cban20170331

Significant Accounting Policies [Text Block]

)

Summary of Significant Accounting Policies

Presentation

All dollars in notes to consolidated financial statements are rounded to the nearest thousand, except for per share amounts.

The consolidated financial statements in this report are unaudited, except for the

December

31,

2016

consolidated balance sheet. All adjustments consisting of normal recurring accruals which are, in the opinion of management, necessary for fair presentation of the interim consolidated financial statements, have been included and fairly and accurately present the financial position, results of operations and cash flows of the Company. The results of operations for the

three

months ended

March

31,

2017

are not necessarily indicative of the results which

may

be expected for the entire year.

Nature of Operations

Use of Estimates

Reclassifications

In certain instances, amounts reported in prior years’ consolidated financial statements have been reclassified to conform to statement presentations selected for

2017.

Such reclassifications have not affected previously reported stockholders’ equity or net income.

Concentrations of Credit Risk

March

31,

2017,

approximately

percent of the Company’s loan portfolio was concentrated in loans secured by real estate. A substantial portion of borrowers’ ability to honor their contractual obligations is dependent upon the viability of the real estate economic sector. Collateral real estate values that secure land development, construction and speculative real estate loans in the Company’s larger Metropolitan Statistical Area (MSA) markets have resulted in high loan loss provisions in recent years. In addition, a large portion of the Company’s foreclosed assets are also located in these same geographic markets, making the recovery of the carrying amount of foreclosed assets susceptible to changes in market conditions. Management continues to monitor these concentrations and has considered these concentrations in its allowance for loan loss analysis.

At times, the Company

may

have cash and cash equivalents at financial institutions in excess of federal deposit insurance limits. The Company places its cash and cash equivalents with high credit quality financial institutions whose credit ratings are monitored by management to minimize credit risk.

Investment Securities

may

be sold to meet liquidity needs arising from unanticipated deposit and loan fluctuations, changes in regulatory capital requirements, or unforeseen changes in market conditions.

Federal Home Loan Bank Stock

Investment in stock of a Federal Home Loan Bank (FHLB) is

required for every federally insured institution that utilizes its services. FHLB stock is considered restricted, as defined in the accounting standards. The FHLB stock is reported in the consolidated financial statements at cost. Dividend income is recognized when earned.

Loans

A loan is considered to be delinquent when payments have not been made according to contractual terms, typically evidenced by nonpayment of a monthly installment by the due date.

When management believes there is sufficient doubt as to the collectability of principal or interest on any loan or generally when loans are

days or more past due, the accrual of applicable interest is discontinued and the loan is designated as nonaccrual, unless the loan is well secured and in the process of collection. Interest payments received on nonaccrual loans are either applied against principal or reported as income, according to management’s judgment as to the collectability of principal. Loans are returned to an accrual status when factors indicating doubtful collectability on a timely basis no longer exist.

Loans Modified in a Troubled Debt Restructuring (TDR)

may

include interest rate reductions, principal or interest forgiveness, forbearance, and other actions intended to minimize economic loss and to avoid foreclosure or repossession of the collateral. Generally, a non-accrual loan that has been modified in a TDR remains on non-accrual status for a period of

months to demonstrate that the borrower is able to meet the terms of the modified loan. However, performance prior to the modification, or significant events that coincide with the modification, are included in assessing whether the borrower can meet the new terms and

may

result in the loan being returned to accrual status at the time of loan modification or after a shorter performance period. If the borrower’s ability to meet the revised payment schedule is uncertain, the loan remains on non-accrual status. Once a loan is modified in a troubled debt restructuring it is accounted for as an impaired loan, regardless of its accrual status, until the loan is paid in full, sold or charged off. A TDR

may

cease being classified as impaired if the loan is subsequently modified at market terms and, has performed according to the modified terms for at least

six

months, and there has not been any prior principal forgiveness on a cumulative basis.

Allowance for Loan

Losses

may

affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective, as it requires estimates that are susceptible to significant revisions as more information becomes available.

(1)

changes in lending policies and procedures, including changes in underwriting standards and collections, charge offs, and recovery practices,

(2)

changes in international, national, regional, and local conditions,

(3)

changes in the nature and volume of the portfolio and terms of loans,

(4)

changes in the experience, depth, and ability of lending management,

(5)

changes in the volume and severity of past due loans and other similar conditions,

(6)

changes in the quality of the organization's loan review system,

(7)

changes in the value of underlying collateral for collateral dependent loans,

(8)

the existence and effect of any concentrations of credit and changes in the levels of such concentrations, and

(9)

the effect of other external factors (i.e. competition, legal and regulatory requirements) on the level of estimated credit losses.

Loans identified as losses by management, internal loan review and/or regulatory agencies are charged off.

third

-party appraisal usually depends on the type of property being evaluated. External appraisals are usually obtained on more complex, income producing properties such as hotels, shopping centers and businesses. Less complex properties such as residential lots, farm land and single family houses

may

be evaluated internally by senior credit administration staff. When the Company does obtain appraisals from external

third

-parties, the values utilized in the impairment calculation are “as is” or current market values. The appraisals, whether prepared internally or externally,

may

utilize a single valuation approach or a combination of approaches including the comparable sales, income and cost approach. Appraised amounts used in the impairment calculation are typically discounted

percent to account for selling and marketing costs, if the repayment of the loan is to come from the sale of the collateral. Although appraisals are not obtained each year on all impaired loans, the collateral values used in the impairment calculations are evaluated quarterly by management. Based on management’s knowledge of the collateral and the current real estate market conditions, appraised values

may

be further discounted to reflect facts and circumstances known to management since the most recent appraisal was performed.

classification of the inputs for determining fair value. Because of the high degree of judgment required in estimating the fair value of collateral underlying impaired loans and because of the relationship between fair value and general economic conditions, we consider the fair value of impaired loans to be highly sensitive to changes in market conditions.

Premises and Equipment

Premises and equipment are recorded at acquisition cost net of accumulated depreciation.

Depreciation is charged to operations over the estimated useful lives of the assets. The estimated useful lives and methods of depreciation are as follows:

Description	Life in Years			Method
Banking Premises	15	-	40	Straight-Line and Accelerated
Furniture and Equipment	5	-	10	Straight-Line and Accelerated

Intangible Assets

Transfers of Financial Assets

Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when

(1)

the assets have been isolated from the Company,

(2)

the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and

(3)

the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

Statement of Cash Flows

Advertising Costs

The Company expenses the cost of advertising in the periods in which those costs are incurred.

Income Taxes

Positions taken in the Company’s tax returns

may

be subject to challenge by the taxing authorities upon examination. Uncertain tax positions are initially recognized in the consolidated financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions are both initially and subsequently measured as the largest amount of tax benefit that is greater than

percent likely of being realized upon settlement with the tax authority, assuming full knowledge of the position and all relevant facts. The Company provides for interest and, in some cases, penalties on tax positions that

may

be challenged by the taxing authorities. Interest expense is recognized beginning in the

first

period that such interest would begin accruing. Penalties are recognized in the period that the Company claims the position in the tax return. Interest and penalties on income tax uncertainties are classified within income tax expense in the consolidated statement of income.

Other Real Estate

Bank-Owned Life Insurance

$15,569

and

$15,419

as of

March

31,

2017

and

December

31,

2016,

respectively.

Comprehensive Income

Off-Balance Sheet Credit Related Financial Instruments

Changes in Accounting Principles and Effects of New Accounting Pronouncements

ASU

2014

09,

Revenue from Contracts with Customers (Topic

606).

The core principle of ASU

2014

is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity is expected to be entitled for those goods or services. ASU

2014

defines a

five

-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates

may

be required within the revenue recognition process than required under existing U.S. GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each performance obligation. ASU

2014

09,

as deferred

one

year by ASU

2015

14,

is effective for the Company in the

first

quarter of fiscal year

2018.

The Company is currently evaluating the impact of the pending adoption of ASU

2014

on the consolidated financial statements.

ASU

2016

01,

Financial Instruments – Overall (Subtopic

825

10):

Recognition and Measurement of Financial Assets and Financial Liabilities.

ASU

2016

01,

among other things, (i) requires equity investments, with certain exceptions, to be measured at fair value with changes in fair value recognized in net income, (ii) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, (iii) eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, (iv) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, (v) requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments, (vi) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements and (viii) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale. ASU

2016

will be effective for the Company on

January

2018.

The Company is currently evaluating the impact of the pending adoption of ASU

2016

on the consolidated financial statements.

ASU

2016

02,

Leases

(Topic

842)

This ASU requires lessees to put most leases on their balance sheets but recognize expenses in the income statement in a manner similar to current accounting treatment. This ASU changes the guidance on sale-leaseback transactions, initial direct costs and lease execution costs, and, for lessors, modifies the classification criteria and the accounting for sales-type and direct financing leases. For public business entities, this ASU is effective for annual periods beginning after

December

15,

2018,

and interim periods therein. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The Company is evaluating the impact of this ASU on its financial statements and disclosures.

ASU

2016

13,

Financial Instruments – Credit Losses

(Topic

326).

This ASU sets forth a “current expected credit loss” (CECL) model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supported forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU is effective for fiscal years beginning after

December

15,

2019,

including interim periods within those fiscal years. The Company is currently assessing the impact of the adoption of this ASU on its consolidated financial statements.

ASU

2016

15,

Statement of Cash Flows (Topic

230)

- Classification of Certain Cash Receipts and Cash Payments.

ASU

2016

provides guidance related to certain cash flow issues in order to reduce the current and potential future diversity in practice. ASU

2016

will be effective for us on

January

2018

and is not expected to have a significant impact on our financial statements.

ASU

2017

08,

Premium Amortization on Purchased Callable Debt Securities.

This ASU shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. Today, entities generally amortize the premium over the contractual life of the security. The new guidance does not change the accounting for purchased callable debt securities held at a discount; the discount continues to be amortized to maturity. ASU No.

2017

is effective for interim and annual reporting periods beginning after

December

15,

2018;

early adoption is permitted. The guidance calls for a modified retrospective transition approach under which a cumulative-effect adjustment will be made to retained earnings as of the beginning of the

first

reporting period in which the guidance is adopted. The Company is currently evaluating the provisions of ASU No.

2017

to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements.

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Note 2 - Investment Securities

3 Months Ended

Mar. 31, 2017

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

(2)

Investment Securities

Investment securities as of

March

31,

2017

and

December

31,

2016

are summarized as follows:

March 31, 2017	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities Available for Sale:
U. S. Government Agencies
Mortgage-Backed	$	342,828	$	109	$	(7,486	)	$	335,451
State, County & Municipal		4,444		35		(23	)		4,456
Corporate Bonds		2,060		-		(35	)		2,025
	$	349,332	$	144	$	(7,544	)	$	341,932

December 31, 2016	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities Available for Sale:
U. S. Government Agencies
Mortgage-Backed	$	326,694	$	76	$	(7,673	)	$	319,097
State, County & Municipal		4,573		18		(30	)		4,561
	$	331,267	$	94	$	(7,703	)	$	323,658

The amortized cost and fair value of investment securities as of

March

31,

2017,

by contractual maturity, are shown hereafter. Expected maturities

may

differ from contractual maturities for certain investments because issuers

may

have the right to call or prepay obligations with or without call or prepayment penalties. This is often the case with mortgage-backed securities, which are disclosed separately in the table below.

