COLONY BANKCORP INC (CBAN): M&A transaction — 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.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

COLONY BANKCORP INC completed an acquisition involving TC Bancshares, Inc. for $21.25 in cash or 1.25 shares of Colony common stock for each share of TC Bancshares common stock (closed 2025-12-01).

Action: acquisition
Counterparty: TC Bancshares, Inc.
Consideration: $21.25 in cash or 1.25 shares of Colony common stock for each share of TC Bancshares common stock
Closing: 2025-12-01

Exact text from the filing

of TCBC common stock issued and outstanding immediately prior to the Effective Time was converted into the right to receive, at the election of each TCBC shareholder, either (i) $21.25 in cash (the “Per Share Cash Consideration”), or (ii) 1.25 shares of the Company’s common stock (the “Per Share Stock Consideration”), subject to customary proration and

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COLONY BANKCORP INC filing history →

Source: SEC EDGAR

accession 0001104659-25-117152

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