Brief: First Community Bankshares Announces Signing Of Definitive Merger Agreement With Highlands Bankshares

First Community Bankshares

11/09/2019 22:24

Sept 11 (Reuters) - First Community Bankshares Inc  FCBC.O :
    * FIRST COMMUNITY BANKSHARES, INC. ANNOUNCES SIGNING OF
DEFINITIVE
MERGER AGREEMENT WITH HIGHLANDS BANKSHARES, INC.
    * FIRST COMMUNITY - EACH SHARE OF HIGHLANDS COMMON STOCK
OUTSTANDING WILL BE CONVERTED INTO RIGHT TO RECEIVE 0.2703
SHARES OF FIRST COMMUNITY COMMON STOCK
    * FIRST COMMUNITY BANKSHARES INC - AGGREGATE TRANSACTION
VALUE OF
APPROXIMATELY $91.0 MILLION
    * FIRST COMMUNITY BANKSHARES INC - TRANSACTION RECEIVED
UNANIMOUS
APPROVAL BY BOTH FIRST COMMUNITY'S AND HIGHLANDS' BOARD OF
DIRECTORS
    * FIRST COMMUNITY - SEES DEAL TO BE NEUTRAL TO TANGIBLE BOOK
VALUE/SHARE (NON-GAAP), PROVIDE UPPER SINGLE DIGIT ACCRETION TO
EARNINGS IN 1ST YEAR OF COMBINATION
    * FIRST COMMUNITY BANKSHARES INC - UPON COMPLETION OF
TRANSACTION,
CO IS EXPECTED TO HAVE TOTAL CONSOLIDATED ASSETS IN EXCESS OF
$2.8 BILLION

Source text for Eikon:  ID:nGNX79rktM 
Further company coverage:  FCBC.O 

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