Colony Bankcorp, Inc. announced the acquisition of The Ellerbee Agency, an Allstate appointed consumer property and casualty insurance agency, on April 1, 2025. The Ellerbee Agency will integrate into Colony Insurance, the company's wholly-owned insurance subsidiary.
This acquisition expands Colony Insurance's footprint and customer base by adding two new office locations in Monroe, Georgia, and Greensboro, Georgia. Sean Ellerbee, the agency's leader, and eleven experienced agents will join Colony Insurance's leadership team.
The acquisition is expected to be immediately accretive to Colony Bankcorp's earnings per share by approximately $0.02 in the first full year. This move supports the company's strategy of efficient growth, scalable expansion, and the long-term goal of growing noninterest income.
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