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

12 Months Ended

Dec. 31, 2011

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

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

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

The parent company's balance sheets as of December 31, 2011 and 2010 and the related statements of operations and comprehensive income (loss) and cash flows for each of the years in the three-year period then ended are as follows:

COLONY BANKCORP, INC. (PARENT ONLY)

BALANCE SHEETS

DECEMBER 31

ASSETS
	2011		2010
Cash	$	1,051,904	$	3,173,061
Premises and Equipment, Net		1,378,395		1,478,045
Investment in Subsidiary, at Equity		118,289,024		112,389,013
Other		437,414		484,008
Total Assets	$	121,156,737	$	117,524,127
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Dividends Payable	$	175,000	$	175,000
Other		139,927		161,544
		314,927		336,544
Subordinated Debt		24,229,000		24,229,000
Stockholders' Equity
Preferred Stock, Stated Value $1,000; Authorized 10,000,000 Shares, Issued 28,000 Shares		27,662,476		27,505,910
Common Stock, Par Value $1; Authorized 20,000,000 Shares, Issued 8,439,258 and 8,442,958Shares as of December 31, 2011 and 2010, Respectively		8,439,258		8,442,958
Paid-In Capital		29,145,094		29,171,087
Retained Earnings		29,456,240		28,479,211
Restricted Stock - Unearned Compensation		-		(40,794	)
Accumulated Other Comprehensive Income, Net of Tax		1,909,742		(599,789	)
		96,612,810		92,958,583
Total Liabilities and Stockholders' Equity	$	121,156,737	$	117,524,127

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENTS OF OPERATIONS

FOR THE YEARS ENDED DECEMBER 31

	2011			2010			2009
Income
Dividends from Subsidiary	$	15,265		$	15,536		$	2,170,827
Management Fees		505,414			455,241			227,620
Other		98,180			119,776			100,157
		618,859			590,553			2,498,604
Expenses
Interest		508,081			516,170			659,456
Amortization		2,250			2,250			2,250
Salaries and Employee Benefits		734,104			761,873			848,076
Goodwill Impairment		-			-			172,029
Other		656,914			807,209			799,924
		1,901,349			2,087,502			2,481,735
Income (Loss) Before Taxes and Equity in Undistributed Earnings of Subsidiary		(1,282,490	)		(1,496,949	)		16,869
Income Tax Benefits		425,605			532,823			608,062
Income (Loss) Before Equity in Undistributed Earnings of Subsidiary		(856,885	)		(964,126	)		624,931
Equity in Undistributed Earnings (Losses) of Subsidiary		3,390,480			1,438,342			(19,808,805	)
Net Income (Loss)		2,533,595			474,216			(19,183,874	)
Preferred Stock Dividends		1,400,000			1,400,000			1,365,000
Net Income (Loss) Available to Common Stockholders	$	1,133,595		$	(925,784	)	$	(20,548,874	)

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEARS ENDED DECEMBER 31

	2011			2010			2009
Net Income (Loss)	$	2,533,595		$	474,216		$	(19,183,874	)
Other Comprehensive Income, Net of Tax
Gains on Securities Arising During the Year		4,439,108			1,227,281			1,257,136
Reclassification Adjustment		(1,929,577	)		(1,727,261	)		(1,733,072	)
Change in Net Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects		2,509,531			(499,980	)		(475,936	)
Comprehensive Income (Loss)	$	5,043,126		$	(25,764	)	$	(19,659,810	)

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31

	2011			2010			2009
Cash Flows from Operating Activities
Net Income (Loss)	$	2,533,595		$	474,216		$	(19,183,874	)
Adjustments to Reconcile Net Income (Loss) to
Net Cash Provided (Used) by Operating Activities
Depreciation and Amortization		112,651			194,918			295,209
Goodwill Impairment		-			-			172,029
Equity in Undistributed (Earnings) Losses of Subsidiary		(3,390,480	)		(1,438,342	)		19,808,805
Other		24,977			(260,318	)		31,634
		(719,257	)		(1,029,526	)		1,123,803
Cash Flows from Investing Activities
Capital Infusion in Subsidiary		-			-			(25,500,000	)
Purchases of Premises and Equipment		(1,900	)		(31,877	)		(119,156	)
		(1,900	)		(31,877	)		(25,619,156	)
Cash Flows from Financing Activities
Dividends Paid on Preferred Stock		(1,400,000	)		(1,400,000	)		(1,190,000	)
Dividends Paid on Common Stock		-			-			(1,760,665	)
Proceeds from Issuance of Common Stock		-			5,078,255			-
Proceeds Allocated to Issuance of Preferred Stock		-			-			27,215,218
Proceeds Allocated to Warrants Issued		-			-			784,782
		(1,400,000	)		3,678,255			25,049,335
Increase (Decrease) in Cash		(2,121,157	)		2,616,852			553,982
Cash, Beginning		3,173,061			556,209			2,227
Cash, Ending	$	1,051,904		$	3,173,061		$	556,209