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 11, 2014

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.

 
Name
  
2014 Base
Salary ($)
    
2014 Base
Salary ($)(1)
    
2014 Bonus
Awards ($)
    
2014
Stock Grant
Awards (#)
  
Edward P. Loomis, Jr.
  
$
252,500
    
$
257,500
      
-
      
-
  
President and CEO
                                
Colony Bankcorp, Inc.
                                
 
                                
Terry L. Hester
    
192,550
      
196,550
      
-
      
-
  
CFO
                                
Colony Bankcorp, Inc.
                                
 
                                
Henry F. Brown, Jr.
    
129,000
      
132,500
      
-
      
-
  
Chief Credit Officer and
                                
Senior Credit Administrator
                                
Colony Bank
                                
 
                                
Lee Northcutt
    
152,500
      
156,500
      
-
      
-
  
Regional Market Executive
                                
Eastern Division
                                
Colony Bank
                                
 
                                
Eddie Hoyle, Jr.
    
154,500
      
158,500
      
-
      
-
  
Regional Market Executive
                                
Western Division
                                
Colony Bank
                                

(1) Compensation Committee approved base salary adjustments for its named executive officers to be effective with the September 11, 2014 payroll run.  The committee indicated at year end 2013 that they would assess company performance in mid-year 2014 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:   September 11, 2014
By:
/s/ Terry L. Hester
 
 
Terry L. Hester
 
 
Executive Vice-President and
 
 
Chief Financial Officer