Brief: Dogwood State Bank To Buy Community First Bancorporation

Community First Bancorporation

01/02/2024 14:28

Feb 1 (Reuters) - Community First Bancorporation
 CFOK.PK :
    * DOGWOOD STATE BANK TO ACQUIRE COMMUNITY FIRST
BANCORPORATION
    * DOGWOOD STATE BANK: EACH COMMUNITY FIRST BANCORPORATION
COMMON
SHAREHOLDER TO RECEIVE 0.5875 SHARES OF CO'S VOTING COMMON STOCK
    * DOGWOOD STATE BANK: DEAL EXPECTED TO BE OVER 65% ACCRETIVE
TO
DOGWOOD'S EARNINGS ON A PER SHARE BASIS IN 2025
    * DOGWOOD STATE BANK: EACH COMMUNITY FIRST BANCORPORATION
PREFERRED SHAREHOLDER WILL RECEIVE 64.7719 SHARES OF CO'S VOTING
STOCK
    * DOGWOOD STATE BANK: TRANSACTION VALUE PER SHARE OF $11.75
FOR
EACH COMMUNITY FIRST BANCORPORATION COMMON SHARE
    * DOGWOOD STATE BANK: DEAL IS EXPECTED TO BE OVER 65%
ACCRETIVE TO
EARNINGS ON A PER SHARE BASIS IN 2025
    * DOGWOOD STATE BANK: BOARDS OF DIRECTORS OF BOTH BUSINESSES
HAVE
UNANIMOUSLY APPROVED MERGER AGREEMENT
    * DOGWOOD STATE BANK: FOLLOWING CLOSING, TWO DIRECTORS OF
COMMUNITY FIRST BANCORPORATION WILL JOIN DOGWOOD BOARD OF
DIRECTORS

Source text for Eikon:  ID:nPn4nN7N2a 
Further company coverage:  CFOK.PK 

 ((Reuters.Briefs@thomsonreuters.com;))