At the following link, Mathews is quoted as saying that the color bearer was killed:
http://38thga.com/drupal/node/139
Capt. William C. Mathews of Company G, the Battey Guards, recalled, the 38th Ga. Regt. was, "surprised and driven off, losing one man killed and two wounded, and I am sorry to say we lost in this little fight our battle flag that we had carried from Savannah, Georgia. Our color bearer was killed and in the confusion of the retreat it was forgotten."
Were any of the Powells killed?