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.
Key figures
- Deal Value Usd
- 163000000
- Target assets
- 1100000000
- Combined loans
- 3200000000
- Combined assets
- 5000000000
- Cash mix percent
- 20
- Combined deposits
- 4000000000
- Stock mix percent
- 80
- Stock exchange ratio
- 0.94
- Cash consideration per share
- 19.75
AI analysis
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