Georgia-based Colony Bankcorp, the holding company for Colony Bank, recently announced it has completed its merger with First Reliance Bancshares, the holding company for First Reliance Bank, effective Nov. 1.
“Today marks an important milestone in Colony’s continued growth,” T. Heath Fountain, Colony CEO, said. “From the beginning, we recognized a strong alignment between our teams, cultures, and approach to community banking. First Reliance has built an outstanding organization with deep customer relationships and a strong reputation in its markets. Together, we have the talent, scale, and capabilities to compete effectively and capitalize on the opportunities ahead. We’re excited to welcome the First Reliance team and build on the success of both organizations.”
The merger strengthens Colony’s competitive position, supports its long-term growth strategy and expands its presence into South Carolina with the addition of First Reliance’s nine banking locations. The combined company has approximately $5 billion in assets.
First Reliance customers will continue banking through their existing accounts, locations, and digital banking services. Integration efforts will be ongoing as the bank prepares for a systems conversion in mid-2027.
“Colony shares our belief in strong relationships, local leadership, and investing in the communities we serve,” Rick Saunders, First Reliance founder and CEO, said.
Colony Bankcorp operates locations throughout Georgia and North Florida.