Dogwood State Bank (OTC: DSBX) (“Dogwood”) and Community First Bancorporation (OTC: CFOK) (“Community First”), the parent holding company of Community First Bank, Inc. (“Community First Bank”), announced today 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 regulatory approvals follow the approvals from the shareholders of each of Dogwood and Community First.
The parties expect the merger to close on August 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 Steve Jones, CEO of Dogwood. “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.”
