Under the terms of the pending agreement, shareholders of First Reliance are slated to receive either $19.75 in cash or 0.94 shares of Colony Bankcorp common stock for each share held. The investigation aims to determine whether the financial structure of the deal adequately compensates investors or if the board failed to fulfill its fiduciary obligations during negotiations.

Monteverde & Associates, which operates out of the Empire State Building, is inviting stockholders to review the transaction specifics. The firm, recognized in the 2025 ISS Securities Class Action Services Report, is offering a free consultation for those holding Colony Bankcorp common stock who seek to understand their rights regarding this corporate consolidation. Interested parties can reach out to the firm via email or phone to discuss the implications of the merger and potential legal challenges.