- Associated Press - Thursday, November 20, 2014

STRASBURG, Va. (AP) - First Bank plans to acquire six Bank of America branches in the Shenandoah Valley.

The branches are located in Dillwyn, Farmville, Staunton, Waynesboro and Woodstock.

Media outlets report that the Strasburg-based bank’s holding company, First National Corporation, announced the acquisition on Wednesday.

The acquisition is expected to be completed by the second quarter of 2015. First Bank says it plans to hire all the branches’ employees.

Bank of America spokeswoman Nicole Nastacie says the bank decided to sell the branches to a community bank instead of closing them in order to preserve jobs and continue local banking services in the communities.

As of Sept. 30, First Bank had $519 million in assets.

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2021 The Washington Times, LLC.

Please read our comment policy before commenting.


Click to Read More and View Comments

Click to Hide