Gateway First Bank has agreed to acquire Colonial Savings, F.A., a Texas-based institution with six locations across the greater Fort Worth market. The transaction is expected to close in the first quarter of 2027, subject to regulatory approvals and standard closing conditions.
Gateway announced the deal in a post on X and said the two organizations share a commitment to homeownership, relationship banking and customer service. The announcement did not disclose financial terms.
Colonial President and CEO Jim DuBose said, "Both organizations share a belief that financial services should be built around relationships, trust, and local decision-making." Gateway CEO Kyle Hubbard said Colonial has built a legacy around service, community relationships and helping families.
Gateway is headquartered in Jenks, Oklahoma, and has more than $2 billion in assets. It operates banking centers across Oklahoma, more than 60 mortgage locations nationwide and has about 600 employees.
Gateway First Bank was formed in 2019 after Gateway Mortgage Group completed its merger with Farmers Exchange Bank. Colonial was founded in 1952 as Fort Worth Mortgage to provide residential home loans in North Texas and remains privately held.
Performance Trust Capital Partners and Otteson Shapiro LLP are advising Gateway on the transaction. Colonial is advised by Olsen Palmer LLC and Bradley Arant Boult Cummings LLP.
