Colony Bankcorp Inc acquisition of TC Bancshares, Inc.

Colony Bankcorp Inc completed its acquisition of TC Bancshares, Inc. on 2025-12-01, according to the Form 8-K Colony Bankcorp Inc filed with the SEC on 2025-12-01. The filing states a price of $15.4 million.

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What the filing says

Effective December 1, 2025, Colony Bankcorp, Inc., a Georgia corporation ("CBAN" or the "Company") and the Company's wholly-owned subsidiary, Colony Bank, completed the previously announced merger (the "Merger") with TC Bancshares, Inc., a Georgia corporation ("TCBC"), and TCBC's wholly-owned subsidiary, TC Federal Bank.

The price, in the filing's words

As a result of the Merger, CBAN will issue approximately 3,839,748 shares of CBAN common stock and pay approximately $15,428,244 in cash to former TCBC shareholders.

More from the filing

At the effective time of the Merger (the "Effective Time"), TCBC merged with and into CBAN, with CBAN as the surviving entity, and TC Federal Bank merged with and into Colony Bank, with Colony Bank as the surviving entity, pursuant to the terms and conditions of the Agreement and Plan of Merger by and among CBAN, Colony Bank, TCBC and TC Federal Bank, dated as of July 23, 2025 (the "Merger Agreement").

Pursuant to the Merger Agreement, at the Effective Time, each outstanding share of TCBC common stock issued and outstanding immediately prior to the Effective Time was converted into the right to receive, at the election of each TCBC shareholder, either (i) $21.25 in cash (the "Per Share Cash Consideration"), or (ii) 1.25 shares of the Company's common stock (the "Per Share Stock Consideration"), subject to customary proration and allocation procedures such that approximately 20% of TCBC shares were converted to cash consideration and the remaining 80% of TCBC shares were converted to CBAN com

At the Effective Time, each share of TCBC common stock subject to vesting restrictions under any TCBC stock plan that was outstanding immediately prior to the Effective Time fully vested and converted into the right to receive, as elected by the holder and subject to allocation procedures and applicable tax withholdings, either the Per Share Cash Consideration or the Per Share Stock Consideration.

Quoted from Colony Bankcorp Inc's Form 8-K.

This is the only completed acquisition Colony Bankcorp Inc reported under Item 2.01 in the last twelve months.

Where this comes from

A public company must file a current report on Form 8-K with the SEC within four business days of completing a significant acquisition or disposition of assets, under Item 2.01 of the report. The acquired company sometimes files one too, when the deal makes it a subsidiary of the buyer.

Every fact on this page is taken from one of those filings and linked to it: which company acquired which, the date the filing gives for completion, and the price when the filing states one in dollars, shown next to the sentence that states it. A filing states what was bought and on what terms; it rarely states why, and neither does this page.

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