M&A
confidence high
sentiment positive
materiality 0.75
First National shareholders approve merger with Touchstone; votes 5.19M for, 0.48M against
FIRST NATIONAL CORP /VA/
- Shareholders of First National (FXNC) and Touchstone (TSBA) approved all-stock merger at special meetings on Aug 29, 2024.
- First National vote: 5,188,365 for, 484,351 against; also approved increasing authorized shares to 16M.
- Transaction expected to close in Q4 2024; Touchstone Bank will merge into First Bank after closing.
- Approximately 91% of outstanding shares voted at First National's special meeting (5,686,231 shares).