Frontier Community Bank Merges with National Bankshares

In January 2024, National Bankshares and Frontier Community Bank announced they had entered into a merger agreement for National Bankshares to acquire Frontier.

Frontier Community Bank, headquartered in Waynesboro, Virginia, was founded in 2008. The bank currently operates 3 full-service branches. As of September 30, 2023, Frontier had total assets of approximately $154 million.

The transaction received unanimous approval by both National Bankshares’ and Frontier’s Board of Directors and executive officers and directors have entered into support agreements to vote the shares of Frontier they own in favor of the acquisition. The

Woods Rogers attorneys Autumn Visser, Jay Spruill, Geoff Hemphill, and Gil Topaz advised Frontier on the transaction.

Commenting on the representation, Jay Spruill offered, “it was gratifying to work with Frontier leadership and represent them throughout this transaction. Our team brought a mix of skills to the table in financial services, mergers & acquisitions, tax, ERISA and employment benefits, and transactional work. All were needed to bring this matter to a satisfying conclusion for our client.”

Read more about Woods Rogers sophisticated handling of mergers and acquisitions.