<SEC-DOCUMENT>0001171843-19-003513.txt : 20190520
<SEC-HEADER>0001171843-19-003513.hdr.sgml : 20190520
<ACCEPTANCE-DATETIME>20190520161714
ACCESSION NUMBER:		0001171843-19-003513
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190520
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190520
DATE AS OF CHANGE:		20190520

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:		19838968

	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>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_052019.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html><head><title></title></head><body><div style="margin-top: 3pt; margin-bottom: 12pt;"><div style="font-size: 1pt; border-top: Black 2.5pt solid; border-bottom: Black 1.1pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div></div><p style="text-align: center;"><font style="font-size: 14pt;"><strong>UNITED STATES</strong><br /><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br /><strong>Washington, D.C. 20549</strong><br />_____________________</font></p><p style="text-transform: uppercase; text-align: center;"><font style="font-size: 14pt;"><strong>Form 8-K</strong><br />_____________________</font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>CURRENT REPORT</strong></font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</strong></font></p><p align="center"><font style="font-size: 10pt;">Date of Report (Date of earliest event Reported): <!--May 20, 2019-->May 20, 2019 &#160;</font></p><p align="center"><font style="font-size: 12pt;"><strong>COLONY BANKCORP, INC.</strong></font><br /><font style="font-size: 10pt;">(Exact Name of Registrant as Specified in Charter)</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;"><strong>Georgia</strong></font></td><td align="center" width="34%"><font style="font-size: 10pt;"><strong>000-12436</strong></font></td><td align="center" width="33%"><font style="font-size: 10pt;"><strong>58-1492391</strong></font></td></tr><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;">(State or Other Jurisdiction of Incorporation)</font></td><td align="center" width="34%"><font style="font-size: 10pt;">(Commission File Number)</font></td><td align="center" width="33%"><font style="font-size: 10pt;">(I.R.S. Employer Identification Number)</font></td></tr></table><p><font style="font-size: 10pt;">&#160;</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="bottom"><td align="center" width="50%"><font style="font-size: 10pt;"><strong>115 South Grant Street, Fitzgerald, Georgia 31750</strong><!----></font></td></tr><tr valign="top"><td align="center" width="50%"><font style="font-size: 10pt;">(Address of Principal Executive Offices) (Zip Code)</font></td></tr></table><p align="center"><font style="font-size: 10pt;"><strong>(229) 426-6000</strong><br />(Registrant's telephone number, including area code)</font></p><p align="center"><font style="font-size: 10pt;"><strong>NOT APPLICABLE </strong><br />(Former name or former address, if changed since last report)</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td colspan="3"><font style="font-size: 10pt;">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:<br /><br /></font></td></tr><tr valign="top"><td width="21"><font style="font-size: 10pt;">&#160;</font></td><td width="40"><font style="font-size: 10pt;">[ &#160; ]</font></td><td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td></tr><tr valign="top"><td width="21"><font style="font-size: 10pt;">&#160;</font></td><td width="40"><font style="font-size: 10pt;">[ &#160; ]</font></td><td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td></tr><tr valign="top"><td width="21"><font style="font-size: 10pt;">&#160;</font></td><td width="40"><font style="font-size: 10pt;">[ &#160; ]</font></td><td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td></tr><tr valign="top"><td width="21"><font style="font-size: 10pt;">&#160;</font></td><td width="40"><font style="font-size: 10pt;">[ &#160; ]</font></td><td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td></tr></table><p style="font-size: 10pt; margin: 0pt;">&#160;</p><p style="font-size: 10pt; margin: 0pt 0;">Securities registered pursuant to Section 12(b) of the Act:</p><p style="font-size: 10pt; margin: 0pt 0;">&#160;</p><table style="font-size: 10pt; width: 100%; border-collapse: collapse;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="width: 40%; white-space: nowrap;"><p style="font-size: 10pt; text-align: center; margin: 0pt 0; border-bottom: Black 0.5pt solid;">Title of each Class</p></td><td style="width: 20%; white-space: nowrap;"><p style="font-size: 10pt; text-align: center; margin: 0pt 0; border-bottom: Black 0.5pt solid;">Trading Symbol(s)</p></td><td style="width: 40%; white-space: nowrap;"><p style="font-size: 10pt; text-align: center; margin: 0pt 0; border-bottom: