secwatch.observer — SEC 8-K summary
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Issuer:     FIRST NATIONAL CORP /VA/ (FXNC)
CIK:        0000719402
Form:       8-K
Filed at:   2024-10-01T23:59:59+00:00
Accession:  0001437749-24-030313
Event type: m_and_a
Sentiment:  positive
Materiality: 0.65
Item codes: 2.01, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First National closes acquisition of Touchstone Bankshares; combined assets ~$2.1B
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- Effective Oct 1, 2024, Touchstone shareholders receive 0.8122 FXNC shares per Touchstone share.
- Pro-forma combined assets of ~$2.1B, loans $1.5B, deposits $1.8B as of Aug 30, 2024.
- Board expands from 10 to 13; three former Touchstone directors appointed (Lee-Andrews, Wilkinson, Wagstaff).
- Touchstone Bank branches to operate as a division of First Bank until systems integration in Feb 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719402/000143774924030313/0001437749-24-030313-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719402/000143774924030313/fxnc20240827_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-030313

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