	Securities
	Available for Sale
	Amortized Cost		Fair Value

Due In One Year or Less	$	667	$	672
Due After One Year Through Five Years		4,449		4,421
Due After Five Years Through Ten Years		694		712
Due After Ten Years		694		676
	$	6,504	$	6,481

Mortgage-Backed Securities		342,828		335,451
	$	349,332	$	341,932

The Bank did not sell any investments during the

first

three

months of

2017.

Therefore the Bank did

not

have any proceeds, gains or losses during the

first

three

months of

2017.

Proceeds from the sale of investments available for sale totaled

$11,800

for the

first

three

months of

2016.

The sale of investments available for sale during the

first

three

months of

2016

resulted in gross realized gains of

and losses of

$7.

Investment securities having a carrying value approximating

$163,456

and

$144,854

as of

March

31,

2017

and

December

31,

2016,

respectively, were pledged to secure public deposits and for other purposes.

Information pertaining to securities with gross unrealized losses at

March

31,

2017

and

December

31,

2016

aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:

	Less Than 12 Months					12 Months or Greater					Total

			Gross					Gross					Gross
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses

March 31, 2017
U. S. Government Agencies
Mortgage-Backed	$	196,927	$	(3,362	)	$	108,603	$	(4,124	)	$	305,530	$	(7,486	)
State, County and Municipal		2,138		(23	)		-		-			2,138		(23	)
Corporate Bonds		2,025		(35	)		-		-			2,025		(35	)
	$	201,090	$	(3,420	)	$	108,603	$	(4,124	)	$	309,693	$	(7,544	)

December 31. 2016
U.S. Government Agencies
Mortgage-Backed	$	174,201	$	(3,460	)	$	107,482	$	(4,213	)	$	281,683	$	(7,673	)
State, County and Municipal		3,488		(30	)		-		-			3,488		(30	)
	$	177,689	$	(3,490	)	$	107,482	$	(4,213	)	$	285,171	$	(7,703	)

(1)

the length of time and the extent to which the fair value has been less than cost,

(2)

the financial condition and near-term prospects of the issuer and

(3)

the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value.

March

31,

2017,

117

securities have unrealized losses which have depreciated

2.38

percent from the Company’s amortized cost basis. These securities are guaranteed by either the U.S. Government, other governments or U.S. corporations. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred and the results of reviews of the issuer’s financial condition. The unrealized losses are largely due to increases in market interest rates over the yields available at the time the underlying securities were purchased. As management has the ability to hold debt securities until maturity, or for the foreseeable future if classified as available-for-sale,

declines are deemed to be other than temporary.

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Note 3 - Loans

3 Months Ended

Mar. 31, 2017

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

(3)

Loans

The following table presents the composition of loans segregated by class of loans, as of

March

31,

2017

and

December

31,

2016.

	March 31, 2017		December 31, 2016
Commercial and Agricultural
Commercial	$	44,925	$	47,025
Agricultural		19,306		17,080

Real Estate
Commercial Construction		30,540		30,358
Residential Construction		9,367		11,830
Commercial		359,143		349,090
Residential		195,282		195,580
Farmland		64,870		66,877

Consumer and Other
Consumer		19,188		19,695
Other		17,720		16,748

Total Loans	$	760,341	$	754,283

Credit Quality Indicators

. As part of the ongoing monitoring of the credit quality of the loan portfolio, management tracks certain credit quality indicators including trends related to (i) the risk grade assigned to commercial and consumer loans, (ii) the level of classified commercial loans, (iii) net charge-offs, (iv) nonperforming loans, and (v) the general economic conditions in the Company’s geographic markets.

The Company uses a risk grading matrix to assign a risk grade to each of its loans. Loans are graded on a scale of

A description of the general characteristics of the grades is as follows:

●

Grades

and

– Borrowers with these assigned grades range in risk from virtual absence of risk to minimal risk. Such loans

may

be secured by Company-issued and controlled certificates of deposit or properly margined equity securities or bonds. Other loans comprising these grades are made to companies that have been in existence for a long period of time with many years of consecutive profits and strong equity, good liquidity, excellent debt service ability and unblemished past performance, or to exceptionally strong individuals with collateral of unquestioned value that fully secures the loans. Loans in this category fall into the “pass” classification.

●

Grades

and

– Loans assigned these “pass” risk grades are made to borrowers with acceptable credit quality and risk. The risk ranges from loans with no significant weaknesses in repayment capacity and collateral protection to acceptable loans with

one

or more risk factors considered to be more than average.

●

Grade

– This grade includes “special mention” loans on management’s watch list and is intended to be used on a temporary basis for pass grade loans where risk-modifying action is intended in the short-term.

●

Grade

– This grade includes “substandard” loans in accordance with regulatory guidelines. This category includes borrowers with well-defined weaknesses that jeopardize the payment of the debt in accordance with the agreed terms. Loans considered to be impaired are assigned this grade, and these loans often have assigned loss allocations as part of the allowance for loan and lease losses. Generally, loans on which interest accrual has been stopped would be included in this grade.

●

Grades

and

– These grades correspond to regulatory classification definitions of “doubtful” and “loss,” respectively. In practice, any loan with these grades would be for a very short period of time, and generally the Company has no loans with these assigned grades. Management manages the Company’s problem loans in such a way that uncollectible loans or uncollectible portions of loans are charged off immediately with any residual, collectible amounts assigned a risk grade of

The following table presents the loan portfolio by credit quality indicator (risk grade) as of

March

31,

2017

and

December

31,

2016.

Those loans with a risk grade of

have been combined in the pass column for presentation purposes. For the period ending

March

31,

2017,

the Company did

not

have any loans classified as “doubtful” or a “loss”.

March 31, 2017
	Pass		Special Mention		Substandard		Total Loans
Commercial and Agricultural
Commercial	$	42,145	$	1,720	$	1,060	$	44,925
Agricultural		18,316		612		378		19,306

Real Estate
Commercial Construction		28,656		1,307		577		30,540
Residential Construction		9,167		-		200		9,367
Commercial		339,616		8,378		11,149		359,143
Residential		182,896		1,004		11,382		195,282
Farmland		62,990		920		960		64,870

Consumer and Other
Consumer		18,609		181		398		19,188
Other		17,720		-		-		17,720

Total Loans	$	720,115	$	14,122	$	26,104	$	760,341

December 31, 2016
	Pass		Special Mention		Substandard		Total Loans
Commercial and Agricultural
Commercial	$	44,250	$	1,862	$	913	$	47,025
Agricultural		16,586		192		302		17,080

Real Estate
Commercial Construction		28,425		1,349		584		30,358
Residential Construction		11,630		-		200		11,830
Commercial		327,561		9,403		12,126		349,090
Residential		178,618		5,659		11,303		195,580
Farmland		65,075		839		963		66,877

Consumer and Other
Consumer		19,072		226		397		19,695
Other		16,748		-		-		16,748

Total Loans	$	707,965	$	19,530	$	26,788	$	754,283

or below and an outstanding balance of

$250,000

or more are reassessed on a quarterly basis. During this reassessment process individual reserves

may

be identified and placed against certain loans which are not considered impaired.

days past due or when, in management’s opinion, the borrower

may

be unable to meet payment obligations as they become due, as well as when required by regulatory provision. Loans

may

be placed on nonaccrual status regardless of whether or not such loans are considered past due.

The following table represents an age analysis of past due loans and nonaccrual loans, segregated by class of loans, as of

March

31,

2017

and

December

31,

2016:

March 31, 2017
	Accruing Loans
			90 Days
	30-89 Days		or More		Total Accruing		Nonaccrual
	Past Due		Past Due		Loans Past Due		Loans		Current Loans		Total Loans
Commercial and Agricultural
Commercial	$	870	$	-	$	870	$	673	$	43,382	$	44,925
Agricultural		184		-		184		206		18,916		19,306

Real Estate
Commercial Construction		225		-		225		184		30,131		30,540
Residential Construction		-		-		-		-		9,367		9,367
Commercial		1,423		-		1,423		5,749		351,971		359,143
Residential		1,762		-		1,762		3,434		190,086		195,282
Farmland		92		-		92		800		63,978		64,870

Consumer and Other
Consumer		144		-		144		203		18,841		19,188
Other		2		-		2		-		17,718		17,720

Total Loans	$	4,702	$	-	$	4,702	$	11,249	$	744,390	$	760,341

December 31, 2016
	Accruing Loans
			90 Days
	30-89 Days		or More		Total Accruing		Nonaccrual
	Past Due		Past Due		Loans Past Due		Loans		Current Loans		Total Loans
Commercial and Agricultural
Commercial	$	420	$	-	$	420	$	635	$	45,970	$	47,025
Agricultural		33		-		33		209		16,838		17,080

Real Estate
Commercial Construction		54		-		54		190		30,114		30,358
Residential Construction		-		-		-		-		11,830		11,830
Commercial		492		-		492		6,360		342,238		349,090
Residential		3,179		-		3,179		3,944		188,457		195,580
Farmland		95		-		95		800		65,982		66,877

Consumer and Other
Consumer		196		-		196		212		19,287		19,695
Other		-		-		-		-		16,748		16,748

Total Loans	$	4,469	$	-	$	4,469	$	12,350	$	737,464	$	754,283

The following table details impaired loan data as of

March

31,

2017:

March 31, 2017
	Unpaid
	Contractual						Average		Interest		Interest
	Principal		Impaired		Related		Recorded		Income		Income
	Balance		Balance		Allowance		Investment		Recognized		Collected

With No Related Allowance Recorded
Commercial	$	876	$	673	$	-	$	654	$	8	$	8
Agricultural		226		206		-		207		12		12
Commercial Construction		184		184		-		187		1		1
Commercial Real Estate		15,980		15,899		-		15,088		166		164
Residential Real Estate		5,010		4,709		-		4,331		56		58
Farmland		921		800		-		800		1		1
Consumer		203		203		-		207		2		2
Other		-		-		-		-		-		-

		23,400		22,674		-		21,474		246		246

With An Allowance Recorded
Commercial		-		-		-		-		-		-
Agricultural		-		-		-		-		-		-
Commercial Construction		72		72		21		72		1		1
Commercial Real Estate		5,300		4,506		3,051		6,487		17		17
Residential Real Estate		764		757		340		1,112		1		1
Farmland		378		378		27		379		5		5
Consumer		-		-		-		-		-		-
Other		-		-		-		-		-		-

		6,514		5,713		3,439		8,050		24		24

Total
Commercial		876		673		-		654		8		8
Agricultural		226		206		-		207		12		12
Commercial Construction		256		256		21		259		2		2
Commercial Real Estate		21,280		20,405		3,051		21,575		183		181
Residential Real Estate		5,774		5,466		340		5,443		57		59
Farmland		1,299		1,178		27		1,179		6		6
Consumer		203		203		-		207		2		2
Other		-		-		-		-		-		-

	$	29,914	$	28,387	$	3,439	$	29,524	$	270	$	270

The following table details impaired loan data as of

December

31,

2016:

December 31, 2016
	Unpaid
	Contractual						Average		Interest		Interest
	Principal		Impaired		Related		Recorded		Income		Income
	Balance		Balance		Allowance		Investment		Recognized		Collected

With No Related Allowance Recorded
Commercial	$	635	$	635	$	-	$	539	$	24	$	27
Agricultural		229		209		-		210		9		12
Commercial Construction		191		191		-		698		7		7
Commercial Real Estate		14,358		14,276		-		14,275		567		560
Residential Real Estate		4,261		3,952		-		4,553		73		191
Farmland		921		799		-		1,016		22		26
Consumer		212		212		-		213		10		12