Black 0.5pt solid;">Name of each exchange on which registered</p></td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt; text-align: center; white-space: nowrap;"><font style="font-size: 10pt;">Common stock, par value $1.00 per share</font></td><td style="font-size: 10pt; text-align: center; white-space: nowrap;"><font style="font-size: 10pt;">CBAN</font></td><td style="font-size: 10pt; text-align: center; white-space: nowrap;"><font style="font-size: 10pt;">The NASDAQ Stock Market LLC</font></td></tr></table><p style="margin: 0;">&#160;</p><p style="font-size: 10pt; margin: 0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule&#160;12b-2&#160;of the Securities Exchange Act of 1934 (17 CFR&#160;&sect;240.12b-2).&#160;Emerging growth company [&#160;&#160; ]</p><p style="font-size: 10pt; margin: 0pt;">&#160;</p><p style="font-size: 10pt; margin: 0pt;">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. [&#160;&#160; ]</p><div style="margin-top: 12pt; margin-bottom: 3pt;"><div style="font-size: 1pt; border-top: Black 1.1pt solid; border-bottom: Black 2.5pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div>&#160;</div><hr style="page-break-after: always;" noshade="noshade" /><p><font style="font-size: 10pt;">  <strong>  </strong></font></p><p><font style="font-size: 10pt;"><strong>Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</strong></font></p><p><font style="font-size: 10pt;"><p style="margin-left: 0in; text-indent: 0.5in; margin-right: 0in;" align="justify"><font style="font-size: 11pt;">On May 20, 2019, Colony Bankcorp, Inc. (the "Company"), the bank holding company for Colony Bank (the "Bank"), issued a press release announcing the upcoming retirement of Terry L. Hester and the Company's decisions regarding succession in its executive leadership, among other things.</font></p><p style="margin-left: 0in; text-indent: 0.5in; margin-right: 0in;" align="justify"><font style="font-size: 11pt;">Mr. Hester (age 64), currently Executive Vice President, Chief Financial Officer and Treasurer of the Company and the Bank, has notified the Company and the Bank that he intends to retire on December&#160;31, 2019.&#160; He plans to remain on the Company's Board of Directors, subject to customary annual approval by shareholders.</font></p><p style="margin-left: 0in; text-indent: 0.5in; margin-right: 0in;" align="justify"><font style="font-size: 11pt;">The Company has selected Tracie Youngblood as Mr. Hester's successor. &#160;She will join the Company and the Bank in mid-June 2019 as Executive Vice President, Chief Financial Officer and Treasurer of the Company and Bank.&#160; </font></p><p style="margin-left: 0in; text-indent: 0.5in; margin-right: 0in;" align="justify"><font style="font-size: 11pt;">Ms. Youngblood (age 47), was most recently Senior Vice President and Controller of Fidelity Bank in Atlanta from 2018 to present.&#160; From 2005 to 2018, she has held similar positions with Square 1 Bank in Durham, North Carolina, and Ameris Bank in Moultrie, Georgia, and Georgian Bank in Atlanta.&#160; Between 1995 and 2005, Youngblood moved up through a number of positions of increasing responsibility with other banks and organizations.</font></p><p style="margin-left: 0in; text-indent: 0.5in; margin-right: 0in;" align="justify"><font style="font-size: 11pt;">The Bank has not finalized a compensatory arrangement for Ms. Youngblood in connection with her appointment.</font></p><p style="margin-left: 0in; text-indent: 0.5in; margin-right: 0in;" align="justify"><font style="font-size: 11pt;">There are no understandings or arrangements with any persons regarding the appointment of Ms. Youngblood to these positions, there are no reportable related-party transactions with Ms. Youngblood, and there are no family relationships between her and any other officer or director of the Company. </font></p><p style="margin-left: 0in; text-indent: 0.5in; margin-right: 0in;" align="justify"><font style="font-size: 11pt;">Separately, the Company announced Lee A. Northcutt (age 61), Executive Vice President and Regional Executive Officer for the east division, has separated from his employment with the Bank, effective as of May 20, 2019.&#160; The Bank has not finalized a compensatory arrangement in connection with his departure.&#160; In connection with Mr. Northcutt's separation, the Bank will combine the roles and responsibilities of its regional executives under M. Eddie Hoyle (age 62), currently Executive Vice President and Regional Executive Officer for the west division, to create the new position of Chief Banking Officer.&#160; The Bank has not made any changes to Mr. Hoyle's compensation in connection with his new role as Chief Banking Officer.