Colony Bankcorp Posts $0.50 Q3 EPS, Declares $0.12 Dividend and Closes $16.2M Branch Sale-Leaseback
CBAN is trading near its 52-week low of $15.8 (15% above the low).
Summary
Colony Bankcorp earned $0.50 per diluted share in Q3 2026, declared a $0.12 quarterly dividend, and closed a $16.2 million branch sale-leaseback that should produce a roughly $15 million pre-tax gain to fund a securities portfolio repositioning.
Key Events · Earnings and Guidance · CBAN
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Q3 Earnings and Dividend Declared
Net income was $10.5 million, or $0.50 per diluted share, versus $5.8 million, or $0.33, a year earlier; operating EPS was $0.54. The board declared a $0.12 quarterly dividend payable November 25, 2026 to holders of record November 11, 2026.
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Branch Sale-Leaseback Closed
Colony Bank sold the Manchester and Thomaston, Georgia branches for $16,188,253 on October 27, 2026 and signed a 15-year triple-net master lease at $1,343,625 of initial annual rent. A third property in Tifton ($3,714,157) remains subject to buyer inspection and closing conditions and would lift rent to $1,651,900.
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Securities Repositioning Planned
The roughly $15 million expected pre-tax gain on the sale-leaseback is intended to offset realized losses from selling about $100 million of available-for-sale securities yielding approximately 2.00%, with proceeds reinvested at an assumed weighted-average 5.5%.
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Credit Metrics Deteriorated
Nonperforming assets rose to $25.0 million from $20.9 million at June 30, 2026, and classified loans increased to $53.9 million from $33.6 million, primarily from the downgrade of one construction relationship. The allowance for credit losses was 0.91% of total loans.
Analysis · CBAN · Finance
Three things landed at once: third-quarter earnings, the dividend, and a balance-sheet repositioning. Net income of $10.5 million ($0.50 per diluted share) was down slightly from $10.9 million in the second quarter but nearly double the $5.8 million earned a year ago, and net interest margin rose for an eighth straight quarter to 3.59%. The more consequential item is the sale-leaseback: Colony sold two branches for $16.2 million, will sell a third for $3.7 million, and leased them all back for 15 years at $1.34 million of annual rent stepping up to $1.65 million. Management expects a roughly $15 million pre-tax gain, which it plans to spend offsetting losses on selling about $100 million of low-yielding (roughly 2.00%) securities and reinvesting near 5.5%. That trade swaps paper losses for a better-earning balance sheet and is described as accretive to tangible book value and recurring earnings, though it adds $1.8 million of annual rent expense. Credit is the offsetting concern: nonperforming assets rose to $25.0 million from $20.9 million and classified loans jumped to $53.9 million from $33.6 million, driven largely by one construction relationship.
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At the time of this filing, CBAN was trading at $18.11 on NYSE in the Finance sector, with a market capitalization of approximately $432.1M. The 52-week trading range was $15.80 to $22.46. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.