Acquiring Company
Dogwood State Bank
Acquired Company
Community First Bancorporation
RaleighSenecaFinancial ServicesFinanceLendingBankingFinancial ServicesDescription
Dogwood State Bank (OTC: DSBX) has reached a definitive merger agreement to acquire Community First Bancorporation (OTC: CFOK) and its subsidiary, Community First Bank, in an all-stock merger. This strategic combination enhances Dogwood's liquidity and funding while solidifying its position in high growth markets, particularly in the Upstate of South Carolina. The pro forma company will have total assets of $2.2 billion, total deposits of $1.8 billion, and net loans of $1.7 billion, and the transaction is expected to be over 65% accretive to Dogwood's earnings on a per-share basis in 2025.
Quick answer
Dogwood State Bank is acquiring Community First Bancorporation, announced February 1, 2024. Dogwood State Bank is based in Raleigh, North Carolina, United States.
- How much did Dogwood State Bank pay for Community First Bancorporation?
- The deal value was not disclosed.
- What does Dogwood State Bank do?
- Dogwood State Bank is a North Carolina state-chartered community bank headquartered in Raleigh with approximately $1.4 billion in total assets.
- Where are Dogwood State Bank and Community First Bancorporation based?
- Dogwood State Bank is based in Raleigh, North Carolina, United States. Community First Bancorporation is based in Seneca, South Carolina, United States.
Source: Fundz verified event record.
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Who to call at Dogwood State Bank, and when
When Dogwood State Bank changes hands, the new owners review vendors, systems and leadership. That is when the door opens.
- An alert the day Dogwood State Bank raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Dogwood State Bank, from your own LinkedIn network
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Frequently asked
Who acquired Community First Bancorporation?
Community First Bancorporation was acquired by Dogwood State Bank, based in Raleigh. The deal was reported on February 1, 2024. Dogwood State Bank is a North Carolina state-chartered community bank headquartered in Raleigh with approximately $1.4 billion in total assets. Dogwood State Bank is privately held and operates in Financial Services.
When did Dogwood State Bank acquire Community First Bancorporation?
Dogwood State Bank's acquisition of Community First Bancorporation was reported on February 1, 2024. Dogwood State Bank (OTC: DSBX) has reached a definitive merger agreement to acquire Community First Bancorporation (OTC: CFOK) and its subsidiary, Community First Bank, in an all-stock merger. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Community First Bancorporation do?
Community First Bancorporation, along with its subsidiary Community First Bank, is focused on safe and sound relationship banking in the Tennessee, North Carolina, and South Carolina markets, which encompass some of the nation's fastest-growing markets. It is privately held, operating in Financial Services, and is based in Seneca.
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