Business
Colony Bankcorp, Inc. Announces Completion of Merger With TC Bancshares, Inc.
FITZGERALD, Ga., December 01, 2025--Colony Bankcorp, Inc. (NYSE: CBAN) ("Colony"), the holding company for Colony Bank, today announced the successful completion of its merger with TC Bancshares, Inc. ("TC Bancshares"), the holding company for TC Federal Bank, effective December 1, 2025.
About this update from Colony Bankcorp, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":273,"url":"https://media.zenfs.com/en/business-wire.com/c9924ac4fb7c8a2bfd4904815ee7ce0d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/nNhz.6EcBRYXxz0zl8wf.w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU0NjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/c9924ac4fb7c8a2bfd4904815ee7ce0d","width":480,"height":273}},"lazy":false},{"type":"text","content":"FITZGERALD, Ga., December 01, 2025--(BUSINESS WIRE)--Colony Bankcorp, Inc. (NYSE: CBAN) ("Colony"), the holding company for Colony Bank, today announced the successful completion of its merger with TC Bancshares, Inc. ("TC Bancshares"), the holding company for TC Federal Bank, effective December 1, 2025.","length":325,"tagName":"p"},{"type":"text","content":"Customers of TC Federal Bank will continue to be served through their existing branches, websites, and digital banking platforms until all core systems, signage, and branding are converted to Colony Bank, which is expected to occur in early 2026. Customers will receive detailed conversion information in advance of any changes.","length":328,"tagName":"p"},{"type":"text","content":""We are pleased to welcome the TC Federal team and their customers to Colony," said T. Heath Fountain, Chief Executive Officer of Colony Bankcorp, Inc. "We have worked closely with Greg Eiford and his team over the past several months, and we have seen firsthand their commitment to customers, team members, and community banking. The cultural alignment between our organizations is strong, and together we are well positioned to expand our presence and deepen our service across key Georgia and Florida markets."","length":533,"tagName":"p"},{"type":"text","content":"In accordance with the terms of the merger agreement announced on July 23, 2025, TC Bancshares shareholders received either $21.25 in cash or 1.25 shares of Colony common stock for each share of TC Bancshares common stock, subject to the proration and allocation procedures described in the merger agreement.","length":308,"tagName":"p"},{"type":"text","content":"As a combined organization, Colony now has approximately $3.7 billion in total assets, $3.0 billion in total deposits, and $2.4 billion in total l...