First Reliance Bancshares, Inc. was acquired by Colony Bankcorp Inc on November 1, 2026, according to the Form 8-K Colony Bankcorp Inc filed with the SEC. The filing states a price of $32.7 million. It is one of 2 completed acquisitions Colony Bankcorp Inc reported in the last twelve months (Form 8-K, November 2, 2026).
COLONY BANKCORP INC agreed to acquire First Reliance Bancshares, Inc. on Nov 2. 1 companies announced an acquisition this week.
Companies in an acquisition this week, and the deal. Before you unlock: the company, the deal and what is inside. After: every way we found to reach the company, and anyone a source names. A team joining the buyer is labelled only when the filing itself says so.
| Bowman Consulting Group Ltd. | agreed to be acquired by Prive Parent, Inc. |
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Colony Bankcorp Inc completed its acquisition of First Reliance Bancshares, Inc. on 2026-11-01, according to the Form 8-K Colony Bankcorp Inc filed with the SEC on 2026-11-02. The filing states a price of $32.7 million.
| Acquirer | Colony Bankcorp Inc |
|---|---|
| Acquired | First Reliance Bancshares, Inc. |
| Completed | 2026-11-01 |
| Price stated in the filing | $32.7 million |
| Reported by | Colony Bankcorp Inc (CBAN), the buyer |
| Filing | Form 8-K, filed 2026-11-02 |
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What the filing says
Effective November 1, 2026, Colony Bankcorp, Inc., a Georgia corporation (the "Company"), completed its previously announced merger (the "Merger") with First Reliance Bancshares, Inc., a South Carolina corporation ("FSRL"), pursuant to the Agreement and Plan of Merger by and between the Company and FSRL, dated as of June 24, 2026 (the "Merger Agreement").
How much did Colony Bankcorp Inc pay for First Reliance Bancshares, Inc.?
As a result of the Merger, the Company will issue approximately 6,185,975 shares of Company common stock and pay approximately $32,662,112 in cash (including cash in lieu of fractional shares and payments in respect of cancelled FSRL Options) to former holders of FSRL stock and FSRL equity awards.
More from the filing
At the effective time of the Merger (the "Effective Time"), FSRL merged with and into the Company, with the Company continuing as the surviving corporation.
Immediately following the Merger, First Reliance Bank, a South Carolina state-chartered bank and wholly-owned subsidiary of FSRL, merged with and into Colony Bank, a Georgia state-chartered bank and wholly-owned subsidiary of the Company, with Colony Bank continuing as the surviving bank.
Pursuant to the Merger Agreement, at the Effective Time, each share of FSRL common stock and FSRL preferred stock (together, "FSRL Stock") issued and outstanding immediately prior to the Effective Time, other than dissenting shares and certain cancelled shares, was converted into the right to receive, at the election of the holder, either (i) $19.75 in cash, without interest (the "Per Share Cash Consideration"), or (ii) 0.94 shares of the Company's common stock (the "Per Share Stock Consideration"), with cash paid in lieu of fractional shares.
Quoted from Colony Bankcorp Inc's Form 8-K.
Other acquisitions by Colony Bankcorp Inc
| Completed | Acquired | Price stated |
|---|---|---|
| 2025-12-01 | TC Bancshares, Inc. | $15.4 million |
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Look up Colony Bankcorp IncWhere this comes from
A public company must file a current report on Form 8-K with the SEC within four business days of completing a significant acquisition or disposition of assets, under Item 2.01 of the report. The acquired company sometimes files one too, when the deal makes it a subsidiary of the buyer.
Every fact on this page is taken from one of those filings and linked to it: which company acquired which, the date the filing gives for completion, and the price when the filing states one in dollars, shown next to the sentence that states it. A filing states what was bought and on what terms; it rarely states why, and neither does this page.