Colony Bankcorp completes merger with TC Bancshares effective Dec 1, 2025

COLONY BANKCORP INC

Each TCBC share converted to either $21.25 cash or 1.25 CBAN shares; 20% cash, 80% stock proration.
CBAN issued ~3.84M shares and paid ~$15.4M cash to former TCBC shareholders.
Combined entity has ~$3.7B assets, $3.0B deposits, $2.4B loans; conversion to Colony Bank expected in early 2026.
TC Federal customers continue through existing branches until system conversion.

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