FORT WORTH, Texas — In a strategic move that significantly deepens its presence in the fast-growing Lone Star State, Oklahoma-based Gateway First Bank has announced a definitive agreement to acquire Colonial Savings F.A. The transaction, financial terms of which were not publicly disclosed, bridges two institutions with deep regional roots and a shared heritage in mortgage-centric banking.
The deal is slated to close in the first quarter of 2027, pending customary regulatory approvals and the satisfaction of traditional closing conditions. When finalized, the merger will marry Gateway’s robust national mortgage platform and diversified commercial banking capabilities with Colonial’s enduring, 74-year-old local franchise and deeply entrenched customer relationships across the Greater Fort Worth market.
Main Facts of the Transaction
The headline agreement brings together two prominent regional financial institutions at a time of considerable evolution within the American banking and mortgage sectors. Gateway First Bank, headquartered in Jenks, Oklahoma, operates with more than $2 billion in total assets. The bank maintains multiple retail banking centers across Oklahoma alongside a national mortgage origination footprint boasting more than 60 locations and approximately 600 employees.
Under the terms of the purchase agreement, Gateway will acquire Colonial Savings F.A., a historic Texas institution that currently operates six brick-and-mortar banking locations concentrated in the Greater Fort Worth area. The acquisition is designed to seamlessly integrate Colonial’s loyal customer base into Gateway’s growing ecosystem, providing those customers with access to an expanded suite of commercial banking products, advanced digital banking tools, and enhanced mortgage capabilities.
While the financial metrics of the transaction remain confidential, the strategic intent is unmistakable. Gateway is deliberately expanding its footprint in Texas—a market experiencing robust economic and demographic growth—while doubling down on its unique hybrid model that marries a traditional community bank charter with a powerful, scalable mortgage origination engine.
Chronology and Historical Context
To understand the full scope of the Gateway-Colonial transaction, it is necessary to examine the divergent yet complementary trajectories of both institutions over the past several decades.
Colonial Savings F.A.: A Fort Worth Legacy
Founded in 1952, Colonial Savings F.A. spent the better part of three-quarters of a century building an impressive legacy centered on retail banking, consumer savings, and integrated mortgage lending. For decades, Colonial operated as a powerhouse in the Texas financial landscape, successfully guiding generations of families and local businesses through shifting economic cycles.
However, like many traditional mortgage lenders and thrifts, Colonial faced severe headwinds during the historic interest rate tightening cycle that began in 2022. As the Federal Reserve aggressively raised benchmark rates to combat inflation, mortgage origination volumes plummeted nationwide, constrained further by a severe lack of housing inventory.
Facing these macroeconomic pressures, Colonial’s mortgage production fell by roughly one-third. In May 2023, the institution made the strategic decision to exit the mortgage origination business altogether, pivoting its operational focus entirely toward full-service community banking and mortgage servicing.
At its peak during this transitional era, Colonial reported a massive mortgage servicing portfolio valued at approximately $20 billion, alongside roughly $1 billion in total assets. In subsequent developments, the institution further streamlined its operations by fully exiting the mortgage servicing business, paving the way for its current iteration as a localized, relationship-driven commercial and retail banking franchise.
Gateway First Bank: The Evolution of a Mortgage Giant
Gateway’s corporate history represents a different pathway to a similar hybrid destination. The institution evolved out of a prominent, independent mortgage origination platform that grew to become one of the larger non-bank residential lenders in the United States. Recognizing the cyclical vulnerabilities of relying solely on mortgage production revenues, the leadership team orchestrated a visionary pivot.
In 2019, the organization completed a transformative combination with a chartered community bank, officially rebranding as Gateway First Bank. This structural maneuver allowed the company to combine the entrepreneurial drive and national scale of a top-tier mortgage lender with the sticky, low-cost deposit base and diversified balance sheet of an FDIC-insured commercial bank.
The strategy has proven remarkably resilient. Even as broader market conditions fluctuated throughout the mid-2020s, Gateway steadily increased its production capacity. The bank originated approximately $2.2 billion in residential mortgages in 2024, expanded that figure to roughly $2.5 billion in 2025, and has already logged about $1.4 billion in originations year-to-date. According to recent data from RETR, the institution currently deploys a dedicated team of approximately 213 loan officers.
Supporting Data and Financial Metrics
A closer examination of the institutional balance sheets and operational metrics highlights the synergistic nature of the impending merger:
- Gateway First Bank Assets: Exceeds $2 billion.
- Colonial Savings Assets: Historically anchored around $1 billion prior to structural realignments.
- Colonial Branch Network: Six full-service banking locations strategically positioned across the Greater Fort Worth metropolitan area.
