Colony Bankcorp, Inc. Reports First Quarter 2026 Results

Colony Bankcorp, Inc. Reports First Quarter 2026 Results Declares Quarterly Cash Dividend of $0.12 Per Share Colony Bankcorp, Inc. (NYSE: CBAN) (“Colony” or the “Company”) today reported financial results for the first quarter of 2026. Financial highlights are shown below. Financial Highlights: Net income was $8.2 million, or $0.39 per diluted share, for the first quarter of 2026, compared to $7.8 million, or $0.42 per diluted share, for the fourth quarter of 2025, and $6.6 million, or $0.38 per diluted share, for the first quarter of 2025.Operating net income was $9.5 million, or $0.45 of operating earnings per diluted share, for the first quarter of 2026, compared to $8.9 million, or $0.48 of operating earnings per diluted share, for the fourth quarter of 2025, and $6.6 million, or $0.38 of operating earnings per diluted share, for the first quarter of 2025. (See Reconciliation of Non-GAAP Measures).Provision for credit losses of $1.75 million was recorded in the first quarter of 2026 compared to $1.65 million in the fourth quarter of 2025, and $1.50 million in the first quarter of 2025.Total loans, excluding loans held for sale, were $2.41 billion at March 31, 2026, an increase of $32.2 million, or 1.35%, from the prior quarter.Total deposits were $3.05 billion and $3.07 billion at March 31, 2026 and December 31, 2025, respectively, a decrease of $19.1 million.Mortgage production was $88.5 million, and mortgage sales totaled $61.4 million in the first quarter of 2026 compared to $89.5 million and $68.1 million, respectively, for the fourth quarter of 2025.Small Business Specialty Lending (“SBSL”) closed $13.1 million in Small Business Administration (“SBA”) loans and sold $10.4 million in SBA loans in the first quarter of 2026 compared to $29.1 million and $16.8 million, respectively, for the fourth quarter of 2025. The Company also announced that on April 22, 2026, the Board of Directors declared a quarterly cash dividend of $0.12 per share, to be paid on its common stock on May 20, 2026, to shareholders of record as of the close of business on May 6, 2026. The Company had 21,162,104 shares of its common stock outstanding as of April 20, 2026. "Our first quarter performance represents a strong start to the year, characterized by meaningful improvement compared to the first quarter in the prior year and continued disciplined execution of our strategic initiatives. In addition to our solid financial performance during the quarter, our team successfully completed the TC Federal customer integration and core systems conversion which represents a significant operational achievement that allows us to fully realize the efficiencies of our combined organization and provides a scalable platform for future growth,” said Heath Fountain, Chief Executive Officer. "Beyond core banking operations, our complementary lines of business continue to demonstrate significant momentum, contributing to a notable increase in noninterest income compared to the first quarter of the prior year. This growth highlights the success of our diversification strategy and our ability to deepen client relationships across our platform.” “Colony Insurance and Colony Financial Advisors both achieved their strongest quarters to date on a pre-tax basis. The performance of these lines of business illustrates the value of our integrated financial services model and provides a resilient, diversified revenue stream that complements our core banking operations." “We are also encouraged by the continued expansion of our net interest margin, marking another consecutive quarter of improvement. This trend, supported by our diligent management of deposit costs and asset yields, reinforces the underlying strength of our balance sheet. As we move forward, we remain committed to leveraging our enhanced scale and operational stability to deliver consistent results for our shareholders." Balance Sheet Total assets were $3.72 billion at March 31, 2026, a slight decrease of $14.8 million from December 31, 2025.Total loans, excluding loans held for sale, were $2.41 billion at March 31, 2026, an increase of $32.2 million from December 31, 2025.Total deposits were $3.05 billion and $3.07 billion at March 31, 2026 and December 31, 2025, respectively, a decrease of $19.1 million. Decreases were seen in noninterest-bearing demand deposits of $31.5 million, interest-bearing demand deposits of $4.5 million and time deposits of $1.7 million while savings and money market deposits increased $18.6 million, from December 31, 2025 to March 31, 2026. The decline in organic customer deposits was driven by the seasonal municipal deposit outflow early in the quarter, however customer deposits increased in the month of March.Total borrowings at March 31, 2026 totaled $258.1 million, an increase of $32,000 compared to December 31, 2025. Capital Colony continues to maintain a strong capital position, with ratios that exceed regulatory minimums required to be considered as “well-capitalized.”Under the Company’s approved stock repurchase program, a total of 89,109 shares of the Company common stock were repurchased during the first quarter of 2026 at an average price of $19.78 per share and a total value of $1,762,839.Preliminary tier one leverage ratio, tier one capital ratio, total risk-based capital ratio and common equity tier one capital ratio were 9.84%, 13.44%, 15.75%, and 12.53%, respectively, at March 31, 2026. First Quarter 2026 Results of Operations