Gateway First Bank agreed to acquire Colonial Savings, expanding its presence in Texas with six locations in the greater Fort Worth market. The transaction will add six locations, according to Gateway’s announcement. Financial terms were not disclosed, and closing is expected in the first quarter of 2027.
The companies said completion remains subject to regulatory approvals and customary closing conditions. Colonial was founded in 1952 and is a Texas bank with a longstanding mortgage-lending history. Gateway said it has more than $2 billion in assets, over 60 mortgage locations and about 600 employees.
COMBINING BANKING AND MORTGAGES
Gateway operates a community bank alongside a national mortgage platform, while Colonial brings a longstanding local franchise and customer relationships in the Fort Worth area; HousingWire noted that it exited mortgage originations in 2023 and later left mortgage servicing. HousingWire reported that Gateway had originated about $1.4 billion of mortgages year to date.
Gateway said the combination strengthens its presence in Texas. The parties did not publish expected cost savings, purchase consideration or integration expenses. Gateway was advised by Performance Trust Capital Partners and Otteson Shapiro, and Colonial by Olsen Palmer and Bradley Arant Boult Cummings.
APPROVALS SET THE TIMETABLE
Gateway said information on customer and operational transitions will be communicated directly as integration plans move forward.
Gateway CEO Kyle Hubbard said the bank was 'honored to welcome Colonial’s customers and team members to Gateway'.