Colony Bankcorp declares dividend
Colony Bankcorp paying first dividends since 2009
From Staff Reports
FITZGERALD — Colony Bankcorp Inc. announced Tuesday that its Board of Directors declared a quarterly cash dividend of 2.5 cents per share, payable March 31 to shareholders of record on March 1.
The board factored in earnings projected for the quarter along with Colony’s capital position in setting the dividend payment. Colony officials say the bank’s capital position remains strong with its total risk-based capital approximating 16.5 percent, above the regulatory minimum requirement of 10 percent to be categorized as “well-capitalized.”
“Much progress has been made by Colony since we last paid dividends in June 2009. While we have been focused on reducing our outstanding preferred stock the past couple of years, we are pleased to reward our shareholders with the reinstatement of cash dividends,” Colony Bankcorp President/CEO Ed Loomis said.
Colony Bankcorp Inc. is a bank holding company headquartered in Fitzgerald with 28 offices, including offices in Albany, Leesburg and Sylvester.
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