Mergers & Acquisitions
By The Online Investor Staff, updated Fri., Jan. 23, 8:37 PM
Slide #92. TowneBank — Dogwood State Bank
| Acquirer: |
TowneBank (NASDAQ:TOWN) |
| Acquiree: |
Dogwood State Bank |
| Details: |
Hampton Roads-based TowneBank (NASDAQ: TOWN) announced today the completion of its merger with Raleigh-based Dogwood State Bank ("Dogwood"). The merger substantially enhances TowneBank's strategic journey down the fast-growing Interstate 85 corridor from Richmond, Virginia, and into Greenville and the upstate region of South Carolina. The merger also strengthens TowneBank's position in key North Carolina markets, including Raleigh, Charlotte, Greensboro-Winston Salem, and Greenville. In addition, the merger expands the bank's footprint along the Eastern North Carolina coast from the Outer Banks to include Morehead City, Wilmington, and Fayetteville, together with a new location in historic Charleston, South Carolina. A location in Elizabethton, Tennessee, a city near the Tri-Cities area of Johnson City, Kingsport, and Bristol, rounds out the expansion. The merger was announced on August 19, 2025, and received overwhelming support at the special meeting of Dogwood shareholders held in December 2025. |
TowneBank is engaged in offering retail and commercial banking services to various markets in Virginia and North Carolina. Co. operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. It also provides commercial mortgage brokerage services and a variety of investment and asset management services. The Realty segment offers residential real estate services, mortgage loans, resort property management, and residential and commercial title insurance. The Insurance segment provides a full line of commercial and consumer insurance products and financial services, as well as employee benefit services.
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January 23, 2026 8:37 PM Eastern

 Buy (2.80 out of 4)
62nd percentile
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