FITZGERALD, Ga. (AP) — FITZGERALD, Ga. (AP) — Colony Bankcorp Inc. (CBAN) on Thursday reported first-quarter net income of $5 million.
The Fitzgerald, Georgia-based bank said it had earnings of 29 cents per share. Earnings, adjusted for non-recurring costs, were 31 cents per share.
The bank holding company posted revenue of $36 million in the period. Its revenue net of interest expense was $28.2 million, falling short of Street forecasts.
Colony Bankcorp shares have dropped 25% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.50, a drop of 44% in the last 12 months.
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