Colonial Savings, F.A., a Fort Worth mortgage and banking institution with roots stretching back to 1952, has agreed to be acquired by Gateway First Bank, a state-chartered bank headquartered in Jenks, Oklahoma. The deal, expected to close in the first quarter of 2027, will bring Colonial’s six greater Fort Worth locations under the Gateway name, and financial terms of the transaction were not disclosed.
Gateway announced the agreement in a statement posted to its newsroom, describing Colonial as “a Texas-based financial institution serving customers through six locations across the greater Fort Worth market.” Gateway said the transaction is expected to close in the first quarter of 2027, subject to regulatory approvals and other customary closing conditions, and the bank framed the combination as a way to strengthen its presence in Texas and expand its ability to offer customers a fuller suite of financial services. As the Fort Worth Report notes, the acquisition also means Colonial Savings locations will be rebranded under the Gateway First Bank name.
The sale marks the end of an era for a company with deep family roots in North Texas. Colonial traces its origins to Fort Worth Mortgage Corp., founded in 1952 by James DuBose after he returned from World War II, providing residential home loans to communities across north central Texas. In 1972, Fort Worth Mortgage acquired a Lewisville, Texas company and took on the Colonial Savings name. James DuBose died in 2017, and his son, Jim DuBose, now serves as president and CEO of Colonial Savings.
Leaders Frame the Deal as a Values Match
Jim DuBose said both organizations share a belief that financial services should be built around relationships, trust and local decision-making, and that the partnership creates opportunities for customers, employees and communities while preserving Colonial’s values, according to the Fort Worth Report. Gateway CEO Kyle Hubbard said Colonial has built an impressive legacy centered on exceptional service, strong community relationships and helping families and businesses achieve their financial goals, per the same report. Colonial’s own website echoes that framing, stating that Gateway First Bank shares its commitment to local communities and a high-touch approach to customer service, according to gocolonial.com…