Colony Bankcorp, Inc. reported a net income of $7.98 million, or $0.46 per diluted share, for the second quarter of 2025, marking a significant increase from $5.47 million, or $0.31 per diluted share, in the same period of 2024. For the first half of 2025, the company achieved a net income of $14.59 million, or $0.83 per diluted share, compared to $10.81 million, or $0.62 per diluted share, in the first half of 2024. The growth in profitability was primarily driven by increased interest income from loans and investment securities, alongside a slight decrease in interest expenses.
Total interest income for the second quarter of 2025 rose to $36.84 million, up from $33.34 million in the prior year, while interest expenses decreased to $14.45 million from $14.93 million. This resulted in a net interest income of $22.39 million for the quarter, compared to $18.41 million in the same quarter of 2024. The provision for credit losses was $450,000 for the second quarter of 2025, down from $650,000 in the same quarter of the previous year, reflecting improved credit quality and management's confidence in the loan portfolio.
Colony Bankcorp's total assets remained stable at approximately $3.12 billion as of June 30, 2025, compared to $3.11 billion at the end of 2024. The company reported total loans of $1.99 billion, an increase of $150.6 million, or 8.17%, from $1.84 billion at the end of 2024. The loan portfolio is heavily concentrated in commercial real estate, which accounted for about 65.1% of total loans. The allowance for credit losses on loans was $19.15 million, or 0.96% of total loans, slightly down from 1.01% at the end of 2024.
In terms of strategic developments, Colony Bankcorp announced a merger agreement with TC Bancshares, Inc. on July 23, 2025, valued at approximately $86.1 million. This merger is expected to enhance the company's asset base to approximately $3.8 billion and is projected to be immediately accretive to earnings per share, excluding transaction costs. The merger is subject to regulatory approval and is anticipated to close in the fourth quarter of 2025.
Looking ahead, Colony Bankcorp remains optimistic about its growth trajectory, bolstered by the anticipated benefits of the merger and a stable economic environment. The company continues to focus on maintaining strong liquidity and capital ratios, with a common equity tier 1 capital ratio of 12.34% as of June 30, 2025, well above the regulatory minimum. Management believes that the current economic conditions will support continued loan growth and profitability, while also monitoring potential risks associated with credit quality and market fluctuations.
About COLONY BANKCORP INC
Colony Bankcorp, Inc. is a Georgia-based bank holding company operating through its wholly-owned subsidiary, Colony Bank. It provides a wide range of retail and commercial banking services, including loans, deposits, treasury solutions, and digital banking. Serving communities in Georgia, Alabama, and Florida, it focuses on small to mid-sized businesses, emphasizing customer relationships, service quality, and community engagement within a regulated financial framework.
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