Colony Bankcorp, the holding company for Colony Bank, appointed T. Heath Fountain as its president and CEO. Fountain succeeds Edward P. Loomis, Jr., who is retiring from the company after six years of service.
Fountain most recently served as president and CEO of Planters First Bank. During his tenure there, he led growth initiatives that included adding two new markets, a secondary market mortgage division and increasing loans and deposits over $50 million in three years. Prior to joining Planters, Fountain was the chief financial officer of Albany, GA-based Heritage Financial Group and HeritageBank of the South. While at Heritage, he was a key member of the executive team that grew the bank from six Albany offices and under $400 million in assets to a $1.8 billion financial services company with over 50 offices spanning four states.
Commenting on the announcement, Mark H. Massee, chairman of the board of Colony, said, “It is exciting to have someone with Heath’s strategic vision and experience to lead Colony into an era of profitable growth. We think we have tapped the right leader for what is sure to be an exciting phase for our company and our team members.”
Colony also signed a definitive agreement to purchase the Albany branch of Planters First Bank. The transaction, which is expected to close in the fourth quarter of 2018, subject to regulatory approval and other customary conditions, is expected to result in the transfer of approximately $20 million in loans and $10 million in deposits.
Kimberly C. Dockery, who previously served as chief administrative officer at Planters, will also join Fountain at Colony, where she will serve in the same capacity. Prior to her tenure at Planters, Dockery worked with Fountain at HeritageBank for nine years, where she played a key role in supporting the successful organic and acquisition growth of that bank.
