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.

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