National Bankshares, Inc. Completes Acquisition of Frontier Community Bank
National Bankshares, Inc. Completes Acquisition of Frontier Community Bank
Commenting on the completed merger, F. Brad Denardo, President and Chief Executive Officer of National Bankshares, said, "We are excited to welcome Frontier's customers, employees, and shareholders to the National Bankshares family. Frontier's customers have come to expect outstanding personalized service and local decision-making from bankers who care about their communities. That is exactly what we will continue to deliver as a combined organization, with the benefits of expanded service offerings, a larger branch footprint, and the opportunity to enhance shareholder return."BLACKSBURG, Va., June 03, 2024 (GLOBE NEWSWIRE) -- National Bankshares, Inc. (Nasdaq: NKSH - "National Bankshares" or the "Company"), the holding company for The National Bank of Blacksburg ("National Bank"), completed its acquisition of Frontier Community Bank ("Frontier") effective June 1, 2024. Following the transaction, valued at approximately $16.07 million, National Bankshares now operates 27 full-service offices along with two loan production offices, and has approximately $1.8 billion in total assets.
弗吉尼亚州布莱克斯堡，2024年6月3日（GLOBE NEWSWIRE）——布莱克斯堡国民银行（“国家银行”）的控股公司国家银行股份公司（纳斯达克股票代码：NKSH-“国家银行股票” 或 “公司”）完成了对边境社区银行（“前沿”）的收购，自2024年6月1日起生效。继价值约1,607万美元的交易之后，National Bankshares现在拥有27个提供全方位服务的办事处和两个贷款生产办事处，总资产约为18亿美元。
Under the previously announced terms of the merger, each share of Frontier common stock was converted into $14.48 in cash or 0.4250 shares of National Bankshares common stock, with Frontier shareholders having the ability to elect the merger consideration to be received, subject to the allocation and proration procedures set forth in the merger agreement.
根据先前宣布的合并条款，每股Frontier普通股转换为14.48美元的现金或0.4250股National Bankshares普通股，Frontier的股东有权选择收到的合并对价，但须遵守合并协议中规定的分配和按比例分配程序。
Frontier was merged with and into National Bank on June 1, 2024. The three former Frontier branches located in Waynesboro, Staunton, and Lynchburg, Virginia opened under the National Bank name on Monday, June 3, 2024.
Frontier 于 2024 年 6 月 1 日并入国家银行。位于韦恩斯伯勒、斯汤顿和弗吉尼亚州林奇堡的三家前边境分行于2024年6月3日星期一以国家银行的名义开业。
Commenting on the completed merger, F. Brad Denardo, President and Chief Executive Officer of National Bankshares, said, "We are excited to welcome Frontier's customers, employees, and shareholders to the National Bankshares family. Frontier's customers have come to expect outstanding personalized service and local decision-making from bankers who care about their communities. That is exactly what we will continue to deliver as a combined organization, with the benefits of expanded service offerings, a larger branch footprint, and the opportunity to enhance shareholder return."
National Bankshares总裁兼首席执行官F. Brad Denardo在评论已完成的合并时表示：“我们很高兴欢迎Frontier的客户、员工和股东加入国家银行股份大家庭。Frontier的客户开始期望关心社区的银行家提供卓越的个性化服务和当地决策。这正是我们作为合并后组织将继续实现的目标，其好处是扩大了服务范围，扩大了分支机构的覆盖范围，并有机会提高股东回报。”
Alan Sweet, former President and Chief Executive Officer of Frontier, will serve on the boards of directors of National Bankshares and National Bank. He added, "National Bankshares and Frontier were very aligned in terms of culture and values, making this merger a natural fit. National Bankshares is well-positioned to continue Frontier's tradition of personalized customer service, and this merger will only serve to further benefit our customers, our bankers, and our shareholders."
前Frontier总裁兼首席执行官艾伦·斯威特将在国家银行股份公司和国家银行的董事会任职。他补充说：“National Bankshares和Frontier在文化和价值观方面非常一致，因此这次合并很自然。National Bankshares完全有能力延续Frontier的个性化客户服务的传统，此次合并只会进一步使我们的客户、银行家和股东受益。”