---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-117152"
form_type: "8-K"
ticker: "CBAN"
cik: "0000711669"
company_name: "COLONY BANKCORP INC"
filed_at: "2025-12-01T23:59:59+00:00"
generated_at: "2026-05-16T15:57:17.121830+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-117152
- form_type: 8-K
- ticker: CBAN
- cik: 0000711669
- company_name: COLONY BANKCORP INC
- filed_at: 2025-12-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/711669/000110465925117152/0001104659-25-117152-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/711669/000110465925117152/tm2532053d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-117152
- JSON: https://secwatch.observer/filing/0001104659-25-117152.json
- Plain text: https://secwatch.observer/filing/0001104659-25-117152.txt

## Key facts
- M&A Transactions
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/711669/000110465925117152/0001104659-25-117152-index.htm

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