</font></p><p style="margin-left: 0in; text-indent: 0.5in; margin-right: 0in;" align="justify"><font style="font-size: 11pt;">Additionally, the Company has promoted Edward Lee Bagwell (age 52), a 16-year team member of the Company, an attorney and currently Executive Vice President and Chief Credit Officer, to Executive Vice President, Chief Risk Officer and General Counsel.&#160; The Company also has promoted J. Stan Cook (age 57), a seven-year team member, to Executive Vice President and Chief Credit Officer.&#160; Mr. Cook will no longer serve in the role of Chief Operations Officer as the position is being eliminated. &#160;The Bank has not approved any changes to Messrs. Bagwell's and Cook's compensation in connection with their role changes.</font></p></font></p><p><font style="font-size: 10pt;"><strong>  </strong></font></p><p><font style="font-size: 10pt;"><strong>Item 7.01. Regulation FD Disclosure.</strong></font></p><p><font style="font-size: 10pt;">
 <p><font style="font-size:11pt; font-family:'Times New Roman';">&#160; &#160; &#160; &#160; &#160; &#160; &#160;On May 20, 2019, the Company issued a press release announcing Mr. Hester's upcoming retirement and the Company&#8217;s appointment of Ms. Tracie Youngblood as his successor, along with other senior management changes. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8&#8209;K. </font></p> </font></p><p><font style="font-size: 10pt;"><strong>  </strong></font></p><p><font style="font-size: 10pt;"><strong>Item 9.01. Financial Statements and Exhibits.</strong></font></p><p><font style="font-size: 10pt;">
 <p align="justify" style="margin-left:0in; margin-right:0in;"><font style="font-size:10pt;">(d)&#160; Exhibits.</font></p> <table style="border-collapse:collapse !important;;border-collapse: collapse; "><tr><td style="vertical-align: bottom ; "><font style="font-size:10pt;"><u>Exhibit Number</u></font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td style="vertical-align: bottom ; "><font style="font-size:10pt;"><u>Description</u></font></td></tr><tr><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td></tr><tr><td class="hugin"><font style="font-size:10pt;"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">99.1</a></font></font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td class="hugin"><font style="font-size:10pt;"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">Press release of Colony Bankcorp, Inc. dated May 20, 2019.</a></font>&#160;</font></td></tr></table></font></p><p><font style="font-size: 10pt;"></font></p><p><font style="font-size: 10pt;"></font></p><hr style="page-break-after: always;" noshade="noshade" /><p align="center"><font style="font-size: 10pt;"><strong>SIGNATURE</strong></font></p><p><font style="font-size: 10pt;">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></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td valign="top" width="49%"><font style="font-size: 10pt;">&#160;</font></td><td style="font-size: 12pt;" colspan="2" valign="top"><font style="font-size: 10pt;"><strong>COLONY BANKCORP, INC.</strong></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">Date: May 20, 2019</font></td><td width="2%"><font style="font-size: 10pt;">By:&#160;</font></td><td style="text-decoration: underline;" width="49%"><font style="font-size: 10pt;">/s/ Terry L. Hester&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">Terry L. Hester</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">Executive Vice President and<br />Chief Financial Officer</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr></table><p /></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252" ><meta name="GENERATOR" content="MSHTML 8.00.7601.18094" ></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><font style="font-size: 14pt;"><strong>Colony Bankcorp Announces Upcoming CFO Transition and Other Senior Management Realignment and Promotions</strong></font></p><p style="text-align: center;"><strong></strong></p><p>
 <p align="justify">FITZGERALD, Ga., May  20, 2019  (GLOBE NEWSWIRE) -- Colony Bankcorp, Inc. (NASDAQ: CBAN) ("Colony" or the "Company") today announced that Terry L. Hester (age 64), Executive Vice President, Chief Financial Officer and Secretary of the Company, has informed the Company that he intends to retire on December&#160;31, 2019, after 42 years of service to Colony. Anticipating his decision, Colony has completed an executive search and has named Tracie Youngblood as Hester's successor. Youngblood is expected to join the Company in mid-June 2019.<br ></p>  <p align="justify">Commenting on the announcement, Heath Fountain, President and Chief Executive Officer, said, "We are grateful for Terry's dedicated service to Colony and his leadership in the Company's financial and regulatory matters. He has long played a significant role in the development and execution of our strategic plan. I am delighted to note that Terry will remain a member of the Company's Board of Directors and, thus, help provide for continuity in our long-term planning and governance.