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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q/A
QUARTERLY REPORT UNDER SECTION 13 OR 15 (D) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR QUARTER ENDED JUNE 30, 1999 COMMISSION FILE NUMBER 0-12436
COLONY BANKCORP, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
GEORGIA 58-1492391
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(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NUMBER)
115 SOUTH GRANT STREET, FITZGERALD, GEORGIA 31750
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ADDRESS OF PRINCIPAL EXECUTIVE OFFICES
912/426-6000
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REGISTRANT'S TELEPHONE NUMBER INCLUDING AREA CODE
INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED REPORTS REQUIRED TO
BE FILED BY SECTIONS 13 OR 15(D) OF THE SECURITIES ACT OF 1934 DURING THE
PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS REQUIRED
TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH FILING REQUIREMENTS FOR
THE PAST 90 DAYS.
YES X NO
INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES OF
COMMON STOCK, AS OF THE CLOSE OF THE PERIOD BY THIS REPORT.
CLASS OUTSTANDING AT JUNE 30, 1999
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COMMON STOCK, $1 PAR VALUE 4,435,026
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COLONY BANKCORP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
JUNE 30, 1999 AND DECEMBER 31, 1998
(UNAUDITED)
(DOLLARS IN THOUSANDS)
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<CAPTION>
ASSETS June 30, 1999 December 31, 1998
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<S> <C> <C>
Cash and Balances Due from Depository
Institutions (Note 2) $ 17,593 $ 12,265
Federal Funds Sold 11,390 27,795
Investment Securities
Available for Sale, at Fair Value 65,120 70,240
Held to Maturity, at Cost (Fair Value of $1,097 and
$1,537 respectively) (Note 3) 1,126 1,558
Loans (Notes 4 and 5) 288,992 252,869
Allowance for Loan Losses (4,383) (4,726)
Unearned Interest and Fees (2) (5)
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Total Loans 284,607 248,138
Premises and Equipment (Note 6) 12,347 11,686
Other Real Estate 1,239 907
Other Assets 8,126 8,759
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Total Assets $ 401,548 $ 381,348
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LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Noninterest-Bearing $ 29,752 $ 29,216
Interest-Bearing (Note 8) 317,768 301,530
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Total Deposits 347,520 330,746
Borrowed Money:
Federal Funds Purchased 3,590 0
Other Borrowed Money (Note 9) 13,326 14,521
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Total Borrowed Money 16,916 14,521
Other Liabilities 3,073 2,985
Commitments and Contingencies (Note 11)
Stockholders' Equity:
Common Stock, Par Value $1 & $10, respectively. Authorized
20,000,000 and 5,000,000 shares, Issued 4,435,026 and 2,217,573
shares as of June 30, 1999 and December 31, 1998, respectively* 4,435 22,175
Paid-In Capital 19,320 1,580
Retained Earnings 11,246 9,425
Accumulated Other Comprehensive Income, Net of Tax (962) (84)
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Total Stockholders' Equity 34,039 33,096
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Total Liabilities and Stockholders' Equity $ 401,548 $ 381,348
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*Par Value was reduced from $10 to $1 per share by Board of Director action on
February 16, 1999.
The accompanying notes are an integral part of these balance sheets.
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dissemination, trade reporting and order execution systems. This market also
provides specialized automation services for screen-based negotiations of
transactions, on-line comparison of transactions, and a range of informational
services tailored to the needs of the securities industry, investors and
issuers. The Nasdaq Stock Market is operated by The Nasdaq Stock Market, Inc., a
wholly-owned subsidiary of the National Association of Securities Dealers, Inc.
PART II - OTHER INFORMATION
ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
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The Annual Meeting of the Shareholders of the Company was held on April 27,
1999. At the Annual Meeting of the Shareholders, proxies were solicited under
Regulation 14 of the Securities and Exchange Act of 1934. Total shares amount to
4,435,026. A total of 3,016,167.5 shares (68%) were represented by shareholders
in attendance or by proxy. The following directors were elected by yes votes
totaling 3,013,629.5 and no votes totaling 2,538 shares to serve one year until
the next annual meeting:
Marion H. Massee, III Ben B. Mills, Jr.
Terry L. Coleman James D. Minix
L. Morris Downing, Jr. Ralph D. Roberts
Terry L. Hester W. B. Roberts, Jr.
Milton N. Hopkins, Jr. R. Sidney Ross
Harold E. Kimball Joe Shiver
Curtis A. Summerlin
Other matters voted upon by the shareholders was a proposal to amend the
articles of incorporation of the Company to increase the number of authorized
shares of $1.00 par value common stock of the Company to twenty million shares
from five million shares. This proposal passed with 3,005,168.5 voting for,
6,042 voting against and 4,957 abstaining.
No other matters were voted upon by the shareholders.
ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K
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A. Exhibits - None
B. There have been no reports filed on Form 8-K for the quarter ended June 30,
1999.
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SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
COLONY BANKCORP, INC.
September 13, 1999 /s/ James D. Minix
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Date James D. Minix, President and
Chief Executive Officer
/s/ Terry L. Hester
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Terry L. Hester, Executive Vice
President and Chief Financial Officer
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[LETTERHEAD OF COLONY BANKCORP, INC APPERS HERE]
September 13, 1999
Securities and Exchange Commission
450 Fifth Street
Washington, D.C. 20549
Re: Colony Bankcorp, Inc.
Commission File No. 0-12436
CIK No 0000711669
Dear Sir or Madam:
Pursuant to the requirements of the Securities and Exchange Act of 1934 we are
transmitting herewith via EDGAR filing amendments to the previously submitted
June 30, 1999 Form 10-Q for Colony Bankcorp, Inc. as follows:
(1) Cover sheet for June 30, 1999 Form 10-Q
(2) Page 3, Balance Sheet amendment to reflect 20,000,000 shares authorized at
June 30, 1999 and 5,000,000 shares authorized at December 31, 1998.
(3) Page 23, Part II Other Information amendment to include Item 4-Submission of
Matters to a Vote of Security Holders which was omitted with the report
previously submitted.
(4) Signature page reflecting date in which executive officers signed for the
amended items.
Should you have any questions, please do no hesitate to contact Terry Hester at
(912)426-6002.
Sincerely,
/s/ Terry L. Hester
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Terry L. Hester
