TowneBank (TOWN) said Tuesday it has agreed to acquire Dogwood State Bank, as the company aims to further its presence from Richmond, Virginia, to Greenville and the upstate region of South Carolina.
As per the deal terms, Dogwood shareholders will get 0.7 TowneBank common share for each of their outstanding Dogwood share, implying a deal value of about $476.2 million.
TowneBank expects the deal to be 8% accretive to its 2027 estimated earnings per share with fully phased-in cost savings on a GAAP basis, the company said.
Dogwood Chief Executive Officer Steve Jones would join the combined company as president of its North Carolina and South Carolina banking operations, TowneBank added.
The deal has been approved by the boards of both companies, said TowneBank, adding that the transaction is likely to be completed by early 2026.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。