---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-009432"
form_type: "8-K"
ticker: "FXNC"
cik: "0000719402"
company_name: "FIRST NATIONAL CORP /VA/"
filed_at: "2024-03-26T23:59:59+00:00"
generated_at: "2026-06-04T08:12:01.408677+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# First National to acquire Touchstone Bankshares for ~$47M in stock; 36% EPS accretion

## Summary
- All-stock merger: Touchstone shareholders get 0.8122 FXNC shares per TSBA share, valued at ~$14.25/share.
- Combined pro forma assets ~$2.1B, deposits ~$1.8B, loans ~$1.5B; 30 branches in VA, 2 in NC.
- Expected ~36% EPS accretion in year 1; TBV dilution earn-back ~3.0 years.
- Anticipated cost synergies of ~$7.2M (35% of Touchstone noninterest expense).
- Transaction approved by both boards; expected close Q4 2024 subject to shareholder and regulatory approvals.

## SEC filing metadata
- accession: 0001437749-24-009432
- form_type: 8-K
- ticker: FXNC
- cik: 0000719402
- company_name: FIRST NATIONAL CORP /VA/
- filed_at: 2024-03-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/719402/000143774924009432/0001437749-24-009432-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/719402/000143774924009432/fxnc20240322_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-009432
- JSON: https://secwatch.observer/filing/0001437749-24-009432.json
- Plain text: https://secwatch.observer/filing/0001437749-24-009432.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.