Business
First National Corporation and The Bank of Fincastle Receive Shareholder Approvals for Merger
STRASBURG, Va. and FINCASTLE, Va., June 22, 2021 (GLOBE NEWSWIRE) -- At separate shareholder meetings held on June 16, 2021, First National (NASDAQ: FXNC)
About this update from First National Corporation
[{"type":"text","content":"STRASBURG, Va. and FINCASTLE, Va., June 22, 2021 (GLOBE NEWSWIRE) -- At separate shareholder meetings held on June 16, 2021, First National (NASDAQ: FXNC) (the “Company” or “First National”), the parent holding company of First Bank, and The Bank of Fincastle (OTC: BFTL) (“Fincastle”), received the required approval of each company’s shareholders to proceed with the previously announced merger of Fincastle with and into First Bank (the “Merger”). The parties expect the Merger to be effective in the third quarter of 2021. Based on financial information as of December 31, 2020, the combined company would have approximately $1.2 billion in assets, $1.1 billion in deposits, and $868 million in loans. ABOUT FIRST NATIONAL CORPORATION First National Corporation (NASDAQ: FXNC) is the parent company and bank holding company of First Bank, a community bank that first opened for business in 1907 in Strasburg, Virginia. First Bank offers loan and deposit products and services through its website, www.fbvirginia.com, its mobile banking platform, a network of ATMs located throughout its market area, one loan production office, a customer service center in a retirement community, and 14 bank branch office locations located throughout the Shenandoah Valley, the central regions of Virginia and in the city of Richmond. In addition to providing traditional banking services, First Bank operates a wealth management division under the name First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc., which invests in entities that provide investment services and title insurance. ABOUT THE BANK OF FINCASTLE The Bank of Fincastle has been a leading financial services provider in the Roanoke region since 1875, and offers a full range of banking, lending and investment products. Headquartered in Fincastle, Virginia, The Bank of Fincastle has 6 full‐service branches, 13 ATM locations, a 7 a.m. to 7 p.m. drive through location and offers online deposit account opening, online real estate and consumer loan applications, online banking, mobile banking and 24/7 telephone banking. The Bank of Fincastle is a Member FDIC, Equal Housing Lender and Equal Opportunity Employer. FORWARD-LOOKING STATEMENTS Certain information contained in this discussion may include “forward-looking statements” within the meaning of Section 27A of the Securi...