Colony Acquires First Reliance

Colony Bankcorp, Inc. (NYSE: CBAN ) ("Colony" or the "Company"), the holding company for Colony Bank, and First Reliance Bancshares, Inc. (OTCQX: FSRL ) ("First Reliance"), the holding company for First Reliance Bank, today jointly announced the signing of a definitive merger agreement in which Colony has agreed to acquire 100% of the stock of First Reliance in a combined stock-and-cash transaction valued at approximately $163 million (the "Merger").

This strategic combination will create a transformational partnership, significantly expanding the combined institution’s footprint across premier, high-growth markets in Alabama, Florida, Georgia and South Carolina.