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August 25, 2014
08:32 EDTAMNB, MREEAmerican National Bankshares, MainStreet BankShares announce merger
American National Bankshares (AMNB) and MainStreet BankShares (MREE) announced the signing of an agreement which calls for MainStreet to merge with American National in a transaction valued at approximately $24.2M. The transaction expands American National's footprint into the Roanoke, VA, metropolitan statistical area, adding three bank branches in Franklin County and the Smith Mountain Lake area. American National will have approximately $1.5B in assets upon completion of the merger. Under the terms of the agreement, shareholders of MainStreet common stock will receive 0.482 shares of American National common stock and $3.46 in cash for each share of MainStreet they own. As of the close of business on August 22, the per share acquisition price equaled approximately $14.05, or approximately 97% of MainStreet's June 30, book value per share. The per share acquisition price will fluctuate with the value of American National common stock. MainStreet shareholders will own approximately 10% of the combined company. Following the completion of the merger, American National will remain well-capitalized and the company expects the transaction will be accretive to EPS.
News For AMNB;MREE From The Last 14 Days
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November 19, 2015
13:01 EDTAMNBAmerican National Bankshares announces 300,000 share repurchase program
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November 18, 2015
13:00 EDTAMNBAmerican National Bankshares increases quarterly dividend by 4.3% to 24c
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