Premier to Acquire First National Bankshares
Premier Financial Bancorp says it plans to acquire First National Bankshares in a deal worth about $26.5 million in cash and stock.
Huntington-based Premier announced a definitive
agreement to acquire Ronceverte-based First National on Tuesday in a news release.
Premier says the acquisition will expand its wholly owned subsidiary, Premier Bank, Inc., into West Virginia's Greenbrier Valley and into Covington, Virginia.
First National's wholly owned bank subsidiary, First National Bank, will be merged into Premier Bank.
If approved by regulators and shareholders, the deal is expected to close in the fourth quarter of this year.
Premier is a $1.3 billion community bank holding company that also owns Citizens Deposit Bank.
First National is $261 million single bank holding company.