Shareholders of Colony Bankcorp approved the previously announced acquisition of First Reliance Bancshares in a special meeting, marking the completion of required shareholder approvals for the transaction. The deal, valued at approximately $163 million, involves Colony acquiring 100% of First Reliance's stock through a combined stock-and-cash structure. With regulatory approvals already secured, the companies anticipate closing the merger in the fourth quarter of 2026. Upon completion, Colony is expected to hold approximately $5 billion in total assets and expand its banking presence across Georgia, South Carolina, and Florida. Colony Bankcorp operates as a bank holding company providing personal and business banking solutions.
