Business Wire·Oct 28, 2026, 4:36 PM ET

Colony Bankcorp, Inc. Reports Third Quarter 2026 Results Declares Quarterly Cash Dividend of $0.12 Per Share

CBAN

Colony Bankcorp reported net income of $10.5 million ($0.50 per diluted share) for the third quarter of 2026, compared to $10.9 million in the prior quarter & $5.8 million in the same period last year.
Operating net income for the quarter was $11.6 million ($0.54 per diluted share), rising from $11.0 million in the second quarter of 2026.
The provision for credit losses recorded was $1.7 million, down from $1.9 million in the second quarter of 2026 & $900,000 in the third quarter of 2025.
Total loans excluding held-for-sale assets reached $2.48 billion at September 30, 2026, an increase of 0.50% from the prior quarter.
Total deposits decreased to $2.96 billion at September 30, 2026, from $2.97 billion at June 30, 2026, representing a $14.5 million decline.
Mortgage production was $96.5 million while sales totaled $69.2 million in the third quarter of 2026, compared to $115.4 million in production & $67.3 million in sales in the second quarter.
Small Business Specialty Lending closed $29.9 million in SBA loans & sold $12.7 million in SBA loans during the quarter, up significantly from the previous quarter's figures.
The Board declared a quarterly cash dividend of $0.12 per share on October 28, 2026, payable on November 25, 2026, to shareholders of record as of November 11, 2026.
Net interest margin for the quarter was 3.59%, an improvement from 3.17% in the third quarter of 2025, driven by higher asset yields & lower funding costs.
Nonperforming assets increased to $25.0 million at September 30, 2026, from $20.9 million in the prior quarter, primarily due to one construction relationship downgrade.
The allowance for credit losses on loans stood at $22.5 million, or 0.91% of total loans, at September 30, 2026.
On October 27, 2026, the company entered a sale-leaseback agreement for three retail branches for approximately $19.9 million, expecting an aggregate pre-tax gain of $15 million.
Regulatory & shareholder approvals were obtained for the partnership with First Reliance, with systems conversion & customer integration scheduled for the second quarter of 2027.
Total assets grew to $3.65 billion at September 30, 2026, an increase of $20.3 million from June 30, 2026.
The company's capital ratios remained well above regulatory minimums, with a common equity tier one capital ratio of 13.50% at September 30, 2026.
Noninterest expense for the quarter was $27.6 million, driven by increases in salaries, occupancy, IT expenses, & acquisition-related costs.