Net interest income, on a tax-equivalent basis, totaled $29.4 million for the first quarter ended March 31, 2026 compared to $21.1 million for the same period in 2025. Increases occurred in income on interest earning assets which was more than offset by a slight increase in interest bearing liabilities. Income on interest earning assets increased $9.3 million to $45.0 million for the first quarter of 2026 compared to the same period in 2025. Expense on interest bearing liabilities increased $1.1 million to $15.7 million for the first quarter of 2026 compared to the same period in 2025.Net interest margin for the first quarter of 2026 was 3.48% compared to 2.93% for the first quarter of 2025. This increase was impacted by the Company’s acquisition of TC Bancshares, Inc. in the fourth quarter of 2025, and in addition related to increases in interest earning asset yields period over period, as well as the decreased cost of funds.Noninterest income totaled $10.7 million for the first quarter of 2026, an increase of $1.6 million, or 18.2%, compared to the same period in 2025. Increases occurred in service charges on deposits, mortgage fee income, interchange fees, insurance commissions and an increase in wealth advisor income included in other noninterest income, partially offset by decreases in gains on sales of SBA loans.Noninterest expense totaled $27.7 million for the first quarter of 2026, compared to $20.2 million for the same period in 2025. This increase was a result of increases in salaries and employee benefits, occupancy and equipment, information technology expenses, professional fees, advertising and public relations, and acquisition expenses related to the acquisition of TC Bancshares, Inc. which occurred in the fourth quarter of 2025. Asset Quality Nonperforming assets totaled $19.9 million and $24.7 million at March 31, 2026 and December 31, 2025, respectively, a decrease of $4.8 million.Other real estate owned and repossessed assets totaled $2.1 million at March 31, 2026 and $1.2 million at December 31, 2025.Net loans charged-off were $1.7 million, or 0.29% of average loans for the first quarter of 2026, compared to $1.6 million, or 0.30% for the fourth quarter of 2025.The credit loss reserve was $21.7 million, or 0.90% of total loans, at March 31, 2026, compared to $23.0 million, or 0.97% of total loans at December 31, 2025. Earnings call information The Company will host an earnings conference call at 9:00 a.m. ET on Thursday, April 23, 2026, to discuss the recent results and answer relevant questions. The conference call can be accessed by dialing 1-800-715-9871 and using the Conference ID: 2679228. A replay of the call will be available until Thursday, April 30, 2026. To listen to the replay, dial 1-800-770-2030 and entering the passcode 2679228#. About Colony Bankcorp Colony Bankcorp, Inc. is the bank holding company for Colony Bank. Founded in Fitzgerald, Georgia in 1975, Colony operates locations throughout Georgia as well as in Birmingham, Alabama, and across North Florida, including Tallahassee, Jacksonville, and the Florida Panhandle. Colony Bank provides a consultative approach in offering a range of banking solutions for personal and business customers. In addition to traditional banking services, Colony Bank provides specialized solutions including mortgage lending, government-guaranteed lending, consumer insurance, wealth management, credit cards and merchant services. Colony Bankcorp’s common stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “CBAN.” For more information, please visit www.colony.bank. You can also follow the Company on social media. Forward-Looking Statements Certain statements contained in this press release that are not statements of historical fact constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, certain statements may be contained in the Company’s future filings with the Securities and Exchange Commission (the “SEC”), in press releases, and in oral and written statements made by or with the approval of the Company that are not statements of historical fact and constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Examples of forward-looking statements include, but are not limited to: (i) projections and/or expectations of revenues, income or loss, earnings or loss per share, the payment or nonpayment of dividends, capital structure and other financial items; (ii) statement of plans and objectives of Colony Bankcorp, Inc. or its management or Board of Directors, including those relating to products or services; (iii) statements of future economic performance; (iv) statements regarding growth strategy, capital management, liquidity and funding, and future profitability; (v) statements relating to the timing, benefits, costs, and synergies of the recently completed acquisition of TC Bancshares, Inc. (“TC Bancshares”) (the “Merger”), and (vi) statements of assumptions underlying such statements. Words such as “may”, “will”, “anticipate”, “assume”, “should”, “support”, “indicate”, “would”, “believe”, “contemplate”, “expect”, “estimate”, “continue”, “further”, “plan”, “point to”, “project”, “could”, “intend”, “target” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties. Factors that might cause such differences include, but are not limited to: the impact of current and future economic conditions, particularly those affecting the financial services industry, including the effects of declines in the real estate market, tariffs or trade wars (including the resulting reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), high unemployment rates, inflationary pressures, changes in interest rates (including the impact of volatile interest rates on our financial projections and models) and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing; the risk of reductions in benchmark interest rates and the resulting impacts on net interest income; potential impacts of adverse developments in the banking industry highlighted by high-profile bank failures, including impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto; risks arising from negative media coverage and perceived instability in the banking industry and the banking sector; the risks of changes in interest rates and their effects on the level, cost, and composition of, and competition for, deposits, loan demand and timing of payments, the values of loan collateral, securities, and interest sensitive assets and liabilities; the ability to attract new or retain existing deposits, to retain or grow loans or additional interest and fee income, or to control noninterest expense; the effect of pricing pressures on the Company’s net interest margin; the failure of assumptions underlying the establishment of reserves for possible credit losses, fair value for loans and other real estate owned; changes in real estate values; the Company’s ability to implement its various strategic and growth initiatives; increased competition in the financial services industry, particularly from regional and national institutions, as well as fintech companies and other non-bank financial service providers offering digital, automated or alternative financial products and services; economic conditions, either nationally or locally, in areas in which the Company conducts operations being less favorable than expected; changes in the prices, values and sales volumes of residential and commercial real estate; developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance; legislation or regulatory changes which adversely affect the ability of the consolidated Company to conduct business combinations or new operations; adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of the Company’s participation in and execution of government programs, those related to credit card interest rates, and legislative, regulatory or supervisory actions related to so-called “de-banking,” including any new prohibitions, requirements or enforcement priorities that could affect customer relationships, compliance obligations, or operational practices; significant turbulence or a disruption in the capital or financial markets and the effect of a fall in the stock market prices on our investment securities; significant volatility in the markets for equity, fixed income and other asset classes globally or within specific markets; the effects of war or other conflicts, including the ongoing conflicts in the Middle East; major political shifts domestically or internationally (including the potential for retaliatory actions by governments, market participants or clients based on diverging perspectives or otherwise and, separately, the recent shutdown of the U.S. federal government); general risks related to the Company’s merger and acquisition activity, including risks associated with integrating and realizing the expected financial benefits of previous or pending acquisitions, and the Company’s pursuit of future acquisitions; risks associated with the recent Merger, including the risk that the cost savings and any revenue synergies may not be realized or take longer than anticipated to be realized as well as disruption with customers, suppliers, employee or other business partners relationships; the risk of successful integration of TC Bancshares’ business into the Company; the reaction of each of the Company’s and TC Bancshares’ customers, suppliers, employees or other business partners to the Merger; the risk that the integration of TC Bancshares’ operations into the operations of the Company will be materially delayed or will be more costly or difficult than expected; the timing and achievement of expected cost reductions following the Merger; the timing and achievement of the recovery of the reduction of tangible book value resulting from the Merger; general competitive, economic, political, and market conditions; the impact of emerging technologies, such as generative artificial intelligence; fraud or misconduct by internal or external actors, and system failures, cybersecurity threats or security breaches and the cost of defending against them; a deterioration of the credit rating for U.S. long-term sovereign debt, actions that the U.S. government may take to avoid exceeding the debt ceiling, and uncertainties surrounding debt ceiling and the federal budget; and general competitive, economic, political and market conditions or other unexpected factors or events. These and other factors, risks and uncertainties could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Many of these factors are beyond the Company’s ability to control or predict. Forward-looking statements speak only as of the date on which such statements are made. These forward-looking statements are based upon information presently known to the Company’s management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in the Company’s filings with the Securities and Exchange Commission, the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, under the captions “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors,” and in