Colony Bankcorp is scheduled to complete its purchase of First Reliance Bancshares on Nov. 1, but First Reliance Bank customers are not due to be moved onto Colony Bank’s systems until the second quarter of 2027. Colony’s third-quarter investor presentation lists the “anticipated legal closing on November 1st,” after regulators signed off on Sept. 17 and shareholders of both companies voted their approval on Oct. 14.
For a depositor in Florence, Greenville or Myrtle Beach, the useful question is what a legal closing changes on an ordinary Monday morning. According to the banks’ customer page, the answer for now is nothing: no immediate changes to accounts, services, branch locations, online banking, mobile banking or debit cards…