Colony Bankcorp, Inc. (NYSE:CBAN) filed a Form 8-K on October 28, 2026, disclosing that its subsidiary Colony Bank entered into a sale-and-leaseback agreement covering three Georgia branch properties for an aggregate gross purchase price of $19,902,410.

Key Highlights

  • Aggregate gross purchase price: $19,902,410 for three branch properties under the Purchase Agreement with MountainSeed Real Estate Services, LLC.
  • Initial closing completed October 27, 2026: Properties in Manchester and Thomaston, Georgia sold for a combined $16,188,253.
  • Tifton, Georgia property pending: The third property is priced at $3,714,157 and remains subject to the Buyer's inspection and termination rights and other closing conditions.
  • Master Lease initial term: Commenced October 27, 2026, with an initial term ending October 31, 2041, plus one option to renew for an additional 15 years.
  • Initial annual base rent: $1,343,625 for the Manchester and Thomaston properties, payable monthly in advance, with 2% annual compounded increases beginning in the second rent year.
  • Rent upon Tifton closing: Aggregate initial annual base rent is expected to increase by $308,275 to $1,651,900 if the Tifton follow-on transaction closes.
  • Parent guaranty: Colony Bankcorp, Inc. entered into a Guaranty of Lease on October 27, 2026, guaranteeing the Bank's payment and performance obligations under the Master Lease.

Colony Bank's Sale-Leaseback Terms and Obligations

According to the filing, Colony Bank entered into an Agreement for Purchase and Sale of Property with MountainSeed Real Estate Services, LLC on October 27, 2026. The initial closing covered branches in Manchester and Thomaston, Georgia, at a combined gross price of $16,188,253. The Tifton, Georgia property, priced at $3,714,157, has not yet closed and, as the filing states, "remains subject to the Buyer's inspection and termination rights and other closing conditions."

Concurrent with the initial closing, the Bank entered into a Master Lease with TFE CLBA LLC as Landlord to lease back the two closed properties. The filing describes the arrangement as "an absolute triple-net lease" under which the Bank is responsible for "taxes, insurance, maintenance, repairs, capital improvements and other property-related expenses." Initial renewal rent is defined as the greater of fair market rent and 102% of the preceding year's base rent, with 2% annual compounded increases thereafter. The Company also executed a Guaranty of Lease in favor of the Landlord, under which subrogation rights against the Bank are deferred until all amounts payable to the Landlord have been paid in full.

The filing also noted that Colony Bankcorp issued a press release on October 28, 2026 announcing its consolidated financial results for the third quarter ended September 30, 2026, as well as a regular quarterly cash dividend. The company disclosed it will host an investor earnings call at 9:00 a.m. ET on Thursday, October 29, 2026. Per the filing, the press release and investor presentation materials are furnished, not filed, under the Exchange Act.

What Was Disclosed

Colony Bankcorp's 8-K disclosed a sale-and-leaseback of three Georgia branch properties totaling $19,902,410, with two properties closed on October 27, 2026, a parent-level guaranty executed, and a pending third-property transaction in Tifton subject to remaining closing conditions.