the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements. Explanation of Certain Unaudited Non-GAAP Financial Measures The measures entitled operating noninterest income, operating noninterest expense, operating net income, operating earnings per diluted share, operating return on average assets, operating return on average equity, operating return on average tangible equity, tangible book value per common share, tangible equity to tangible assets, operating efficiency ratio, operating net noninterest expense to average assets and pre-provision net revenue are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. The most comparable GAAP measures are noninterest income, noninterest expense, net income, diluted earnings per share, return on average assets, return on average equity, book value per common share, total equity to total assets, efficiency ratio, net noninterest expense to average assets and net interest income before provision for credit losses, respectively. Operating noninterest income excludes loss on sales of securities. Operating noninterest expense excludes acquisition-related expenses, severance costs and loss related to wire fraud incident. Operating net income, operating return on average assets, operating return on average equity, operating return on average tangible equity and operating efficiency ratio all exclude acquisition-related expenses, severance costs, loss on sales of securities and loss related to wire fraud incident from net income, return on average assets, return on average equity and efficiency ratio, respectively. Operating net noninterest expense to average assets ratio excludes from net noninterest expense, severance costs, acquisition-related expenses, loss on sales of securities and loss related to wire fraud incident. Acquisition-related expenses includes fees associated with acquisitions and vendor contract buyouts. Severance costs includes costs associated with termination and retirement of employees. Operating earnings per diluted share includes the adjustments to operating net income. Tangible book value per common share, tangible equity to tangible assets and operating return on average tangible equity exclude goodwill and other intangibles from book value per common share, total equity to total assets and return on average equity, respectively. Pre-provision net revenue is calculated by adding noninterest income to net interest income before provision for credit losses, and subtracting noninterest expense. Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance, and if not provided would be requested by the investor community. The Company believes the non-GAAP measures enhance investors’ understanding of the Company’s business and performance. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might calculate these measures differently. These disclosures should not be considered an alternative to GAAP. The computations of operating noninterest income, operating noninterest expense, operating net income, operating earnings per diluted share, operating return on average assets, operating return on average equity, operating return on average tangible equity, tangible book value per common share, tangible equity to tangible assets, operating efficiency ratio, operating net noninterest expense to average assets and pre-provision net revenue and the reconciliation of these measures to noninterest income, noninterest expense, net income, diluted earnings per share, return on average assets, return on average equity, book value per common share, total equity to total assets, efficiency ratio, net noninterest expense to average assets and net interest income before provision for credit losses are set forth in the table below. Colony Bankcorp, Inc. Reconciliation of Non-GAAP Measures 2026 2025 First Fourth Third Second First (dollars in thousands, except per share data) Quarter Quarter Quarter Quarter Quarter Operating noninterest income reconciliation Noninterest income (GAAP) $ 10,692 $ 11,047 $ 10,091 $ 10,098 $ 9,044 Loss on sales of securities — — 1,039 — — Operating noninterest income $ 10,692 $ 11,047 $ 11,130 $ 10,098 $ 9,044 Operating noninterest expense reconciliation Noninterest expense (GAAP) $ 27,674 $ 25,709 $ 24,612 $ 22,004 $ 20,221 Acquisition-related expenses (1,637 ) (1,331 ) (732 ) — — Loss related to wire fraud incident — — (1,252 ) — — Operating noninterest expense $ 26,037 $ 24,378 $ 22,628 $ 22,004 $ 20,221 Operating net income reconciliation Net income (GAAP) $ 8,204 $ 7,843 $ 5,819 $ 7,978 $ 6,613 Acquisition-related expenses 1,637 1,331 732 — — Loss related to wire fraud incident — — 1,252 — — Loss on sales of securities — — 1,039 — — Income tax benefit (356 ) (269 ) (612 ) — — Operating net income $ 9,485 $ 8,905 $ 8,230 $ 7,978 $ 6,613 Weighted average diluted shares 21,222,237 18,729,511 17,461,434 17,448,945 17,509,059 Operating earnings per diluted share $ 0.45 $ 0.48 $ 0.47 $ 0.46 $ 0.38 Operating return on average assets reconciliation Return on average assets (GAAP) 0.90 % 0.93 % 0.75 % 1.02 % 0.85 Acquisition-related expenses 0.18 0.15 0.10 — — Loss related to wire fraud incident — — 0.16 — — Loss on sales of securities — — 0.13 — — Tax effect of adjustment items (0.04 ) (0.03 ) (0.08 ) — — Operating return on average assets 1.04 % 1.05 % 1.06 % 1.02 % 0.85 Operating return on average equity reconciliation Return on average equity (GAAP) 8.77 % 9.49 % 7.80 % 11.14 % 9.63 Acquisition-related expenses 1.74 1.62 0.98 — — Loss related to wire fraud incident — — 