Colony Bankcorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended of December 31, 2017. For the quarter, the company reported net interest income of $9,923,000 compared to $9,569,000 a year ago. Net interest income after provision for loan losses was $9,868,000 compared to $9,569,000 a year ago. Interest income was $11,680,000 compared to $11,203,000 a year ago. Income before income taxes was $3,932,000 compared to $3,131,000 a year ago. Net income was $579,000 compared to $2,187,000 a year ago. Net income available to common shareholders was $579,000 compared to $1,883,000 a year ago. Basic and diluted net income per share was $0.07 compared to $0.22 a year ago. Return on average assets was 0.19% compared to 0.64% a year ago. Return on average total equity was 2.52% compared to 7.60% a year ago.

For the full year, the company reported net interest income of $39,044,000 compared to $38,106,000 a year ago. Net interest income after provision for loan losses was $38,654,000 compared to $37,044,000 a year ago. Interest income was $45,917,000 compared to $44,589,000 a year ago. Income before income taxes was $14,528,000 compared to $12,524,000 a year ago. Net income was $7,751,000 compared to $8,673,000 a year ago. Net income available to common shareholders was $7,540,000 compared to $7,180,000 a year ago. Diluted net income per share was $0.87 compared to $0.84 a year ago. Common book value per share was $10.70 compared to $9.96 a year ago. Tangible common book value per share was $10.70 compared to $9.95 a year ago. Return on average assets was 0.63% compared to 0.62% a year ago. Return on average total equity was 8.28% compared to 7.17% a year ago.

In the fourth quarter of 2017 net charge-offs were $525,000, or 0.07% of average loans as compared to net charge-offs of $280,000, or 0.04% of average loans in fourth quarter 2016.