		20,807		20,274		-		21,504		712		835

With An Allowance Recorded
Commercial		-		-		-		30		-		-
Agricultural		-		-		-		-		-		-
Commercial Construction		72		72		21		74		1		2
Commercial Real Estate		8,557		8,467		3,022		8,340		239		236
Residential Real Estate		1,476		1,468		363		1,043		28		32
Farmland		380		380		29		384		21		21
Consumer		-		-		-		-		-		-

		10,485		10,387		3,435		9,871		289		291

Total
Commercial		635		635		-		569		24		27
Agricultural		229		209		-		210		9		12
Commercial Construction		263		263		21		772		8		9
Commercial Real Estate		22,915		22,743		3,022		22,615		806		796
Residential Real Estate		5,737		5,420		363		5,596		101		223
Farmland		1,301		1,179		29		1,400		43		47
Consumer		212		212		-		213		10		12

	$	31,292	$	30,661	$	3,435	$	31,375	$	1,001	$	1,126

The following table details impaired loan data as of

March

31,

2016:

March 31, 2016
	Unpaid
	Contractual						Average		Interest			Interest
	Principal		Impaired		Related		Recorded		Income			Income
	Balance		Balance		Allowance		Investment		Recognized			Collected

With No Related Allowance Recorded
Commercial	$	502	$	500	$	-	$	477	$	2		$	3
Agricultural		213		193		-		185		7			10
Commercial Construction		466		466		-		1,182		4			3
Commercial Real Estate		10,439		9,992		-		12,557		89			93
Residential Real Estate		5,209		4,288		-		4,432		52			48
Farmland		1,328		1,327		-		1,215		(4	)		-
Consumer		207		195		-		187		1			4

		18,364		16,961		-		20,235		151			161

With An Allowance Recorded
Commercial		29		28		4		76		-			-
Agricultural		-		-		-		-		-			-
Commercial Construction		75		75		24		76		-			-
Commercial Real Estate		7,279		7,265		1,940		8,110		50			52
Residential Real Estate		971		964		528		1,019		1			1
Farmland		386		386		35		387		5			5
Consumer		-		-		-		-		-			-

		8,740		8,718		2,531		9,668		56			58

Total
Commercial		531		528		4		553		2			3
Agricultural		213		193		-		185		7			10
Commercial Construction		541		541		24		1,258		4			3
Commercial Real Estate		17,718		17,257		1,940		20,667		139			145
Residential Real Estate		6,180		5,252		528		5,451		53			49
Farmland		1,714		1,713		35		1,602		1			5
Consumer		207		195		-		187		1			4

	$	27,104	$	25,679	$	2,531	$	29,903	$	207		$	219

●

Interest rate reductions – Occur when the stated interest rate is reduced to a nonmarket rate or a rate the borrower would not be able to obtain elsewhere under similar circumstances.

●

Principal reductions – These are often the result of commercial real estate loan workouts where

two

new notes are created. The primary note is underwritten based upon our normal underwriting standards and is structured so that the projected cash flows are sufficient to repay the contractual principal and interest of the newly restructured note. The terms of the

secondary

note vary by situation and often involve that note being charged-off, or the principal and interest payments being deferred until after the primary note has been repaid. In situations where a portion of the note is charged-off during modification there is often no specific reserve allocated to those loans. This is due to the fact that the amount of the charge-off usually represents the excess of the original loan balance over the collateral value and the Company has determined there is no additional exposure on those loans.

As discussed in Note

Summary of Significant Accounting Policies, once a loan is identified as a TDR, it is accounted for as an impaired loan. The Company had

unfunded commitments to lend to a customer that has a troubled debt restructured loan as of

March

31,

2017.

The following tables present the number of loan contracts restructured during the

three

month period ended

March

31,

2017

and

2016.

It shows the pre- and post-modification recorded investment as well as the number of contracts and the recorded investment for those TDRs modified during the previous

twelve

months which subsequently defaulted during the period. Loans modified in a troubled debt restructuring are considered to be in default once the loan becomes

days past due. A TDR

may

cease being classified as impaired if the loan is subsequently modified at market terms and, has performed according to the modified terms for at least

six

months, and there has not been any prior principal forgiveness on a cumulative basis.

Three Months Ended March 31, 2017

Troubled Debt Restructurings

# of Contracts

Pre-Modification

Post-Modification

Residential Real Estate

Total Loans

	Three Months Ended March 31, 2016
Troubled Debt Restructurings
	# of Contracts		Pre-Modification		Post-Modification

Residential Real Estate		1	$	91	$	91

Total Loans		1	$	91	$	91

The company did

not

have any TDRs that subsequently defaulted for the

three

months ended

March

31,

2017.

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

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Note 4 - Allowance for Loan Losses

3 Months Ended

Mar. 31, 2017

Allowance for Credit Losses [Text Block]

(

) Allowance for Loan Losses

The following tables detail activity in the allowance for loan losses, segregated by class of loan, for the

three

month period ended

March

31,

2017

and

March

31,

2016.

Allocation of a portion of the allowance to

one

category of loans does not preclude its availability to absorb losses in other loan categories and periodically

may

result in reallocation within the provision categories.

March 31, 2017
	Beginning										Ending
	Balance		Charge-Offs			Recoveries		Provision			Balance

Commercial and Agricultural
Commercial	$	456	$	(4	)	$	79	$	(128	)	$	403
Agricultural		168		-			1		20			189

Real Estate
Commercial Construction		323		-			162		(183	)		302
Residential Construction		13		-			-		(3	)		10
Commercial		5,751		(852	)		247		773			5,919
Residential		1,396		(15	)		15		(160	)		1,236
Farmland		722		-			-		(13	)		709

Consumer and Other
Consumer		80		(46	)		19		28			81
Other		14		-			-		1			15

	$	8,923	$	(917	)	$	523	$	335		$	8,864

March 31, 2016
	Beginning										Ending
	Balance		Charge-Offs			Recoveries		Provision			Balance

Commercial and Agricultural
Commercial	$	855	$	(169	)	$	12	$	(144	)	$	554
Agricultural		203		(22	)		1		10			192

Real Estate
Commercial Construction		691		-			804		(685	)		810
Residential Construction		20		-			-		-			20
Commercial		3,851		(248	)		168		1,475			5,246
Residential		1,990		(63	)		14		(136	)		1,805
Farmland		912		-			125		(234	)		803

Consumer and Other
Consumer		63		(49	)		15		72			101
Other		19		-			3		(4	)		18

	$	8,604	$	(551	)	$	1,142	$	354		$	9,549

During the

first

quarter of

2016

Company management implemented a change to its allowance for loan loss methodology by expanding the historical loss period from a rolling

quarters to

quarters. Management believes the longer historical loss period better reflects the current and expected loss behavior of the loan portfolio within the current credit cycle. The transition to a rolling

quarter loss period was completed in the

first

quarter of

2017.

As of

March

31,

2017,

this change in the historical loss period resulted in an increase to the allowance for loan losses of

$575,000.

The Company determines its individual reserves during its quarterly review of substandard loans. This process involves reviewing all loans with a risk grade of

or greater and an outstanding balance of

$250,000

or more, regardless of the loans impairment classification. At

March

31,

2017,

there were

161

impaired loans totaling

$4.3

million below the

$250,000

review threshold which were not individually reviewed for impairment. Those loans were subject to the bank’s general loan loss reserve methodology and are included in the “Collectively Evaluated for Impairment” column of the following tables. Likewise, at

March

31,

2016,

there were

156

impaired loans totaling

$3.6

million which were below the

$250,000

review threshold and were subject to the bank’s general loan loss reserve methodology and are included in the “Collectively Evaluated for Impairment” column of the following tables.

Since not all loans in the substandard category are considered impaired, this quarterly review process

may

result in the identification of specific reserves on unimpaired loans. Management considers those loans graded substandard, but not classified as impaired, to be higher risk loans and, therefore, makes specific allocations to the allowance for those loans if warranted. The total of such loans is

$10.16

million and

$17.84

million as of

March

31,

2017

and

2016,

respectively. Specific allowance allocations were made for these loans totaling

$802

thousand and

$1.17

million as of

March

31,

2017

and

2016,

respectively. Since these loans are not considered impaired, both the loan balance and related specific allocation are included in the “Collectively Evaluated for Impairment” column of the following tables.

The following tables present breakdowns of the allowance for loan losses, segregated by impairment methodology for

March

31,

2017

and

2016:

March 31, 2017
	Ending Allowance Balance						Ending Loan Balance

	Individually		Collectively				Individually		Collectively
	Evaluated for		Evaluated for				Evaluated for		Evaluated for
	Impairment		Impairment		Total		Impairment		Impairment		Total
Commercial and Agricultural
Commercial	$	-	$	403	$	403	$	-	$	44,925	$	44,925
Agricultural		-		189		189		5		19,301		19,306

Real Estate
Commercial Construction		21		281		302		72		30,468		30,540
Residential Construction		-		10		10		-		9,367		9,367
Commercial		3,051		2,868		5,919		19,865		339,278		359,143
Residential		340		896		1,236		3,102		192,180		195,282
Farmland		27		682		709		1,042		63,828		64,870

Consumer and Other
Consumer		-		81		81		-		19,188		19,188
Other		-		15		15		-		17,720		17,720

Total End of Period Balance	$	3,439	$	5,425	$	8,864	$	24,086	$	736,255	$	760,341

March 31, 2016
	Ending Allowance Balance						Ending Loan Balance

	Individually		Collectively				Individually		Collectively
	Evaluated for		Evaluated for				Evaluated for		Evaluated for
	Impairment		Impairment		Total		Impairment		Impairment		Total
Commercial and Agricultural
Commercial	$	4	$	550	$	554	$	37	$	45,078	$	45,115
Agricultural		-		192		192		-		18,562		18,562

Real Estate
Commercial Construction		24		786		810		389		35,581		35,970
Residential Construction		-		20		20		-		9,849		9,849
Commercial		1,940		3,306		5,246		16,918		330,454		347,372
Residential		528		1,277		1,805		3,370		192,309		195,679
Farmland		35		768		803		1,401		64,884		66,285

Consumer and Other
Consumer		-		101		101		-		19,661		19,661
Other		-		18		18		-		15,768		15,768

Total End of Period Balance	$	2,531	$	7,018	$	9,549	$	22,115	$	732,146	$	754,261

XML 21 R11.htm IDEA: XBRL DOCUMENT

Note 5 - Other Real Estate Owned

3 Months Ended

Mar. 31, 2017

Real Estate Owned [Text Block]

)

Other Real Estate Owned

The aggregate carrying amount of Other Real Estate Owned (OREO) at

March

31,

2017

and

December

31,

2016

was

$5,899

and

$6,439,

respectively. All of the Company’s other real estate owned represents properties acquired through foreclosure or deed in lieu of foreclosure. The following table details the change in OREO for the

three

months ended

March

31,

2017

and the year ended

December

31,

2016.

	Three Months Ended			Twelve Months Ended
	March 31, 2017			December 31, 2016

Balance, Beginning	$	6,439		$	8,839

Additions		219			5,664
Sales of OREO		(738	)		(7,416	)
Gains (Losses) on Sale		35			(146	)
Provision for Losses		(56	)		(502	)

Balance, Ending	$	5,899		$	6,439

March

31,

2017,

the Company held

$496

thousand of residential real estate property as foreclosed property compared to

$431

thousand as of

December

31,

2016.

Also at

March

31,

2017,

$307

thousand of consumer mortgage loans collateralized by residential real estate property were in the process of foreclosure according to local requirements of the applicable jurisdictions. At

December

31,

2016,

only

$204

thousand of consumer mortgage loans collateralized by residential real estate property were in the process of foreclosure according to local requirements of the applicable jurisdictions.

