Gateway First Bank agreed to acquire Colonial Savings, expanding its deposit and mortgage franchise in the Fort Worth area. 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 long-established regional deposit base and housing-finance presence. HousingWire reported that Gateway had originated about $1.4 billion of mortgages year to date. The acquisition therefore adds branches and customers while deepening the combined company’s exposure to residential finance.
The six acquired locations are concentrated around Fort Worth, giving Gateway a denser physical presence in North Texas. The parties did not publish expected cost savings, purchase consideration or integration expenses. Those missing terms limit an immediate assessment of the transaction’s financial return and capital impact.
APPROVALS SET THE TIMETABLE
The proposed first-quarter closing gives the banks several months to obtain approvals and prepare systems, staff and customer communications. Until those steps are complete, Colonial will continue operating separately. Any regulatory conditions or changes to the timetable would be material to the deal’s execution.
The next milestones are the regulatory filings, disclosure of any required approvals and confirmation of the final closing date. Customers and employees will also watch for decisions on branding, branch overlap, systems and account migration. The transaction’s strategic value will ultimately depend on retaining deposits while managing Gateway’s existing mortgage concentration without disrupting service.