Brief: First National Corp. Says Would Acquire The Bank Of Fincastle

First National

18/02/2021 21:22

Feb 18 (Reuters) - First National Corp  FXNC.O :
    * ORATION TO ACQUIRE THE BANK OF FINCASTLE
    * FIRST NATIONAL EXPECTS TRANSACTION TO BE APPROXIMATELY 10%
ACCRETIVE TO EARNINGS PER SHARE
    * FIRST NATIONAL WILL ACQUIRE FINCASTLE FOR A COMBINATION OF
STOCK
AND CASH
    * DEALVALUED AT APPROXIMATELY $3.09 PER SHARE FOR EACH SHARE
OF
FINCASTLE'S COMMON STOCK OUTSTANDING
    * MERGER AGREEMENT HAS BEEN UNANIMOUSLY APPROVED BY BOARDS
OF
DIRECTORS OF EACH COMPANY
    * TRANSACTION IS EXPECTED TO CLOSE IN Q3 OF 2021
    * PER TERMS, FINCASTLE SHAREHOLDERS COULD ELECT TO RECEIVE
0.1649
SHARES OF FIRST NATIONAL STOCK, OR $3.30 IN CASH
    * FINCASTLE SHAREHOLDERS COULD ALSO ELECT TO RECEIVE OR A
COMBINATION OF STOCK AND CASH

Source text for Eikon:  ID:nGNX5JlDV6 
Further company coverage:  FXNC.O 

 ((Reuters.Briefs@thomsonreuters.com;))