The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 40
-Section 40
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=84176060&loc=d3e18551-111553

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 45
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
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-Subparagraph (SX 210.5-04(c)(Schedule III))
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-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

+ Details

XML 22 R12.htm IDEA: XBRL DOCUMENT

Note 6 - Deposits

3 Months Ended

Mar. 31, 2017

Deposit Liabilities Disclosures [Text Block]

) Deposits

The aggregate amount of overdrawn deposit accounts reclassified as loan balances totaled

$430

and

$414

as of

March

31,

2017

and

December

31,

2016.

Components of interest-bearing deposits as of

March

31,

2017

and

December

31,

2016

are as follows:

	Three Months Ended		Twelve Months Ended
	March 31, 2017		December 31, 2016

Interest-Bearing Demand	$	450,391	$	448,004
Savings		74,718		70,066
Time, $250,000 and Over		28,805		32,168
Other Time		331,730		335,060
	$	885,644	$	885,298

March

31,

2017

and

December

31,

2016,

the Company had brokered deposits of

$50,600

and

$49,303,

respectively. All of these brokered deposits represent Certificate of Deposits Account Registry Service (CDARS) reciprocal deposits. The CDARS deposits are

ones

in which customers placed core deposits into the CDARS program for FDIC insurance coverage and the Company receives reciprocal brokered deposits in a like amount. The aggregate amount of short-term jumbo certificates of deposit, each with a minimum denomination of

$250,000

was approximately

$23,771

and

$25,446

as of

March

31,

2017

and

December

31,

2016,

respectively. The aggregate amount of certificates of deposit, each with a minimum deposit of

$250,000

was

$28,805

and

$32,168

as of

March

31,

2017

and

December

31,

2016.

As of

March

31,

2017

and

December

31,

2016,

the scheduled maturities of certificates of deposits are as follows:

Maturity	March 31, 2017		December 31, 2016
One Year and Under	$	254,384	$	256,886
One to Three Years		84,652		85,794
Three Years and Over		21,499		24,548
	$	360,535	$	367,228

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Note 7 - Other Borrowed Money

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Text Block]

(

) Other Borrowed Money

Other borrowed money at

March

31,

2017

and

December

31,

2016

is summarized as follows:

	March 31, 2017		December 31, 2016
Federal Home Loan Bank Advances	$	46,000	$	46,000
Other Borrowings		5,008		-
	$	51,008	$	46,000

Advances from the Federal Home Loan Bank (FHLB) have maturities ranging from

2018

2026

and interest rates ranging from

0.98

percent to

3.51

percent. As collateral on the outstanding FHLB advances, the Company has provided a blanket lien on its portfolio of qualifying residential

first

mortgage loans and commercial loans. At

March

31,

2017

the book value of those loans pledged is

$104,341.

March

31,

2017

the Company had remaining credit availability from the FHLB of

$256,167.

The Company

may

be required to pledge additional qualifying collateral in order to utilize the full amount of the remaining credit line.

The Company borrowed

$5,000

as a short term loan to be paid off within

one

year with an interest rate of

4.75

percent.

The aggregate stated maturities of other borrowed money at

March

31,

2017

are as follows:

Year	Amount
2018	$	7,508
2019		5,000
2020		2,500
After 2020	$	36,000
	$	51,008

The Company also has available federal funds lines of credit with various financial institutions totaling

$43,500,

none of which were outstanding at

March

31,

2017.

March

31,

2017,

the Company had borrowing capacity available under this arrangement, with no outstanding balances. The Company would be required to pledge certain available-for-sale investment securities as collateral under this agreement.

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Note 8 - Preferred Stock and Warrants	3 Months Ended
Note 8 - Preferred Stock and Warrants	Mar. 31, 2017
Notes to Financial Statements
Preferred Stock And Warrants [Text Block]	( 8 ) Preferred Stock and Warrants The Company redeemed 9,360 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the Preferred Stock) outstanding with private investors as of March 31, 2017. The Company redeemed 8,661 shares of Preferred Stock at $1,000 per share in 2016. The Company redeemed 9,979 shares of Preferred Stock at $1,000 per share during 2015. The Company currently has no outstanding shares of Preferred Stock. The Company also had a warrant (the Warrant) to purchase up to 500,000 shares of the Company’s common stock outstanding with private investors. Both the Preferred Stock and the Warrant originated in 2009 through transactions with the United States Department of the Treasury and were subsequently sold to the public through an auction process during 2013. The Preferred Stock qualified as Tier 1 capital and was nonvoting, other than class voting rights on certain matters that could adversely affect the Preferred Stock. The Preferred Stock could have been redeemed by the Company at the liquidation preference of $1,000 per share, plus any accrued and unpaid dividends. The Warrant could be exercised on or before January 9, 2019 at an exercise price of $8.40 per share. No voting rights could have been exercised with respect to the shares of the Warrant until the Warrant was exercised.

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Note 9 - Subordinated Debentures (Trust Preferred Securities)

3 Months Ended

Mar. 31, 2017

Subordinated Borrowings Disclosure [Text Block]

(

) Subordinated Debentures (Trust Preferred Securities)

3 Month

Added

Total

5 Year

Description

Date

Amount

Libor Rate

Points

Rate

Maturity

Call Option

Colony Bankcorp Statutory Trust III

6/17/2004

4,640

1.14817

2.68

3.82817

6/14/2034

6/17/2009

Colony Bankcorp Capital Trust I

4/13/2006

5,155

1.14678

1.50

2.64678

4/13/2036

4/13/2011

Colony Bankcorp Capital Trust II

3/12/2007

9,279

1.15222

1.65

2.80222

3/12/2037

3/12/2012

Colony Bankcorp Capital Trust III

9/14/2007

5,155

1.03900

1.40

2.43900

9/14/2037

9/14/2012

The Trust Preferred Securities are recorded as subordinated debentures on the consolidated balance sheets, but subject to certain limitations, qualify as Tier

Capital for regulatory capital purposes. The proceeds from the offerings were used to fund certain acquisitions, pay off holding company debt and inject capital into the bank subsidiary.

The Trust Preferred Securities pay interest quarterly.

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Note 10 - Commitments and Contingencies

3 Months Ended

Mar. 31, 2017

Commitments and Contingencies Disclosure [Text Block]

) Commitments and Contingencies

Credit-Related Financial Instruments

The Company is a party to credit related financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit and commercial letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets.

may

include cash or cash equivalents, negotiable instruments, real estate, accounts receivable, inventory, oil, gas and mineral interests, property, plant, and equipment.

March

31,

2017

and

December

31,

2016

the following financial instruments were outstanding whose contract amounts represent credit risk:

	Contract Amount
	March 31, 2017		December 31, 2016

Loan Commitments	$	95,025	$	71,359
Letters of Credit		1,491		1,551

may

require payment of a fee. The

commitments for equity lines of credit

may

expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if it is deemed necessary by the Company, is based on management’s credit evaluation of the customer.

may

not be drawn upon to the total extent to which the Company is committed.

Standby and performance letters of credit are conditional lending commitments issued by the Company to guarantee the performance of a customer to a

third

party. Those letters of credit are primarily issued to support public and private borrowing arrangements. Essentially all letters of credit issued have expiration dates within

one

year. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers.

gal

Contingencies

. In the ordinary course of business, there are various legal proceedings pending against the Company and the Bank. The aggregate liabilities, if any, arising from such proceedings would not, in the opinion of management, have a material adverse effect on the Company’s consolidated financial position.

XML 27 R17.htm IDEA: XBRL DOCUMENT

Note 11 - Fair Value of Financial Instruments and Fair Value Measurements

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Text Block]

(11

) Fair Value of Financial Instruments

and Fair Value Measurements

Generally accepted accounting principles related to Fair Value Measurements define fair value, establish a framework for measuring fair value, establish a

three

-level valuation hierarchy for disclosure of fair value measurement and enhance disclosure requirements for fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The

three

levels are defined as follows:

●	Level 1	inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

●	Level 2	inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

●	Level 3	inputs to the valuation methodology are unobservable and represent the Company’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities.

Cash and Short-Term Investments

– For cash, due from banks, bank-owned deposits and federal funds sold, the carrying amount is a reasonable estimate of fair value and is classified as Level

Investment Securities

– Fair values for investment securities are based on quoted market prices where available and classified as Level

If quoted market prices are not available, estimated fair values are based on quoted market prices of comparable instruments and classified as Level

If a comparable is not available, the investment securities are classified as Level

Federal Home Loan Bank Stock

– The fair value of Federal Home Loan Bank stock approximates carrying value and is classified as Level

Loans

– The fair value of fixed rate loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings. For variable rate loans, the carrying amount is a reasonable estimate of fair value. Most loans are classified as Level

but impaired loans with a related allowance are classified as Level

Bank-Owned Life Insurance –

The carrying value of bank-owned life insurance policies approximates fair value and is classified as Level

Deposit Liabilities

– The fair value of demand deposits, savings accounts and certain money market deposits is the amount payable on demand at the reporting date and is classified as Level

The fair value of fixed maturity certificates of deposit is estimated by discounting the future cash flows using the rates currently offered for deposits of similar remaining maturities and is classified as Level

Subordinated Debentures

– The fair value of subordinated debentures is estimated by discounting the future cash flows using the current rates at which similar advances would be obtained. Subordinate Debentures are classified as Level

Other Borrowed Money

– The fair value of other borrowed money is calculated by discounting contractual cash flows using an estimated interest rate based on current rates available to the Company for debt of similar remaining maturities and collateral terms. Other borrowed money is classified as Level

due to their expected maturities.

The carrying amount, estimated fair values, and placement in the fair value hierarchy of the Company’s financial instruments as of

March

31,

2017

and

December

31,

2016

are as follows:

	Fair Value Measurements at March 31, 2017
	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3

Assets
Cash and Short-Term Investments	$	50,662	$	50,662	$	50,662	$	-	$	-
Investment Securities Available for Sale		341,932		341,932		-		341,355		577
Federal Home Loan Bank Stock		3,043		3,043		3,043		-		-
Loans, Net		751,056		751,236		-		748,962		2,274
Bank-Owned Life Insurance		15,569		15,569		15,569		-		-

Liabilities
Deposits		1,044,321		1,044,542		683,696		360,846		-
Subordinated Debentures		24,229		24,229		-		24,229		-
Other Borrowed Money		51,008		51,213		-		51,213		-

	Fair Value Measurements at December 31, 2016
	Carrying		Estimated		Level		Level		Level
	Value		Fair Value			1		2		3

Assets
Cash and Short-Term Investments	$	75,167	$	75,167	$	75,167	$	-	$	-
Investment Securities Available for Sale		323,658		323,658		-		323,082		576
Federal Home Loan Bank Stock		3,010		3,010		3,010		-		-
Loans, Net		744,999		745,240		-		738,288		6,952
Bank-Owned Life Insurance		15,419		15,419		15,419		-		-

Liabilities
Deposits		1,044,357		1,045,726		677,129		368,597		-
Subordinated Debentures		24,229		24,229		-		24,229		-
Other Borrowed Money		46,000		46,232		-		46,232		-

one

time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on many judgments. These estimates are subjective in nature and involve uncertainties and

matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Assets

Securities

– Where quoted prices are available in an active market, securities are classified within level

of the valuation hierarchy. Level

inputs include securities that have quoted prices in active markets for identical assets. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flow. Examples of such instruments, which would generally be classified within level

of the valuation hierarchy, include certain collateralized mortgage and debt obligations and certain high-yield debt securities. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within level

of the valuation hierarchy. When measuring fair value, the valuation techniques available under the market approach, income approach and/or cost approach are used. The Company’s evaluations are based on market data and the Company employs combinations of these approaches for its valuation methods depending on the asset class.