1.68 — — Loss on sales of securities — — 1.39 — — Tax effect of adjustment items (0.38 ) (0.33 ) (0.82 ) — — Operating return on average equity 10.13 % 10.78 % 11.03 % 11.14 % 9.63 Colony Bankcorp, Inc. Reconciliation of Non-GAAP Measures 2026 2025 First Fourth Third Second First (dollars in thousands, except per share data) Quarter Quarter Quarter Quarter Quarter Operating return on average tangible equity reconciliation Return on average tangible equity 10.80 % 11.63 % 9.56 % 13.70 % 11.83 % Acquisition-related expenses 2.16 1.97 1.20 — — Loss related to wire fraud incident — — 2.06 — — Loss on sales of securities — — 1.71 — — Tax effect of adjustment items (0.47 ) (0.40 ) (1.01 ) — — Operating return on average tangible equity 12.49 % 13.20 % 13.52 % 13.70 % 11.83 % Tangible book value per common share reconciliation Book value per common share (GAAP) $ 17.98 $ 17.69 $ 17.31 $ 16.87 $ 16.41 Effect of goodwill and other intangibles (3.33 ) (3.38 ) (3.11 ) (3.14 ) (2.95 ) Tangible book value per common share $ 14.65 $ 14.31 $ 14.20 $ 13.73 $ 13.46 Tangible equity to tangible assets reconciliation Equity to assets (GAAP) 10.22 % 10.06 % 9.59 % 9.43 % 9.05 % Effect of goodwill and other intangibles (1.73 ) (1.76 ) (1.59 ) (1.62 ) (1.51 ) Tangible equity to tangible assets 8.49 % 8.30 % 8.00 % 7.81 % 7.54 % Operating efficiency ratio calculation Efficiency ratio (GAAP) 69.37 % 69.65 % 75.06 % 67.74 % 67.41 % Acquisition-related expenses (4.10 ) (3.61 ) (1.98 ) — — Loss related to wire fraud incident — — (3.38 ) — — Loss on sales of securities — — (2.81 ) — — Operating efficiency ratio 65.27 % 66.04 % 66.89 % 67.74 % 67.41 % Operating net noninterest expense(1) to average assets calculation Net noninterest expense to average assets 1.86 % 1.73 % 1.86 % 1.52 % 1.44 % Acquisition-related expenses (0.18 ) (0.15 ) (0.09 ) — — Loss related to wire fraud incident — — (0.16 ) — — Loss on sales of securities — — (0.13 ) — — Operating net noninterest expense to average assets 1.68 % 1.58 % 1.48 % 1.52 % 1.44 % Pre-provision net revenue Net interest income before provision for credit losses $ 29,203 $ 25,865 $ 22,699 $ 22,385 $ 20,952 Noninterest income 10,692 11,047 10,091 10,098 9,044 Total income 39,895 36,912 32,790 32,483 29,996 Noninterest expense 27,674 25,709 24,612 22,004 20,221 Pre-provision net revenue $ 12,221 $ 11,203 $ 8,178 $ 10,479 $ 9,775 Operating pre-provision net revenue Net interest income before provision for credit losses $ 29,203 $ 25,865 $ 22,699 $ 22,385 $ 20,952 Operating noninterest income 10,692 11,047 11,130 10,098 9,044 Total operating income 39,895 36,912 33,829 32,483 29,996 Operating noninterest expense 26,037 24,378 22,628 22,004 20,221 Operating pre-provision net revenue $ 13,858 $ 12,534 $ 11,201 $ 10,479 $ 9,775 (1) Net noninterest expense is defined as noninterest expense less noninterest income. Colony Bankcorp, Inc. Selected Financial Information 2026 2025 First Fourth Third Second First (dollars in thousands, except per share data) Quarter Quarter Quarter Quarter Quarter EARNINGS SUMMARY Net interest income $ 29,203 $ 25,865 $ 22,699 $ 22,385 $ 20,952 Provision for credit losses 1,750 1,650 900 450 1,500 Noninterest income 10,692 11,047 10,091 10,098 9,044 Noninterest expense 27,674 25,709 24,612 22,004 20,221 Income taxes 2,267 1,710 1,459 2,051 1,662 Net income $ 8,204 $ 7,843 $ 5,819 $ 7,978 $ 6,613 PER COMMON SHARE Common shares outstanding 21,162,104 21,251,695 17,461,284 17,416,702 17,481,709 Weighted average basic shares 21,222,237 18,729,511 17,461,434 17,448,945 17,509,059 Weighted average diluted shares 21,222,237 18,729,511 17,461,434 17,448,945 17,509,059 Earnings per basic share $ 0.39 $ 0.42 $ 0.33 $ 0.46 $ 0.38 Earnings per diluted share 0.39 0.42 0.33 0.46 0.38 Operating earnings per diluted share(b) 0.45 0.48 0.47 0.46 0.38 Cash dividends declared per share 0.1200 0.1150 0.1150 0.1150 0.1150 Common book value per share 17.98 17.69 17.31 16.87 16.41 Tangible book value per common share(b) 14.65 14.31 14.20 13.73 13.46 Pre-provision net revenue(b) 12,221 11,203 8,178 10,479 9,775 SELECTED PERFORMANCE RATIOS: Return on average assets 0.90 % 0.93 % 0.75 % 1.02 % 0.85 % Return on average total equity 8.77 9.49 7.80 11.14 9.63 Return on average tangible equity 10.80 11.63 9.56 13.70 11.83 Efficiency ratio 69.37 69.65 75.06 67.74 67.41 Net noninterest expense to average assets 1.86 1.73 1.86 1.52 1.44 Total equity to total assets 10.22 10.06 9.59 9.43 9.05 Tangible equity to tangible assets (b) 8.49 8.30 8.00 7.81 7.54 Net interest margin (a) 3.48 3.32 3.17 3.12 2.93 OPERATING SELECTED PERFORMANCE RATIOS: Operating return on average assets(b) 1.04 % 1.05 % 1.06 % 1.02 % 0.85 % Operating return on average total equity(b) 10.13 10.78 11.03 11.14 9.63 Operating return on average tangible equity(b) 12.49 13.20 13.52 13.70 11.83 Operating efficiency ratio(b) 65.27 66.04 66.89 67.74 67.41 Operating net noninterest expense to average assets(b) 1.68 1.58 1.48 1.52 1.44 Colony Bankcorp, Inc. Selected Financial Information 2026 2025 First Fourth Third Second First (dollars in thousands, except per share data) Quarter Quarter Quarter Quarter Quarter ASSET QUALITY Nonperforming portfolio loans $ 12,619 $ 17,190 $ 9,082 $ 4,760 $ 7,538 Nonperforming SBA government loans-guaranteed portion 2,012 4,772 4,076 4,583 3,647 Nonperforming SBA government loans-unguaranteed portion 2,968 1,418 1,110 1,241 1,271 Loans 90 days past due and still accruing 178 95 98 107 22 Total nonperforming loans (NPLs) 17,777 23,475 14,366 