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<SEC-DOCUMENT>0001140361-10-017814.txt : 20100428
<SEC-HEADER>0001140361-10-017814.hdr.sgml : 20100428
<ACCEPTANCE-DATETIME>20100428162144
ACCESSION NUMBER:		0001140361-10-017814
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100426
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100428
DATE AS OF CHANGE:		20100428

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COLONY BANKCORP INC
		CENTRAL INDEX KEY:			0000711669
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				581492391
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12436
		FILM NUMBER:		10777194

	BUSINESS ADDRESS:	
		STREET 1:		115 SOUTH GRANT STREET
		STREET 2:		.
		CITY:			FITZGERALD
		STATE:			GA
		ZIP:			31750
		BUSINESS PHONE:		229-426-6000

	MAIL ADDRESS:	
		STREET 1:		115 SOUTH GRANT STREET
		STREET 2:		.
		CITY:			FITZGERALD
		STATE:			GA
		ZIP:			31750
</SEC-HEADER>
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<TYPE>8-K
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<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">FORM 8-K</font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CURRENT REPORT</font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">PURSUANT TO SECTION 13 OR 15(d) OF<br>
</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">THE SECURITIES EXCHANGE ACT OF 1934</font></font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of Report (Date of earliest event reported): <font style="FONT-WEIGHT: bold">April 26, 2010</font></font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman">COLONY BANKCORP, INC.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact name of registrant as specified in its charter)</font></div>

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</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Commission File No.)</font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">115 South Grant Street, Fitzgerald, Georgia 31750<br>
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address of principal executive offices)</font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(229) 426-6000</font></div>

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</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant's Telephone Number, including area code</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">N/A<br>
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former name or former address, if changed since last report)</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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 (see General Instruction A.2. below):</font></div>

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<div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Item 3.01</font></div>
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<div><font style="DISPLAY: inline; FONT-WEIGHT: bold">Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;&#160;&#160; Transfer of Listing</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On April 26, 2010, Colony Bankcorp, Inc. (the &#8220;Company&#8221;) received a letter of reprimand from the Nasdaq Listing Qualification Department (the &#8220;Listing Department&#8221;) indicating the Listing Department had determined the Company failed to comply with Listing Rule 5635(c) (the &#8220;Rule&#8221;) in connection with the Company&#8217;s private placement sale of common stock.&#160;&#160;The Rule requires prior shareholder approval if shares are sold to the officers and directors in a private placement offering at a discount to the market value, which is considered to be a form of equity compensation.&#160;&#160;The Listing Department interprets &#8220;market value&#8221; to be the closing bid price immediately preceding the entering into a binding agreement to issue the securities.&#160;&#160;The Listing Department determined the Company sold the shares to six officers and directors who participate
d in the offering at a discount to the market value.&#160;&#160;All other sales in the offering are unaffected.&#160;&#160;The shares were sold in the offering at $4.11 per share, which was the twenty day average closing price preceding the offering date.&#160;&#160;The Listing Department determined that the applicable closing bid price for the six officers and directors on the date binding agreements were executed were $4.25 and $4.50.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Immediately upon notification of the Listing Department&#8217;s interpretation of the Company&#8217;s failure to comply with the Rule, the Company entered into six amended subscription agreements increasing the price per share paid by the officers and directors to the revised per share price as specified by the Listing Department.&#160;&#160;Accordingly, the Listing Department has determined the Company regained compliance with the Rule, and upon this disclosure, deems the matter closed.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The following exhibit is being filed as part of this Report on Form 8-K:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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<td colspan="2" valign="top" width="38%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">COLONY BANKCORP, INC.</font></td>
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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date: <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;April 28, 2010&#160; </font></font></font></div>
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