TowneBank in its $476 million acquisition of Dogwood State Bank

On August 19, 2025, TowneBank (NASDAQ: TOWN) and Dogwood State Bank (OTCQX: DSBX), announced the signing of a definitive merger agreement pursuant to which TowneBank will acquire Dogwood State Bank for approximately $476 million.  Shareholders of Dogwood will receive 0.7 shares of TowneBank common stock for each outstanding share of Dogwood common stock.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to TowneBank.