10,691 12,478 Other real estate owned 1,873 1,048 710 710 522 Repossessed assets 205 190 160 21 6 Total nonperforming assets (NPAs) 19,855 24,713 15,236 11,422 13,006 Classified loans 39,225 40,481 24,183 25,112 26,453 Criticized loans 86,740 84,721 60,505 54,814 55,823 Net loan charge-offs (recoveries) 1,709 1,600 1,827 1,049 606 Allowance for credit losses to total loans 0.90 % 0.97 % 0.89 % 0.96 % 1.04 % Allowance for credit losses to total NPLs 122.10 98.04 125.89 179.15 160.26 Allowance for credit losses to total NPAs 109.32 93.13 118.71 167.69 153.75 Net charge-offs (recoveries) to average loans, net 0.29 0.30 0.36 0.21 0.13 NPLs to total loans 0.74 0.99 0.71 0.54 0.65 NPAs to total assets 0.53 0.66 0.48 0.37 0.41 NPAs to total loans and foreclosed assets 0.82 1.04 0.75 0.57 0.68 ACTUAL BALANCES Total assets $ 3,720,613 $ 3,735,401 $ 3,152,746 $ 3,115,617 $ 3,171,825 Loans held for sale 16,536 78,990 19,286 22,163 24,844 Loans, net of unearned income 2,413,465 2,381,224 2,037,056 1,993,580 1,921,263 Deposits 3,048,419 3,067,521 2,584,329 2,556,230 2,622,531 Total stockholders’ equity 380,403 375,920 302,332 293,857 286,925 AVERAGE BALANCES Total assets $ 3,698,663 $ 3,357,785 $ 3,092,411 $ 3,138,125 $ 3,149,321 Loans held for sale 21,863 59,868 17,062 22,495 23,253 Loans, net of unearned income 2,399,971 2,148,729 2,024,153 1,960,025 1,869,476 Deposits 3,025,462 2,752,576 2,526,739 2,586,620 2,606,706 Total stockholders’ equity 379,582 327,830 296,027 287,325 278,551 (a) Computed using fully taxable-equivalent net income. (b) Non-GAAP measure - see “Explanation of Certain Unaudited Non-GAAP Financial Measures” for more information and reconciliation to GAAP. Colony Bankcorp, Inc. Average Balance Sheet and Net Interest Analysis Three Months Ended March 31, 2026 2025 Average Income/ Yields/ Average Income/ Yields/ (dollars in thousands) Balances Expense Rates Balances Expense Rates Assets Interest-earning assets: Loans held for sale $ 21,863 $ 454 8.42 % $ 23,253 $ 328 5.73 % Loans, net of unearned income1 2,399,971 37,568 6.35 % 1,869,476 27,716 6.01 % Investment securities, taxable 668,824 4,537 2.75 % 710,293 4,837 2.76 % Investment securities, tax-exempt2 94,588 489 2.10 % 94,379 494 2.12 % Deposits in banks and short term investments 240,446 1,993 3.36 % 229,016 2,322 4.11 % Total interest-earning assets 3,425,692 45,041 5.33 % 2,926,417 35,697 4.95 % Noninterest-earning assets 272,972 222,904 Total assets $ 3,698,663 $ 3,149,321 Liabilities and stockholders’ equity Interest-bearing liabilities: Interest-bearing demand and savings $ 1,725,632 $ 5,951 1.40 % $ 1,549,509 $ 6,468 1.69 % Other time 812,531 6,863 3.43 % 601,920 5,305 3.57 % Total interest-bearing deposits 2,538,163 12,814 2.05 % 2,151,429 11,773 2.22 % Federal funds purchased 0 — — % — — — % Federal Home Loan Bank advances 195,000 1,985 4.13 % 185,000 1,873 4.10 % Other borrowings 63,141 888 5.71 % 63,048 927 5.97 % Total other interest-bearing liabilities 258,141 2,873 4.51 % 248,048 2,800 4.58 % Total interest-bearing liabilities 2,796,304 15,687 2.28 % 2,399,477 14,573 2.46 % Noninterest-bearing liabilities: Demand deposits 487,299 $ 455,277 Other liabilities 35,479 16,016 Stockholders’ equity 379,582 278,551 Total noninterest-bearing liabilities and stockholders’ equity 902,360 749,844 Total liabilities and stockholders’ equity $ 3,698,663 $ 3,149,321 Interest rate spread 3.05 % 2.49 % Net interest income $ 29,354 $ 21,124 Net interest margin 3.48 % 2.93 % 1 The average balance of loans includes the average balance of nonaccrual loans. Income on such loans is recognized and recorded on the cash basis. Taxable-equivalent adjustments totaling $48,000 and $68,000 for the quarters ended March 31, 2026 and 2025, respectively, are calculated using the statutory federal tax rate and are included in income and fees on loans. Accretion income of $1.3 million and $20,000 for the quarters ended March 31, 2026 and 2025, respectively, are also included in income and fees on loans. 2 Taxable-equivalent adjustments totaling $103,000 and $104,000 for the quarters ended March 31, 2026 and 2025, respectively, are calculated using the statutory federal tax rate and are included in tax-exempt interest on investment securities. Colony Bankcorp, Inc. Segment Reporting 2026 2025 First Fourth Third Second First (dollars in thousands) Quarter Quarter Quarter Quarter Quarter Banking Division Net interest income $ 28,223 $ 24,781 $ 21,629 $ 21,319 $ 19,989 Provision for credit losses 780 776 (371 ) (330 ) 1,221 Noninterest income 7,131 6,996 6,144 5,969 5,774 Noninterest expenses 24,420 22,502 21,075 18,269 16,790 Income taxes 2,194 1,493 1,413 1,908 1,551 Segment income $ 7,960 $ 7,006 $ 5,656 $ 7,441 $ 6,201 Total segment assets $ 3,619,249 $ 3,625,785 $ 3,046,699 $ 3,010,416 $ 3,065,385 Full time employees 426 447 383 390 366 Mortgage Banking Division Net interest income $ 38 $ 65 $ 62 $ 44 $ 53 Provision for credit losses — — — — — Noninterest income 1,886 2,012 1,851 1,984 1,579 Noninterest expenses 1,702 1,695 2,066 1,710 1,601 Income taxes 52 81 (27 ) 69 10 Segment income $ 170 $ 301 $ (126 ) $ 249 $ 21 Total segment assets $ 12,036 $ 13,648 $ 12,959 $ 14,296 $ 16,041 Variable noninterest expense(1) $ 597 $ 984 $ 1,229 $ 1,157 $ 880 Fixed noninterest expense 1,105 711 837 553 721 Full time employees 48 48 46 43 42 Small Business Specialty Lending Division Net interest income $ 942 $ 1,019 $ 1,008 $ 1,022 $ 910 Provision for credit losses 970 874 1,271 780 279 Noninterest income 