Form 8-K
 
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): December 19, 2002
 
 
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)
 

ITEM 5.    Other Events
 
On December 19, 2002, Colony Bankcorp, Inc. announced the completion of a $5,000,000 private placement of floating rate trust preferred securities (“Capital Securities”) through its wholly-owned subsidiary, Colony Bankcorp Statutory Trust II.
 
The Capital Securities mature in 30 years and bear interest at the 3-month LIBOR plus 325 basis points, reset quarterly. Interest on the Capital Securities is to be paid on the 26th day of each March, June, September, and December, commencing on March 26, 2003.
 
Colony Bankcorp, Inc. intends to use the proceeds from this offering to reduce its debt and for general corporate purposes, including providing capital to its subsidiary banks.
 
 
The FTN Financial Capital Markets and Keefe, Bruyette & Woods acted as placement agents in the offering.
 
Colony Bankcorp, Inc. (“Colony”) is a multi-bank holding company headquartered in Fitzgerald, Georgia. Colony has seven banking subsidiaries with locations in the south and central Georgia cities of Fitzgerald, Ashburn, Leesburg, Cordele, Albany, Sylvester, Warner Robins, Tifton, Moultrie, Douglas, Broxton, Eastman, Chester, Soperton, Rochelle, Pitts, Quitman and Valdosta. Colony had assets of $755 million as of November 30, 2002. The company’s stock is traded on the Nasdaq National Market under the symbol “CBAN.”
 
ITEM 7.    Financial Statements and Exhibits
 
Exhibits.    None

 
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.
 
 
 
 
Date:    December 19, 2002


   
COLONY BANKCORP, INC.
 
 
By:                 /s/    James D. Minix
James D. Minix
President and Chief Executive Officer

 
EXHIBIT INDEX
None.