Colony Bankcorp completed its merger with First Reliance Bank, issued about 6.2 million shares, paid about $32.7 million, and assumed debt obligations. The filing gives no results on the added bank, so it does not show whether the deal helps or hurts Colony’s business.
Colony now includes First Reliance Bank, but the filing gives no figures for the added bank’s deposits, profits, or costs. The payment, share issue, and debt obligations are real, yet the report does not show how the acquired business changes Colony’s results.
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