1,675 2,039 2,096 2,145 1,691 Noninterest expenses 1,552 1,512 1,471 2,025 1,830 Income taxes 21 136 73 74 101 Segment income $ 74 $ 536 $ 289 $ 288 $ 391 Total segment assets $ 89,328 $ 95,968 $ 93,088 $ 90,905 $ 90,399 Full time employees 32 31 31 34 35 Total Consolidated Net interest income $ 29,203 $ 25,865 $ 22,699 $ 22,385 $ 20,952 Provision for credit losses 1,750 1,650 900 450 1,500 Noninterest income 10,692 11,047 10,091 10,098 9,044 Noninterest expenses 27,674 25,709 24,612 22,004 20,221 Income taxes 2,267 1,710 1,459 2,051 1,662 Segment income $ 8,204 $ 7,843 $ 5,819 $ 7,978 $ 6,613 Total segment assets $ 3,720,613 $ 3,735,401 $ 3,152,746 $ 3,115,617 $ 3,171,825 Full time employees 506 526 460 467 443 (1) Variable noninterest expense includes commission based salary expenses and volume based loan related fees. Colony Bankcorp, Inc. Consolidated Balance Sheets March 31, 2026 December 31, 2025 (dollars in thousands) (unaudited) (audited) ASSETS Cash and due from banks $ 24,349 $ 27,307 Interest-bearing deposits in banks and federal funds sold 271,457 230,333 Cash and cash equivalents 295,806 257,640 Investment securities available for sale, at fair value 375,340 383,817 Investment securities held to maturity, at amortized cost 371,918 386,618 Other investments 19,286 19,176 Loans held for sale 16,536 78,990 Loans, net of unearned income 2,413,465 2,381,224 Allowance for credit losses (21,705 ) (23,014 ) Loans, net 2,391,760 2,358,210 Premises and equipment 36,842 37,045 Other real estate owned 1,873 1,048 Goodwill 63,047 63,873 Other intangible assets 7,396 7,851 Bank owned life insurance 68,936 68,457 Deferred income taxes, net 18,804 19,582 Other assets 53,069 53,094 Total assets $ 3,720,613 $ 3,735,401 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities: Deposits: Noninterest-bearing $ 495,234 $ 526,803 Interest-bearing 2,553,185 2,540,718 Total deposits 3,048,419 3,067,521 Federal Home Loan Bank advances 194,981 194,972 Other borrowed money 63,156 63,132 Accrued expenses and other liabilities 33,654 33,856 Total liabilities 3,340,210 3,359,481 Stockholders’ equity Common stock, $1 par value; 50,000,000 shares authorized, 21,162,104 and 21,251,695 issued and outstanding, respectively 21,162 21,252 Paid in capital 227,071 228,577 Retained earnings 166,237 160,584 Accumulated other comprehensive loss, net of tax (34,067 ) (34,493 ) Total stockholders’ equity 380,403 375,920 Total liabilities and stockholders’ equity $ 3,720,613 $ 3,735,401 Colony Bankcorp, Inc. Consolidated Statements of Income (unaudited) Three months ended March 31, 2026 2025 (dollars in thousands, except per share data) Interest income: Loans, including fees $ 37,974 $ 27,976 Investment securities 4,923 5,227 Deposits in banks and short term investments 1,993 2,322 Total interest income 44,890 35,525 Interest expense: Deposits 12,814 11,773 Federal Home Loan Bank advances 1,985 1,873 Other borrowings 888 927 Total interest expense 15,687 14,573 Net interest income 29,203 20,952 Provision for credit losses 1,750 1,500 Net interest income after provision for credit losses 27,453 19,452 Noninterest income: Service charges on deposits 2,561 2,172 Mortgage fee income 1,935 1,579 Gain on sales of SBA loans 962 1,035 Interchange fees 2,186 1,938 BOLI income 477 396 Insurance commissions 844 469 Other 1,727 1,455 Total noninterest income 10,692 9,044 Noninterest expense: Salaries and employee benefits 15,923 11,905 Occupancy and equipment 1,957 1,580 Acquisition related 1,637 — Information technology expenses 2,774 2,477 Professional fees 1,120 748 Advertising and public relations 1,106 805 Communications 224 205 Other 2,933 2,501 Total noninterest expense 27,674 20,221 Income before income taxes 10,471 8,275 Income taxes 2,267 1,662 Net income $ 8,204 $ 6,613 Earnings per common share: Basic $ 0.39 $ 0.38 Diluted 0.39 0.38 Dividends declared per share 0.1200 0.1150 Weighted average common shares outstanding: Basic 21,222,237 17,509,059 Diluted 21,222,237 17,509,059 Colony Bankcorp, Inc. Quarterly Consolidated Statements of Income 2026 2025 First Fourth Third Second First Quarter Quarter Quarter Quarter Quarter (dollars in thousands, except per share data) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) Interest income: Loans, including fees $ 37,974 $ 34,461 $ 31,535 $ 30,361 $ 27,976 Investment securities 4,923 4,543 4,518 5,148 5,227 Deposits in banks and short term investments 1,993 1,696 839 1,326 2,322 Total interest income 44,890 40,700 36,892 36,835 35,525 Interest expense: Deposits 12,814 11,973 11,332 11,632 11,773 Federal Home Loan Bank advances 1,985 1,947 1,909 1,889 1,873 Other borrowings 888 915 952 929 927 Total interest expense 15,687 14,835 14,193 14,450 14,573 Net interest income 29,203 25,865 22,699 22,385 20,952 Provision for credit losses 1,750 1,650 900 450 1,500 Net interest income after provision for credit losses 27,453 24,215 21,799 21,935 19,452 Noninterest income: Service charges on deposits 2,561 2,664 2,640 2,219 2,172 Mortgage fee income 1,935 2,121 1,851 1,984 1,579 Gain on sales of SBA loans 962 1,376 1,411 1,550 1,035 Loss on sales of securities — — (1,039 ) — — Interchange fees 2,186 2,154 2,273 2,073 1,938 BOLI income 477 577 396 423 396 Insurance commissions 844 755 874 766 469 Other 1,727 1,400 1,685 1,083 1,455 Total noninterest income 10,692 11,047 10,091 10,098 9,044 Noninterest expense: Salaries and employee benefits 15,923 14,115 13,532 12,865 11,905 Occupancy and equipment 1,957 1,758 1,732 1,683 1,580 Acquisition