National Bankshares, Inc. Completes Acquisition of Frontier Community Bank
National Bankshares, Inc. Completes Acquisition of Frontier Community Bank
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.
弗吉尼亞州布萊克斯堡,2024年6月3日(GLOBE NEWSWIRE)——布萊克斯堡國民銀行(“國家銀行”)的控股公司國家銀行股份公司(納斯達克股票代碼:NKSH-“國家銀行股票” 或 “公司”)完成了對邊境社區銀行(“前沿”)的收購,自2024年6月1日起生效。繼價值約1,607萬美元的交易之後,National Bankshares現在擁有27個提供全方位服務的辦事處和兩個貸款生產辦事處,總資產約爲18億美元。
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.
根據先前宣佈的合併條款,每股Frontier普通股轉換爲14.48美元的現金或0.4250股National Bankshares普通股,Frontier的股東有權選擇收到的合併對價,但須遵守合併協議中規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 於 2024 年 6 月 1 日併入國家銀行。位於韋恩斯伯勒、斯湯頓和弗吉尼亞州林奇堡的三家前邊境分行於2024年6月3日星期一以國家銀行的名義開業。
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總裁兼首席執行官F. Brad Denardo在評論已完成的合併時表示:“我們很高興歡迎Frontier的客戶、員工和股東加入國家銀行股份大家庭。Frontier的客戶開始期望關心社區的銀行家提供卓越的個性化服務和當地決策。這正是我們作爲合併後組織將繼續實現的目標,其好處是擴大了服務範圍,擴大了分支機構的覆蓋範圍,並有機會提高股東回報。”
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總裁兼首席執行官艾倫·斯威特將在國家銀行股份公司和國家銀行的董事會任職。他補充說:“National Bankshares和Frontier在文化和價值觀方面非常一致,因此這次合併很自然。National Bankshares完全有能力延續Frontier的個性化客戶服務的傳統,此次合併只會進一步使我們的客戶、銀行家和股東受益。”