Financial Information of Colony Bankcorp, Inc (Parent Only)

3 Months Ended

Mar. 31, 2012

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

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

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

The parent company's balance sheets as of March 31, 2012 and December 31, 2011 and the statements of income, comprehensive income and cash flows for the three month period ended March 31, 2012 and 2011 are as follows:

COLONY BANKCORP, INC. (PARENT ONLY)

BALANCE SHEETS

MARCH 31, 2012 AND DECEMBER 31, 2011

(DOLLARS IN THOUSANDS)

ASSETS	March 31, 2012		December 31, 2011
	(Unaudited)		(Audited)
Cash	$	816	$	1,052
Premises and Equipment, Net		1,354		1,378
Investment in Subsidiaries, at Equity		119,357		118,289
Other		600		438
Totals Assets	$	122,127	$	121,157
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Dividends Payable		352	$	175
Other		421		140
		773		315
Subordinated Debt		24,229		24,229
Stockholders' Equity
Preferred Stock, Stated Value $1,000 a Share; Authorized 10,000,000 Shares, Issued 28,000 Shares		27,703		27,663
Common Stock, Par Value $1 a Share; Authorized 20,000,000 Shares, Issued 8,439,258 and 8,439,258 Shares as of March 31, 2012 and December 31, 2011, Respectively		8,439		8,439
Paid-In Capital		29,145		29,145
Retained Earnings		29,604		29,456
Accumulated Other Comprehensive Income, Net of Tax		2,234		1,910
		97,125		96,613
Total Liabilities and Stockholders' Equity	$	122,127	$	121,157

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENT OF INCOME

THREE MONTHS ENDED MARCH 31, 2012 AND 2011

(UNAUDITED)

(DOLLARS IN THOUSANDS)

	MARCH 31, 2012			MARCH 31, 2011
Income
Dividends from Subsidiaries	$	5		$	4
Management Fees		145			126
Other		26			26
		176			156
Expenses
Interest		143			125
Salaries and Employee Benefits		182			193
Other		150			175
		475			493
Income (Loss) Before Taxes and Equity in Undistributed Earnings of Subsidiaries		(299	)		(337	)
Income Tax (Benefits)		(96	)		(103	)
Income (Loss) Before Equity in Undistributed Earnings of Subsidiaries		(203	)		(234	)
Equity in Undistributed Earnings of Subsidiaries		744			1,290
Net Income		541			1,056
Preferred Stock Dividends		352			350
Net Income Available to Common Shareholders	$	189		$	706

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENT OF COMPREHENSIVE INCOME

THREE MONTHS ENDED MARCH 31, 2012 AND 2011

(UNAUDITED)

(DOLLARS IN THOUSANDS)

	MARCH 31, 2012			MARCH 31, 2011
Net Income	$	541		$	1,056
Other Comprehensive Income (Loss), Net of Tax
Gains (Losses) on Securities Arising During Year		415			(554	)
Reclassification Adjustment		(91	)		(261	)
Change in Net Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects		324			(815	)
Comprehensive Income	$	865		$	241

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENT OF CASH FLOWS

THREE MONTHS ENDED MARCH 31, 2012 AND 2011

(UNAUDITED)

(DOLLARS IN THOUSANDS)

	2012			2011
Cash Flows from Operating Activities
Net Income	$	541		$	1,056
Adjustments to Reconcile Net Income to Net Cash Provided from Operating Activities
Depreciation and Amortization		24			37
Equity in Undistributed Earnings of Subsidiary		(744	)		(1,290	)
Other		(57	)		(425	)
		(236	)		(622	)
Cash Flows from Financing Activities
Dividends Paid Preferred Stock		--			(350	)
Proceeds from Issuance of Common Stock		--			--
		--			(350	)
Net Decrease in Cash		(236	)		(972	)
Cash, Beginning		1,052			3,173
Cash, Ending	$	816		$	2,201