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AI brief of an SEC Form 8-K · COLONY BANKCORP INC (CBAN)

Colony Bankcorp completes merger with First Reliance Bancshares, effective November 1, 2026

Neutral Impact 4 of 5 m&a Written later

Colony Bankcorp completed its merger with First Reliance Bancshares effective November 1, 2026, with First Reliance merging into Colony and its bank merging into Colony Bank. Former First Reliance holders receive $19.75 in cash or 0.94 Colony shares per share, and Colony will issue about 6,185,975 shares and pay about $32,662,112 in cash, which adds shares outstanding for existing shareholders. Colony also assumed First Reliance's subordinated notes and junior subordinated debentures, and its board grew from eight to ten directors.

Key points

  • Merger effective November 1, 2026; consideration of $19.75 in cash or 0.94 Colony shares per First Reliance share, with no more than 80% of FSRL stock convertible into shares
  • Colony to issue about 6,185,975 common shares and pay about $32,662,112 in cash to former First Reliance holders and equity award holders
  • Assumed up to $10,000,000 of 3.375% subordinated notes due October 1, 2031 and up to $10,310,000 of junior subordinated debentures due November 23, 2035
  • Board increased from eight to ten directors; F.R. Saunders, Jr. and Forrest R. Redden III appointed, with Saunders serving as Executive Vice Chairman of Colony Bank

The filing

CompanyCOLONY BANKCORP INC (CBAN)
Form8-K, current report
Filed with the SECNov 2, 2026, 8:35 AM ET
Accession number0001104659-26-120966

Items reported: 2.01 Acquisition or Disposition Completed2.03 New Direct Financial Obligation5.02 Director / Officer Change8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 02, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.