Oklahoma’s Gateway First Bank to Acquire Fort Worth’s Colonial Savings

Fort Worth's Colonial Savings, a long-standing financial institution with $502 million in assets, is set to be acquired by Gateway First Bank, based in Jenks, Oklahoma. The undisclosed acquisition price will see Colonial Savings' locations rebranded under the Gateway First Bank name following the expected close in the first quarter of next year. Both organizations emphasize a shared commitment to relationship-based financial services and local decision-making.

Colonial Savings, founded in 1952 as Fort Worth Mortgage Corp., historically focused on residential home loans. It acquired Colonial Savings in 1972 and operated as a federally chartered thrift, maintaining a significant portion of its lending in housing-related assets. Despite the thrift crisis of the 1980s, the company survived by adhering to its mortgage focus. In 2023, it transitioned its business to full-service banking and mortgage servicing. Gateway First Bank, with $2.1 billion in assets, offers comprehensive banking and mortgage services, boasting a national mortgage business and over 60 locations. This acquisition reflects a broader trend of mergers and acquisitions within the North Texas financial sector, impacting the landscape for real estate developers and property investors.