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Note 21 - Financial Information of Colony Bankcorp, Inc. (Parent Only) | 12 Months Ended
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Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | (2 1) Financial Information of Colony Bankcorp, Inc. (Parent Only) The parent company’s balance sheets as of December 31, 2015 and 2014 and the related statements of operations and comprehensive income (loss) and cash flows for each of the years in the three-year period then ended are as follows: COLONY BANKCORP, INC. (PARENT ONLY) BALANCE SHEETS DECEMBER 31
ASSETS |
|  | 20 15 |  |  | 2014 |
Cash |  | $ | 4,100,860 |  |  | $ | 5,750,652 |
Premises and Equipment, Net |  |  | 1,134,524 |  |  |  | 1,199,639 |
Investment in Subsidiary, at Equity |  |  | 114,677,455 |  |  |  | 115,066,948 |
Other |  |  | 170,801 |  |  |  | 1,708,380 |
Total Assets |  | $ | 120,083,640 |  |  | $ | 123,725,619 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |
Liabilities |  |  |  |  |  |  |  |
Dividends Payable |  | $ | 202,736 |  |  | $ | 315,000 |
Other |  |  | 195,282 |  |  |  | 154,307 |
|  |  | 398,018 |  |  |  | 469,307 |
Subordinated Debt |  |  | 24,229,000 |  |  |  | 24,229,000 |
Stockholders’ Equity |  |  |  |  |  |  |  |
Preferred Stock, Stated Value $1,000; Authorized 10,000,000 Shares, Issued 18,021 and 28,000 Shares as of December 31, 2015 and 2014 |  |  | 18,021,000 |  |  |  | 28,000,000 |
Common Stock, Par Value $1; Authorized 20,000,000 Shares, Issued 8,439,258 Shares as of December 31, 2015 and 2014 |  |  | 8,439,258 |  |  |  | 8,439,258 |
Paid-In Capital |  |  | 29,145,094 |  |  |  | 29,145,094 |
Retained Earnings |  |  | 44,285,621 |  |  |  | 38,287,934 |
Accumulated Other Comprehensive Loss, Net of Tax |  |  | (4,434,351 | ) |  |  | (4,844,974 | )
|  |  | 95,456,622 |  |  |  | 99,027,312 |
Total Liabilities and Stockholders’ Equity |  | $ | 120,083,640 |  |  | $ | 123,725,619 |
COLONY BANKCORP, INC. (PARENT ONLY) STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31
|  | 20 15 |  |  | 2014 |  |  | 2013 |
Income |  |  |  |  |  |  |  |  |  |  |  |
Dividends from Subsidiary |  | $ | 10,015,147 |  |  | $ | 12,015,572 |  |  | $ | 1,515,549 |
Management Fees |  |  | 581,334 |  |  |  | 581,334 |  |  |  | 581,334 |
Other |  |  | 112,876 |  |  |  | 100,269 |  |  |  | 96,953 |
|  | $ | 10,709,357 |  |  | $ | 12,697,175 |  |  |  | 2,193,836 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest |  |  | 503,286 |  |  |  | 517,381 |  |  |  | 516,641 |
Amortization |  |  | - |  |  |  | 938 |  |  |  | 2,250 |
Salaries and Employee Benefits |  |  | 811,150 |  |  |  | 782,152 |  |  |  | 748,149 |
Other |  |  | 666,872 |  |  |  | 538,847 |  |  |  | 543,139 |
|  |  | 1,981,308 |  |  |  | 1,839,318 |  |  |  | 1,810,179 |
Income Before Taxes and Equity in Undistributed Earnings of Subsidiary |  |  | 8,728,049 |  |  |  | 10,857,857 |  |  |  | 383,657 |
Income Tax Benefits |  |  | 444,764 |  |  |  | 396,738 |  |  |  | 406,518 |
Income Before Equity in Undistributed Earnings of Subsidiary |  |  | 9,172,813 |  |  |  | 11,254,595 |  |  |  | 790,175 |
