Weekly Real Estate News
Summary
Gateway First Bank has agreed to acquire Fort Worth-based Colonial Savings, expanding Gateway's Texas banking and mortgage footprint. The transaction is expected to close in the first quarter of 2027, subject to regulatory approvals and customary closing conditions; financial terms were not disclosed.
Gateway First Bank has agreed to acquire Colonial Savings, F.A., a Fort Worth-area institution with deep roots in mortgage lending and community banking, in a transaction that would expand Gateway’s Texas presence and combine two companies whose histories are closely tied to housing finance.
The companies announced the agreement Thursday. The transaction is expected to close in the first quarter of 2027, subject to regulatory approvals and other customary closing conditions. Financial terms were not disclosed in Gateway’s announcement.
Colonial serves customers through six locations in the greater Fort Worth market. Gateway, headquartered in Jenks, Oklahoma, says it has more than $2 billion in assets, more than 60 locations and approximately 600 employees, with a national mortgage operation alongside its banking businesses.
A mortgage-rooted bank combination
The strategic overlap is unusually direct. Both institutions built substantial parts of their businesses around home finance before broadening into other banking services.
Gateway said the combined organization would offer personal and business banking, payment solutions, mortgage lending, treasury management, consumer lending and wealth management. Colonial also brings commercial lending and a longstanding Texas community-banking franchise.
“Colonial has built an impressive legacy centered on exceptional service, strong community relationships, and helping families and businesses achieve their financial goals,” Gateway CEO Kyle Hubbard said in the company’s announcement. “We are honored to welcome Colonial’s customers and team members to Gateway and look forward to building on the strengths of both organizations.”
Colonial President and CEO Jim DuBose said the companies share an emphasis on relationships, trust and local decision-making. Gateway said additional information about customer and operational transitions will be communicated as integration plans develop.
What is — and is not — final
The transaction is an announced acquisition agreement, not a completed deal. Closing remains contingent on regulatory approval and customary conditions. Gateway currently expects that process to conclude during the first quarter of 2027.
The announcement did not provide a purchase price, expected pro forma asset total, branch-consolidation plan, staffing targets or detailed mortgage-servicing integration plan. Those questions will matter as the transaction moves through regulatory review and the companies begin integration planning.
For the mortgage industry, the combination is another example of the continuing intersection between depository banking and mortgage scale. Gateway operates an integrated bank-and-mortgage model, while Colonial brings both local deposits and generations of home-finance experience in Texas. The acquisition would give Gateway a larger physical and relationship-banking base in one of the country’s largest housing markets while broadening the services available to Colonial customers.
Gateway was advised by Performance Trust Capital Partners as financial adviser and Otteson Shapiro as legal counsel. Colonial was advised by Olsen Palmer as financial adviser and Bradley Arant Boult Cummings as legal counsel.
Until approvals are received and the transaction closes, Gateway and Colonial remain separate institutions. The next meaningful developments will be regulatory filings and approvals, any additional transaction disclosures, and the companies’ eventual operating and mortgage-integration plans.
Gateway First Bank’s Sept. 17 announcement provides the transaction terms currently disclosed by the companies.
