First National Corporation to Acquire Touchstone Bankshares, Inc.
STRASBURG, Va. and PRINCE GEORGE, Va., March 26, 2024 (GLOBE NEWSWIRE) -- First National Corporation (“First National”) (NASDAQ: FXNC) and Touchstone Bankshares, Inc. (“Touchstone”) (OTCPK: TSBA) announced today they have entered into a definitive merger agreement for First National to acquire Touchstone in an all-stock transaction.
- STRASBURG, Va. and PRINCE GEORGE, Va., March 26, 2024 (GLOBE NEWSWIRE) -- First National Corporation (“First National”) (NASDAQ: FXNC) and Touchstone Bankshares, Inc. (“Touchstone”) (OTCPK: TSBA) announced today they have entered into a definitive merger agreement for First National to acquire Touchstone in an all-stock transaction.
- Under the terms of the agreement, Touchstone shareholders will receive 0.8122 shares of First National stock for each share of Touchstone stock.
- First National and First Bank will appoint three Touchstone directors to join the existing nine legacy directors on each respective Board.
- Hovde Group, LLC served as financial advisor and Nelson Mullins Riley & Scarborough, LLP provided legal counsel to First National.