Impaired Loans

– Impaired loans are those loans which the Company has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent

third

-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These assets are included as Level

fair values, based upon the lowest level of input that is significant to the fair value measurements.

Other Real Estate

– Other real estate owned assets are adjusted to fair value less estimated selling costs upon transfer of the loans to other real estate owned. Typically, an external,

third

-party appraisal is performed on the collateral upon transfer into the other real estate owned account to determine the asset’s fair value. Subsequent adjustments to the collateral’s value

may

be based upon either updated

third

-party appraisals or management’s knowledge of the collateral and the current real estate market conditions. Appraised amounts used in determining the asset’s fair value, whether internally or externally prepared, are discounted

percent to account for selling and marketing costs. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a level

classification of the inputs for determining fair value. Because of the high degree of judgment required in estimating the fair value of other real estate owned assets and because of the relationship between fair value and general economic conditions, we consider the fair value of other real estate owned assets to be highly sensitive to changes in market conditions.

Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis –

The following table presents the recorded amount of the Company’s assets measured at fair value on a recurring and nonrecurring basis as of

March

31,

2017

and

December

31,

2016,

aggregated by the level in the fair value hierarchy within which those measurements fall. The table below includes only impaired loans with a specific reserve and only other real estate properties with a valuation allowance at

March

31,

2017.

Those impaired loans and other real estate properties are shown net of the related specific reserves and valuation allowances.

			Fair Value Measurements at Reporting Date Using
			Quoted Prices in				Significant
			Active Markets for		Significant Other		Unobservable
	Total Fair		Identical Assets		Observable		Inputs
March 31, 2017	Value		(Level 1)		Inputs (Level 2)		(Level 3)

Recurring Securities Available for Sale
U.S. Government Agencies
Mortgage-Backed	$	335,451	$	-	$	335,451	$	-
State, County and Municipal		4,456		-		3,879		577
Corporate Bonds		2,025				2,025		-
	$	341,932	$	-	$	341,355	$	577

Nonrecurring
Impaired Loans	$	2,274	$	-	$	-	$	2,274

Other Real Estate	$	2,231	$	-	$	-	$	2,231

			Fair Value Measurements at Reporting Date Using
			Quoted Prices in				Significant
			Active Markets for		Significant Other		Unobservable
	Total Fair		Identical Assets		Observable		Inputs
December 31, 2016	Value		(Level 1)		Inputs (Level 2)		(Level 3)

Recurring Securities Available for Sale
U.S. Government Agencies
Mortgage-Backed	$	319,097	$	-	$	319,097	$	-
State, County and Municipal		4,561		-		3,985		576
	$	323,658	$	-	$	323,082	$	576

Nonrecurring
Impaired Loans	$	6,952	$	-	$	-	$	6,952

Other Real Estate	$	2,505	$	-	$	-	$	2,505

Liabilities

The Company did not identify any liabilities that are required to be presented at fair value.

Fair Value Measurements Using Significant Unobservable Inputs (Level

The following table presents quantitative information about the significant unobservable inputs used in the fair value measurements for assets in level

of the fair value hierarchy measured on a nonrecurring basis at

March

31,

2017

and

December

31,

2016.

This table is comprised primarily of collateral dependent impaired loans and other real estate owned:

			Valuation	Unobservable	Range
	March 31, 2017		Techniques	Inputs	Weighted Avg

Real Estate
Commercial Construction	$	51	Sales Comparison	Adjustment for Differences	(5.00)%	-	99.00%
				Between the Comparable Sales		47.00%

				Management Adjustments for	0.00%	-	10.00 %
				Age of Appraisals and/or Current		5.00%
				Market Conditions

Residential Real Estate		417	Sales Comparison	Adjustment for Differences	(22.00 )%	-	0.00%
				Between the Comparable Sales		(11.00)%

				Management Adjustments for	0.00%	-	40.00 %
				Age of Appraisals and/or Current		20.00%
				Market Conditions

Commercial Real Estate		1,455	Sales Comparison	Management Adjustments for	0.00%	-	100.00 %
				Age of Appraisals and/or Current		50.00%
				Market Conditions

			Income Approach	Capitalization Rate		10.00%

Farmland		351	Sales Comparison	Adjustment for Differences	(27.00 )%	-	15.00%
				Between the Comparable Sales		(6.00 )%

				Management Adjustments for	10.00%	-	75.00 %
				Age of Appraisals and/or Current		42.50%
				Market Conditions

Other Real Estate Owned		2,231	Sales Comparison	Adjustment for Differences	(50.80 )%	-	302.00%
				Between the Comparable Sales		125.60%

				Management Adjustments for	6.25%	-	81.26 %
				Age of Appraisals and/or Current		33.47%
				Market Conditions

			Income Approach	Discount Rate		12.50%

			Valuation	Unobservable	Range
	December 31, 2016		Techniques	Inputs	Weighted Avg

Real Estate
Commercial Construction	$	51	Sales Comparison	Adjustment for Differences	(5.00)%	-	99.00%
				Between the Comparable Sales		47.00%

				Management Adjustments for	0.00%	-	10.00%
				Age of Appraisals and/or Current		5.00%
				Market Conditions

Residential Real Estate		1,105	Sales Comparison	Adjustment for Differences	(22.00)%	-	0.00%
				Between the Comparable Sales		(11.00)%

				Management Adjustments for	0.00%	-	40.00%
				Age of Appraisals and/or Current		20.00%
				Market Conditions

Commercial Real Estate		5,445	Sales Comparison	Adjustment for differences	(14.08)%	-	24.62%
				Between the comparable Sales		5.27%

				Management Adjustments for	0.00%	-	100.00%
				Age of Appraisals and/or Current		50.00%
				Market Conditions

			Income Approach	Capitalization Rate		10.67%

Farmland		351	Sales Comparison	Adjustment for Differences	(27.00)%	-	15.00%
				Between the Comparable Sales		(6.00)%

				Management Adjustments for	10.00%	-	75.00%
				Age of Appraisals and/or Current		42.50%
				Market Conditions

Other Real Estate Owned		2,505	Sales Comparison	Adjustment for Differences	(50.80)%	-	316.00%
				Between the Comparable Sales		132.60%

				Management Adjustment for	6.25%	-	76.92%
				Age of Appraisals and/or Current		36.31%
				Market Conditions

			Income Approach	Discount Rate		12.50%

for the

three

months ended

March

31,

2017

and the

twelve

months ended

December

31,

2016.

	Available for Sale Securities
	March 31, 2017		December 31, 2016

Balance, Beginning	$	576	$	930
Transfers out of Level 3		-		-
Maturities				(330	)
Loss on OTTI Impairment Included in Noninterest Income		-		-
Unrealized Gains included in Other Comprehensive Income (Loss)		1		(24	)


Balance, Ending	$	577	$	576

The Company’s policy is to recognize transfers in and transfers out of levels

and

as of the end of a reporting period. There were no transfers of securities between levels for the

three

months ended

March

31,

2017

and the

twelve

months ended

December

31,

2016.

The following table presents quantitative information about recurring level

fair value measurements as of

March

31,

2017.

	Fair Value		Valuation Techniques	Unobservable Inputs	Range Weighted Avg

State, County and Municipal	$	577	Discounted Cash Flow	Discount Rate		N/A*

* The Company relies on a

third

-party pricing service to value its municipal securities. The details of the unobservable inputs and other adjustments used by the

third

-party pricing service were not readily available to the Company.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

XML 28 R18.htm IDEA: XBRL DOCUMENT

Note 12 - Regulatory Capital Matters

3 Months Ended

Mar. 31, 2017

Regulatory Capital Requirements under Banking Regulations [Text Block]

(

) Regulatory Capital Matters

The amount of dividends payable to the parent company from the subsidiary bank is limited by various banking regulatory agencies. Upon approval by regulatory authorities, the Bank

may

pay cash dividends to the parent company in excess of regulatory limitations.

Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios of total and Tier

capital to risk-weighted assets, and of Tier

capital to average assets. As of

March

31,

2017,

the interim final Basel III rules (Basel III) require the Company to also maintain minimum amounts and ratios of common equity Tier

capital to risk-weighted assets. These amounts and ratios as defined in regulations are presented hereafter. Management believes, as of

March

31,

2017,

the Company meets all capital adequacy requirements to which it is subject under the regulatory framework for prompt corrective action. In the opinion of management, there are no events or conditions since prior notification of capital adequacy from the regulators that have changed the institution’s category.

The Basel III rules also require the implementation of a new capital conservation buffer comprised of common equity Tier

capital. The capital conservation buffer will be phased in beginning

January

2016

0.625%

of risk-weighted assets and increase each subsequent year by

0.625%

until reaching its final level of

2.5%

January

2019.

The following table summarizes regulatory capital information as of

March

31,

2017

and

December

31,

2016

on a consolidated basis and for the subsidiary, as defined. Regulatory capital ratios for

March

31,

2017

and

December

31,

2016

were calculated in accordance with the Basel III rules.

											To Be Well
											Capitalized Under
						For Capital					Prompt Corrective
	Actual					Adequacy Purposes					Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
As of March 3 1 , 201 7

Total Capital to Risk-Weighted Assets
Consolidated	$	123,052		15.39	%	$	63,981		8.00	%		N/A		N/A
Colony Bank		125,211		15.68			63,894		8.00		$	79,867		10.00	%

Tier I Capital to Risk-Weighted Assets
Consolidated		114,188		14.28			47,986		6.00			N/A		N/A
Colony Bank		116,347		14.57			47,920		6.00			63,894		8.00

Common Equity Tier I Capital to Risk-Weighted Assets
Consolidated		90,688		11.34			35,989		4.50			N/A		N/A
Colony Bank		116,347		14.57			35,940		4.50			51,914		6.50

Tier I Capital to Average Assets
Consolidated		114,188		9.47			48,229		4.00			N/A		N/A
Colony Bank		116,347		9.66			48,161		4.00			60,201		5.00

	Actual					For Capital Adequacy Purposes					To Be Well Capitalized Under Prompt Corrective Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
As of December 31, 2016

Total Capital to Risk-Weighted Assets
Consolidated	$	130,785		16.64	%	$	62,880		8.00	%		N/A		N/A
Colony Bank		127,646		16.26			62,796		8.00		$	78,495		10.00	%

Tier 1 Capital to Risk-Weighted Assets
Consolidated		121,862		15.50			47,160		6.00			N/A		N/A
Colony Bank		118,723		15.12			47,097		6.00			62,796		8.00

Common Equity Tier 1 Capital to Risk-Weighted Assets
Consolidated		89,002		11.32			35,370		4.50			N/A		N/A
Colony Bank		118,723		15.12			35,323		4.50			51,022		6.50

Tier 1 Capital to Average Assets
Consolidated		121,862		10.29			47,368		4.00			N/A		N/A
Colony Bank		118,723		10.04			47,290		4.00			59,113		5.00

The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1G
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958577-112826

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1C
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958572-112826

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1E
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958574-112826

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1H
-URI http://asc.fasb.org/extlink&oid=84167132&loc=d3e65071-112826

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958569-112826

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958570-112826

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1F
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958575-112826

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958568-112826

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1D
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958573-112826

+ Details

XML 29 R19.htm IDEA: XBRL DOCUMENT

Note 13 - Earnings Per Share

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Text Block]

(13

) Earnings Per Share

three

month period ended

March

31,

2017

and

2016.

