Business
Dogwood State Bank Shareholders Approve Merger into TowneBank
RALEIGH, N.C., Dec. 10, 2025 /PRNewswire/ -- Shareholders of Dogwood State Bank (OTCQX: DSBX) ("Dogwood" or the "Bank") approved the previously announced
About this update from Towne Bank
[{"type":"text","content":"RALEIGH, N.C., Dec. 10, 2025 /PRNewswire/ -- Shareholders of Dogwood State Bank (OTCQX: DSBX) (\"Dogwood\" or the \"Bank\") approved the previously announced merger of Dogwood into TowneBank (NASDAQ: TOWN) at a special meeting of shareholders on December 3, 2025.\n \n \n \n \n \n \n \nThe parties expect the merger to close early in the first quarter of 2026 subject to satisfaction of customary closing conditions, including the receipt of all required regulatory approvals.Steve Jones, CEO of Dogwood, stated, \"We are pleased that our shareholders have approved the proposed merger into TowneBank. This approval marks a significant milestone, and we look forward to completing the merger and moving forward together.\"About Dogwood State BankDogwood State Bank is a state-chartered community bank headquartered in Raleigh, North Carolina, with approximately $2.4 billion in total assets. Dogwood provides a wide range of banking products and services through its online offerings and branch offices in North Carolina, South Carolina, and Eastern Tennessee. Dogwood also specializes in providing lending services to small businesses through its Dogwood State Bank Small Business Lending division. Dogwood is focused on becoming the bank for businesses, business owners, professionals, and their employees. and redefining what it means to Bank Local.Forward-Looking StatementsStatements made in this press release, other than those concerning historical financial information and facts, may be considered forward-looking statements, which speak only as of the date of this press release and are based on current expectations and involve a number of assumptions. Forward-looking statements can be identified by words such as \"anticipate,\" \"intend,\" \"plan,\" \"goal,\" \"seek,\" \"believe,\" \"project,\" \"estimate,\" \"expect,\" \"strategy,\" \"future,\" \"likely,\" \"may,\" \"should,\" \"will\" and similar references to future periods. Our ability to predict results, or the actual effect of our future plans or strategies, is inherently uncertain and subject to a number of risks. Factors that could have a material effect on the Bank's operations and future prospects include but are not limited to: the merger of the Bank with and into TowneBank (the \"merger\") may not be consummated in a timely manner or at all; the regulatory approvals required for the...