Colony Bankcorp, Inc. · NYSE:CBAN
Colony Bankcorp — Merger or Acquisition (June 2026)
18 slides from Colony Bankcorp's merger presentation, Jun 24, 2026
Slide 1: Creating a Strategic Partnership for Scalable Growth
Creating a Strategic Partnership for Scalable Growth June 2026
Slide 2: Cautionary Statements: Forward-Looking Statements
2 CAUTIONARY STATEMENTS Forward-Looking Statements This presentation contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. In general, forward-looking statements usually use words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,”
Slide 3: Cautionary Statements: Additional Information About the Merger
3 CAUTIONARY STATEMENTS Additional Information About the Merger and Where to Find It This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction
Slide 4: Transaction Rationale and Pro Forma Impact
4 TRANSACTION RATIONALE PRO FORMA IMPACT ~20% 2027 EPS Accretion ~12% TBVPS Dilution <3.5 Years TBVPS Earnback ~11% CET1 Ratio at Closing FINANCIALLY ATTRACTIVE ~20% earnings accretion with fully realized cost savings Manageable tangible book value dilution, earned back in under 3.5 years Strong pro
Slide 5: First Reliance Bancshares, Inc. Financial Highlights
5 FIRST RELIANCE BANCSHARES, INC. FINANCIAL HIGHLIGHTS $1.1bn Assets $929mm Deposits $808mm Net Loans 1.18% Core ROAA 3.77% NIM 13.7% Core ROATCE Source: S&P Global Market Intelligence Data as of or for the three months ended 3/31/26; Deposit and demographics data as of 6/30/25 (1) Community banks d
Slide 6: Dynamic South Carolina Markets
6 15.5% 14.3% 13.3% 11.9% 11.0% 11.3% Myrtle Beach MSA Greenville MSA Charleston MSA Columbia MSA Florence MSA U.S. DYNAMIC MARKETS CHARLESTON MARKET DEPOSITS ~$23bn | POPULATION 893,430 • Strong tourism, retail, and industrial base • Top 10 busiest U.S. port per BTS • Top 50 MSA in U.S. for project
Slide 7: Better Together
7 BETTER TOGETHER Source: S&P Global Market Intelligence; Data as of or for the three months ended 3/31/26; Bank level data used if holding company data unavailable Note: Peers include 285 nationwide public banks with total assets between $1bn and $10bn; excludes merger targets and mutual holding co
Slide 8: Pro Forma Loan & Deposit Composition
8 C&D 11% 1-4 Family 25% Multifamily 4% Owner- Occupied CRE 19% Non Owner- Occupied CRE 29% C&I 8% Consumer & Other 6% C&D 13% 1-4 Family 20% Multifamily 4% Owner- Occupied CRE 18% Non Owner- Occupied CRE 30% C&I 8% Consumer & Other 7% C&D 5% 1-4 Family 37% Multifamily 1% Owner- Occupied CRE 21% Non
Slide 9: Differentiated Low-Cost Deposit Bases
9 DIFFERENTIATED LOW-COST DEPOSIT BASES Source: S&P Global Market Intelligence; Data as of or for the three months ended each respective quarter Note: Data from Q4 ’19 to Q1 ‘26 Note: Peers include 285 nationwide public banks with total assets between $1bn and $10bn; excludes merger targets and mutu
Slide 10: Complementary Business Models Combined
10 COMPLEMENTARY BUSINESS MODELS COMBINED Commercial Banking Retail Banking Insurance Mortgage Banking Wealth Management Small Business Specialty Lending Marine/RV Lending PRODUCT OFFERINGS Source: Internal company reports and public disclosures Note: Yellow checkmark indicates outsourced product of
Slide 11: Transaction Summary
11 TRANSACTION SUMMARY Source: S&P Global Market Intelligence; FactSet Financial data as of 3/31/26; Market data as of 6/22/26 (1) Based on CBAN’s stock price of $20.71 on June 22, 2026. Assumes 7,896,292 shares outstanding, plus 321,465 RSUs and 51,132 preferred shares converted; assumes 100,000 op
Slide 12: Key Financial Assumptions
12 KEY FINANCIAL ASSUMPTIONS Earnings Projections •• CBAN: Street consensus earnings for 2026E and 2027E FSRL: Street consensus earnings for 2026E and 2027E Cost Savings and Synergies • Cost savings of approximately 35% of FSRL’s projected 2028 non-interest expense of $37.6mm o Phased in 60% in 2027
Slide 13: Pro Forma Financial Impact
13 1.15% 1.35% (1) 17.6% (1) 13.0% PRO FORMA FINANCIAL IMPACT Note: Pro forma peers include select major exchange traded banks headquartered in AL, AR, FL, KY, GA, MS, NC, SC, TN, and VA with total assets between $3.0 and $10.0 billion as of the most recent quarter reported; Excludes merger targets
Slide 14: Comprehensive Due Diligence
14 COMPREHENSIVE DUE DILIGENCE • Comprehensive, management-driven diligence process with support from external legal, audit, and advisory professionals • Performed detailed credit and operational analysis that supports long term integration and identifies meaningful synergy opportunities • 1,000+ fi
Slide 15: Our Combined Company
15 Georgia 71% Florida 5% South Carolina 24% OUR COMBINED COMPANY Source: S&P Global Market Intelligence Note: Deposit data as of 6/30/25 ALABAMA FLORIDA GEORGIA SOUTH CAROLINA Birmingham Atlanta Athens Macon Albany Thomasville Tallahassee Jacksonville Santa Rosa Beach Savannah Augusta Columbia Gree
Slide 16: EPS Accretion Reconciliation
16 EPS ACCRETION RECONCILIATION Source: S&P Global Market Intelligence and FactSet (1) Other adjustments include opportunity cost of cash, mortgage servicing rights amortization, and fixed asset mark amortization Dollars in millions, excluding per share data 2027E CBAN Financial Earnings (Mean Conse
Slide 17: TBV Dilution Reconciliation
17 TBV DILUTION RECONCILIATION Millions $ Millions of Shares $ Per Share CBAN Tangible Book Value at Close (12/31/26) $ 335 21 $15.85 Equity Consideration to FSRL 129 6 Core Deposit Intangible (19) Goodwill Created (56) Transaction Cost Attributable to CBAN (6) Pro Forma Tangible Book Value $ 383 27
Slide 18: Colony Bankcorp, Inc.
COLONY BANKCORP, INC. Rghthororsithyot.