COLONY BANKCORP INC (CBAN) Form 8-K — Nov 2, 2026
$CBANForm 8-KItems 2.01, 2.03, 5.02, 8.01, 9.01Filed Nov 2, 2026, 8:35 AM ET0001104659-26-120966Original filing
Colony Bankcorp (NYSE: CBAN) completed its merger with First Reliance Bancshares effective November 1, 2026, with FSRL merging into Colony and First Reliance Bank merging into Colony Bank. The combination creates a Southeast community banking franchise with approximately $5 billion in assets and locations across Georgia, South Carolina, and Florida. Former FSRL holders received, at their election, either $19.75 in cash or 0.94 CBAN shares per share, subject to proration capping stock consideration at 80%.
Key figures
- Deal Value Usd
- 0
- Gross Proceeds
- 0
- Shares Offered
- 6185975
- Combined assets
- approximately $5 billion
- Saunders salary
- 450000
- Stock exchange ratio
- 0.94 CBAN shares per FSRL share
- Cash consideration paid
- 32662112
- Saunders retention bonus
- 1210000
- Subordinated notes assumed
- up to $10,000,000 principal, 3.375% fixed-to-floating (3M SOFR + 245bps from Oct 1, 2026), due Oct 1, 2031
- Per share cash consideration
- 19.75
- Junior subordinated debentures assumed
- up to $10,310,000, due Nov 23, 2035
AI analysis
Red flags3 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.