---
schema_version: "secwatch.filing_event.v1"
accession: "0000711669-23-000004"
form_type: "8-K"
ticker: "CBAN"
cik: "0000711669"
company_name: "COLONY BANKCORP INC"
filed_at: "2023-01-26T23:59:59+00:00"
generated_at: "2026-06-20T08:40:19.324135+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Colony Bankcorp Q4 net income $5.6M; CFO resigns; director dies

## Summary
- Net income $5.6M ($0.31 diluted EPS) vs $4.2M ($0.30) in Q4 2021.
- Declared $0.11 quarterly dividend payable Feb 23, record Feb 9.
- CFO Andy Borrmann resigns effective Jan 24; receives one-year salary severance.
- CEO Heath Fountain named interim CFO; Derek Shelnutt acting CFO of bank.
- Director Terry Hester passed away Jan 22; $11.5M remains under buyback program.

## SEC filing metadata
- accession: 0000711669-23-000004
- form_type: 8-K
- ticker: CBAN
- cik: 0000711669
- company_name: COLONY BANKCORP INC
- filed_at: 2023-01-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/711669/000071166923000004/0000711669-23-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/711669/000071166923000004/cban-20230126.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000711669-23-000004
- JSON: https://secwatch.observer/filing/0000711669-23-000004.json
- Plain text: https://secwatch.observer/filing/0000711669-23-000004.txt

## Key facts
- Executive change
  Terry L. Hester departed as Director at COLONY BANKCORP INC.
  - Action: passed away
  - Role: Director
  source text: Terry L. Hester passed away on January 22, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/711669/000071166923000004/0000711669-23-000004-index.htm
- Executive change
  T. Heath Fountain was appointed as interim Chief Financial Officer at COLONY BANKCORP INC.
  - Action: designated
  - Role: interim Chief Financial Officer
  source text: The Board of Directors of the Company designated T. Heath Fountain as the interim Chief Financial Officer, principal financial officer and principal accounting officer of the Company, to serve in that function until a permanent replacement is named.
  evidence_url: https://www.sec.gov/Archives/edgar/data/711669/000071166923000004/0000711669-23-000004-index.htm
- Executive change
  Andrew Borrmann resigned as Executive Vice President and Chief Financial Officer at COLONY BANKCORP INC.
  - Action: resigned
  - Role: Executive Vice President and Chief Financial Officer
  source text: On January 24, 2023, Mr. Andrew Borrmann resigned from his roles of Executive Vice President and Chief Financial Officer of each of the Company and the Bank, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/711669/000071166923000004/0000711669-23-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.