diff --git a/pkg/gui/style/basic.go b/pkg/gui/style/basic.go
index 5cb1ec8aa..45652097e 100644
--- a/pkg/gui/style/basic.go
+++ b/pkg/gui/style/basic.go
@@ -4,10 +4,33 @@ import (
 	"github.com/gookit/color"
 )
 
+// A TextStyle contains a foreground color, background color, and
+// decorations (bold/underline/reverse).
+//
+// Colors may each be either 16-bit or 256-bit RGB colors. When
+// we need to produce a string with a TextStyle, if either foreground or
+// background color is RGB, we'll promote the other color component to RGB as well.
+// We could simplify this code by forcing everything to be RGB, but we're not
+// sure how compatible or efficient that would be with various terminals.
+// Lazygit will typically stick to 16-bit colors, but users may configure RGB colors.
+//
+// TextStyles are value objects, not entities, so for example if you want to
+// add the bold decoration to a TextStyle, we'll create a new TextStyle with
+// that decoration applied.
+//
+// Decorations are additive, so when we merge two TextStyles, if either is bold
+// then the resulting style will also be bold.
+//
+// So that we aren't rederiving the underlying style each time we want to print
+// a string, we derive it when a new TextStyle is created and store it in the
+// `style` field.
+
 type TextStyle struct {
 	fg         *Color
 	bg         *Color
 	decoration Decoration
+
+	style Sprinter
 }
 
 type Sprinter interface {
@@ -15,74 +38,66 @@ type Sprinter interface {
 	Sprintf(format string, a ...interface{}) string
 }
 
+func New() TextStyle {
+	s := TextStyle{}
+	s.style = s.deriveStyle()
+	return s
+}
+
+func FromBasicFg(fg color.Color) TextStyle {
+	s := New()
+	c := NewBasicColor(fg)
+	s.fg = &c
+	s.style = s.deriveStyle()
+	return s
+}
+
+func FromBasicBg(bg color.Color) TextStyle {
+	s := New()
+	c := NewBasicColor(bg)
+	s.bg = &c
+	s.style = s.deriveStyle()
+	return s
+}
+
 func (b TextStyle) Sprint(a ...interface{}) string {
-	return b.deriveStyle().Sprint(a...)
+	return b.style.Sprint(a...)
 }
 
 func (b TextStyle) Sprintf(format string, a ...interface{}) string {
-	return b.deriveStyle().Sprintf(format, a...)
+	return b.style.Sprintf(format, a...)
 }
 
 func (b TextStyle) SetBold() TextStyle {
 	b.decoration.SetBold()
+	b.style = b.deriveStyle()
 	return b
 }
 
 func (b TextStyle) SetUnderline() TextStyle {
 	b.decoration.SetUnderline()
+	b.style = b.deriveStyle()
 	return b
 }
 
 func (b TextStyle) SetReverse() TextStyle {
 	b.decoration.SetReverse()
+	b.style = b.deriveStyle()
 	return b
 }
 
-func (b TextStyle) deriveStyle() Sprinter {
-	// TODO: consider caching
-	return deriveStyle(b.fg, b.bg, b.decoration)
+func (b TextStyle) SetBg(color Color) TextStyle {
+	b.bg = &color
+	b.style = b.deriveStyle()
+	return b
 }
 
-func deriveStyle(fg *Color, bg *Color, decoration Decoration) Sprinter {
-	if fg == nil && bg == nil {
-		return color.Style(decoration.ToOpts())
-	}
-
-	isRgb := (fg != nil && fg.IsRGB()) || (bg != nil && bg.IsRGB())
-	if isRgb {
-		s := &color.RGBStyle{}
-		if fg != nil {
-			s.SetFg(*fg.ToRGB().rgb)
-		}
-		if bg != nil {
-			s.SetBg(*bg.ToRGB().rgb)
-		}
-		s.SetOpts(decoration.ToOpts())
-		return s
-	}
-
-	style := make([]color.Color, 0, 5)
-
-	if fg != nil {
-		style = append(style, *fg.basic)
-	}
-
-	if bg != nil {
-		style = append(style, *bg.basic)
-	}
-
-	style = append(style, decoration.ToOpts()...)
-
-	return color.Style(style)
+func (b TextStyle) SetFg(color Color) TextStyle {
+	b.fg = &color
+	b.style = b.deriveStyle()
+	return b
 }
 
-// // Need to convert bg to fg otherwise .RGB wont work
-// // for more info see https://github.com/gookit/color/issues/39
-// rgbBg := (*b.bg - 10).RGB()
-// rgbBg[3] = 1
-// *res.bg = rgbBg
-// res.style = *color.NewRGBStyle(*res.fg, rgbBg)
-
 func (b TextStyle) MergeStyle(other TextStyle) TextStyle {
 	b.decoration = b.decoration.Merge(other.decoration)
 
