01:45 PM EDT, 08/08/2024 (MT Newswires) -- First National ( FXNC ) and Touchstone Bankshares said Thursday they have received regulatory approvals from the Federal Reserve Bank of Richmond and the Bureau of Financial Institutions of the Commonwealth of Virginia to complete their proposed merger.

The merger is expected to close in Q4, subject to satisfaction of customary closing conditions, including approvals from the shareholders of Touchstone and First National ( FXNC ), according to the joint statement.

In March, First National ( FXNC ) agreed to acquire Touchstone in an all-stock deal that values Touchstone at about $47 million.

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