Recent Updates — CBAN
Colony Bankcorp reported third-quarter net income of $10.5 million, or $0.50 per diluted share, compared to $10.9 million in the prior quarter and $5.8 million a year ago. The board declared a quarterly cash dividend of $0.12 per share, payable November 25 to record holders on November 11. Concurrently, the company completed an initial sale-leaseback of two branch properties for $16.2 million and entered into agreements to sell a third property in Tifton for $3.7 million, bringing the total transaction value to approximately $19.9 million. The bank will lease back the facilities under a 15-year triple-net lease with an initial annual base rent of $1.34 million, rising to $1.65 million upon closing the third sale. Colony Bankcorp operates community banking and financial services in Georgia and North Florida.
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.
Colony Bankcorp, Inc. announced it has received all required regulatory approvals to complete its merger with First Reliance Bancshares, Inc., a previously signed stock-and-cash transaction valued at approximately $163 million. The consolidation is expected to close on November 1, 2026, pending shareholder approvals and customary closing conditions, with special meetings scheduled for October 14, 2026. Upon completion, the combined entity will hold approximately $5 billion in total assets, $4 billion in deposits, and $3.2 billion in loans. Additionally, the company disclosed that R. Dallis Copeland, Jr. entered into a new two-year employment agreement as President effective September 13, 2026, with an annual base salary of $400,000 and specific change-in-control severance provisions. Colony Bankcorp operates in the banking industry as a community bank holding company serving Georgia and North Florida.
Colony Bankcorp, Inc. reported second quarter 2026 net income of $10.9 million, or $0.51 per diluted share, increasing from $8.2 million in the first quarter of 2026. Total loans reached $2.46 billion as of June 30, 2026, representing a 2.13% increase from the prior quarter. Total deposits were $2.97 billion, down from $3.05 billion on March 31, 2026. The company also announced a strategic merger with First Reliance Bancshares, Inc., expected to close in the fourth quarter of 2026, which is projected to provide approximately 20% earnings accretion. Colony Bankcorp, Inc. is a bank holding company providing personal and business banking solutions.
Colony Bankcorp, Inc. entered into a merger agreement with First Reliance Bancshares, Inc. to merge FSRL into the Company. FSRL shareholders can elect to receive either $19.75 in cash or 0.94 shares of Colony Bankcorp common stock per share, with an allocation of approximately 20% cash and 80% stock. The transaction is expected to close in the fourth quarter of 2026. Colony Bankcorp, Inc. is a financial services company providing banking services.