Colony Bankcorp, First Reliance Bancshares Receive All Regulatory Approvals for Merger

09:20 AM EDT, 09/17/2026 (MT Newswires) -- Colony Bankcorp (CBAN) and First Reliance Bancshares said Thursday that they had received all required regulatory approvals for their proposed merger. Under the terms of the deal, which was announced in June, Colony agreed to acquire 100% of First Reliance common stock in a combined stock-and-cash transaction valued at approximately $163 million. The two said the combined company will have approximately $5 billion in total assets, $4 billion in total deposits, and $3.2 billion in loans. The merger is still subject to approval by both companies' shareholders, as well as other customary closing conditions. The special meetings for both companies are slated for Oct. 14.