First National Corp to Acquire Shenandoah Valley Bancorp
Ticker: FXNC · Form: 8-K · Filed: Feb 13, 2025 · CIK: 719402
| Field | Detail |
|---|---|
| Company | First National CORP /Va/ (FXNC) |
| Form Type | 8-K |
| Filed Date | Feb 13, 2025 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.25, $0.155 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, merger, financials
TL;DR
FNBC buying SVBC, deal expected Q3 2025.
AI Summary
First National Corporation announced on February 12, 2025, that it has entered into a definitive agreement to acquire Shenandoah Valley Bancorp, Inc. The transaction is expected to close in the third quarter of 2025, subject to regulatory approvals and shareholder votes. This acquisition will expand First National Corporation's presence in Virginia.
Why It Matters
This acquisition will create a larger regional bank, potentially leading to expanded services and market reach for customers in Virginia.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks including regulatory hurdles, integration challenges, and potential market reception.
Key Players & Entities
- First National Corporation (company) — Registrant and acquirer
- Shenandoah Valley Bancorp, Inc. (company) — Target company to be acquired
- Virginia (location) — State of incorporation and market presence
- February 12, 2025 (date) — Date of the reported event
- third quarter of 2025 (date) — Expected closing period for the acquisition
FAQ
What is the primary purpose of this Form 8-K filing?
This Form 8-K is filed to report the entry into a definitive agreement by First National Corporation to acquire Shenandoah Valley Bancorp, Inc.
Who is acquiring whom in this transaction?
First National Corporation is acquiring Shenandoah Valley Bancorp, Inc.
When is the acquisition expected to be completed?
The acquisition is expected to close in the third quarter of 2025.
What are the conditions for the completion of the acquisition?
The acquisition is subject to customary closing conditions, including regulatory approvals and shareholder votes.
Where is First National Corporation incorporated?
First National Corporation is incorporated in Virginia.
Filing Stats: 413 words · 2 min read · ~1 pages · Grade level 11.6 · Accepted 2025-02-13 14:57:18
Key Financial Figures
- $1.25 — h registered Common Stock , par value $1.25 per share FXNC The Nasdaq Stock Mark
- $0.155 — y declared a quarterly cash dividend of $0.155 per common share, which is payable on M
Filing Documents
- fxnc20250212_8k.htm (8-K) — 31KB
- 0001437749-25-003738.txt ( ) — 159KB
- fxnc-20250212.xsd (EX-101.SCH) — 3KB
- fxnc-20250212_def.xml (EX-101.DEF) — 11KB
- fxnc-20250212_lab.xml (EX-101.LAB) — 15KB
- fxnc-20250212_pre.xml (EX-101.PRE) — 11KB
- fxnc20250212_8k_htm.xml (XML) — 3KB
01
Item 8.01 Other Events. On February 12, 2025, the Board of Directors of the Company declared a quarterly cash dividend of $0.155 per common share, which is payable on March 14, 2025 to shareholders of record as of February 28, 2025.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FIRST NATIONAL CORPORATION (Registrant) Date: February 13, 2025 By: /s/ Bruce E. Thomas Bruce E. Thomas Senior Vice President and Interim Chief Financial Officer 3