SUFFOLK, Va., Jan. 12, 2026 (GLOBE NEWSWIRE) -- Hampton Roads-based TowneBank (NASDAQ: TOWN) announced today the completion of its merger with Raleigh-based Dogwood State Bank (“Dogwood”). The merger substantially enhances TowneBank's strategic journey down the fast-growing Interstate 85 corridor from Richmond, Virginia, and into Greenville and the upstate region of South Carolina. The merger also strengthens TowneBank's position in key North Carolina markets, including Raleigh, Charlotte, Greensboro-Winston Salem, and Greenville. In addition, the merger expands the bank's footprint along the Eastern North Carolina coast from the Outer Banks to include Morehead City, Wilmington, and Fayetteville, together with a new location in historic Charleston, South Carolina. A location in Elizabethton, Tennessee, a city near the Tri-Cities area of Johnson City, Kingsport, and Bristol, rounds out the expansion. The merger was announced on August 19, 2025, and received overwhelming support at the special meeting of Dogwood shareholders held in December 2025.
