---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-012350"
form_type: "8-K"
ticker: "SLBK"
cik: "0001657642"
company_name: "Skyline Bankshares, Inc."
filed_at: "2024-04-17T23:59:59+00:00"
generated_at: "2026-06-03T21:42:55.773866+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Skyline Bankshares to acquire Johnson County Bank for $25M cash; deal accretive

## Summary
- All-cash transaction valued at $25M implies $312.50/share based on current shares outstanding.
- Expected to be immediately accretive to earnings with tangible book value earnback under 2.5 years.
- Combined company will have ~$1.2B assets, >$1.0B deposits, 28 banking locations.
- JCB CEO Chris Reece to join Skyline board; deal expected to close in H2 2024.
- Subject to JCB shareholder and regulatory approvals; termination fee of $1M applies.

## SEC filing metadata
- accession: 0001437749-24-012350
- form_type: 8-K
- ticker: SLBK
- cik: 0001657642
- company_name: Skyline Bankshares, Inc.
- filed_at: 2024-04-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1657642/000143774924012350/0001437749-24-012350-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1657642/000143774924012350/pkkw20240417_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-012350
- JSON: https://secwatch.observer/filing/0001437749-24-012350.json
- Plain text: https://secwatch.observer/filing/0001437749-24-012350.txt

## Key facts
- Material Agreements
  Skyline Bankshares, Inc. entered into Agreement and Plan of Merger with Johnson County Bank valued at $25.0 million (effective 2024-04-16).
  - Action: entry
  - Agreement: merger
  - Counterparty: Johnson County Bank
  - Value: $25.0 million
  - Effective: 2024-04-16
  source text: On April 16, 2024, Skyline Bankshares, Inc. (the “Company”), Skyline National Bank, a wholly-owned bank subsidiary of the Company (the “Bank”), Skyline Merger Sub, Inc., also a wholly-owned subsidiary of the Company (the “Merger Sub”) and Johnson County Bank (“JCB”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) pursuant to which the Company will acquire JCB.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1657642/000143774924012350/0001437749-24-012350-index.htm

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