Dividends Received in Excess of Earnings of Subsidiary |  |  | (800,116 | ) |  |  | (3,722,970 | ) |  |  | - |
Equity in Undistributed Earnings of Subsidiary |  |  | - |  |  |  | - |  |  |  | 3,838,870 |
Net Income |  |  | 8,372,697 |  |  |  | 7,531,625 |  |  |  | 4,629,045 |
Preferred Stock Dividends |  |  | 2,375,010 |  |  |  | 2,688,604 |  |  |  | 1,508,761 |
Net Income Available to Common Stockholders |  | $ | 5,997,687 |  |  | $ | 4,843,021 |  |  | $ | 3,120,284 |
COLONY BANKCORP, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) FOR THE YEARS ENDED DECEMBER 31
|  | 20 15 |  |  | 2014 |  |  | 2013 |
Net Income |  | $ | 8,372,697 |  |  | $ | 7,531,625 |  |  | $ | 4,629,045 |
Other Comprehensive Income (Loss) |  |  |  |  |  |  |  |  |  |  |  |
Gains (Losses) on Securities Arising During the Year |  |  | 610,689 |  |  |  | 6,432,906 |  |  |  | (13,886,854 | )
Tax Effect |  |  | (207,634 | ) |  |  | (2,187,189 | ) |  |  | 4,721,531 |
Realized Gains (Losses) on Sale of AFS Securities |  |  | 11,466 |  |  |  | (23,735 | ) |  |  | (2,819 | )
Tax Effect |  |  | (3,898 | ) |  |  | 8,070 |  |  |  | 959 |
Impairment Loss on Securities |  |  | - |  |  |  | - |  |  |  | 366,623 |
Tax Effect |  |  | - |  |  |  | - |  |  |  | (124,652 | )
Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects |  |  | 410,623 |  |  |  | 4,230,052 |  |  |  | (8,925,212 | )
Comprehensive Income (Loss) |  | $ | 8,783,320 |  |  | $ | 11,761,677 |  |  | $ | (4,296,167 | )
COLONY BANKCORP, INC. (PARENT ONLY) STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31
|  | 20 15 |  |  | 2014 |  |  | 2013 |
Cash Flows from Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net Income |  | $ | 8,372,697 |  |  | $ | 7,531,625 |  |  | $ | 4,629,045 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and Amortization |  |  | 73,999 |  |  |  | 75,347 |  |  |  | 80,711 |
Equity in Undistributed Earnings of Subsidiary |  |  | 800,116 |  |  |  | 3,722,970 |  |  |  | (3,838,870 | )
Change in Interest Payable |  |  | 23,072 |  |  |  | (1,069,695 | ) |  |  | 516,641 |
Other |  |  | 1,555,482 |  |  |  | (437,115 | ) |  |  | (390,962 | )
|  |  | 10,825,366 |  |  |  | 9,823,132 |  |  |  | 996,565 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |  |  |  |
Purchases of Premises and Equipment |  |  | (8,884 | ) |  |  | (2,020 | ) |  |  | (68,708 | )
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Dividends Paid on Preferred Stock |  |  | (2,487,274 | ) |  |  | (5,492,749 | ) |  |  | - |
Redemption of Preferred Stock |  |  | (9,979,000 | ) |  |  | - |  |  |  | - |
|  |  | (12,466,274 | ) |  |  | (5,492,749 | ) |  |  | - |
Increase (Decrease) in Cash |  |  | (1,649,792 | ) |  |  | 4,328,363 |  |  |  | 927,857 |
Cash and Cash Equivalents, Beginning |  |  | 5,750,652 |  |  |  | 1,422,289 |  |  |  | 494,432 |
Cash and Cash Equivalents, Ending |  | $ | 4,100,860 |  |  | $ | 5,750,652 |  |  | $ | 1,422,289 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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