SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q/A QUARTERLY REPORT UNDER SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR QUARTER ENDED JUNE 30, 1999 COMMISSION FILE NUMBER 0-12436 COLONY BANKCORP, INC. --------------------- (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) GEORGIA 58-1492391 ------- ---------- (STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER INCORPORATION OR ORGANIZATION) IDENTIFICATION NUMBER) 115 SOUTH GRANT STREET, FITZGERALD, GEORGIA 31750 ------------------------------------------------- ADDRESS OF PRINCIPAL EXECUTIVE OFFICES 912/426-6000 ------------ REGISTRANT'S TELEPHONE NUMBER INCLUDING AREA CODE INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED REPORTS REQUIRED TO BE FILED BY SECTIONS 13 OR 15(D) OF THE SECURITIES ACT OF 1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH FILING REQUIREMENTS FOR THE PAST 90 DAYS. YES X NO INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES OF COMMON STOCK, AS OF THE CLOSE OF THE PERIOD BY THIS REPORT. CLASS OUTSTANDING AT JUNE 30, 1999 ----- ---------------------------- COMMON STOCK, $1 PAR VALUE 4,435,026 COLONY BANKCORP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS JUNE 30, 1999 AND DECEMBER 31, 1998 (UNAUDITED) (DOLLARS IN THOUSANDS) ASSETS June 30, 1999 December 31, 1998 ------------- ----------------- Cash and Balances Due from Depository Institutions (Note 2) $ 17,593 $ 12,265 Federal Funds Sold 11,390 27,795 Investment Securities Available for Sale, at Fair Value 65,120 70,240 Held to Maturity, at Cost (Fair Value of $1,097 and $1,537 respectively) (Note 3) 1,126 1,558 Loans (Notes 4 and 5) 288,992 252,869 Allowance for Loan Losses (4,383) (4,726) Unearned Interest and Fees (2) (5) ------------- ----------------- Total Loans 284,607 248,138 Premises and Equipment (Note 6) 12,347 11,686 Other Real Estate 1,239 907 Other Assets 8,126 8,759 ------------- ----------------- Total Assets $ 401,548 $ 381,348 ============= ================= LIABILITIES AND STOCKHOLDERS' EQUITY Deposits: Noninterest-Bearing $ 29,752 $ 29,216 Interest-Bearing (Note 8) 317,768 301,530 ------------- ----------------- Total Deposits 347,520 330,746 Borrowed Money: Federal Funds Purchased 3,590 0 Other Borrowed Money (Note 9) 13,326 14,521 ------------- ----------------- Total Borrowed Money 16,916 14,521 Other Liabilities 3,073 2,985 Commitments and Contingencies (Note 11) Stockholders' Equity: Common Stock, Par Value $1 & $10, respectively. Authorized 20,000,000 and 5,000,000 shares, Issued 4,435,026 and 2,217,573 shares as of June 30, 1999 and December 31, 1998, respectively* 4,435 22,175 Paid-In Capital 19,320 1,580 Retained Earnings 11,246 9,425 Accumulated Other Comprehensive Income, Net of Tax (962) (84) ------------- ----------------- Total Stockholders' Equity 34,039 33,096 ------------- ----------------- Total Liabilities and Stockholders' Equity $ 401,548 $ 381,348 ============= ================= *Par Value was reduced from $10 to $1 per share by Board of Director action on February 16, 1999. The accompanying notes are an integral part of these balance sheets. dissemination, trade reporting and order execution systems. This market also provides specialized automation services for screen-based negotiations of transactions, on-line comparison of transactions, and a range of informational services tailored to the needs of the securities industry, investors and issuers. The Nasdaq Stock Market is operated by The Nasdaq Stock Market, Inc., a wholly-owned subsidiary of the National Association of Securities Dealers, Inc. PART II - OTHER INFORMATION ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS - ------------------------------------------------------------ The Annual Meeting of the Shareholders of the Company was held on April 27, 1999. At the Annual Meeting of the Shareholders, proxies were solicited under Regulation 14 of the Securities and Exchange Act of 1934. Total shares amount to 4,435,026. A total of 3,016,167.5 shares (68%) were represented by shareholders in attendance or by proxy. The following directors were elected by yes votes totaling 3,013,629.5 and no votes totaling 2,538 shares to serve one year until the next annual meeting: Marion H. Massee, III Ben B. Mills, Jr. Terry L. Coleman James D. Minix L. Morris Downing, Jr. Ralph D. Roberts Terry L. Hester W. B. Roberts, Jr. Milton N. Hopkins, Jr. R. Sidney Ross Harold E. Kimball Joe Shiver Curtis A. Summerlin Other matters voted upon by the shareholders was a proposal to amend the articles of incorporation of the Company to increase the number of authorized shares of $1.00 par value common stock of the Company to twenty million shares from five million shares. This proposal passed with 3,005,168.5 voting for, 6,042 voting against and 4,957 abstaining. No other matters were voted upon by the shareholders. ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K - ----------------------------------------- A. Exhibits - None B. There have been no reports filed on Form 8-K for the quarter ended June 30, 1999. SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. COLONY BANKCORP, INC. September 13, 1999 /s/ James D. Minix - ---------------------------- ------------------------------------- Date James D. Minix, President and Chief Executive Officer /s/ Terry L. Hester ------------------------------------- Terry L. Hester, Executive Vice President and Chief Financial Officer [LETTERHEAD OF COLONY BANKCORP, INC APPERS HERE] September 13, 1999 Securities and Exchange Commission 450 Fifth Street Washington, D.C. 20549 Re: Colony Bankcorp, Inc. Commission File No. 0-12436 CIK No 0000711669 Dear Sir or Madam: Pursuant to the requirements of the Securities and Exchange Act of 1934 we are transmitting herewith via EDGAR filing amendments to the previously submitted June 30, 1999 Form 10-Q for Colony Bankcorp, Inc. as follows: (1) Cover sheet for June 30, 1999 Form 10-Q (2) Page 3, Balance Sheet amendment to reflect 20,000,000 shares authorized at June 30, 1999 and 5,000,000 shares authorized at December 31, 1998. (3) Page 23, Part II Other Information amendment to include Item 4-Submission of Matters to a Vote of Security Holders which was omitted with the report previously submitted. (4) Signature page reflecting date in which executive officers signed for the amended items. Should you have any questions, please do no hesitate to contact Terry Hester at (912)426-6002. Sincerely, /s/ Terry L. Hester - ------------------- Terry L. Hester