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Mergers & Acquisitions•25 June 2026•

1 min read

Colony Bankcorp to Acquire First Reliance in $163 Million Southeast Merger

Key Facts

1Colony Bankcorp agreed to acquire First Reliance Bancshares for $163 million to expand its presence in the Southeast U.S.

In a move reflecting the growing M&A wave among U.S. regional banks, Colony Bankcorp has agreed to acquire First Reliance Bancshares for $163 million, according to reports. The deal aims to expand Colony's presence in the Southeast, where First Reliance operates branches in South Carolina and Georgia.

The transaction comes as regional banks seek scale to offset cost pressures and regulatory burdens. According to market data, M&A among small- and mid-sized U.S. banks is accelerating, especially in high-growth regions like the Southeast.

Investors are watching for details on deal terms, including the premium and financing structure, which Colony has not yet disclosed. Regulatory approval, likely taking several months, remains a key milestone. If completed, the merger would strengthen Colony's standing among Southeast regional banks.