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

9 Months Ended

Sep. 30, 2011

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

SEPTEMBER 30, 2011 AND DECEMBER 31, 2010

(DOLLARS IN THOUSANDS)

ASSETS	September 30, 2011			December 31, 2010
	(Unaudited)			(Audited)
Cash	$	1,187		$	3,173
Premises and Equipment, Net		1,401			1,478
Investment in Subsidiaries, at Equity		119,052			112,389
Other		856			484
Totals Assets	$	122,496		$	117,524
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Dividends Payable		175		$	175
Other		161			162
		336			337
Subordinated Debt		24,229			24,229
Stockholders' Equity
Preferred Stock, Par Value $1,000 a Share; Authorized 10,000,000Shares, Issued 28,000 Shares as of September 30, 2011		27,623			27,506
Common Stock, Par Value $1 a Share; Authorized 20,000,000Shares, Issued 8,442,258 and 8,442,958 Shares as of September 30, 2011 and December 31, 2010, Respectively		8,442			8,443
Paid-In Capital		29,166			29,171
Retained Earnings		29,466			28,479
Restricted Stock - Unearned Compensation		(10	)		(41	)
Accumulated Other Comprehensive Loss, Net of Tax		3,244			(600	)
		97,931			92,958
Total Liabilities and Stockholders' Equity	$	122,496		$	117,524

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENT OF INCOME

NINE MONTHS ENDED SEPTEMBER 30, 2011 AND 2010

(UNAUDITED)

(DOLLARS IN THOUSANDS)

	SEPTEMBER 30, 2011			SEPTEMBER 30, 2010
Income
Dividends from Subsidiaries	$	11		$	12
Management Fees		379			341
Other		75			91
		465			444
Expenses
Interest		376			389
Salaries and Employee Benefits		563			583
Other		537			572
		1,476			1,544
Income (Loss) Before Taxes and Equity in Undistributed
Earnings of Subsidiaries		(1,011	)		(1,100	)
Income Tax (Benefits)		(345	)		(412	)
Income (Loss) Before Equity in Undistributed
Earnings of Subsidiaries		(666	)		(688	)
Equity in Undistributed Earnings of Subsidiaries		2,819			859
Net Income		2,153			171
Preferred Stock Dividends		1,050			1,050
Net Income (Loss) Available to Common Shareholders	$	1,103		$	(879	)

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENT OF COMPREHENSIVE INCOME

NINE MONTHS ENDED SEPTEMBER 30, 2011 AND 2010

(UNAUDITED)

(DOLLARS IN THOUSANDS)

	SEPTEMBER 30, 2011			SEPTEMBER 30, 2010
Net Income	$	2,153		$	171
Other Comprehensive Income, Net of Tax
Gains on Securities Arising During Year		5,128			3,654
Reclassification Adjustment		(1,284	)		(1,188	)
Change in Net Unrealized Gains on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects		3,844			2,466
Comprehensive Income	$	5,997		$	2,637

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENT OF CASH FLOWS

NINE MONTHS ENDED SEPTEMBER 30, 2011 AND 2010

(UNAUDITED)

(DOLLARS IN THOUSANDS)

	2011			2010
Cash Flows from Operating Activities
Net Income	$	2,153		$	171
Adjustments to Reconcile Net Income to Net Cash Provided from Operating Activities
Depreciation and Amortization		104			160
Equity in Undistributed Earnings of Subsidiary		(2,819	)		(859	)
Other		(372	)		(189	)
		(934	)		(717	)
Cash Flows from Investing Activities
Purchases of Premises and Equipment		(2	)		(30	)
		(2	)		(30	)
Cash Flows from Financing Activities
Dividends Paid Preferred Stock		(1,050	)		(1,050	)
Proceeds from Issuance of Common Stock		--			5,078
		(1,050	)		4,028
Net Increase (Decrease) in Cash		(1,986	)		3,281
Cash, Beginning		3,173			556
Cash, Ending	$	1,187		$	3,837