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

12 Months Ended

Dec. 31, 2019

	2019		2018
ASSETS

Cash	$	2,049	$	937
Premises and equipment, net		1,171		1,198
Investment in subsidiaries		165,836		117,743
Other		483		236
Total Assets	$	169,539	$	120,114

LIABILITIES AND STOCKHOLDERS’ EQUITY

Liabilities
Other borrowed money	$	14,563	$	-
Other		241		193
Subordinated debt		24,229		24,229
Total Liabilities	$	39,033	$	24,422

Stockholders’ Equity
Common stock, par value $1; 20,000,000 shares authorized, 9,498,783 and 8,439,258 shares issued and outstanding as of December 31, 2019 and 2018, respectively		9,499		8,445
Paid-in capital		43,667		25,978
Retained earnings		76,978		69,459
Accumulated other comprehensive income (loss), net of tax		362		(8,190	)
Total Stockholder’s Equity		130,506		95,692
Total Liabilities and Stockholders’ Equity	$	169,539	$	120,114

	2019		2018
Income
Dividends from subsidiaries	$	6,731	$	8,329
Management fees		750		601
Other		18		106
Total income		7,499		9,036

Expenses
Interest		1,541		972
Salaries and employee benefits		1,097		1,084
Other		1,262		691
Total expenses		3,899		2,747

Income before income taxes and equity in undistributed earnings of subsidiaries		3,600		6,289

Income tax benefit		639		422

Income before equity in undistributed earnings of subsidiaries		4,239		6,711

Equity in undistributed earnings of subsidiaries		5,972		5,206

Net income	$	10,211	$	11,917

	2019		2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	10,211	$	11,917
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		81		85
Share-based compensation expense		34		14
Equity in undistributed earnings of subsidiaries		(5,972)		(5,206)
Change in interest payable		21		3
Other		1,065		(240)
Net cash provided by operating activities		5,440		6,573

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of premises and equipment		(54)		(183)
Net cash and cash equivalents paid in acquisition		(16,145)		-
Net cash (used in) provided by investing activities		(16,199)		(183)

CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in other borrowed money		14,563		(1,500)
Dividends paid for common stock		(2,692)		(1,688)
Repurchase of warrants		-		(3,175)
Net cash (used in) provided by financing activities		11,871		(6,363)

Net increase (decrease) in cash and cash equivalents		1,112		27
Cash and cash equivalents at beginning of period		937		910
Cash and cash equivalents at end of period	$	2,049	$	937