Summary of Significant Accounting Policies (Policies) - Colony Bankcorp, Inc. 401(k) Plan |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Summary of Significant Accounting Policies | |
| Basis of Accounting | Basis of Accounting The accompanying financial statements are prepared on the accrual basis of accounting. |
| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of Plan assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. |
| Investment Valuation and Income Recognition | Investment Valuation and Income Recognition The Plan’s investments are reported at fair value (except for the fully benefit-responsive investment contract, which is reported at contract value). Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Plan’s management determines the Plan’s valuation policies utilizing information provided by the trustees and investment advisors. See Note 4 for discussion of fair value measurements. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation in fair value of investments includes the Plan’s gains and losses on investments bought and sold as well as held during the year. Earnings on investments are allocated on a pro rata basis to individual participant accounts based on the type of investment and the ratio of each participant’s individual account balance to the aggregate of participant account balances. For notes receivable from participants, the portion of interest included in each loan payment made by a participant is recognized as interest income in the participant’s individual account. |
| Contributions Income | Contributions Income The Plan records employer and employee contributions receivable when compensation is paid and deferrals are withheld. The Plan has adopted ASC 326, Financial Instruments - Credit Losses. In accordance with ASC 326, no allowance for credit losses has been recorded at December 31, 2025, as employer and employee contributions receivable have never historically incurred losses and current conditions and supportable forecasts show zero risk of nonpayment. |
| Notes Receivable from Participants | Notes Receivable from Participants Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on the accrual basis. Related maintenance fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded as of December 31, 2025 and 2024. Delinquent loans are treated as distributions based upon the terms of the Plan document. |
| Payment of Benefits | Payment of Benefits Benefits are recorded when paid. |
| Administrative Expenses | Administrative Expenses Certain expenses of maintaining the Plan are paid directly by the Company and are excluded from these financial statements. Fees related to the administration of notes receivable from participants are charged directly to the participant’s account and are included in administrative expenses. Investment-related expenses are included in net appreciation in fair value of investments. |
| Events Occurring After Reporting Date | Events Occurring After Reporting Date Plan management has evaluated events and transactions that occurred between December 31, 2025 and the issuance of the report for possible recognition or disclosure in the financial statements. |