Financial Information of Colony Bankcorp, Inc. (Parent Only)

6 Months Ended

Jun. 30, 2011

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Financial Information of Colony Bankcorp, Inc. (Parent Only)

(21) Financial Information of Colony Bankcorp, Inc. (Parent Only)

The parent company's balance sheets as of June 30, 2011 and December 31, 2010 and the related statements of income and comprehensive income and cash flows are as follows:

COLONY BANKCORP, INC. (PARENT ONLY)

BALANCE SHEETS

JUNE 30, 2011 AND DECEMBER 31, 2010

(DOLLARS IN THOUSANDS)

ASSETS	June 30, 2011			December 31, 2010
	(Unaudited)			(Audited)
Cash	$	1,518		$	3,173
Premises and Equipment, Net		1,425			1,478
Investment in Subsidiaries, at Equity		116,176			112,389
Other		1,023			484
Totals Assets	$	120,142		$	117,524
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Dividends Payable		175		$	175
Other		146			162
		321			337
Subordinated Debt		24,229			24,229
Stockholders' Equity
Preferred Stock, Par Value $1,000 a Share; Authorized 10,000,000 Shares, Issued 28,000 Shares as of June 30, 2011		27,583			27,506
Common Stock, Par Value $1 a Share; Authorized 20,000,000 Shares, Issued 8,442,958 and 8,442,958 Shares as of June 30, 2011 and December 31, 2010, Respectively		8,443			8,443
Paid-In Capital		29,171			29,171
Retained Earnings		29,297			28,479
Restricted Stock - Unearned Compensation		(20	)		(41	)
Accumulated Other Comprehensive Loss, Net of Tax		1,118			(600	)
		95,592			92,958
Total Liabilities and Stockholders' Equity	$	120,142		$	117,524

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENT OF INCOME

SIX MONTHS ENDED JUNE 30, 2011 AND 2010

(UNAUDITED)

(DOLLARS IN THOUSANDS)

	JUNE 30, 2011			JUNE 30, 2010
Income
Dividends from Subsidiaries	$	8		$	7
Management Fees		253			228
Other		51			58
		312			293
Expenses
Interest		251			248
Salaries and Employee Benefits		383			389
Other		360			380
		994			1,017
Income (Loss) Before Taxes and Equity in Undistributed Earnings of Subsidiaries		(682	)		(724	)
Income Tax (Benefits)		(208	)		(298	)
Income (Loss) Before Equity in Undistributed Earnings of Subsidiaries		(474	)		(426	)
Equity in Undistributed Earnings of Subsidiaries		2,069			1,631
Net Income		1,595			1,205
Preferred Stock Dividends		700			700
Net Income Available to Common Shareholders	$	895		$	505

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENT OF COMPREHENSIVE INCOME

SIX MONTHS ENDED JUNE 30, 2011 AND 2010

(UNAUDITED)

(DOLLARS IN THOUSANDS)

	JUNE 30, 2011			JUNE 30, 2010
Net Income	$	1,595		$	1,205
Other Comprehensive Income, Net of Tax
Gains on Securities Arising During Year		2,465			3,815
Reclassification Adjustment		(747	)		(579	)
Change in Net Unrealized Gains on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects		1,718			3,236
Comprehensive Income	$	3,313		$	4,441

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENT OF CASH FLOWS

SIX MONTHS ENDED JUNE 30, 2011 AND 2010

(UNAUDITED)

(DOLLARS IN THOUSANDS)

	2011			2010
Cash Flows from Operating Activities
Net Income	$	1,595		$	1,205
Adjustments to Reconcile Net Income to Net Cash Provided from Operating Activities
Depreciation and Amortization		74			104
Equity in Undistributed Earnings of Subsidiary		(2,069	)		(1,631	)
Other		(555	)		(156	)
		(955	)		(478	)
Cash Flows from Investing Activities
Purchases of Premises and Equipment		--			(29	)
		--			(29	)
Cash Flows from Financing Activities
Dividends Paid Preferred Stock		(700	)		(700	)
Dividends Paid Common Stock		--			--
Proceeds from Issuance of Common Stock		--			5,078
		(700	)		4,378
Net Increase (Decrease) in Cash		(1,655	)		3,871
Cash, Beginning		3,173			556
Cash, Ending	$	1,518		$	4,427