|Bid||15.00 x 800|
|Ask||16.50 x 800|
|Day's Range||14.75 - 15.36|
|52 Week Range||8.70 - 16.49|
|Beta (5Y Monthly)||0.63|
|PE Ratio (TTM)||12.09|
|Earnings Date||Jan 22, 2021|
|Forward Dividend & Yield||0.41 (2.75%)|
|Ex-Dividend Date||Jan 28, 2021|
|1y Target Est||19.00|
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Colony Bancorp, Inc. ("Colony" or the "Company") (NASDAQ: CBAN) in connection with the proposed acquisition of the Company by SouthCrest Financial Group ("SouthCrest"). Under the terms of the merger agreement, each SouthCrest shareholder will have the right to elect to receive either $10.45 in cash or 0.7318 shares of Colony's common stock in exchange for each share of SouthCrest common or preferred stock, subject to customary proration and allocation procedures such that approximately 27.5% of SouthCrest shares will be converted to cash consideration and the remaining 72.5% of SouthCrest shares will be converted to Colony common stock. The transaction is valued at $84.0 million.
Colony Bankcorp, Inc. (Nasdaq: CBAN) ("Colony" or "the Company"), the holding company for Colony Bank, and SouthCrest Financial Group, Inc. (PK: SCSG) ("SouthCrest"), the holding company for SouthCrest Bank, N.A., today jointly announced the signing of an Agreement and Plan of Merger under which Colony has agreed to acquire 100% of the common stock of SouthCrest in a combined stock-and-cash transaction valued at approximately $84.0 million. Upon completion of the transaction, Colony is expected to have approximately $2.4 billion in assets, $1.4 billion in loans, $2.0 billion in deposits, and $165.8 million in tangible common equity. The transaction is expected to be meaningfully accretive to Colony's fully diluted earnings per share in year one, excluding transaction costs.
Colony Bankcorp, Inc. (Nasdaq: CBAN) ("Colony" or the "Company") today reported net income of $4.9 million, $0.52 per diluted share, for the quarter ended March 31, 2021, compared with $1.6 million, or $0.17 per diluted share, for the quarter ended March 31, 2020. The Company reported operating net income of $5.1 million, or $0.53 per diluted share, for the quarter ended March 31, 2021, compared with $1.8 million, or $0.19 per diluted share for the same period in 2020. Operating net income for March 31, 2021 and 2020 excludes after-tax acquisition related expenses, and the net income tax expense (benefit) for the adjustments.