First Community Bankshares, Inc. Announces Acquisition of Main Street Financial Services Corp.
Key Highlights
- ➤$243 million all-stock acquisition values Main Street at approximately $30.14 per share
- ➤0.6174 First Community shares offered for each eligible Main Street share
- ➤Combined organization expected to report approximately $5.2 billion in assets
- ➤Transaction expands First Community’s banking operations to five states
- ➤Closing expected early in the second quarter of 2027, pending approvals
Expert Statements
Mark R. Witmer, Chairman, President and Chief Executive Officer of Main Street
“This partnership represents an exciting next chapter for Main Street and an attractive opportunity for our shareholders, customers and employees. We have built a strong community banking franchise through disciplined lending, exceptional customer service and longstanding relationships in the markets we serve. By joining First Community, we will gain the financial strength, lending capacity and expanded capabilities of a larger organization while preserving the local relationships and personalized service that have been central to our success. I am particularly excited about the opportunities this combination creates for our employees and our ability to better serve our customers and communities for years to come.”
Gary Mills, President and CEO of First Community Bank
“Main Street Bank is a high performing community bank, presenting a balance sheet and loan asset generation very complimentary to First Community Bank’s liquidity and balance sheet management. They possess a high acumen in farm and agricultural lending which will allow First Community to better serve its longstanding rural markets. Mark Witmer is an outstanding individual and banker who has provided Main Street exemplary leadership as President and CEO. We couldn’t be more excited about Mark joining our executive team as President of the Ohio Region”
William P. Stafford II, Chairman and Chief Executive Officer of First Community
“This partnership brings together complementary strengths benefiting both organizations. Main Street brings talented bankers, a demonstrated ability to organically grow loans, and attractive markets in which to employ our customer-focused community banking. First Community brings liquidity from a strong core deposit franchise, disciplined capital management, and the resources of a larger organization. Together, we can offer customers higher lending limits and enhanced products and technology while creating opportunities for growth and operating efficiencies. We believe this combination positions us to build long-term value and deliver superior returns for our shareholders.”
BLUEFIELD, Va., Oct. 28, 2026 (GLOBE NEWSWIRE) -- First Community Bankshares, Inc. (“First Community”) (NASDAQ: FCBC), based in Bluefield, Virginia, and Main Street Financial Services Corp. (“Main Street”) (OTCQX: MSWV), based in Wooster, Ohio, jointly announced today the signing of an Agreement and Plan of Merger (the “Agreement”).
Under the Agreement, Main Street will merge with and into First Community, with First Community continuing as the surviving corporation. Main Street’s wholly owned banking subsidiary, Main Street Bank Corp. (“Main Street Bank”), will merge with and into First Community’s wholly owned banking subsidiary, First Community Bank.
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