Another SC bank changes hands: First Reliance joins Georgia's Colony Bank

Florence-based First Reliance Bank, which runs nine offices including one in Mount Pleasant, has been acquired by Fitzgerald, Georgia-based Colony Bank. The Post and Courier reports the $163 million deal closed Nov. 1, creating a four-state bank with about $5 billion in assets, $4 billion in deposits and $3.2 billion in loans across more than 40 branches. Customer accounts move to Colony's systems by mid-2027.

Why this matters here

When a community bank gets folded into a larger one, small-business borrowers usually notice it in who answers the phone and who signs off on a line of credit. The First Reliance name stays on branches for now and its executives are staying on, but the systems conversion is coming in mid-2027, so it is worth asking your banker what changes before your next renewal.