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

12 Months Ended

Dec. 31, 2014

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

Balance Sheets

COLONY BANKCORP, INC. (PARENT ONLY)

BALANCE SHEETS

DECEMBER 31

ASSETS

	2014			2013
Cash	$	5,750,652		$	1,422,289
Premises and Equipment, Net		1,199,639			1,272,965
Investment in Subsidiary, at Equity		115,066,948			114,559,866
Other		1,708,380			1,221,285
Total Assets	$	123,725,619		$	118,476,405
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities
Dividends Payable	$	315,000		$	3,119,146
Other		154,307			1,174,020
		469,307			4,293,166
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		28,000,000			28,000,000
Common Stock, Par Value $1; Authorized 20,000,000 Shares, Issued 8,439,258 Shares as of December 31, 2014 and 2013		8,439,258			8,439,258
Paid-In Capital		29,145,094			29,145,094
Retained Earnings		38,287,934			33,444,913
Accumulated Other Comprehensive Loss, Net of Tax		(4,844,974	)		(9,075,026	)
		99,027,312			89,954,239
Total Liabilities and Stockholders’ Equity	$	123,725,619		$	118,476,405

Statements of Operations

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENTS OF OPERATIONS

FOR THE YEARS ENDED DECEMBER 31

	2014			2013		2012
Income
Dividends from Subsidiary	$	12,015,572		$	1,515,549	$	17,372
Management Fees		581,334			581,334		590,422
Other		100,269			96,953		101,397
	$	12,697,175			2,193,836		709,191
Expenses
Interest		517,381			516,641		554,004
Amortization		938			2,250		2,250
Salaries and Employee Benefits		782,152			748,149		735,919
Other		538,847			543,139		558,151
		1,839,318			1,810,179		1,850,324
Income (Loss) Before Taxes and Equity in Undistributed Earnings of Subsidiary		10,857,857			383,657		(1,141,133	)
Income Tax Benefits		396,738			406,518		365,691
Income (Loss) Before Equity in Undistributed Earnings of Subsidiary		11,254,595			790,175		(775,442	)
Equity in Undistributed Earnings of Subsidiary		(3,722,970	)		3,838,870		3,416,740
Net Income		7,531,625			4,629,045		2,641,298
Preferred Stock Dividends		2,688,604			1,508,761		1,435,385
Net Income Available to Common Stockholders	$	4,843,021		$	3,120,284	$	1,205,913

Statements of Comprehensive Income (Loss)

COLONY BANKCORP, INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEARS ENDED DECEMBER 31

	2014			2013			2012
Net Income	$	7,531,625		$	4,629,045		$	2,641,298
Other Comprehensive Income (Loss)
Gains (Losses) on Securities Arising During the Year		6,432,906			(13,886,854	)		(283,076	)
Tax Effect		(2,187,189	)		4,721,531			96,246
Realized Gains (Losses) on Sale of AFS Securities		(23,735	)		(2,819	)		(2,897,032	)
Tax Effect		8,070			959			984,991
Impairment Loss on Securities		-			366,623			59,568
Tax Effect		-			(124,652	)		(20,253	)
Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects		4,230,052			(8,925,212	)		(2,059,556	)
Comprehensive Income (Loss)	$	11,761,677		$	(4,296,167	)	$	581,742

Statements of Cash Flows

COLONY BANKCORP, INC. (PARENT ONLY)

STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31

	2014			2013			2012
Cash Flows from Operating Activities
Net Income	$	7,531,625		$	4,629,045		$	2,641,298
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities
Depreciation and Amortization		75,347			80,711			93,427
Equity in Undistributed Earnings of Subsidiary		3,722,970			(3,838,870	)		(3,416,740	)
Change in Interest Payable		(1,069,695	)		516,641			529,922
Other		(437,115	)		(390,962	)		(405,379	)
		9,823,132			996,565			(557,472	)
Cash Flows from Investing Activities
Purchases of Premises and Equipment		(2,020	)		(68,708	)		-
Cash Flows from Financing Activities
Dividends Paid on Preferred Stock		(5,492,749	)		-			-
Increase (Decrease) in Cash		4,328,363			927,857			(557,472	)
Cash, Beginning		1,422,289			494,432			1,051,904
Cash, Ending	$	5,750,652		$	1,422,289		$	494,432