related 1,637 1,331 732 — — Information technology expenses 2,774 2,903 2,680 2,592 2,477 Professional fees 1,120 1,019 998 742 748 Advertising and public relations 1,106 1,402 1,130 942 805 Communications 224 194 218 188 205 Other 2,933 2,987 3,590 2,992 2,501 Total noninterest expense 27,674 25,709 24,612 22,004 20,221 Income before income taxes 10,471 9,553 7,278 10,029 8,275 Income taxes 2,267 1,710 1,459 2,051 1,662 Net income $ 8,204 $ 7,843 $ 5,819 $ 7,978 $ 6,613 Earnings per common share: Basic $ 0.39 $ 0.42 $ 0.33 $ 0.46 $ 0.38 Diluted 0.39 0.42 0.33 0.46 0.38 Dividends declared per share 0.1200 0.1150 0.1150 0.1150 0.1150 Weighted average common shares outstanding: Basic 21,222,237 18,729,511 17,461,434 17,448,945 17,509,059 Diluted 21,222,237 18,729,511 17,461,434 17,448,945 17,509,059 Colony Bankcorp, Inc. Quarterly Deposits Composition Comparison 2026 2025 First Fourth Third Second First (dollars in thousands) Quarter Quarter Quarter Quarter Quarter Noninterest-bearing demand $ 495,234 $ 526,803 $ 442,142 $ 434,785 $ 449,818 Interest-bearing demand 927,768 932,262 811,031 838,540 873,156 Savings and money markets 806,434 787,811 644,312 667,135 689,446 Time over $250,000 237,311 239,175 192,545 193,427 189,466 Other time 581,672 581,470 494,299 422,343 420,645 Total $ 3,048,419 $ 3,067,521 $ 2,584,329 $ 2,556,230 $ 2,622,531 Colony Bankcorp, Inc. Quarterly Deposits by Location Comparison 2026 2025 First Fourth Third Second First (dollars in thousands) Quarter Quarter Quarter Quarter Quarter Augusta $ 22,496 $ 18,387 $ — $ — $ — Florida 167,406 157,056 — — — Coastal Georgia 129,957 141,013 127,587 138,838 142,230 Middle Georgia 266,574 262,075 259,934 277,880 283,149 Atlanta and North Georgia 311,159 335,762 315,822 344,329 333,845 South Georgia 1,421,164 1,431,775 1,205,891 1,203,732 1,249,192 West Georgia 328,077 326,054 341,056 325,946 335,438 Brokered deposits 136,894 131,906 130,000 59,494 59,499 Reciprocal deposits 264,692 263,493 204,039 206,011 219,178 Total $ 3,048,419 $ 3,067,521 $ 2,584,329 $ 2,556,230 $ 2,622,531 Colony Bankcorp, Inc. Quarterly Loan Comparison 2026 2025 First Fourth Third Second First (dollars in thousands) Quarter Quarter Quarter Quarter Quarter Core $ 1,940,583 $ 1,885,200 $ 1,935,648 $ 1,887,456 $ 1,808,879 Purchased 472,882 496,024 101,408 106,124 112,384 Loans, net of unearned income $ 2,413,465 $ 2,381,224 $ 2,037,056 $ 1,993,580 $ 1,921,263 Colony Bankcorp, Inc. Quarterly Loans by Composition Comparison 2026 2025 First Fourth Third Second First (dollars in thousands) Quarter Quarter Quarter Quarter Quarter Construction, land & land development $ 309,161 $ 302,512 $ 240,819 $ 238,078 $ 208,872 Other commercial real estate 1,240,210 1,249,720 1,064,984 1,059,149 1,052,967 Total commercial real estate 1,549,371 1,552,232 1,305,803 1,297,227 1,261,839 Residential real estate 483,247 459,549 377,058 356,515 345,521 Commercial, financial & agricultural 220,933 218,532 213,274 212,872 213,355 Consumer and other 159,914 150,911 140,921 126,966 100,548 Loans, net of unearned income $ 2,413,465 $ 2,381,224 $ 2,037,056 $ 1,993,580 $ 1,921,263 Colony Bankcorp, Inc. Quarterly Loans by Location Comparison 2026 2025 First Fourth Third Second First (dollars in thousands) Quarter Quarter Quarter Quarter Quarter Alabama $ 49,546 $ 47,971 $ 48,351 $ 50,856 $ 52,183 Florida 238,262 236,810 26,061 24,562 19,490 Augusta 84,548 85,072 92,988 95,246 91,758 Coastal Georgia 355,350 358,271 263,763 253,177 230,242 Middle Georgia 115,385 121,276 120,601 125,435 130,302 Atlanta and North Georgia 455,197 456,593 463,007 445,921 441,323 South Georgia 512,651 462,085 403,192 408,954 398,295 West Georgia 186,661 174,626 172,688 168,968 168,851 Small Business Specialty Lending 83,288 84,928 84,999 81,242 79,517 Consumer Portfolio Mortgages 236,984 263,385 270,941 262,846 251,816 Marine/RV Lending 94,775 88,852 88,968 75,649 55,033 Other 818 1,355 1,497 724 2,453 Loans, net of unearned income $ 2,413,465 $ 2,381,224 $ 2,037,056 $ 1,993,580 $ 1,921,263 Colony Bankcorp, Inc. Classified Loans 2026 2025 First Fourth Third Second First (dollars in thousands) Quarter Quarter Quarter Quarter Quarter $ # $ # $ # $ # $ # Construction, land & land development $ 214 8 $ 1,438 10 $ 1,644 8 $ 126 4 $ 126 4 Other commercial real estate 23,966 52 22,871 52 12,973 45 16,687 48 18,578 51 Residential real estate 6,160 95 6,115 92 1,503 75 1,222 73 1,670 76 Commercial, financial & agricultural 8,655 107 9,857 109 7,947 90 7,071 64 6,077 58 Consumer and other 230 32 200 34 116 27 6 25 2 25 TOTAL $ 39,225 294 $ 40,481 297 $ 24,183 245 $ 25,112 214 $ 26,453 214 Classified loans to total loans 1.63 % 1.70 % 1.19 % 1.26 % 1.38 % Colony Bankcorp, Inc. Criticized Loans 2026 2025 First Fourth Third Second First (dollars in thousands) Quarter Quarter Quarter Quarter Quarter $ # $ # $ # $ # $ # Construction, land & land development $ 6,574 34 $ 17,605 13 $ 14,393 12 $ 2,207 10 $ 4,028 11 Other commercial real estate 54,522 69 40,073 71 24,934 60 30,034 69 28,869 70 Residential real estate 12,522 103 11,515 99 6,528 81 7,224 79 8,289 83 Commercial, financial & agricultural 12,892 114 15,197 120 14,403 99 15,212 85 14,501 82 Consumer and other 230 32 331 35 247 28 137 26 136 26 TOTAL $ 86,740 352 $ 84,721 338 $ 60,505 280 $ 54,814 269 $ 55,823 272 Criticized loans to total loans 3.59 % 3.56 % 2.97 % 2.75 % 2.91 % For additional information, contact: Derek Shelnutt EVP & Chief Financial Officer 229-426-6000, extension 6119 Source: Colony Bankcorp, Inc.