secwatch.observer — SEC 8-K summary
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Issuer:     COLONY BANKCORP INC (CBAN)
CIK:        0000711669
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0000711669-23-000114
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 Q2 net income $5.3M ($0.30 EPS); dividend $0.11/share
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- Net income $5.3M, $0.30 diluted EPS; adjusted EPS $0.33, up from $0.29 Q1 2023 and $0.19 Q2 2022.
- Net interest margin 2.77%, down 38 bps from 3.15% a year ago; NII tax-equivalent $19.3M flat YoY.
- Total loans $1.84B (+2.17% QoQ); deposits $2.63B (+$111M QoQ); nonperforming assets $11.9M (up $4.1M).
- Quarterly cash dividend $0.11/share declared, payable Aug 23, record Aug 9; 41,481 shares repurchased at avg $9.78.
- Reduced workforce by 23 employees, saving $2.5M/year; provision for credit losses $200K, down from $900K prior quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/711669/000071166923000114/0000711669-23-000114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/711669/000071166923000114/cban-20230726.htm
  HTML page:      https://secwatch.observer/filing/0000711669-23-000114

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer