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Colony Bankcorp and SouthCrest Financial Group to Combine in Transformational Merger

Press release content from Business Wire. The AP news staff was not involved in its creation.
Colony Bankcorp and SouthCrest Financial Group to Combine in Transformational Merger
April 22, 2021 GMT
FITZGERALD, Ga & ATLANTA (BUSINESS WIRE) Apr 22, 2021
Colony Bankcorp, Inc. (Nasdaq: CBAN) (“Colony” or “the Company”), the holding company for Colony Bank, and SouthCrest Financial Group, Inc. (PK: SCSG) (“SouthCrest”), the holding company for SouthCrest Bank, N.A., today jointly announced the signing of an Agreement and Plan of Merger under which Colony has agreed to acquire 100% of the common stock of SouthCrest in a combined stock-and-cash transaction valued at approximately $84.0 million. Upon completion of the transaction, Colony is expected to have approximately $2.4 billion in assets, $1.4 billion in loans, $2.0 billion in deposits, and $165.8 million in tangible common equity. The transaction is expected to be meaningfully accretive to Colony’s fu ....

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Colony Bankcorp Implements Branch Network Realignment Focused on Optimal Delivery and Cost-effective Operations

Colony Bankcorp Implements Branch Network Realignment Focused on Optimal Delivery and Cost-effective Operations
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Colony Bankcorp Implements Branch Network Realignment Focused on Optimal Delivery and Cost-effective Operations – IT Business Net

Colony Bankcorp Implements Branch Network Realignment Focused on Optimal Delivery and Cost-effective Operations – IT Business Net
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