January 13, 2026

TowneBank Merger with Dogwood State Bank Enhances SC Banking

Charleston, SC, January 13, 2026

The merger between TowneBank and Dogwood State Bank marks a pivotal moment for the financial scene in South Carolina, promising greater opportunities for local entrepreneurs. This strategic alliance aims to bolster TowneBank’s reach and resources in the Carolinas, fostering a stronger economy and supporting the Charleston business community. Following the integration, TowneBank now boasts around $12 billion in assets and a network of 53 banking offices, enhancing service delivery and capital access for businesses and individuals alike. The leadership transition emphasizes local expertise, crucial for understanding regional economic dynamics.

Charleston, SC

TowneBank Bolsters South Carolina Presence with Dogwood State Bank Merger

The recent merger between TowneBank and Dogwood State Bank marks a significant development for the financial landscape of South Carolina entrepreneurs and signals continued growth opportunities for the Charleston SC business community.

The successful integration of TowneBank and Dogwood State Bank, completed on January 1, 2024, represents a strategic move designed to expand TowneBank’s footprint within the Carolinas. This consolidation creates a larger, more robust financial institution, aiming to offer enhanced services and resources to businesses and individuals across the state. For the Charleston County economy, such expansions can introduce new capital and competitive banking options, fostering an environment ripe for entrepreneurial innovation and small-business resilience.

The completion of this merger underscores a positive trend in regional banking, where strategic partnerships can lead to greater stability and expanded capabilities. This development is particularly noteworthy for South Carolina entrepreneurs, who benefit from a strong and diversified financial sector that can provide the necessary capital for growth and job creation. By focusing on private investment and community involvement, these financial institutions play a critical role in supporting the economic fabric of the Lowcountry and beyond.

Expanded Reach and Enhanced Services for South Carolina

TowneBank’s acquisition of Dogwood State Bank, an all-cash transaction valued at approximately $100.9 million, was announced in August 2023. This strategic move expanded TowneBank’s branch network into several new markets across North and South Carolina. The merger officially concluded at the start of 2024, integrating Dogwood State Bank’s operations fully into TowneBank. This expansion is expected to bring a broader array of financial products and services to more communities, supporting the sustained development of the Charleston SC business environment and other burgeoning regional economies. The combined entity is poised to leverage greater resources to serve a diverse client base, from individuals to thriving Charleston small business operations.

A Stronger Presence in the Carolinas

With the integration of Dogwood State Bank, TowneBank has significantly strengthened its market presence. The combined organization now operates with approximately $12 billion in assets and a network of 53 banking offices across Virginia and the Carolinas. This substantial growth positions TowneBank as a prominent regional player, capable of offering comprehensive banking solutions, including retail, commercial, mortgage, and wealth management services. The increase in assets and operational scale reflects a commitment to serving the dynamic needs of communities and supporting Lowcountry economic growth through robust financial backing.

Leadership and Community Focus

Following the merger, a key aspect of the transition involved leadership integration to ensure continuity and capitalize on local expertise. Dan Edwards, who served as the President and Chief Banking Officer of Dogwood State Bank, assumed the role of President for TowneBank’s new North Carolina and South Carolina markets. This leadership structure emphasizes a continued focus on regional markets, a factor that often resonates with South Carolina entrepreneurs and local businesses. Such local leadership is crucial in understanding the specific economic nuances of different areas, including the unique drivers of the Charleston County economy, and tailoring services to meet those needs effectively.

Fostering Economic Growth Through Strategic Alliances

The consolidation of financial institutions like TowneBank and Dogwood State Bank often reflects a broader trend of private investment and strategic alliances aimed at fostering economic resilience. For the Charleston SC business community, the presence of strong, expanding banks provides essential access to capital, which is the lifeblood of entrepreneurial innovation. By facilitating loans and financial guidance, these institutions enable startups to launch, small businesses to expand, and existing companies to invest in new technologies and create jobs. This aligns with a philosophy that recognizes the power of private sector initiatives and efficient markets in driving sustainable prosperity without excessive regulatory burdens.

Impact on Charleston and the Lowcountry

While Dogwood State Bank primarily operated in North Carolina, this merger enhances TowneBank’s overall capacity and reach within the Carolinas, indirectly benefiting the entire region, including the Charleston County economy. Stronger regional banks can allocate more resources to growth markets, offering more competitive rates and bespoke financial solutions that are particularly attractive to Charleston small business owners. The increased capital base and expanded service offerings resulting from this merger contribute to a more dynamic financial ecosystem, which is vital for sustained Lowcountry economic growth. It allows for greater flexibility in funding local projects and supporting the ambitions of South Carolina entrepreneurs.

Conclusion

The successful merger of TowneBank and Dogwood State Bank represents a significant strengthening of financial services within the Carolinas, promising an expanded range of services and increased capital for businesses and individuals. This development highlights the ongoing vitality of the regional banking sector and its crucial role in supporting South Carolina entrepreneurs and fostering Lowcountry economic growth. As the Charleston County economy continues to evolve, strong financial partners like the expanded TowneBank will be instrumental in enabling entrepreneurial innovation and ensuring the resilience of local businesses. We encourage our readers to explore how these enhanced financial resources can benefit their endeavors and continue to support the vibrant tapestry of Charleston SC business.

Frequently Asked Questions

What was the value of the TowneBank and Dogwood State Bank merger?

The all-cash transaction for the acquisition of Dogwood State Bank by TowneBank was valued at approximately $100.9 million.

When did the TowneBank and Dogwood State Bank merger officially complete?

The merger between TowneBank and Dogwood State Bank was officially completed on January 1, 2024.

What is the approximate asset size of the combined TowneBank entity after the merger?

After the merger, the combined TowneBank organization operates with approximately $12 billion in assets.

How many banking offices does the expanded TowneBank network have?

The expanded TowneBank network now consists of 53 banking offices across Virginia and the Carolinas.

Who is leading TowneBank’s North Carolina and South Carolina markets after the merger?

Dan Edwards, formerly President and Chief Banking Officer of Dogwood State Bank, assumed the role of President for TowneBank’s new North Carolina and South Carolina markets.

Key Features of the TowneBank and Dogwood State Bank Merger

Feature	Detail
Transaction Type	All-cash acquisition
Acquisition Value	Approximately $100.9 million
Completion Date	January 1, 2024
Combined Assets (Post-Merger)	Approximately $12 billion
Total Banking Offices (Post-Merger)	53 across Virginia and the Carolinas
Leadership in NC/SC Markets	Dan Edwards, President for TowneBank’s new North Carolina and South Carolina markets