Fort Worth’s long‑standing thrift, Colonial Savings, announced it will be acquired by Gateway First Bank, a state‑chartered bank headquartered in Jenks, Oklahoma. The transaction, valued at an undisclosed price, is slated to close in the first quarter of 2027.
Local roots meet regional expansion
Founded in 1952 by James DuBose as Fort Worth Mortgage Corp., the institution grew into Colonial Savings after acquiring a Lewisville‑based savings and loan in 1972. Over the decades, the bank has focused on residential mortgages, helping post‑World‑II families secure homes across North Central Texas. Today, Colonial Savings holds roughly $502 million in assets and operates several branches serving Fort Worth neighborhoods.
“Both organizations share a belief that financial services should be built around relationships, trust and local decision‑making,” said Jim DuBose, president and CEO of Colonial Savings, in a statement. “This partnership creates exciting opportunities for our customers, employees and communities while preserving the values that have been central to Colonial’s success.”
Gateway First Bank’s growth strategy
Gateway First Bank, with $2.1 billion in assets, is a regional player that offers both banking and mortgage services. The bank operates more than 60 locations and employs roughly 600 staff members. Its acquisition of Colonial Savings expands Gateway’s footprint into the Fort Worth market, adding a trusted local brand to its portfolio.
“Colonial has built an impressive legacy centered on exceptional service, strong community relationships, and helping families and businesses achieve their financial goals,” said Kyle Hubbard, CEO of Gateway First Bank. “We look forward to bringing our broader mortgage capabilities to Fort Worth while honoring Colonial’s heritage.”
What the merger means for customers
Following the acquisition, all Colonial Savings branches will be rebranded as Gateway First Bank. Existing customers can expect a seamless transition, with continued access to mortgage products, checking and savings accounts, and personal banking services. The combined institution aims to leverage Gateway’s larger national mortgage platform while maintaining the local decision‑making that Colonial’s customers value.
Colonial Savings previously closed its mortgage origination business in 2023, shifting to a full‑service banking model that includes mortgage servicing. The merger positions the new entity to re‑expand mortgage origination under Gateway’s broader network, potentially offering more competitive rates and a wider array of loan options.
Historical context and local impact
Colonial Savings survived the 1980s thrift crisis by staying focused on residential lending and avoiding risky commercial expansion—a strategy that preserved its stability when many Texas thrifts failed. The bank’s legacy of community‑focused service aligns with Gateway’s stated commitment to relationship banking.
The deal adds to a recent wave of financial consolidations in North Texas. Last year, Fifth Third Bank acquired Dallas‑based Comerica Bank in a $10.9 billion transaction, and Ohio’s Huntington Bank purchased Veritex Bank. These moves reflect a broader trend of larger regional banks seeking growth through strategic acquisitions of locally trusted institutions.
Looking ahead
With the acquisition set to close early next year, both banks anticipate a smooth integration process. Employees of Colonial Savings will become part of Gateway First Bank’s workforce, and the combined entity expects to create new job opportunities as it expands services throughout the Fort Worth area.
Community leaders have expressed optimism that the merger will preserve the personal touch of local banking while providing access to the resources of a larger institution. As the transaction moves forward, customers are encouraged to stay informed through communications from both banks.
Original reporting: Fort Worth Report — read the source article.
