secwatch.observer — SEC 8-K summary
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Issuer:     COLONY BANKCORP INC (CBAN)
CIK:        0000711669
Form:       8-K
Filed at:   2022-04-21T23:59:59+00:00
Accession:  0000711669-22-000084
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Colony Bankcorp Q1 net income $5.3M ($0.34 EPS); declares $0.1075 dividend; $3M cost savings initiative
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- Net income of $5.3M ($0.34 diluted EPS) vs $4.2M ($0.30) in Q4 2021 and $4.9M ($0.52) in Q1 2021.
- Operating net income of $5.8M ($0.37 diluted EPS) adjusted for acquisition costs.
- Declared quarterly cash dividend $0.1075/share; payable May 20, 2022 to May 6 record holders.
- Cost initiative to save $3.0M/year starting late Q3 2022; plan to cut 24 jobs and close two branches.
- CFO Tracie Youngblood leaving; Andy Borrmann appointed CFO; $59.3M net from Feb public offering.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/711669/000071166922000084/0000711669-22-000084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/711669/000071166922000084/cban-20220421.htm
  HTML page:      https://secwatch.observer/filing/0000711669-22-000084

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