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.
Key figures
- Deal Value Usd
- 163000000
- Target assets
- $1.1 billion
- Pro forma loans
- $3.2 billion
- Expected closing
- Q4 2026
- Pro forma total assets
- $5 billion
- Pro forma total deposits
- $4 billion
AI analysis
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