According to a new report published by Business North Carolina, an SC-based bank has been acquired for nearly $70 million. According to the report, NC-based Dogwood State Bank has agreed to acquire Seneca-based bank, Community First Bancorporation for $70 million.
According to the report, the bank has $685 million in assets and seven offices located in Upstate SC, three in NC, and two in Tennessee. Dogwood has offices in Raleigh, Charlotte, and the Triad markets as well as Fayetteville, Greenville, Morehead City, Sanford, and Wilmington.
Steve Jones, the CEO of Dogwood, released a statement saying “With this transaction, we will have a meaningful presence in the largest major growth markets in the Carolinas.”.