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BORROWINGS (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | The following table presents information regarding the Company’s outstanding borrowings at December 31, 2022:
Description | Maturity Date |  | Amount |  | Interest Rate
(dollars in thousands) |  |  |  |  |
FHLB Advances | March 21, 2028 |  | $ | 5,000 |  |  | 2.67%
FHLB Advances | January 5, 2023 |  | 20,000 |  |  | 4.18%
FHLB Advances | January 9, 2023 |  | 20,000 |  |  | 4.15%
FHLB Advances | March 8, 2023 |  | 10,000 |  |  | 4.65%
FHLB Advances | January 17, 2023 |  | 20,000 |  |  | 4.15%
FHLB Advances | January 20, 2023 |  | 15,000 |  |  | 4.23%
FHLB Advances | December 22, 2027 |  | 15,000 |  |  | 4.00%
FHLB Advances | January 30, 2023 |  | 20,000 |  |  | 4.23%
FRB Discount Window | January 5, 2023 |  | 15,000 |  |  | 4.10%
Subordinated notes | May 20, 2032 |  | 39,123 |  |  | 5.25%
Subordinated debentures | (1) |  | 24,229 |  |  | (1)
Total borrowings |  | $ | 203,352 |  |  |
(1) See individual maturity dates and interest rates in table below. The following table presents information regarding the Company’s outstanding borrowings at December 31, 2021:
Description | Maturity Date |  | Amount |  | Interest Rate
(dollars in thousands) |  |  |  |  |  |  |
FHLB Advances | February 3, 2023 |  | $ | 3,000 |  |  | 3.51%
FHLB Advances | March 21, 2028 |  | 5,000 |  |  | 2.67%
FHLB Advances | August 15, 2025 |  | 4,500 |  |  | 2.62%
FHLB Advances | July 30, 2029 |  | 10,000 |  |  | 1.01%
FHLB Advances | July 11, 2029 |  | 10,000 |  |  | 1.03%
FHLB Advances | November 9, 2029 |  | 20,000 |  |  | 1.07%
Term Note | May 24, 2025 |  | 7,250 |  |  | 4.70%
Revolving Credit | July 30, 2022 |  | 5,313 |  |  | 2.85%
Subordinated debentures | (1) |  | 24,229 |  |  | (1)
Fair value adjustment for FHLB Borrowings acquired from SouthCrest |  |  | (844) |  |  | N/A
Total borrowings |  | $ | 88,448 |  |  |  |  |
(1) See individual maturity dates and interest rates in table below.
Schedule of Subordinated Borrowing | The following table presents the information regarding the Company's subordinated debentures at December 31, 2022 and 2021. All subordinated debentures are at three month LIBOR rate plus added points noted below at December 31, 2022 and 2021.
Description | Date | Amount |  | Added Points |  |  | Maturity | 5-Year Call Option
(dollars in thousands) |  |  |  |  |  |  |  |
Colony Bankcorp Statutory Trust III | June 16, 2004 | $ | 4,640 |  |  | 2.68% |  |  | June 14, 2034 | June 17, 2009
Colony Bankcorp Capital Trust I | April 13, 2006 | 5,155 |  |  | 1.50% |  |  | April 13, 2036 | April 13, 2011
Colony Bankcorp Capital Trust II | March 12, 2007 | 9,279 |  |  | 1.65% |  |  | March 12, 2037 | March 12, 2012
Colony Bankcorp Capital Trust III | September 14, 2007 | 5,155 |  |  | 1.40% |  |  | September 14, 2037 | September 14, 2012

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