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Dogwood State Bank and Community First Bancorporation announce receipt of regulatory approvals for merger

By Staff Report, posted Jun 27, 2024 on BizFayetteville.com

Logo courtesy of Dogwood State Bank

Dogwood State Bank and Community First Bancorporation, the parent holding company of Community First Bank, Inc., recently announced the receipt of all required regulatory approvals to complete the previously announced merger of Community First and Community First Bank with and into Dogwood. 

The parties expect the merger to close on Aug. 1, 2024. Based on financial information as of March 31, 2024, the combined company would have approximately $2.13 billion in assets, $1.66 billion in loans and $1.80 billion in deposits.

“We are thrilled to announce that we have received all required regulatory approvals for our merger with Community First Bank," commented CEO of Dogwood Steve Jones in a press release. "These approvals mark a pivotal moment in the Dogwood State Bank journey while also representing a significant milestone in the lives of both organizations. We are confident that this merger allows us the ability to create enhanced value for our combined customers, employees, and shareholders. We are excited about the opportunities ahead and look forward to a successful future together.”

Dogwood State Bank opened its newest location in Fayetteville, NC at the end of 2022. The full-service branch, located at 225 Green Street, in Fayetteville, NC continues the bank’s vision of revitalizing community banking through the development of long-lasting relationships.

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