Dogwood State Bank to Acquire Community First Bancorporation

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.