</p>  <p align="justify">"I am equally enthusiastic about the prospects of Tracie Youngblood joining our company and working alongside Terry for the remainder of 2019 to ensure a smooth transition in CFO responsibilities," Fountain continued. "With almost 25 years of banking experience, including significant involvement with several publicly held financial institutions with assets of more than $4 billion, she brings a wealth of knowledge in the areas of accounting, SEC and external reporting, financial planning, budgeting, and analysis. Tracie has developed a particularly strong skill set surrounding financial transactions, like public offerings, mergers and acquisitions, which makes her well suited to contribute to our future efforts to expand our footprint."</p>  <p align="justify">Youngblood (age 47) was most recently Senior Vice President and Controller of Fidelity Bank in Atlanta, which is being acquired by Ameris Bank. She has held similar positions with Square 1 Bank in Durham, North Carolina, and Ameris Bank in Moultrie, Georgia, and Georgian Bank in Atlanta. Between 1995 and 2005, Youngblood moved up through a number of positions of increasing responsibility with other banks and organizations.</p>  <p align="justify">Additionally, Fountain announced that Lee A. Northcutt (age 61), Executive Vice President and Regional Executive Officer for the east division, has left the company, effective immediately. In connection with this, Colony will combine the roles and responsibilities of its regional executives under M. Eddie Hoyle (age 62), currently Executive Vice President and Regional Executive Officer for the west division, to create the new position of Chief Banking Officer.</p>  <p align="justify">"With distinguished service to our company for more than nine years, we wish Lee well in his future endeavors," Fountain said. "In the role of regional executive, he has made important contributions to our growth. Similarly, Eddie has shown great leadership in our western operations, and we are excited to have the opportunity to consolidate and streamline our organizational structure by naming him Chief Banking Officer. We look forward to his ongoing positive engagement with our bankers and customers as he helps oversee the next chapter of our growth story."</p>  <p align="justify">Fountain pointed out that, with the changes in regional executive responsibilities, the Company has taken advantage of the occasion to strengthen its team with additional promotions. Edward Lee Bagwell (age 52), a 16&#8209;year team member of the Company, an attorney and currently Executive Vice President and Chief Credit Officer, will become Executive Vice President, Chief Risk Officer and General Counsel. The Company also has promoted J. Stan Cook (age 57), a seven-year team member, to Executive Vice President and Chief Credit Officer. He formerly was Executive Vice President and Chief Operations Officer. "Our company is fortunate to have amassed talent and experience across the organization, and we are pleased to be able to recognize Lee and Stan with new responsibilities that draw on their unique perspectives as we pursue our strategic objectives. These promotions underscore our ongoing efforts to capitalize on our human assets and ensure that our team members are in the right place and roles to maximize their contributions."</p>  <p align="justify"><strong>About Colony Bankcorp</strong></p>  <p align="justify">Colony Bankcorp, Inc. is the bank holding company for Colony Bank. Founded in 1975 and headquartered in Fitzgerald, Georgia, Colony operates 29 full-service branches throughout Central, Southern and Coastal Georgia, a loan production office in Atlanta, and a full-service website at www.colonybank.com. Colony's common stock is traded on the NASDAQ Global Market under the symbol CBAN. Follow the Company on Facebook or on Twitter @colony_bank.</p>  <p align="justify"><strong>Forward-Looking Statements</strong></p>  <p align="justify">This news release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. In general, forward-looking statements usually use words such as "may," "believe," "expect," "anticipate," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology, including statements related to the expected returns and other benefits of the merger to shareholders. Forward-looking statements represent management's beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are no guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements.</p>  <p>For additional information, contact:<br >T. Heath Fountain<br >President &amp; CEO<br >(229) 426-6000 (Ext 6012)</p> </p><p ></p></body></html>
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