Key facts
- Gateway First Bank will acquire Colonial Savings F.A.
- Colonial Savings has six locations in the Greater Fort Worth market.
- The transaction is expected to close in the first quarter of 2027.
- Gateway originated about $1.4 billion in mortgages year to date.
- Colonial Savings had a servicing portfolio valued at about $20 billion through mid-2024.
- Colonial Savings had assets of approximately $1 billion through mid-2024.
Oklahoma-based Gateway First Bank has agreed to acquire Colonial Savings F.A., a Texas-based bank with six locations in the Greater Fort Worth market. The deal aims to expand Gateway's mortgage-focused banking model. Financial terms were not disclosed, and the transaction is expected to close in the first quarter of 2027, pending regulatory approvals.
Gateway has been building its combined banking and mortgage model, originating 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 approximately 213 loan officers. 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 Savings, 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.
Gateway was advised on the transaction by Performance Trust Capital Partners LLC, while Colonial was advised by Olsen Palmer LLC.