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FINANCIAL INFORMATION OF COLONY BANKCORP, INC. (PARENT ONLY) | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
FINANCIAL INFORMATION OF COLONY BANKCORP, INC. (PARENT ONLY) | FINANCIAL INFORMATION OF COLONY BANKCORP, INC. (PARENT ONLY) The parent company’s balance sheets as of December 31, 2024 and 2023 and the related statements of operations and comprehensive income (loss) and cash flows for each of the years in the two-year period then ended are as follows: COLONY BANKCORP, INC. (PARENT ONLY) BALANCE SHEETS DECEMBER 31 (DOLLARS IN THOUSANDS)
| 2024 |  | 2023
ASSETS |  |  |
Cash | $ | 28,692 |  |  | $ | 29,057 |
Investment in subsidiaries | 305,918 |  |  | 283,968 |
Other | 7,297 |  |  | 6,413 |
Total Assets | $ | 341,907 |  |  | $ | 319,438 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |
Liabilities |  |  |
Other | $ | 193 |  |  | $ | 1,058 |
Subordinated notes | 38,810 |  |  | 39,216 |
Subordinated debentures | 24,229 |  |  | 24,229 |
Total Liabilities | 63,232 |  |  | 64,503 |
Stockholders’ Equity |  |  |
Common stock, par value $1.00 per share; 50,000,000 shares authorized, 17,519,884 and 17,564,182 shares issued and outstanding as of December 31, 2024 and 2023, respectively | 17,520 |  |  | 17,564 |
Paid-in capital | 168,353 |  |  | 168,614 |
Retained earnings | 140,369 |  |  | 124,400 |
Accumulated other comprehensive loss, net of tax | (47,567) |  |  | (55,643) |
Total Stockholder’s Equity | 278,675 |  |  | 254,935 |
Total Liabilities and Stockholders’ Equity | $ | 341,907 |  |  | $ | 319,438 |
COLONY BANKCORP, INC. (PARENT ONLY) STATEMENTS OF INCOME FOR THE YEARS ENDED DECEMBER 31 (DOLLARS IN THOUSANDS)
| 2024 |  | 2023
Income |  |  |
Interest on deposits with banks | $ | 4 |  |  | $ | 3 |
Dividends from subsidiaries | 13,217 |  |  | 1,055 |
Other | 204 |  |  | 138 |
Total income | 13,425 |  |  | 1,196 |
Expenses |  |  |
Interest | 3,937 |  |  | 3,920 |
Salaries and employee benefits | 461 |  |  | 457 |
Other | 183 |  |  | 254 |
Total expenses | 4,581 |  |  | 4,631 |
Income (loss) before income taxes and equity in undistributed earnings of subsidiaries | 8,844 |  |  | (3,435) |
Income tax benefit | 1,150 |  |  | 680 |
Income (loss) before equity in undistributed earnings of subsidiaries | 9,994 |  |  | (2,755) |
Equity in undistributed earnings of subsidiaries | 13,874 |  |  | 24,502 |
Net income | $ | 23,868 |  |  | $ | 21,747 |
COLONY BANKCORP, INC. (PARENT ONLY) STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31 (DOLLARS IN THOUSANDS)
| 2024 |  | 2023
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |
Net income | $ | 23,868 |  |  | $ | 21,747 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
Stock-based compensation expense | 1,296 |  |  | 1,701 |
Equity in undistributed earnings of subsidiaries | (13,874) |  |  | (24,502) |
Amortization of debt issuance costs | 94 |  |  | 93 |
Change in interest payable | (7) |  |  | 14 |
Other | (1,742) |  |  | (1,977) |
Net cash provided by (used in) operating activities | 9,635 |  |  | (2,924) |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |
Redemption of subordinated debt | (500) |  |  | — |
Cash paid for tax withholding related to vesting of restricted stock | (296) |  |  | (252) |
Repurchase of shares | (1,305) |  |  | (406) |
Dividends paid on common stock | (7,899) |  |  | (7,722) |
Net cash used in financing activities | (10,000) |  |  | (8,380) |
Net decrease in cash and cash equivalents | (365) |  |  | (11,304) |
Cash and cash equivalents at beginning of period | 29,057 |  |  | 40,361 |
Cash and cash equivalents at end of period | $ | 28,692 |  |  | $ | 29,057 |

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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/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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