Colony Bankcorp Opens Small Business Specialty Lending Group; Names Darren Davis as President and Stephen T. Kruto as Director of Operations of New Unit
July 03, 2019 at 09:00 am EDT
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Colony Bankcorp, Inc. announced that it has opened a Small Business Specialty Lending Group focusing on Small Business Administration (SBA) lending and other government guaranteed loans. The newly created division will be based in metro Atlanta and will be led by two veteran bankers.
The company also announced that Darren Davis will join Colony and serve as President of the new Small Business Specialty Lending Group, and Stephen T. Kruto will join Colony as Director of Operations of the new unit. Davis most recently served as Executive Vice President SBA Department Manager at Fidelity Bank (now Ameris Bank). Kruto also comes from Fidelity Bank, where he served as Senior Vice President and Operations Manager since 2014. Prior to joining Fidelity Bank, he held various positions with financial institutions in the Chicago, Illinois, area, including Vice President and Integration Manager for JPMorgan Chase, as well as Manager Treasury and Cash Operations for Security Link from Ameritech, Inc.
Colony Bankcorp, Inc. is a financial service and a bank holding company. The Companyâs business is conducted through its bank subsidiary, Colony Bank (the Bank), a Georgia state-chartered commercial bank. The Bank provides a range of banking services to its retail and commercial customers. The Company operates through three segments: Banking Division, Retail Mortgage Division and Small Business Specialty Lending Division. The Banking Division delivers full service financial services, including commercial loans, consumer loans and deposit accounts. The Retail Mortgage Division offers services for one-to-four family residential mortgage loans. The Small Business Specialty Lending Division offers small business administration and United States Department of Agriculture (USDA) government guaranteed loans. Its product line includes loans to small and medium-sized businesses, residential and commercial construction and land development loans, commercial real estate loans and others.
Colony Bankcorp Opens Small Business Specialty Lending Group; Names Darren Davis as President and Stephen T. Kruto as Director of Operations of New Unit