Colony Bankcorp, Inc. (Nasdaq: CBAN) (“Colony” or the “Company”), the bank holding company for Colony Bank (the “Bank”), today announced it has launched a Merchant Services division. Led by two industry veterans, the newly created division will offer businesses seamless solutions to accept and process customer payments. Steve Raines will join Colony as Director, Merchant Services and Tami Tetro will join as Merchant Sales Representative.

Commenting on the announcement, Heath Fountain, President and Chief Executive Officer, said, “We are very pleased to launch our Merchant Services division. The addition of Merchant Services furthers our strategic initiative to diversify our revenue stream and increase our non-interest income and is a logical extension to our existing products and services. With the addition of Merchant Services, we will be able to meet a greater range of our corporate clients’ needs while continuing to provide them with the local, personal, and efficient service they have come to expect from Colony.” 

Eddie Hoyle, Chief Banking Officer, stated, “We are excited to welcome Steve and Tami to Colony Bank. Their decades-long experience in Merchant Services will be an incredible asset as we work together to grow our newest offerings. Further, their dedication to delivering outstanding service and developing relationships that are beneficial to the customer fits squarely into our Colony Bank culture.”

Steve brings over twenty years of Merchant Services experience to Colony Bank. Most recently, Steve served as Director, Synovus Merchant Services. Tami has worked in the Merchant Services industry since 1992, most recently as a Sales Representative with Synovus Merchant Services.