Colony Bankcorp Files S-4 for First Reliance Merger, Sets October 14 Vote
CBAN sits 41% above its 52-week low of $15.8 on light trading volume (0.4× avg).
Summary
Colony Bankcorp filed its S-4 for the First Reliance Bancshares acquisition, setting an October 14 shareholder vote and revealing the issuance of about 6.19 million shares as merger consideration.
Key Events · M&A and Partnerships · CBAN
-
S-4 Filed for First Reliance Merger
Colony Bankcorp filed its S-4 registration statement for the acquisition of First Reliance Bancshares, providing detailed terms of the merger announced on June 24, 2026.
-
Shareholder Vote Set for October 14
Colony shareholders will vote on the stock issuance proposal at a special meeting on October 14, 2026, with a record date of August 19, 2026.
-
6.19 Million Shares to Be Issued
The merger will result in the issuance of approximately 6,185,975 shares of Colony common stock, representing 80% of the consideration, with the remaining 20% paid in cash at $19.75 per FSRL share.
-
Termination Fee Disclosed
FSRL may be required to pay a termination fee of $6.6 million if the merger agreement is terminated under certain circumstances, including a superior proposal.
Analysis · CBAN · Finance
Colony Bankcorp filed its S-4 registration statement for the acquisition of First Reliance Bancshares, providing the first detailed look at the deal terms since the June 24 announcement. The filing sets the Colony shareholder vote for October 14, 2026, and reveals that approximately 6.19 million Colony shares will be issued as consideration. The deal is structured as 80% stock and 20% cash, with a fixed exchange ratio of 0.94 Colony shares per FSRL share. The filing also discloses a $6.6 million termination fee and details the treatment of FSRL equity awards. This is a significant step toward completing a merger that will expand Colony's footprint into South Carolina and create a combined bank with over $4.7 billion in assets.
How filings like this one have moved
In the 30 days to Oct 16, 2026, 36.8% of the 990 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.55%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CBAN was trading at $22.27 on NYSE in the Finance sector, with a market capitalization of approximately $472.6M. The 52-week trading range was $15.80 to $22.46. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.