Colony Bankcorp's First Reliance Merger Prospectus Goes Effective; Vote Set for October 14
CBAN sits 35% above its 52-week low of $15.8.
Summary
Colony Bankcorp's final merger prospectus is now effective, setting an October 14 shareholder vote on its $163 million acquisition of First Reliance Bancshares. The deal will issue ~6.19 million Colony shares, with former FSRL holders owning ~22.57% of the combined bank.
Key Events · M&A and Partnerships · CBAN
-
Final Prospectus Declared Effective
The SEC declared Colony's S-4 registration effective, allowing the joint proxy statement/prospectus to be mailed to shareholders on or about August 31, 2026.
-
Share Issuance Quantified
Colony will issue approximately 6,185,975 shares of common stock as merger consideration, subject to anti-dilution adjustments. Former FSRL shareholders will own approximately 22.57% of the combined company.
-
Shareholder Vote Scheduled
Both Colony and FSRL special meetings are set for October 14, 2026. FSRL approval requires two-thirds of votes entitled to be cast; Colony approval requires a majority of shares represented at the meeting.
-
Merger Consideration Terms
Each FSRL share converts to either $19.75 cash or 0.94 Colony shares, with approximately 20% cash and 80% stock allocation. At Colony's $21.38 price on August 24, the stock consideration was worth approximately $20.10 per FSRL share.
Analysis · CBAN · Finance
The SEC has declared Colony's S-4 registration effective, clearing the final regulatory hurdle before shareholders vote on the $163 million First Reliance Bancshares acquisition. The prospectus confirms Colony will issue approximately 6.19 million shares, giving former FSRL holders about 22.57% of the combined company. With both boards unanimously recommending approval and insider voting agreements covering 14.21% of FSRL stock, the October 14 vote is the last major step before closing, expected in Q4 2026.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 29.9% of the 1591 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.24%. 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 $21.29 on NYSE in the Finance sector, with a market capitalization of approximately $451.8M. The 52-week trading range was $15.80 to $22.46. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.