Dogwood State Bank
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Steven W. Jones
- Sector
- Financial Services
- Industry
- Banks - Regional
- Address
- 5401 Six Forks Road Raleigh NC United States of America 27609
- IPO Date
- Jan 25, 2006
- Website
- dogwoodstatebank.com
- Similar Companies
- Business
- Dogwood State Bank operates as a community-focused financial institution primarily serving small and medium-sized businesses and individuals across North Carolina, South Carolina, and Eastern Tennessee. The bank's core products and services include a comprehensive range of deposit accounts such as personal and business checking accounts, savings accounts, money market accounts, individual retirement accounts, and certificates of deposit. It offers a variety of lending products including commercial and industrial loans, commercial real estate loans, residential mortgages, construction loans, SBA 7(a), 504, and Express loans tailored to varied business needs. Additionally, Dogwood provides treasury management services, merchant services through a partnership with Atlantic Merchant Services for electronic payment processing, and online and mobile banking solutions facilitating convenient banking access. Founded in 2005 and headquartered in Raleigh, North Carolina, Dogwood State Bank strengthens its market presence through strategic mergers and acquisitions. Its most significant recent development is the acquisition of Community First Bancorporation in August 2024, a transaction valued at approximately $54.3 million in an all-stock deal. This acquisition added $682.5 million in assets, expanded the bank's footprint particularly in the Upstate South Carolina region, and enhanced its liquidity and funding base. The merger is expected to deliver long-term growth potential by solidifying Dogwood’s position in high-growth markets and supporting increased scalability. Further to its expansion, in August 2025, Dogwood State Bank agreed to be acquired by Virginia-based TowneBank in a transaction valued at approximately $476.2 million. This deal aligns with TowneBank’s strategic objective to expand its presence in the Carolinas, combining Dogwood's $2.2 billion in assets, $1.7 billion in loans, and $1.8 billion in deposits with TowneBank’s operations, thus broadening market reach and enhancing loan portfolio diversification. Dogwood State Bank maintains robust asset quality with nonperforming loans under 0.5% and a strong allowance for credit losses. It is recognized as a leading SBA lender both regionally and nationally, reflecting its specialized focus on small business financing. The bank's comprehensive product suite and recent strategic moves underline its commitment to progressive, customer-centric banking solutions across its target markets.
Dogwood State Bank Shareholders Approve Merger into TowneBank
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