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.
Key figures
- Deal Value Usd
- 163000000
- Deal structure
- stock-and-cash, Colony acquires 100% of First Reliance common stock
- Expected close
- Q4 2026
- Combined total loans
- 3200000000
- Combined total assets
- 5000000000
- Shareholder vote date
- October 14, 2026
- Combined total deposits
- 4000000000
- Definitive agreement date
- June 24, 2026
- First reliance total assets
- 1100000000
AI analysis
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