05:59 PM EDT, 06/03/2024 (MT Newswires) -- National Bankshares ( NKSH ) has closed on its acquisition of Frontier Community Bank, with the roughly $16.1 million cash-and-stock transaction adding three branch locations in Virginia, the holding company of The National Bank of Blacksburg said late Monday.

Under terms of the now-completed deal, investors had the choice of receiving either $14.48 in cash or 0.4250 of National Bankshares ( NKSH ) common share for each of their Frontier shares. The company said it now operates 27 branches in central and southwest Virginia, along with two loan processing facilities in the state, with around $1.8 billion in total assets.

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