**First Reliance Bancshares Inc. (FSRL) shares surged by 20.3% on October 3, 2023, closing at $18.35 following a merger agreement with Colony Bankcorp valued at $163 million. This deal entails Colony acquiring 100% of First Reliance’s stock, with shareholders offered $19.75 in cash or 0.94 shares of Colony common stock. The transaction, contingent on regulatory and shareholder approvals, is expected to finalize in Q4 2026.**
**In anticipation of its upcoming quarterly earnings report, First Reliance is projected to report earnings of $0.40 per share, reflecting a year-over-year increase of 48.2%, while revenues are expected to drop by 5.6% to $13.14 million.**
**Colony Bankcorp’s latest financial metrics reflect a Zacks Rank of #3 (Hold) alongside a stable consensus EPS estimate of $0.88, corresponding to an 8.3% decrease from the previous year.**
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