First National Corporation And Touchstone Bankshares Announce Receipt Of Regulatory Approvals For Merger, To Close In Q4 2024 Combined Company Would Have ~$2.1B In Assets, $1.8B In Deposits, And $1.5B In Loans

Author: Benzinga Newsdesk | August 08, 2024 12:36pm

First National Corporation ("First National") (NASDAQ:FXNC), the bank holding company of First Bank, and Touchstone Bankshares, Inc. ("Touchstone") (OTCPK: TSBA), the bank holding company of Touchstone Bank, announced today the receipt of regulatory approvals from the Federal Reserve Bank of Richmond, acting under authority delegated by the Board of Governors of the Federal Reserve System, and the Bureau of Financial Institutions of the Commonwealth of Virginia, to complete the previously announced merger of Touchstone with and into First National in an all-stock transaction (the "Merger").   Immediately following the Merger, Touchstone Bank would then immediately merge with and into First Bank.

Posted In: FXNC