Colony Bankcorp Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended of December 31, 2018
January 17, 2019 at 09:05 pm
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Colony Bankcorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended of December 31, 2018. For the quarter, the company reported net interest income of $10,398,000 compared to $9,923,000 a year ago. Interest income was $12,852,000 compared to $11,680,000 a year ago. Income before income taxes was $3,701,000 compared to $3,932,000 a year ago. Net income was $2,965,000 compared to $579,000 a year ago. Basic net income per share was $0.35 compared to $0.07 a year ago.
For the full year, the company reported net interest income of $40,797,000 compared to $39,044,000 a year ago. Interest income was $49,022,000 compared to $45,917,000 a year ago. Income before income taxes was $14,917,000 compared to $14,528,000 a year ago. Net income was $11,917,000 compared to $7,751,000 a year ago. Basic net income per share was $1.41 compared to $0.89 a year ago. Diluted net income per share was $1.40 compared to $0.87 a year ago.
Colony Bankcorp, Inc. is a financial service and a bank holding company. The Companyâs business is conducted through its bank subsidiary, Colony Bank (the Bank), a Georgia state-chartered commercial bank. The Bank provides a range of banking services to its retail and commercial customers. The Company operates through three segments: Banking Division, Retail Mortgage Division and Small Business Specialty Lending Division. The Banking Division delivers full service financial services, including commercial loans, consumer loans and deposit accounts. The Retail Mortgage Division offers services for one-to-four family residential mortgage loans. The Small Business Specialty Lending Division offers small business administration and United States Department of Agriculture (USDA) government guaranteed loans. Its product line includes loans to small and medium-sized businesses, residential and commercial construction and land development loans, commercial real estate loans and others.