Colony Bankcorp Inc. announces 4Q results
Colony Bankcorp Inc., on Friday reported net income available to shareholders of $1.3 million or $0.16 per diluted share for the fourth quarter of 2014 compared to $1.24 million, or $0.15 per diluted share for the same period in 2013.
Net income available to shareholders for 12 months ended Dec. 31 was $4.84 million, or $0.57 per diluted share compared to $3.12 million, or $0.37 per share for 2013.
The 55.22 percent increase in net income was primarily driven by a reduction in provision for loan losses, an increase in net interest income and an increase in non-interest income.
“Much was accomplished during 2014 as Colony had significant improvement in earnings and asset quality,” said Ed Loomis, president and chief executive officer. “Of significance during the quarter, we received regulatory approval to reinstate payments on our trust preferred securities and preferred stock which had been in deferred status.
“As we look to 2015, we believe we are positioned to continue to improve on earnings and asset quality, which in turn will enhance shareholder value.”
St. Joseph’s/Candler Foundation receives gift
The Rives E. Worrell Co., a JE Dunn Construction Co., gave $15,000 to the St. Joseph’s/Candler Foundation as the title sponsor of the 13th annual Candler Clays Charity Shoot & Auction.
The Candler Clays benefits the Nancy N. and J.C. Lewis Cancer & Research Pavilion at St. Joseph’s/Candler. This year’s event is dedicated to the memory of Charles B. Mikell, Jr., former chief judge of the court of appeals and a patient at the Lewis Cancer & Research Pavilion. He died last year.
This year’s charity shoot and auction will take place Feb. 20-21 with a Friday night reception and auction at the Savannah Golf Club and the Sporting Clays Tournament Saturday at Forest City Gun Club.
For more information, call 912-819-8683, visit www.candlerclays.org or email candlerclays@sjchs.org.
Hamburger chain opens on Abercorn
Wayback Burgers, a Connecticut-based restaurant chain, opened its first franchise in Savannah on Friday.
Located in Abercorn Commons at 8108 Abercorn St., the restaurant will serve fresh burgers and hand-dipped milkshakes. The concept also features a rotating Burger and Milkshake of the Month, with January’s being a Hawaiian burger and Pina Colada milkshake.
The chain began in Newark, Del., in 1991 and has more than 85 locations. The Savannah location, the first in Georgia, will be operated by Jackie and Scott Ammerman.
For more information, go to waybackburgers.com
