NATIONAL BANKSHARES INC (NKSH): M&A transaction — National Bankshares closes $16.07M acquisition of Frontier Community Bank

NATIONAL BANKSHARES INC

Deal valued at ~$16.07M; each FCB share exchanged for $14.48 cash or 0.4250 NKSH shares.
About 90% of FCB shares swapped for NKSH stock, 10% for cash per merger allocation.
National Bankshares now operates 27 offices with ~$1.8B in total assets.
Former FCB CEO Alan Sweet joins National Bankshares and bank boards.
Three former FCB branches in Virginia reopened as National Bank branches on June 3, 2024.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

NATIONAL BANKSHARES INC completed an acquisition involving Frontier Community Bank for approximately $16.07 million (closed 2024-06-01).

Action: acquisition
Counterparty: Frontier Community Bank
Consideration: approximately $16.07 million
Closing: 2024-06-01

Exact text from the filing

of Blacksburg (“National Bank”), completed its acquisition of Frontier Community Bank (“Frontier”) effective June 1, 2024. Following the transaction, valued at approximately $16.07 million, National Bankshares now operates 27 full-service offices along with two loan production offices, and has approximately $1.8 billion in total assets. Under the previously

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Source: SEC EDGAR

accession 0001437749-24-019043

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