- Gateway Mortgage Footprint: National reach spanning over 60 locations, supported by an approximate workforce of 600 employees.
- Gateway Origination Momentum: $2.2 billion (2024); $2.5 billion (2025); ~$1.4 billion (year-to-date).
- Mortgage Personnel: Approximately 213 active loan officers operating under the Gateway banner.
These figures illustrate that while Gateway brings substantial balance sheet heft and operational scale to the table, Colonial contributes an irreplaceable, established physical footprint in one of the most economically dynamic urban centers in the United States.
Official Responses and Executive Perspectives
Leadership from both institutions have emphasized cultural alignment as a primary driver behind the transaction. Because both banks trace their roots to relationship-based lending philosophies, executives believe the integration will proceed smoothly for both employees and retail customers.
Kyle Hubbard, Chief Executive Officer of Gateway First Bank, praised the legacy and community standing of the acquisition target in an official statement:
"Colonial has built an impressive legacy centered on exceptional service, strong community relationships, and helping families and businesses achieve their financial goals. This partnership allows us to expand our relationship-driven banking model into one of the most vibrant regions in Texas, bringing our comprehensive suite of financial services to a broader audience while honoring the deep trust Colonial has cultivated over the past 74 years."
Echoing those sentiments, Jim DuBose, President and CEO of Colonial Savings F.A., pointed to shared corporate values as the catalyst that brought the two organizations together:
"Both organizations share a belief that financial services should be built around relationships, trust, and local decision-making. Joining forces with Gateway First Bank ensures that our customers will continue to receive the personalized care they have come to expect, while benefiting from an expanded array of banking products, enhanced technological capabilities, and the robust backing of a growing, well-capitalized institution."
To navigate the complex legal, financial, and regulatory requirements of the transaction, both banks enlisted elite advisory talent. Gateway First Bank retained Performance Trust Capital Partners LLC to serve as its exclusive financial advisor. Meanwhile, Colonial Savings F.A. tapped Olsen Palmer LLC to guide its board and executive leadership through the strategic evaluation and negotiation process.
Strategic Implications for the Texas Banking Landscape
The acquisition of Colonial Savings by Gateway First Bank carries several profound implications for the regional banking market in Texas, as well as for the broader trajectory of independent mortgage banking institutions nationwide.
1. The Power of the Hybrid Model
In the wake of the post-pandemic interest rate shocks, many non-bank mortgage originators struggled to survive without the cushion of stable retail deposits. Conversely, traditional community banks that lacked a robust fee-income engine often found themselves squeezed by compressed net interest margins. Gateway’s acquisition of Colonial serves as a textbook validation of the hybrid banking model. By embedding mortgage origination and servicing capabilities within a stable, deposit-funded bank charter, institutions can weather rate cycles far more effectively than mono-line competitors.
2. Consolidation in the Texas Financial Market
The Greater Fort Worth and broader Dallas-Fort Worth metroplex remains one of the most economically vibrant and population-dense corridors in the United States. As national and super-regional banks continue to vie for market share in Texas, homegrown and regionally focused institutions are increasingly turning to strategic mergers to achieve the scale necessary to compete. By absorbing Colonial’s six established branches, Gateway bypasses the slow, expensive process of de novo branch expansion, instantly planting its flag in key Texas submarkets with ready-made customer loyalty.
3. Regulatory Environment and Execution Timeline
With the transaction expected to close in the first quarter of 2027, the merging institutions have given themselves ample runway to secure the necessary approvals from federal and state banking regulators. In the current regulatory climate, which has seen heightened scrutiny surrounding bank mergers—particularly those involving overlapping footprints or complex product lines—early transparency and meticulous planning are critical. The 2027 target date suggests both boards are fully prepared to navigate a thorough and deliberate regulatory review process.
4. Client and Employee Transition
For the retail customers and small-business owners currently banking with Colonial, the transition promises access to a much wider array of financial products. While Colonial narrowed its operational scope in recent years by exiting mortgage originations and servicing, the integration with Gateway will restore full-spectrum lending capabilities directly to the local branches. For employees, the backing of a $2 billion institution provides long-term career stability and enhanced technological resources, positioning the combined entity for sustainable growth well into the future.
As the financial services industry continues to adapt to macroeconomic shifts, technological demands, and evolving consumer preferences, the union of Gateway First Bank and Colonial Savings F.A. stands out as a calculated, forward-looking maneuver. By pairing Gateway’s modern banking scale with Colonial’s historic Texas legacy, the two institutions are positioning themselves to capture sustained growth across the Lone Star State for years to come.
