Item 2.02. Results of Operation and Financial Condition



On January 26, 2023, Colony Bankcorp, Inc. (the "Company") issued a press
release announcing its consolidated financial results for the fourth quarter
ended December 31, 2022, as well as the announcement of a regular quarterly cash
dividend. A copy of the press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information in this
Item 2.02, including Exhibit 99.1 attached hereto, is being furnished and shall
not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities
of that section, nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange Act, except as
expressly set forth by specific reference in such filing.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Terry L. Hester passed away on January 22, 2023. At the time of his death, Mr.
Hester served as a director of the Company and Colony Bank (the "Bank"). Mr.
Hester worked at the Company and Bank from 1978 until his retirement in December
2019 and had served on the board of directors of the Company since 1990 and of
the Bank since 2008.

On January 24, 2023, Mr. Andrew Borrmann resigned from his roles of Executive
Vice President and Chief Financial Officer of each of the Company and the Bank,
effective immediately. Mr. Borrmann was party to an Employment Agreement, dated
April 22, 2021, by and between Mr. Borrmann and the Bank, which is filed as
Exhibit 10.1 herewith. In connection with Mr. Borrmann's resignation, the Bank
and Mr. Borrmann entered into a Separation and Release Agreement, a copy of
which is filed as Exhibit 10.2 herewith. In such agreement, the Bank agreed to
pay Mr. Borrmann severance payments equal to one year of Mr. Borrmann's base
salary, payable over twelve months following the resignation date. Mr. Borrmann
also re-affirmed and agreed to certain restrictive covenants and provided a full
release of claims in connection with the Separation and Release Agreement.

The Board of Directors of the Company designated T. Heath Fountain as the
interim Chief Financial Officer, principal financial officer and principal
accounting officer of the Company, to serve in that function until a permanent
replacement is named. Mr. Fountain's biographical information can be found in
the Company's proxy statement filed with the Securities and Exchange Commission
on April 11, 2022, which biographical information is incorporated herein by
reference.

The Company has not entered into, adopted or commenced any new, or amended any
existing compensating plans or arrangements or employment agreements with Mr.
Fountain in connection with this designation. There are no arrangements or
understandings between Mr. Fountain and other persons pursuant to which he was
designated as the interim Chief Financial Officer of the Company. There are no
family relationships between Mr. Fountain and any director or executive officer,
or any person nominated or chosen by the Company to become a director or
executive officer that are required to be reported under Item 401(d) of
Regulation S-K. The Company has not engaged in any transaction in which Mr.
Fountain had a direct or indirect material interest within the meaning of Item
404(a) of Regulation S-K.


Item 7.01. Regulation FD Disclosure
The Company is furnishing a copy of its most recent investor presentation, which
it intends to use in connection with certain community group presentations. A
copy of the presentation materials to be used by the Company is furnished as
Exhibit 99.2 to this Current Report and is incorporated herein by reference. The
Company will also host an investor earnings call at 9:00 a.m. EST on Friday,
January 27, 2023.

In accordance with General Instruction B.2 of Form 8-K, the information in Item
7.01, including Exhibit 99.2 attached hereto, is being furnished and shall not
be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise
subject to the liabilities of that section, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended, or the
Exchange Act, except as expressly set forth by specific reference in such
filing.



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Item 9.01 Financial Statements and Exhibits



(d)Exhibits.

Exhibit Number                Description
                                Employment Agreement by and between Andrew Borrmann and Colony Bank,
10.1                          dated as of April 22, 2021†
                                Separation and Release Agreement by and between Andrew Borrmann and
10.2                          Colony Bank, dated as of January 25, 2023  †
99.1                            Colony Bankcorp, Inc., press release dated January 26, 2023
99.2                            Investor Presentation dated January 26, 2023
                              Cover Page Interactive Data File - the cover page XBRL tags are embedded
                              within the Inline
104                           XBRL document.

† Represents a management contract or a compensatory plan or arrangement.

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