@@ -94,5 +109,52 @@ func (b TextStyle) MergeStyle(other TextStyle) TextStyle {
 		b.bg = other.bg
 	}
 
+	b.style = b.deriveStyle()
+
 	return b
 }
+
+func (b TextStyle) deriveStyle() Sprinter {
+	if b.fg == nil && b.bg == nil {
+		return color.Style(b.decoration.ToOpts())
+	}
+
+	isRgb := (b.fg != nil && b.fg.IsRGB()) || (b.bg != nil && b.bg.IsRGB())
+	if isRgb {
+		return b.deriveRGBStyle()
+	}
+
+	return b.deriveBasicStyle()
+}
+
+func (b TextStyle) deriveBasicStyle() color.Style {
+	style := make([]color.Color, 0, 5)
+
+	if b.fg != nil {
+		style = append(style, *b.fg.basic)
+	}
+
+	if b.bg != nil {
+		style = append(style, *b.bg.basic)
+	}
+
+	style = append(style, b.decoration.ToOpts()...)
+
+	return color.Style(style)
+}
+
+func (b TextStyle) deriveRGBStyle() *color.RGBStyle {
+	style := &color.RGBStyle{}
+
+	if b.fg != nil {
+		style.SetFg(*b.fg.ToRGB().rgb)
+	}
+
+	if b.bg != nil {
+		style.SetBg(*b.bg.ToRGB().rgb)
+	}
+
+	style.SetOpts(b.decoration.ToOpts())
+
+	return style
+}
diff --git a/pkg/gui/style/color.go b/pkg/gui/style/color.go
index ddd8549aa..b2df21bbf 100644
--- a/pkg/gui/style/color.go
+++ b/pkg/gui/style/color.go
@@ -19,17 +19,14 @@ func NewBasicColor(cl color.Color) Color {
 	return c
 }
 
-func (c *Color) IsRGB() bool {
+func (c Color) IsRGB() bool {
 	return c.rgb != nil
 }
 
-func (c *Color) ToRGB() Color {
+func (c Color) ToRGB() Color {
 	if c.IsRGB() {
-		return *c
+		return c
 	}
 
-	rgb := c.basic.RGB()
-	c.rgb = &rgb
-
-	return NewRGBColor(rgb)
+	return NewRGBColor(c.basic.RGB())
 }
diff --git a/pkg/gui/style/decoration.go b/pkg/gui/style/decoration.go
index 165a54084..51887fbdd 100644
--- a/pkg/gui/style/decoration.go
+++ b/pkg/gui/style/decoration.go
@@ -42,9 +42,11 @@ func (d Decoration) Merge(other Decoration) Decoration {
 	if other.bold {
 		d.bold = true
 	}
+
 	if other.underline {
 		d.underline = true
 	}
+
 	if other.reverse {
 		d.reverse = true
 	}
diff --git a/pkg/gui/style/style.go b/pkg/gui/style/style.go
index 5911546c7..d6c8149b2 100644
--- a/pkg/gui/style/style.go
+++ b/pkg/gui/style/style.go
@@ -2,11 +2,9 @@ package style
 
 import (
 	"github.com/gookit/color"
-	"github.com/jesseduffield/lazygit/pkg/utils"
 )
 
 var (
-	// FgWhite        = New(pointerTo(color.FgWhite), nil)
 	FgWhite        = FromBasicFg(color.FgWhite)
 	FgLightWhite   = FromBasicFg(color.FgLightWhite)
 	FgBlack        = FromBasicFg(color.FgBlack)
@@ -30,67 +28,3 @@ var (
 	AttrUnderline = New().SetUnderline()
 	AttrBold      = New().SetBold()
 )
-
-func New() TextStyle {
-	return TextStyle{}
-}
-
-func FromBasicFg(fg color.Color) TextStyle {
-	s := New()
-	c := NewBasicColor(fg)
-	s.fg = &c
-	return s
-}
-
-func FromBasicBg(bg color.Color) TextStyle {
-	s := New()
-	c := NewBasicColor(bg)
-	s.bg = &c
-	return s
-}
-
-var colorMap = map[string]struct {
-	forground  TextStyle
-	background TextStyle
-}{
-	"default": {FgWhite, BgBlack},
-	"black":   {FgBlack, BgBlack},
-	"red":     {FgRed, BgRed},
-	"green":   {FgGreen, BgGreen},
-	"yellow":  {FgYellow, BgYellow},
-	"blue":    {FgBlue, BgBlue},
-	"magenta": {FgMagenta, BgMagenta},
-	"cyan":    {FgCyan, BgCyan},
-	"white":   {FgWhite, BgWhite},
-}
-
-func SetConfigStyles(keys []string, background bool) TextStyle {
-	s := New()
-
-	for _, key := range keys {
-		switch key {
-		case "bold":
-			s = s.SetBold()
-		case "reverse":
-			s = s.SetReverse()
-		case "underline":
-			s = s.SetUnderline()
-		default:
-			value, present := colorMap[key]
-			if present {
-				var c TextStyle
-				if background {
-					c = value.background
-				} else {
-					c = value.forground
-				}
-				s = s.MergeStyle(c)
-			} else if utils.IsValidHexValue(key) {
-				c := NewRGBColor(color.HEX(key, background))
-				s.bg = &c
-			}
-		}
-	}
-
-	return s
-}
diff --git a/pkg/theme/theme.go b/pkg/theme/theme.go
index ffccc606a..d05897540 100644
--- a/pkg/theme/theme.go
+++ b/pkg/theme/theme.go
@@ -42,13 +42,13 @@ var (
 
