Satoshi Nakamoto Blog
Image default
Community banking growth strategies m&a virginia

Southwestern Virginia banks announce merger


First Community Bankshares in Bluefield, Va., has agreed to buy Highlands Bankshares in Abingdon, Va.

The $2.2 billion-asset First Community said in a press release Wednesday that it will pay $91 million in stock for the parent of the $612 million-asset Highlands Union Bank. The deal is expected to close in the fourth quarter.

“This natural partnership brings like-minded bankers and customers together to create an even stronger franchise to serve the people and communities of the tri-state Highlands region,” Will Stafford, First Community’s chairman and CEO, said in the release. “Both banks’ stakeholders are an integral part of this area and share its values of hard-work and community involvement.”

Banks Street Partners, Pitman Law Firm, Fox Rothchild and Bowles Rice advised First Community. Stephens Inc. and Nelson Mullins Riley & Scarborough advised Highlands.



Source link

Related posts

BayCom to enter Denver with TIG Bancorp acquisition

satoshi

It was a slow month for M&A until …

satoshi

11 Networking Tips When You’re Crunched for Time

satoshi

4 Ways to Grow Your Business Fast (Without Rushing)

satoshi

First Midwest making big Milwaukee push with Park Bank purchase

satoshi

Banks on guard for credit glitches in tech sector

satoshi