form8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date of earliest event reported): September 7, 2012
 
COLONY BANKCORP, INC.
(Exact name of registrant as specified in its charter)
 
Georgia
000-12436
58-1492391
(State or other jurisdiction of incorporation)
(Commission File No.)
(IRS Employer I.D. No.)
 
115 South Grant Street, Fitzgerald, Georgia 31750
(Address of principal executive offices)
 
(229) 426-6000
Registrant's Telephone Number, including area code
 
N/A
(Former name or former address, if changed since last report)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
 
(e)
The Independent Directors Compensation Committee of Colony Bankcorp, Inc. (“the Company”) has approved salaries, bonus awards, and stock grant awards for certain of its named executive officers.  The following table shows the approved corporation salaries and awards.
 
                     
2012
  
   
2012 Base
    
2012 Base
    
2012 Bonus
    
Stock Grant
  
Name
  
Salary ($)
    
Salary ($)
    
Awards ($)
    
Awards (#)
  
Edward P. Loomis, Jr.
   $ 245,000     $ 245,000       -       -  
President and CEO
                                
Colony Bankcorp, Inc.
                                
                                 
Terry L. Hester
     177,750       177,750       -       -  
CFO
                                
Colony Bankcorp, Inc.
                                
                                 
Henry F. Brown, Jr.
     110,000       125,000       -       -  
Chief Credit Officer and
                                
Senior Credit Administrator
                                
Colony Bank
                                
                                 
Lee Northcutt
     142,500       148,000       -       -  
Regional Market Executive
                                
Eastern Division
                                
Colony Bank
                                
                                 
Eddie Hoyle, Jr.
     145,000       150,000       -       -  
Regional Market Executive
                                
Western Division
                                
Colony Bank
                                
 
*Compensation Committee approved base salary adjustments for Northcutt and Hoyle effective September 7, 2012 and for Brown effective November 19, 2012.  The Colony had previously reported that the committee would assess company performance in mid-year 2012 for review of any base salary adjustments.

 
SIGNATURES
 
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
  COLONY BANKCORP, INC.
     
     
Date:   March 12, 2013
By:
/s/ Terry L. Hester
   
Terry L. Hester
   
Executive Vice-President and
   
Chief Financial Officer