	Three Months Ended
	March 31
	2017		2016

Numerator
Net Income Available to Common Stockholders	$	1,906	$	1,656

Denominator
Weighted Average Number of Common Shares
Outstanding for Basic Earnings Per Common Share		8,439		8,439

Dilutive Effect of Potential Common Stock
Restricted Stock		-		-
Stock Warrants		195		45
Weighted-Average Number of Shares Outstanding for Diluted Earnings Per Common Share		8,634		8,484

Earnings Per Share - Basic	$	0.23	$	0.20

Earnings Per Share - Diluted	$	0.22	$	0.20

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Note 14 - Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2017

Comprehensive Income (Loss) Note [Text Block]

(14

)

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) for unrealized gains and losses securities available for sale for the period ended

March

31,

2017

and the year ended

December

31,

2016

are as follows:

	March 31, 2017			December 31, 2016

Beginning Balance	$	(5,022	)	$	(4,434	)

Other Comprehensive Income Before Reclassification		138			(334	)

Amounts Reclassified from Accumulated Other Comprehensive Income		-			(254	)

Net Current Period Other Comprehensive Income		138			(588	)

Ending Balance	$	(4,884	)	$	(5,022	)

XML 31 R21.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Nature of Operations [Policy Text Block]

Nature of Operations

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Reclassification, Policy [Policy Text Block]

Reclassifications

In certain instances, amounts reported in prior years’ consolidated financial statements have been reclassified to conform to statement presentations selected for

2017.

Such reclassifications have not affected previously reported stockholders’ equity or net income.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentrations of Credit Risk

March

31,

2017,

approximately

At times, the Company

may

Investment, Policy [Policy Text Block]

Investment Securities

may

be sold to meet liquidity needs arising from unanticipated deposit and loan fluctuations, changes in regulatory capital requirements, or unforeseen changes in market conditions.

Investment in Federal Home Bank Stock [Policy Text Block]

Federal Home Loan Bank Stock

Investment in stock of a Federal Home Loan Bank (FHLB) is

Policy Loans Receivable, Policy [Policy Text Block]

Loans

A loan is considered to be delinquent when payments have not been made according to contractual terms, typically evidenced by nonpayment of a monthly installment by the due date.

When management believes there is sufficient doubt as to the collectability of principal or interest on any loan or generally when loans are

Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block]

Loans Modified in a Troubled Debt Restructuring (TDR)

may

cease being classified as impaired if the loan is subsequently modified at market terms and, has performed according to the modified terms for at least

six

months, and there has not been any prior principal forgiveness on a cumulative basis.

Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]

Allowance for Loan

Losses

may

(1)

changes in lending policies and procedures, including changes in underwriting standards and collections, charge offs, and recovery practices,

(2)

changes in international, national, regional, and local conditions,

(3)

changes in the nature and volume of the portfolio and terms of loans,

(4)

changes in the experience, depth, and ability of lending management,

(5)

changes in the volume and severity of past due loans and other similar conditions,

(6)

changes in the quality of the organization's loan review system,

(7)

changes in the value of underlying collateral for collateral dependent loans,

(8)

the existence and effect of any concentrations of credit and changes in the levels of such concentrations, and

(9)

the effect of other external factors (i.e. competition, legal and regulatory requirements) on the level of estimated credit losses.

Loans identified as losses by management, internal loan review and/or regulatory agencies are charged off.

third

may

be evaluated internally by senior credit administration staff. When the Company does obtain appraisals from external

third

-parties, the values utilized in the impairment calculation are “as is” or current market values. The appraisals, whether prepared internally or externally,

may

be further discounted to reflect facts and circumstances known to management since the most recent appraisal was performed.

Property, Plant and Equipment, Policy [Policy Text Block]

Premises and Equipment

Premises and equipment are recorded at acquisition cost net of accumulated depreciation.

Depreciation is charged to operations over the estimated useful lives of the assets. The estimated useful lives and methods of depreciation are as follows:

Description	Life in Years			Method
Banking Premises	15	-	40	Straight-Line and Accelerated
Furniture and Equipment	5	-	10	Straight-Line and Accelerated

Intangible Assets, Finite-Lived, Policy [Policy Text Block]

Intangible Assets

Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Policy [Policy Text Block]

Transfers of Financial Assets

Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when

(1)

the assets have been isolated from the Company,

(2)

the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and

(3)

the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

Cash and Cash Equivalents, Policy [Policy Text Block]

Statement of Cash Flows

Advertising Costs, Policy [Policy Text Block]

Advertising Costs

The Company expenses the cost of advertising in the periods in which those costs are incurred.

Income Tax, Policy [Policy Text Block]

Income Taxes

Positions taken in the Company’s tax returns

may

be challenged by the taxing authorities. Interest expense is recognized beginning in the

first

Real Estate Owned, Valuation Allowance, Policy [Policy Text Block]

Other Real Estate

Bank Owned Life Insurance [Policy Text Block]

Bank-Owned Life Insurance

$15,569

and

$15,419

as of

March

31,

2017

and

December

31,

2016,

respectively.

Comprehensive Income, Policy [Policy Text Block]

Comprehensive Income

Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block]

Off-Balance Sheet Credit Related Financial Instruments

New Accounting Pronouncements, Policy [Policy Text Block]

Changes in Accounting Principles and Effects of New Accounting Pronouncements

ASU

2014

09,

Revenue from Contracts with Customers (Topic

606).

The core principle of ASU

2014

defines a

five

-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates

may

2014

09,

as deferred

one

year by ASU

2015

14,

is effective for the Company in the

first

quarter of fiscal year

2018.

The Company is currently evaluating the impact of the pending adoption of ASU

2014

on the consolidated financial statements.

ASU

2016

01,

Financial Instruments – Overall (Subtopic

825

10):

Recognition and Measurement of Financial Assets and Financial Liabilities.

ASU

2016

01,

2016

will be effective for the Company on

January

2018.

The Company is currently evaluating the impact of the pending adoption of ASU

2016

on the consolidated financial statements.

ASU

2016

02,

Leases

(Topic

842)

December

15,

2018,

ASU

2016

13,

Financial Instruments – Credit Losses

(Topic

326).

December

15,

2019,

including interim periods within those fiscal years. The Company is currently assessing the impact of the adoption of this ASU on its consolidated financial statements.

ASU

2016

15,

Statement of Cash Flows (Topic

230)

- Classification of Certain Cash Receipts and Cash Payments.

ASU

2016

provides guidance related to certain cash flow issues in order to reduce the current and potential future diversity in practice. ASU

2016

will be effective for us on

January

2018

and is not expected to have a significant impact on our financial statements.

ASU

2017

08,

Premium Amortization on Purchased Callable Debt Securities.

2017

is effective for interim and annual reporting periods beginning after

December

15,

2018;

first

reporting period in which the guidance is adopted. The Company is currently evaluating the provisions of ASU No.

2017

to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements.

XML 32 R22.htm IDEA: XBRL DOCUMENT

Note 1 - Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2017

Estimated Useful Lives and Methods of Depreciation [Table Text Block]

Description	Life in Years			Method
Banking Premises	15	-	40	Straight-Line and Accelerated
Furniture and Equipment	5	-	10	Straight-Line and Accelerated

XML 33 R23.htm IDEA: XBRL DOCUMENT

Note 2 - Investment Securities (Tables)

3 Months Ended

Mar. 31, 2017

Marketable Securities [Table Text Block]

March 31, 2017	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities Available for Sale:
U. S. Government Agencies
Mortgage-Backed	$	342,828	$	109	$	(7,486	)	$	335,451
State, County & Municipal		4,444		35		(23	)		4,456
Corporate Bonds		2,060		-		(35	)		2,025
	$	349,332	$	144	$	(7,544	)	$	341,932

December 31, 2016	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities Available for Sale:
U. S. Government Agencies
Mortgage-Backed	$	326,694	$	76	$	(7,673	)	$	319,097
State, County & Municipal		4,573		18		(30	)		4,561
	$	331,267	$	94	$	(7,703	)	$	323,658

Investments Classified by Contractual Maturity Date [Table Text Block]

	Securities
	Available for Sale
	Amortized Cost		Fair Value

Due In One Year or Less	$	667	$	672
Due After One Year Through Five Years		4,449		4,421
Due After Five Years Through Ten Years		694		712
Due After Ten Years		694		676
	$	6,504	$	6,481

Mortgage-Backed Securities		342,828		335,451
	$	349,332	$	341,932

Schedule of Unrealized Loss on Investments [Table Text Block]

	Less Than 12 Months					12 Months or Greater					Total

			Gross					Gross					Gross
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses

March 31, 2017
U. S. Government Agencies
Mortgage-Backed	$	196,927	$	(3,362	)	$	108,603	$	(4,124	)	$	305,530	$	(7,486	)
State, County and Municipal		2,138		(23	)		-		-			2,138		(23	)
Corporate Bonds		2,025		(35	)		-		-			2,025		(35	)
	$	201,090	$	(3,420	)	$	108,603	$	(4,124	)	$	309,693	$	(7,544	)

December 31. 2016
U.S. Government Agencies
Mortgage-Backed	$	174,201	$	(3,460	)	$	107,482	$	(4,213	)	$	281,683	$	(7,673	)
State, County and Municipal		3,488		(30	)		-		-			3,488		(30	)
	$	177,689	$	(3,490	)	$	107,482	$	(4,213	)	$	285,171	$	(7,703	)

XML 34 R24.htm IDEA: XBRL DOCUMENT

Note 3 - Loans (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	March 31, 2017		December 31, 2016
Commercial and Agricultural
Commercial	$	44,925	$	47,025
Agricultural		19,306		17,080

Real Estate
Commercial Construction		30,540		30,358
Residential Construction		9,367		11,830
Commercial		359,143		349,090
Residential		195,282		195,580
Farmland		64,870		66,877

Consumer and Other
Consumer		19,188		19,695
Other		17,720		16,748

Total Loans	$	760,341	$	754,283

Financing Receivable Credit Quality Indicators [Table Text Block]

March 31, 2017
	Pass		Special Mention		Substandard		Total Loans
Commercial and Agricultural
Commercial	$	42,145	$	1,720	$	1,060	$	44,925
Agricultural		18,316		612		378		19,306

Real Estate
Commercial Construction		28,656		1,307		577		30,540
Residential Construction		9,167		-		200		9,367
Commercial		339,616		8,378		11,149		359,143
Residential		182,896		1,004		11,382		195,282
Farmland		62,990		920		960		64,870

Consumer and Other
Consumer		18,609		181		398		19,188
Other		17,720		-		-		17,720

Total Loans	$	720,115	$	14,122	$	26,104	$	760,341

December 31, 2016
	Pass		Special Mention		Substandard		Total Loans
Commercial and Agricultural
Commercial	$	44,250	$	1,862	$	913	$	47,025
Agricultural		16,586		192		302		17,080

Real Estate
Commercial Construction		28,425		1,349		584		30,358
Residential Construction		11,630		-		200		11,830
Commercial		327,561		9,403		12,126		349,090
Residential		178,618		5,659		11,303		195,580
Farmland		65,075		839		963		66,877

Consumer and Other
Consumer		19,072		226		397		19,695
Other		16,748		-		-		16,748

Total Loans	$	707,965	$	19,530	$	26,788	$	754,283

Past Due Financing Receivables [Table Text Block]

