” (as such terms are defined in the Employment Agreement), then the Bank will pay to Mr. Shelnutt an amount equal to one and one-half (1.5) times the sum of Mr. Shelnutt’s then-current base salary plus an amount equal to the annual bonus paid in the prior calendar year, payable in a single lump sum within 30 days following his termination, subject to Mr. Shelnutt’s compliance with certain restrictive covenants and execution and non-revocation of a general release of claims against the Company.

Pursuant to the Employment Agreement, if the Company terminates Mr. Shelnutt’s employment other than for “cause” or “disability” or Mr. Shelnutt resigns for “good reason” prior to a change in control or more than twelve (12) months following a change in control, then the Bank will pay to Mr. Shelnutt an amount equal to one times Mr. Shelnutt’s then-current base salary, payable in equal installments over twelve months in accordance with current payroll policies following his termination, subject to Mr. S