 // UpdateTheme updates all theme variables
 func UpdateTheme(themeConfig config.ThemeConfig) {
-	ActiveBorderColor = GetGocuiColor(themeConfig.ActiveBorderColor)
-	InactiveBorderColor = GetGocuiColor(themeConfig.InactiveBorderColor)
-	SelectedLineBgColor = style.SetConfigStyles(themeConfig.SelectedLineBgColor, true)
-	SelectedRangeBgColor = style.SetConfigStyles(themeConfig.SelectedRangeBgColor, true)
-	GocuiSelectedLineBgColor = GetGocuiColor(themeConfig.SelectedLineBgColor)
-	OptionsColor = GetGocuiColor(themeConfig.OptionsTextColor)
-	OptionsFgColor = style.SetConfigStyles(themeConfig.OptionsTextColor, false)
+	ActiveBorderColor = GetGocuiStyle(themeConfig.ActiveBorderColor)
+	InactiveBorderColor = GetGocuiStyle(themeConfig.InactiveBorderColor)
+	SelectedLineBgColor = GetTextStyle(themeConfig.SelectedLineBgColor, true)
+	SelectedRangeBgColor = GetTextStyle(themeConfig.SelectedRangeBgColor, true)
+	GocuiSelectedLineBgColor = GetGocuiStyle(themeConfig.SelectedLineBgColor)
+	OptionsColor = GetGocuiStyle(themeConfig.OptionsTextColor)
+	OptionsFgColor = GetTextStyle(themeConfig.OptionsTextColor, false)
 
 	isLightTheme := themeConfig.LightTheme
 	if isLightTheme {
@@ -90,11 +90,61 @@ func GetGocuiAttribute(key string) gocui.Attribute {
 	return gocui.ColorWhite
 }
 
-// GetGocuiColor bitwise OR's a list of attributes obtained via the given keys
-func GetGocuiColor(keys []string) gocui.Attribute {
+// GetGocuiStyle bitwise OR's a list of attributes obtained via the given keys
+func GetGocuiStyle(keys []string) gocui.Attribute {
 	var attribute gocui.Attribute
 	for _, key := range keys {
 		attribute |= GetGocuiAttribute(key)
 	}
 	return attribute
 }
+
+var colorMap = map[string]struct {
+	foreground style.TextStyle
+	background style.TextStyle
+}{
+	"default": {style.FgWhite, style.BgBlack},
+	"black":   {style.FgBlack, style.BgBlack},
+	"red":     {style.FgRed, style.BgRed},
+	"green":   {style.FgGreen, style.BgGreen},
+	"yellow":  {style.FgYellow, style.BgYellow},
+	"blue":    {style.FgBlue, style.BgBlue},
+	"magenta": {style.FgMagenta, style.BgMagenta},
+	"cyan":    {style.FgCyan, style.BgCyan},
+	"white":   {style.FgWhite, style.BgWhite},
+}
+
+func GetTextStyle(keys []string, background bool) style.TextStyle {
+	s := style.New()
+
+	for _, key := range keys {
+		switch key {
+		case "bold":
+			s = s.SetBold()
+		case "reverse":
+			s = s.SetReverse()
+		case "underline":
+			s = s.SetUnderline()
+		default:
+			value, present := colorMap[key]
+			if present {
+				var c style.TextStyle
+				if background {
+					c = value.background
+				} else {
+					c = value.foreground
+				}
+				s = s.MergeStyle(c)
+			} else if utils.IsValidHexValue(key) {
+				c := style.NewRGBColor(color.HEX(key, background))
+				if background {
+					s.SetBg(c)
+				} else {
+					s.SetFg(c)
+				}
+			}
+		}
+	}
+
+	return s
+}