Colony Bankcorp, Inc. and First Reliance Bancshares, Inc. Announce Shareholder Approval of Merger
Key Highlights
- ➤Shareholders approve Colony Bankcorp’s acquisition of First Reliance Bancshares
- ➤$163 million stock-and-cash transaction targets fourth-quarter 2026 closing
- ➤Colony expects approximately $5 billion assets after merger completion
- ➤Combined company projected at $4 billion deposits and $3.2 billion loans
- ➤Merger expands banking presence across Georgia, South Carolina, and Florida
Expert Statements
Heath Fountain, Chief Executive Officer of Colony Bankcorp
“The shareholder approvals bring us one step closer to welcoming First Reliance to Colony and expanding our presence across the Southeast”
Heath Fountain, Chief Executive Officer of Colony Bankcorp
“We're excited about the strength this partnership adds to our organization and the opportunities it creates as we continue growing our community banking franchise.”
Rick Saunders, Founder and Chief Executive Officer of First Reliance Bancshares
“We're grateful to our shareholders for their confidence in this next chapter for First Reliance”
Rick Saunders, Founder and Chief Executive Officer of First Reliance Bancshares
“We've built something special over the past 27 years, and I'm proud that we'll carry that legacy forward as part of Colony.”
Colony Bankcorp, Inc. and First Reliance Bancshares, Inc. Announce Shareholder Approval of Merger
Colony Bankcorp, Inc. (NYSE: CBAN) (“Colony” or the “Company”), the holding company for Colony Bank, and First Reliance Bancshares, Inc. (OTCQX: FSRL) (“First Reliance”), the holding company for First Reliance Bank, today jointly announced that shareholders of both companies have approved the previously announced transaction through which First Reliance will become part of Colony (the “Merger”).
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