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): January 25, 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.

Name
  
2011 Base
Salary ($)
    
2012 Base
Salary ($)
    
2011 Bonus
Awards ($)
  
  2012
Stock Grant
Awards (#)
James D. Minix
   $ 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       110,000        -      -
Chief Credit Officer and
                          
Senior Credit Administrator
                          
Colony Bank
                          
                           
Lee Northcutt
     142,500       142,500       -      -
Regional Market Executive
                          
Eastern Division
                          
Colony Bank
                          
                           
Eddie Hoyle, Jr.
     145,000       145,000       -      -
Regional Market Executive
                          
Western Division
                          
Colony Bank
                          
 
*Compensation Committee will revisit compensation arrangements for executive offices mid-year 2012 to assess company performance in meeting company initiatives for 2012.

 
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: January 25, 2012
By:
 /s/ Terry L. Hester  
    Terry L. Hester  
    Executive Vice-President and  
    Chief Financial Officer