First National Expands Through Touchstone Merger

The latest update is out from First National ( (FXNC) ).

On October 1, 2024, First National Corporation successfully completed its announced merger with Touchstone Bankshares, Inc., significantly expanding its assets, loans, and deposits. Touchstone’s common and preferred stock were converted into First National’s common stock, with each Touchstone share entitled to 0.8122 shares of First National. The merger is poised to provide greater resources to small businesses and potentially elevate the company to the Russell 2000 index, while maintaining local banking commitments. Touchstone branches will operate under First Bank until full integration in early 2025.

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