Colony Bankcorp shareholders approve $163 million acquisition of First Reliance
Shareholders of Colony Bankcorp and First Reliance Bancshares voted to approve a merger valued at roughly $163 million. All required regulatory approvals have been obtained and the companies expect the transaction to close in the fourth quarter of 2026, subject to customary conditions. The deal will add about $5 billion of assets, $4 billion of deposits and $3.2 billion of loans to Colony’s balance sheet, expanding its footprint across Georgia, South Carolina and Florida.
Why it matters
The combined balance sheet size gives Colony a larger platform for revenue growth and cross‑selling opportunities, which could improve its earnings outlook (the company notes this in the press release). The merger also increases CBAN’s market presence in the Southeast, potentially enhancing its competitive position.
Key facts
- 1The merger transaction is valued at approximately $163 million. stocktitan.net
- 2Shareholders of both companies approved the merger. stocktitan.net
- 3All necessary regulatory approvals have been received. stocktitan.net
- 4The companies target a fourth‑quarter 2026 closing, pending customary conditions. stocktitan.net
- 5After completion, Colony is expected to hold roughly $5 billion in total assets. investing.com
- 6The combined entity would have about $4 billion in deposits. investing.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.