First Reliance Bancshares, Inc.

Colony Bankcorp, Inc. and First Reliance Bancshares, Inc. Announce Shareholder Approval of Merger

Shareholders of both Colony Bankcorp and First Reliance Bancshares approved the previously announced merger, following receipt of all necessary regulatory approvals. The deal, announced June 24, 2026, is a stock-and-cash transaction valued at approximately $163 million, with closing anticipated in Q4 2026 subject to customary conditions. Upon completion, Colony is expected to have roughly $5 billion in assets, $4 billion in deposits, and $3.2 billion in loans across Georgia, South Carolina, and Florida.

•13d ago

Colony Bankcorp, Inc. and First Reliance Bancshares, Inc. Announce Regulatory Approvals Received for Merger

Colony Bankcorp (NYSE: CBAN) and First Reliance Bancshares (OTCQX: FSRL) have obtained all regulatory approvals for their proposed merger, in which First Reliance will consolidate into Colony. The deal still needs approval from both shareholder bases, with special meetings scheduled for October 14, 2026, and both management teams said integration planning remains on track for a targeted fourth-quarter close. The June 24, 2026 definitive agreement values the stock-and-cash transaction at approximately $163 million; upon completion, the combined company would have roughly $5 billion in total assets, $4 billion in deposits, and $3.2 billion in loans, positioning Colony among the leading community banks in the Southeast.

•1mo ago

Colony Bankcorp, Inc. and First Reliance Bancshares, Inc. Sign Definitive Merger Agreement to Create Transformational Southeast Banking Partnership

Colony Bankcorp signed a definitive agreement to acquire First Reliance Bancshares for approximately $163 million in a stock-and-cash transaction, significantly expanding its footprint across the Southeast. The combined institution will hold roughly $5 billion in assets, $4.0 billion in deposits, and $3.2 billion in loans, with the transaction expected to be immediately accretive to Colony’s earnings per share. First Reliance shareholders may elect to receive $19.75 in cash or 0.94 shares of Colony common stock, with the deal expected to close in the fourth quarter of 2026 subject to regulatory approvals.

•4mo ago