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Financial Information of Colony Bankcorp, Inc (Parent Only) (Tables)
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12 Months Ended |
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Dec. 31, 2014
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| Financial Information of Colony Bankcorp, Inc. (Parent Only) [Abstract] |
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| Balance Sheets |
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 | |
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| Statements of Operations |
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 | |
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| Statements of Comprehensive Income (Loss) |
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 | |
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| Statements of Cash Flows |
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 | |
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