- Colony Bankcorp (CBAN, Financial) reported a net income of $6.6 million for Q1 2025, up from $5.3 million in Q1 2024.
- Loan portfolios increased by $78.3 million to $1.92 billion as of March 31, 2025.
- A quarterly dividend of $0.1150 per share was announced, payable on May 21, 2025.
Colony Bankcorp, Inc. (CBAN) released its financial results for the first quarter of 2025, recording a net income of $6.6 million, or $0.38 per diluted share. This represents an improvement from the $5.3 million, or $0.30 per diluted share, reported in the corresponding period of 2024.
The company saw a significant increase in its loan portfolio, with total loans reaching $1.92 billion by the end of March 2025, marking a $78.3 million, or 4.25%, rise from the previous quarter. Deposit growth was also robust, with total deposits rising by $54.6 million to $2.62 billion during the same period.
Amid these financial gains, Colony Bankcorp announced a quarterly cash dividend of $0.1150 per share, which will be distributed on May 21, 2025, to shareholders recorded on May 7, 2025. This dividend declaration reinforces the company's commitment to returning value to its shareholders.
Colony's small business lending segment showed a contraction in activity, closing $15.4 million in SBA loans compared to $22.2 million in the fourth quarter of 2024. However, mortgage production remained strong at $72.0 million, with sales at $55.9 million.
Despite a challenging market environment highlighted by increased provision for credit losses of $1.5 million, Colony Bankcorp has maintained a solid capital position. The company's assets grew to $3.17 billion, a $62.0 million increase from the previous quarter, showcasing its resilience and ability to navigate volatile market conditions.
CEO Heath Fountain expressed optimism about Colony’s outlook, citing improved net interest margins and effective strategies in loan and deposit growth as foundational elements for future performance.
