Short answer
COLONY BANKCORP INC (CBAN) filed an 8-K current report with the SEC on September 17, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers), Item 8.01 (Other Events), Item EX-99.1 (Exhibit EX-99.1). R. Dallis Copeland continues as President of Colony Bank and Holding Company under a two-year agreement effective September 13, 2026.
COLONY BANKCORP INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- R. Dallis Copeland continues as President of Colony Bank and Holding Company under a two-year agreement effective September 13, 2026
- Annual base salary set at $400,000, plus performance-based annual bonus eligibility
- Change-in-control protection: two times base salary plus prior-year bonus after qualifying termination within 12 months
- Standard severance: one times base salary for qualifying termination outside the change-in-control window
- 12-month post-employment non-compete, non-recruitment, and customer non-solicitation restrictions
Item 8.01 · Other Events
- Regulatory approvals received for Colony Bankcorp’s merger with First Reliance Bancshares
- Expected closing November 1, 2026, subject to shareholder approval and customary conditions
- Transaction advances toward completion but remains exposed to closing-condition risk
- Exhibit 99.1 contains the company’s detailed merger announcement
Item EX-99.1 · Exhibit EX-99.1
- All regulatory approvals obtained for Colony’s merger with First Reliance, removing a key transaction hurdle
- Shareholder votes scheduled October 14, 2026; closing targeted for fourth quarter 2026
- Approximately $163 million stock-and-cash acquisition of 100% of First Reliance common stock
- Combined company expected at approximately $5 billion assets, $4 billion deposits, and $3.2 billion loans
- Remaining risks include shareholder rejection, integration costs, execution delays, and dilution from newly issued Colony shares
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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