Virginia Financial Group shareholders to vote Feb. 12 on FNB merger

By Lisa Kerner

Charlotte, N.C., Jan. 3 - Virginia Financial Group, Inc. will hold a special meeting of shareholders at 3 p.m. ET on Feb. 12 to vote on the company's merger with FNB Corp.

The record date for the meeting is Dec. 17, according to a company news release.

The merger of equals is expected to close in the first quarter.

Under the companies' merger agreement, FNB shareholders will receive 1.585 shares of Virginia Financial common stock for each share of FNB common stock. Each share of Virginia Financial common stock will become one share of common stock in the new holding company.

Virginia Financial is the holding company for Planters Bank & Trust Co. of Virginia in Staunton, Va.; Second Bank & Trust in Fredericksburg, Va.; and Virginia Commonwealth Trust Co. in Culpeper, Va.

FNB, through its affiliate First National Bank based in Christiansburg, Va., operates 27 full-service branches and two loan production offices.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.