TowneBank announces David Lominack as South Carolina President. TowneBank and Dogwood State Bank, A Division of TowneBank, has added David Lominack as President of South Carolina. A respected industry leader across The Palmetto State, Lominack is based in Greenville, South Carolina, and takes the helm of the bank's newest markets, added through its partnership with Dogwood. Lominack brings decades of industry experience to the newly joined banks, most recently serving as South Carolina Market President for TD Bank. Lominack received his bachelor's degree in business administration from Presbyterian College and is a graduate of the Stonier Graduate School of Banking, Leadership Greenville, the Diversity Leadership Initiative at Furman University, and is a Liberty Fellow. "Adding David to the team is key to our success in South Carolina," said TowneBank Carolinas President Steve Jones. "His leadership and expertise will be critical as we grow our presence and continue to invest in markets across the state." Active in his community, Lominack serves on the Executive Committee and Board of Directors of United Way of Greenville County. He is past board chair for the South Carolina Bankers Association, the South Carolina Chamber of Commerce, the United Way of Greenville County, and the Greenville Chamber of Commerce, as well as past co-chair for Greenville County's Racial Equity and Economic Mobility Commission (REEM). "David is exceptionally well-regarded as both a financial services and community leader, and we are thrilled to welcome him to the Towne family," said William I. "Billy" Foster III, TowneBank President & CEO. "He will play a critical role in leading Dogwood markets that will become a permanent part of TowneBank later this year."

TowneBank is acquiring Raleigh-based Dogwood State Bank for $476 million. Dogwood's stock surged over 50% to $23.60. The acquisition adds 17 offices in NC and SC to TowneBank, which will have assets of $22 billion post-approval. Dogwood, with $2.4 billion in assets, was formed in 2019. It raised $70 million in 2019, $28 million in 2021, and $16 million in 2023. Dogwood CEO Steve Jones will lead TowneBank's NC and SC operations. The deal is expected to boost Towne's EPS by 8% in 2027.