March 31, 2017
	Accruing Loans
			90 Days
	30-89 Days		or More		Total Accruing		Nonaccrual
	Past Due		Past Due		Loans Past Due		Loans		Current Loans		Total Loans
Commercial and Agricultural
Commercial	$	870	$	-	$	870	$	673	$	43,382	$	44,925
Agricultural		184		-		184		206		18,916		19,306

Real Estate
Commercial Construction		225		-		225		184		30,131		30,540
Residential Construction		-		-		-		-		9,367		9,367
Commercial		1,423		-		1,423		5,749		351,971		359,143
Residential		1,762		-		1,762		3,434		190,086		195,282
Farmland		92		-		92		800		63,978		64,870

Consumer and Other
Consumer		144		-		144		203		18,841		19,188
Other		2		-		2		-		17,718		17,720

Total Loans	$	4,702	$	-	$	4,702	$	11,249	$	744,390	$	760,341

December 31, 2016
	Accruing Loans
			90 Days
	30-89 Days		or More		Total Accruing		Nonaccrual
	Past Due		Past Due		Loans Past Due		Loans		Current Loans		Total Loans
Commercial and Agricultural
Commercial	$	420	$	-	$	420	$	635	$	45,970	$	47,025
Agricultural		33		-		33		209		16,838		17,080

Real Estate
Commercial Construction		54		-		54		190		30,114		30,358
Residential Construction		-		-		-		-		11,830		11,830
Commercial		492		-		492		6,360		342,238		349,090
Residential		3,179		-		3,179		3,944		188,457		195,580
Farmland		95		-		95		800		65,982		66,877

Consumer and Other
Consumer		196		-		196		212		19,287		19,695
Other		-		-		-		-		16,748		16,748

Total Loans	$	4,469	$	-	$	4,469	$	12,350	$	737,464	$	754,283

Impaired Financing Receivables [Table Text Block]

March 31, 2017
	Unpaid
	Contractual						Average		Interest		Interest
	Principal		Impaired		Related		Recorded		Income		Income
	Balance		Balance		Allowance		Investment		Recognized		Collected

With No Related Allowance Recorded
Commercial	$	876	$	673	$	-	$	654	$	8	$	8
Agricultural		226		206		-		207		12		12
Commercial Construction		184		184		-		187		1		1
Commercial Real Estate		15,980		15,899		-		15,088		166		164
Residential Real Estate		5,010		4,709		-		4,331		56		58
Farmland		921		800		-		800		1		1
Consumer		203		203		-		207		2		2
Other		-		-		-		-		-		-

		23,400		22,674		-		21,474		246		246

With An Allowance Recorded
Commercial		-		-		-		-		-		-
Agricultural		-		-		-		-		-		-
Commercial Construction		72		72		21		72		1		1
Commercial Real Estate		5,300		4,506		3,051		6,487		17		17
Residential Real Estate		764		757		340		1,112		1		1
Farmland		378		378		27		379		5		5
Consumer		-		-		-		-		-		-
Other		-		-		-		-		-		-

		6,514		5,713		3,439		8,050		24		24

Total
Commercial		876		673		-		654		8		8
Agricultural		226		206		-		207		12		12
Commercial Construction		256		256		21		259		2		2
Commercial Real Estate		21,280		20,405		3,051		21,575		183		181
Residential Real Estate		5,774		5,466		340		5,443		57		59
Farmland		1,299		1,178		27		1,179		6		6
Consumer		203		203		-		207		2		2
Other		-		-		-		-		-		-

	$	29,914	$	28,387	$	3,439	$	29,524	$	270	$	270

December 31, 2016
	Unpaid
	Contractual						Average		Interest		Interest
	Principal		Impaired		Related		Recorded		Income		Income
	Balance		Balance		Allowance		Investment		Recognized		Collected

With No Related Allowance Recorded
Commercial	$	635	$	635	$	-	$	539	$	24	$	27
Agricultural		229		209		-		210		9		12
Commercial Construction		191		191		-		698		7		7
Commercial Real Estate		14,358		14,276		-		14,275		567		560
Residential Real Estate		4,261		3,952		-		4,553		73		191
Farmland		921		799		-		1,016		22		26
Consumer		212		212		-		213		10		12

		20,807		20,274		-		21,504		712		835

With An Allowance Recorded
Commercial		-		-		-		30		-		-
Agricultural		-		-		-		-		-		-
Commercial Construction		72		72		21		74		1		2
Commercial Real Estate		8,557		8,467		3,022		8,340		239		236
Residential Real Estate		1,476		1,468		363		1,043		28		32
Farmland		380		380		29		384		21		21
Consumer		-		-		-		-		-		-

		10,485		10,387		3,435		9,871		289		291

Total
Commercial		635		635		-		569		24		27
Agricultural		229		209		-		210		9		12
Commercial Construction		263		263		21		772		8		9
Commercial Real Estate		22,915		22,743		3,022		22,615		806		796
Residential Real Estate		5,737		5,420		363		5,596		101		223
Farmland		1,301		1,179		29		1,400		43		47
Consumer		212		212		-		213		10		12

	$	31,292	$	30,661	$	3,435	$	31,375	$	1,001	$	1,126

March 31, 2016
	Unpaid
	Contractual						Average		Interest			Interest
	Principal		Impaired		Related		Recorded		Income			Income
	Balance		Balance		Allowance		Investment		Recognized			Collected

With No Related Allowance Recorded
Commercial	$	502	$	500	$	-	$	477	$	2		$	3
Agricultural		213		193		-		185		7			10
Commercial Construction		466		466		-		1,182		4			3
Commercial Real Estate		10,439		9,992		-		12,557		89			93
Residential Real Estate		5,209		4,288		-		4,432		52			48
Farmland		1,328		1,327		-		1,215		(4	)		-
Consumer		207		195		-		187		1			4

		18,364		16,961		-		20,235		151			161

With An Allowance Recorded
Commercial		29		28		4		76		-			-
Agricultural		-		-		-		-		-			-
Commercial Construction		75		75		24		76		-			-
Commercial Real Estate		7,279		7,265		1,940		8,110		50			52
Residential Real Estate		971		964		528		1,019		1			1
Farmland		386		386		35		387		5			5
Consumer		-		-		-		-		-			-

		8,740		8,718		2,531		9,668		56			58

Total
Commercial		531		528		4		553		2			3
Agricultural		213		193		-		185		7			10
Commercial Construction		541		541		24		1,258		4			3
Commercial Real Estate		17,718		17,257		1,940		20,667		139			145
Residential Real Estate		6,180		5,252		528		5,451		53			49
Farmland		1,714		1,713		35		1,602		1			5
Consumer		207		195		-		187		1			4

	$	27,104	$	25,679	$	2,531	$	29,903	$	207		$	219

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

Three Months Ended March 31, 2017

Troubled Debt Restructurings

# of Contracts

Pre-Modification

Post-Modification

Residential Real Estate

Total Loans

	Three Months Ended March 31, 2016
Troubled Debt Restructurings
	# of Contracts		Pre-Modification		Post-Modification

Residential Real Estate		1	$	91	$	91

Total Loans		1	$	91	$	91

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Note 4 - Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2017

Allowance for Credit Losses on Financing Receivables [Table Text Block]

March 31, 2017
	Beginning										Ending
	Balance		Charge-Offs			Recoveries		Provision			Balance

Commercial and Agricultural
Commercial	$	456	$	(4	)	$	79	$	(128	)	$	403
Agricultural		168		-			1		20			189

Real Estate
Commercial Construction		323		-			162		(183	)		302
Residential Construction		13		-			-		(3	)		10
Commercial		5,751		(852	)		247		773			5,919
Residential		1,396		(15	)		15		(160	)		1,236
Farmland		722		-			-		(13	)		709

Consumer and Other
Consumer		80		(46	)		19		28			81
Other		14		-			-		1			15

	$	8,923	$	(917	)	$	523	$	335		$	8,864

March 31, 2016
	Beginning										Ending
	Balance		Charge-Offs			Recoveries		Provision			Balance

Commercial and Agricultural
Commercial	$	855	$	(169	)	$	12	$	(144	)	$	554
Agricultural		203		(22	)		1		10			192

Real Estate
Commercial Construction		691		-			804		(685	)		810
Residential Construction		20		-			-		-			20
Commercial		3,851		(248	)		168		1,475			5,246
Residential		1,990		(63	)		14		(136	)		1,805
Farmland		912		-			125		(234	)		803

Consumer and Other
Consumer		63		(49	)		15		72			101
Other		19		-			3		(4	)		18

	$	8,604	$	(551	)	$	1,142	$	354		$	9,549

Schedule of Allowance for Loan Losses by Portfolio Segment [Table Text Block]

March 31, 2017
	Ending Allowance Balance						Ending Loan Balance

	Individually		Collectively				Individually		Collectively
	Evaluated for		Evaluated for				Evaluated for		Evaluated for
	Impairment		Impairment		Total		Impairment		Impairment		Total
Commercial and Agricultural
Commercial	$	-	$	403	$	403	$	-	$	44,925	$	44,925
Agricultural		-		189		189		5		19,301		19,306

Real Estate
Commercial Construction		21		281		302		72		30,468		30,540
Residential Construction		-		10		10		-		9,367		9,367
Commercial		3,051		2,868		5,919		19,865		339,278		359,143
Residential		340		896		1,236		3,102		192,180		195,282
Farmland		27		682		709		1,042		63,828		64,870

Consumer and Other
Consumer		-		81		81		-		19,188		19,188
Other		-		15		15		-		17,720		17,720

Total End of Period Balance	$	3,439	$	5,425	$	8,864	$	24,086	$	736,255	$	760,341

March 31, 2016
	Ending Allowance Balance						Ending Loan Balance

	Individually		Collectively				Individually		Collectively
	Evaluated for		Evaluated for				Evaluated for		Evaluated for
	Impairment		Impairment		Total		Impairment		Impairment		Total
Commercial and Agricultural
Commercial	$	4	$	550	$	554	$	37	$	45,078	$	45,115
Agricultural		-		192		192		-		18,562		18,562

Real Estate
Commercial Construction		24		786		810		389		35,581		35,970
Residential Construction		-		20		20		-		9,849		9,849
Commercial		1,940		3,306		5,246		16,918		330,454		347,372
Residential		528		1,277		1,805		3,370		192,309		195,679
Farmland		35		768		803		1,401		64,884		66,285

Consumer and Other
Consumer		-		101		101		-		19,661		19,661
Other		-		18		18		-		15,768		15,768

Total End of Period Balance	$	2,531	$	7,018	$	9,549	$	22,115	$	732,146	$	754,261

XML 36 R26.htm IDEA: XBRL DOCUMENT

Note 5 - Other Real Estate Owned (Tables)

3 Months Ended

Mar. 31, 2017

Other Real Estate, Roll Forward [Table Text Block]

	Three Months Ended			Twelve Months Ended
	March 31, 2017			December 31, 2016

Balance, Beginning	$	6,439		$	8,839

Additions		219			5,664
Sales of OREO		(738	)		(7,416	)
Gains (Losses) on Sale		35			(146	)
Provision for Losses		(56	)		(502	)

Balance, Ending	$	5,899		$	6,439

XML 37 R27.htm IDEA: XBRL DOCUMENT

Note 6 - Deposits (Tables)

3 Months Ended

Mar. 31, 2017

Components Of Interest Bearing Deposits [Table Text Block]

	Three Months Ended		Twelve Months Ended
	March 31, 2017		December 31, 2016

Interest-Bearing Demand	$	450,391	$	448,004
Savings		74,718		70,066
Time, $250,000 and Over		28,805		32,168
Other Time		331,730		335,060
	$	885,644	$	885,298

