secwatch.observer — SEC 8-K summary
======================================

Issuer:     FIRST NATIONAL CORP /VA/ (FXNC)
CIK:        0000719402
Form:       8-K
Filed at:   2021-07-01T23:59:59+00:00
Accession:  0001437749-21-016156
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 2.01, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First National completes acquisition of The Bank of Fincastle for stock and cash
--------------------------------------------------------------------------------

- Each Fincastle share converts to 0.1649 FXNC shares or $3.30 cash (80% stock, 20% cash).
- Combined pro-forma assets ~$1.2B, loans $868M, deposits $1.1B at Dec 31, 2020.
- Three former Fincastle directors (Holt, Sprinkle, Patel) appointed to First National board.
- Fincastle branches to operate as division of First Bank until systems integration in October 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719402/000143774921016156/0001437749-21-016156-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719402/000143774921016156/fxnc20210630_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-21-016156

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer