Financial Information of Colony Bankcorp, Inc (Parent Only)
 12 Months Ended
Dec. 31, 2014
Financial Information of Colony Bankcorp, Inc. (Parent Only) [Abstract]  
Financial Information of Colony Bankcorp, Inc. (Parent Only)
(22)
Financial Information of Colony Bankcorp, Inc. (Parent Only)

The parent company’s balance sheets as of December 31, 2014 and 2013 and the related statements of operations and comprehensive income (loss) and cash flows for each of the years in the three-year period then ended are as follows:

COLONY BANKCORP, INC. (PARENT ONLY)
BALANCE SHEETS
DECEMBER 31

ASSETS

  
2014
  
2013
 
     
Cash
 
$
5,750,652
  
$
1,422,289
 
Premises and Equipment, Net
  
1,199,639
   
1,272,965
 
Investment in Subsidiary, at Equity
  
115,066,948
   
114,559,866
 
Other
  
1,708,380
   
1,221,285
 
         
Total Assets
 
$
123,725,619
  
$
118,476,405
 
         
         
LIABILITIES AND STOCKHOLDERS’ EQUITY
 
         
Liabilities
        
Dividends Payable
 
$
315,000
  
$
3,119,146
 
Other
  
154,307
   
1,174,020
 
         
   
469,307
   
4,293,166
 
         
Subordinated Debt
  
24,229,000
   
24,229,000
 
         
Stockholders’ Equity
        
Preferred Stock, Stated Value $1,000; Authorized 10,000,000 Shares, Issued 28,000 Shares
  
28,000,000
   
28,000,000
 
Common Stock, Par Value $1; Authorized 20,000,000 Shares, Issued 8,439,258 Shares as of December 31, 2014 and 2013
  
8,439,258
   
8,439,258
 
Paid-In Capital
  
29,145,094
   
29,145,094
 
Retained Earnings
  
38,287,934
   
33,444,913
 
Accumulated Other Comprehensive Loss, Net of Tax
  
(4,844,974
)
  
(9,075,026
)
         
   
99,027,312
   
89,954,239
 
         
Total Liabilities and Stockholders’ Equity
 
$
123,725,619
  
$
118,476,405
 
 
COLONY BANKCORP, INC. (PARENT ONLY)
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31

  
2014
  
2013
  
2012
 
       
Income
      
Dividends from Subsidiary
 
$
12,015,572
  
$
1,515,549
  
$
17,372
 
Management Fees
  
581,334
   
581,334
   
590,422
 
Other
  
100,269
   
96,953
   
101,397
 
             
  
$
12,697,175
   
2,193,836
   
709,191
 
             
Expenses
            
Interest
  
517,381
   
516,641
   
554,004
 
Amortization
  
938
   
2,250
   
2,250
 
Salaries and Employee Benefits
  
782,152
   
748,149
   
735,919
 
Other
  
538,847
   
543,139
   
558,151
 
             
   
1,839,318
   
1,810,179
   
1,850,324
 
             
Income (Loss) Before Taxes and Equity in Undistributed Earnings of Subsidiary
  
10,857,857
   
383,657
   
(1,141,133
)
             
Income Tax Benefits
  
396,738
   
406,518
   
365,691
 
             
Income (Loss) Before Equity in Undistributed Earnings of Subsidiary
  
11,254,595
   
790,175
   
(775,442
)
             
Equity in Undistributed Earnings of Subsidiary
  
(3,722,970
)
  
3,838,870
   
3,416,740
 
             
Net Income
  
7,531,625
   
4,629,045
   
2,641,298
 
Preferred Stock Dividends
  
2,688,604
   
1,508,761
   
1,435,385
 
             
Net Income Available to Common Stockholders
 
$
4,843,021
  
$
3,120,284
  
$
1,205,913
 
 
 
COLONY BANKCORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
FOR THE YEARS ENDED DECEMBER 31

  
2014
  
2013
  
2012
 
       
Net Income
 
$
7,531,625
  
$
4,629,045
  
$
2,641,298
 
             
Other Comprehensive Income (Loss)
            
             
Gains (Losses) on Securities Arising During the Year
  
6,432,906
   
(13,886,854
)
  
(283,076
)
Tax Effect
  
(2,187,189
)
  
4,721,531
   
96,246
 
             
Realized Gains (Losses) on Sale of AFS Securities
  
(23,735
)
  
(2,819
)
  
(2,897,032
)
Tax Effect
  
8,070
   
959
   
984,991
 
             
Impairment Loss on Securities
  
-
   
366,623
   
59,568
 
Tax Effect
  
-
   
(124,652
)
  
(20,253
)
             
Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects
  
4,230,052
   
(8,925,212
)
  
(2,059,556
)
             
Comprehensive Income (Loss)
 
$
11,761,677
  
$
(4,296,167
)
 
$
581,742
 
 
 
COLONY BANKCORP, INC. (PARENT ONLY)
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31

  
2014
  
2013
  
2012
 
       
Cash Flows from Operating Activities
      
Net Income
 
$
7,531,625
  
$
4,629,045
  
$
2,641,298
 
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities
            
Depreciation and Amortization
  
75,347
   
80,711
   
93,427
 
Equity in Undistributed Earnings of Subsidiary
  
3,722,970
   
(3,838,870
)
  
(3,416,740
)
Change in Interest Payable
  
(1,069,695
)
  
516,641
   
529,922
 
Other
  
(437,115
)
  
(390,962
)
  
(405,379
)
             
   
9,823,132
   
996,565
   
(557,472
)
             
Cash Flows from Investing Activities
            
Purchases of Premises and Equipment
  
(2,020
)
  
(68,708
)
  
-
 
             
Cash Flows from Financing Activities
            
Dividends Paid on Preferred Stock
  
(5,492,749
)
  
-
   
-
 
             
Increase (Decrease) in Cash
  
4,328,363
   
927,857
   
(557,472
)
             
Cash, Beginning
  
1,422,289
   
494,432
   
1,051,904
 
             
Cash, Ending
 
$
5,750,652
  
$
1,422,289
  
$
494,432