Merger of Community First Bancorporation and Dogwood State Bank

Community First Bancorporation, based in Seneca, and Dogwood State Bank, located in Raleigh, North Carolina, have entered into a definitive merger agreement.

According to a joint press release, the agreement stipulates that Dogwood will acquire Community First and its subsidiary through an all-stock merger.

Richard Burleson, the President and CEO of Community First, is quoted in the announcement as saying, “To continue growing, to provide cutting edge technology and to become more profitable, we need a partner who can provide us the opportunity to better serve our customers with a much larger balance sheet, enhanced technology and expanded products and services.”