Every material Form 8-K COLONY BANKCORP INC has filed with the SEC since September 17, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Colony Bankcorp completed its merger with First Reliance Bancshares effective November 1, 2026, with First Reliance merging into Colony and its bank merging into Colony Bank. Former First Reliance holders receive $19.75 in cash or 0.94 Colony shares per share, and Colony will issue about 6,185,975 shares and pay about $32,662,112 in cash, which adds shares outstanding for existing shareholders. Colony also assumed First Reliance's subordinated notes and junior subordinated debentures, and its board grew from eight to ten directors.
Merger effective November 1, 2026; consideration of $19.75 in cash or 0.94 Colony shares per First Reliance share, with no more than 80% of FSRL stock convertible into shares
Colony to issue about 6,185,975 common shares and pay about $32,662,112 in cash to former First Reliance holders and equity award holders
Assumed up to $10,000,000 of 3.375% subordinated notes due October 1, 2031 and up to $10,310,000 of junior subordinated debentures due November 23, 2035
Board increased from eight to ten directors; F.R. Saunders, Jr. and Forrest R. Redden III appointed, with Saunders serving as Executive Vice Chairman of Colony Bank
Colony Bankcorp reported third quarter 2026 net income of $10.5 million, or $0.50 per diluted share, down from $10.9 million, or $0.51, in the second quarter but up from $5.8 million, or $0.33, a year earlier. The company also agreed to sell and lease back three branch properties for an aggregate gross purchase price of $19.9 million, with two sales closed and the third pending. The company estimates a pre-tax gain of about $15 million from the sale-leaseback, expected to be offset by realized losses from a planned securities portfolio repositioning, and its parent guaranteed the lease obligations.
Third quarter 2026 net income was $10.5 million, or $0.50 per diluted share, versus $10.9 million, or $0.51, in the second quarter of 2026 and $5.8 million, or $0.33, in the third quarter of 2025
Two branch sales in Manchester and Thomaston, Georgia closed October 27, 2026 for $16.2 million; the Tifton sale for $3.7 million has not closed
Initial annual base rent on the two leased-back properties is $1.34 million, rising to $1.65 million in total after the Tifton closing
Board declared a quarterly cash dividend of $0.12 per share, payable November 25, 2026 to holders of record on November 11, 2026
Colony Bankcorp said on September 17, 2026 that it has received all required regulatory approvals for its merger with First Reliance Bancshares. The deal still needs shareholder approvals from both companies, with special meetings set for October 14, 2026, and the 8-K gives an expected closing date of November 1, 2026.
All required regulatory approvals received, announced September 17, 2026
Shareholder special meetings for both companies scheduled for October 14, 2026
Expected closing date of November 1, 2026, pending shareholder approvals and other customary conditions
Deal valued at approximately $163 million; combined company to have about $5 billion in total assets
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
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