Scheduled Maturities Of Certificates Of Deposits [Table Text Block]

Maturity	March 31, 2017		December 31, 2016
One Year and Under	$	254,384	$	256,886
One to Three Years		84,652		85,794
Three Years and Over		21,499		24,548
	$	360,535	$	367,228

XML 38 R28.htm IDEA: XBRL DOCUMENT

Note 7 - Other Borrowed Money (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Long-term Debt Instruments [Table Text Block]

	March 31, 2017		December 31, 2016
Federal Home Loan Bank Advances	$	46,000	$	46,000
Other Borrowings		5,008		-
	$	51,008	$	46,000

Schedule of Maturities of Long-term Debt [Table Text Block]

Year	Amount
2018	$	7,508
2019		5,000
2020		2,500
After 2020	$	36,000
	$	51,008

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

XML 39 R29.htm IDEA: XBRL DOCUMENT

Note 9 - Subordinated Debentures (Trust Preferred Securities) (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Subordinated Borrowing [Table Text Block]

3 Month

Added

Total

5 Year

Description

Date

Amount

Libor Rate

Points

Rate

Maturity

Call Option

Colony Bankcorp Statutory Trust III

6/17/2004

4,640

1.14817

2.68

3.82817

6/14/2034

6/17/2009

Colony Bankcorp Capital Trust I

4/13/2006

5,155

1.14678

1.50

2.64678

4/13/2036

4/13/2011

Colony Bankcorp Capital Trust II

3/12/2007

9,279

1.15222

1.65

2.80222

3/12/2037

3/12/2012

Colony Bankcorp Capital Trust III

9/14/2007

5,155

1.03900

1.40

2.43900

9/14/2037

9/14/2012

XML 40 R30.htm IDEA: XBRL DOCUMENT

Note 10 - Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2017

Summary Of Financial Instrument Outstanding [Table Text Block]

	Contract Amount
	March 31, 2017		December 31, 2016

Loan Commitments	$	95,025	$	71,359
Letters of Credit		1,491		1,551

XML 41 R31.htm IDEA: XBRL DOCUMENT

Note 11 - Fair Value of Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value, by Balance Sheet Grouping [Table Text Block]

	Fair Value Measurements at March 31, 2017
	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3

Assets
Cash and Short-Term Investments	$	50,662	$	50,662	$	50,662	$	-	$	-
Investment Securities Available for Sale		341,932		341,932		-		341,355		577
Federal Home Loan Bank Stock		3,043		3,043		3,043		-		-
Loans, Net		751,056		751,236		-		748,962		2,274
Bank-Owned Life Insurance		15,569		15,569		15,569		-		-

Liabilities
Deposits		1,044,321		1,044,542		683,696		360,846		-
Subordinated Debentures		24,229		24,229		-		24,229		-
Other Borrowed Money		51,008		51,213		-		51,213		-

	Fair Value Measurements at December 31, 2016
	Carrying		Estimated		Level		Level		Level
	Value		Fair Value			1		2		3

Assets
Cash and Short-Term Investments	$	75,167	$	75,167	$	75,167	$	-	$	-
Investment Securities Available for Sale		323,658		323,658		-		323,082		576
Federal Home Loan Bank Stock		3,010		3,010		3,010		-		-
Loans, Net		744,999		745,240		-		738,288		6,952
Bank-Owned Life Insurance		15,419		15,419		15,419		-		-

Liabilities
Deposits		1,044,357		1,045,726		677,129		368,597		-
Subordinated Debentures		24,229		24,229		-		24,229		-
Other Borrowed Money		46,000		46,232		-		46,232		-

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

			Fair Value Measurements at Reporting Date Using
			Quoted Prices in				Significant
			Active Markets for		Significant Other		Unobservable
	Total Fair		Identical Assets		Observable		Inputs
March 31, 2017	Value		(Level 1)		Inputs (Level 2)		(Level 3)

Recurring Securities Available for Sale
U.S. Government Agencies
Mortgage-Backed	$	335,451	$	-	$	335,451	$	-
State, County and Municipal		4,456		-		3,879		577
Corporate Bonds		2,025				2,025		-
	$	341,932	$	-	$	341,355	$	577

Nonrecurring
Impaired Loans	$	2,274	$	-	$	-	$	2,274

Other Real Estate	$	2,231	$	-	$	-	$	2,231

			Fair Value Measurements at Reporting Date Using
			Quoted Prices in				Significant
			Active Markets for		Significant Other		Unobservable
	Total Fair		Identical Assets		Observable		Inputs
December 31, 2016	Value		(Level 1)		Inputs (Level 2)		(Level 3)

Recurring Securities Available for Sale
U.S. Government Agencies
Mortgage-Backed	$	319,097	$	-	$	319,097	$	-
State, County and Municipal		4,561		-		3,985		576
	$	323,658	$	-	$	323,082	$	576

Nonrecurring
Impaired Loans	$	6,952	$	-	$	-	$	6,952

Other Real Estate	$	2,505	$	-	$	-	$	2,505

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

			Valuation	Unobservable	Range
	March 31, 2017		Techniques	Inputs	Weighted Avg

Real Estate
Commercial Construction	$	51	Sales Comparison	Adjustment for Differences	(5.00)%	-	99.00%
				Between the Comparable Sales		47.00%

				Management Adjustments for	0.00%	-	10.00 %
				Age of Appraisals and/or Current		5.00%
				Market Conditions

Residential Real Estate		417	Sales Comparison	Adjustment for Differences	(22.00 )%	-	0.00%
				Between the Comparable Sales		(11.00)%

				Management Adjustments for	0.00%	-	40.00 %
				Age of Appraisals and/or Current		20.00%
				Market Conditions

Commercial Real Estate		1,455	Sales Comparison	Management Adjustments for	0.00%	-	100.00 %
				Age of Appraisals and/or Current		50.00%
				Market Conditions

			Income Approach	Capitalization Rate		10.00%

Farmland		351	Sales Comparison	Adjustment for Differences	(27.00 )%	-	15.00%
				Between the Comparable Sales		(6.00 )%

				Management Adjustments for	10.00%	-	75.00 %
				Age of Appraisals and/or Current		42.50%
				Market Conditions

Other Real Estate Owned		2,231	Sales Comparison	Adjustment for Differences	(50.80 )%	-	302.00%
				Between the Comparable Sales		125.60%

				Management Adjustments for	6.25%	-	81.26 %
				Age of Appraisals and/or Current		33.47%
				Market Conditions

			Income Approach	Discount Rate		12.50%

			Valuation	Unobservable	Range
	December 31, 2016		Techniques	Inputs	Weighted Avg

Real Estate
Commercial Construction	$	51	Sales Comparison	Adjustment for Differences	(5.00)%	-	99.00%
				Between the Comparable Sales		47.00%

				Management Adjustments for	0.00%	-	10.00%
				Age of Appraisals and/or Current		5.00%
				Market Conditions

Residential Real Estate		1,105	Sales Comparison	Adjustment for Differences	(22.00)%	-	0.00%
				Between the Comparable Sales		(11.00)%

				Management Adjustments for	0.00%	-	40.00%
				Age of Appraisals and/or Current		20.00%
				Market Conditions

Commercial Real Estate		5,445	Sales Comparison	Adjustment for differences	(14.08)%	-	24.62%
				Between the comparable Sales		5.27%

				Management Adjustments for	0.00%	-	100.00%
				Age of Appraisals and/or Current		50.00%
				Market Conditions

			Income Approach	Capitalization Rate		10.67%

Farmland		351	Sales Comparison	Adjustment for Differences	(27.00)%	-	15.00%
				Between the Comparable Sales		(6.00)%

				Management Adjustments for	10.00%	-	75.00%
				Age of Appraisals and/or Current		42.50%
				Market Conditions

Other Real Estate Owned		2,505	Sales Comparison	Adjustment for Differences	(50.80)%	-	316.00%
				Between the Comparable Sales		132.60%

				Management Adjustment for	6.25%	-	76.92%
				Age of Appraisals and/or Current		36.31%
				Market Conditions

			Income Approach	Discount Rate		12.50%

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	Available for Sale Securities
	March 31, 2017		December 31, 2016

Balance, Beginning	$	576	$	930
Transfers out of Level 3		-		-
Maturities				(330	)
Loss on OTTI Impairment Included in Noninterest Income		-		-
Unrealized Gains included in Other Comprehensive Income (Loss)		1		(24	)


Balance, Ending	$	577	$	576

Fair Value, Inputs, Level 3 [Member]

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

	Fair Value		Valuation Techniques	Unobservable Inputs	Range Weighted Avg

State, County and Municipal	$	577	Discounted Cash Flow	Discount Rate		N/A*

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

XML 42 R32.htm IDEA: XBRL DOCUMENT

Note 12 - Regulatory Capital Matters (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]

											To Be Well
											Capitalized Under
						For Capital					Prompt Corrective
	Actual					Adequacy Purposes					Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
As of March 3 1 , 201 7

Total Capital to Risk-Weighted Assets
Consolidated	$	123,052		15.39	%	$	63,981		8.00	%		N/A		N/A
Colony Bank		125,211		15.68			63,894		8.00		$	79,867		10.00	%

Tier I Capital to Risk-Weighted Assets
Consolidated		114,188		14.28			47,986		6.00			N/A		N/A
Colony Bank		116,347		14.57			47,920		6.00			63,894		8.00

Common Equity Tier I Capital to Risk-Weighted Assets
Consolidated		90,688		11.34			35,989		4.50			N/A		N/A
Colony Bank		116,347		14.57			35,940		4.50			51,914		6.50

Tier I Capital to Average Assets
Consolidated		114,188		9.47			48,229		4.00			N/A		N/A
Colony Bank		116,347		9.66			48,161		4.00			60,201		5.00

	Actual					For Capital Adequacy Purposes					To Be Well Capitalized Under Prompt Corrective Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
As of December 31, 2016

Total Capital to Risk-Weighted Assets
Consolidated	$	130,785		16.64	%	$	62,880		8.00	%		N/A		N/A
Colony Bank		127,646		16.26			62,796		8.00		$	78,495		10.00	%

Tier 1 Capital to Risk-Weighted Assets
Consolidated		121,862		15.50			47,160		6.00			N/A		N/A
Colony Bank		118,723		15.12			47,097		6.00			62,796		8.00

Common Equity Tier 1 Capital to Risk-Weighted Assets
Consolidated		89,002		11.32			35,370		4.50			N/A		N/A
Colony Bank		118,723		15.12			35,323		4.50			51,022		6.50

Tier 1 Capital to Average Assets
Consolidated		121,862		10.29			47,368		4.00			N/A		N/A
Colony Bank		118,723		10.04			47,290		4.00			59,113		5.00

XML 43 R33.htm IDEA: XBRL DOCUMENT

Note 13 - Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Months Ended
	March 31
	2017		2016

Numerator
Net Income Available to Common Stockholders	$	1,906	$	1,656

Denominator
Weighted Average Number of Common Shares
Outstanding for Basic Earnings Per Common Share		8,439		8,439

Dilutive Effect of Potential Common Stock
Restricted Stock		-		-
Stock Warrants		195		45
Weighted-Average Number of Shares Outstanding for Diluted Earnings Per Common Share		8,634		8,484

Earnings Per Share - Basic	$	0.23	$	0.20

Earnings Per Share - Diluted	$	0.22	$	0.20

XML 44 R34.htm IDEA: XBRL DOCUMENT

Note 14 - Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2017