Oklahoma-based Gateway First Bank has agreed to acquire Colonial Savings F.A., expanding its mortgage-focused banking model in Texas. Financial terms were not disclosed.
The deal is designed to pair Gateway’s scale in mortgage lending and diversified banking with Colonial’s longstanding local franchise and customer relationships. Colonial has six locations across the Greater Fort Worth market.
The transaction is expected to close in the first quarter of 2027, subject to regulatory approvals and customary closing conditions, the companies said.
Gateway has leaned into its combined banking and mortgage model. It originated about $1.4 billion in mortgages year to date and $2.5 billion in 2025, up from $2.2 billion in 2024. The company has about 213 loan officers, according to RETR data.
Gateway reports more than $2 billion in assets, multiple banking centers across Oklahoma, and a national mortgage presence with more than 60 locations and about 600 employees.
“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 a statement.
Gateway has long positioned itself as a mortgage-centric bank. It became one of the nation’s larger independent mortgage lenders before combining that platform with a bank charter.
Colonial, founded in 1952, historically operated an integrated mortgage and banking business. It closed roughly $470 million in mortgages in the 12 months before announcing its exit from originations in May 2023, with production falling by about one-third amid rising interest rates and low housing inventory.
After that, Colonial focused on full-service banking and mortgage servicing. Through mid-2024, Colonial said it had a servicing portfolio valued at about $20 billion and assets of approximately $1 billion. Its website indicates that it has exited the servicing business as well.
“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.
Gateway was advised on the transaction by Performance Trust Capital Partners LLC, while Colonial was advised by Olsen Palmer LLC.