Jun
24
2026
Press Release
Colony Bankcorp, Inc. and First Reliance Bancshares, Inc. Sign Definitive Merger Agreement to Create Transformational Southeast Banking Partnership
FITZGERALD, GA. and FLORENCE, SC (June 24, 2026) – 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 the signing of a definitive merger agreement in which Colony has agreed to acquire 100% of the stock of First Reliance in a combined stock-and-cash transaction valued at approximately $163 million (the “Merger”). This strategic combination will create a transformational partnership, significantly expanding the combined institution’s footprint across premier, high-growth markets in Alabama, Florida, Georgia and South Carolina.
