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First Community Bankshares (FCBC) and Hometown Bancshares propose a stock-for-stock merger. Each Hometown share will convert into 11.706 shares of FCBC, with cash paid in lieu of fractional shares. Using FCBC prices, the exchange implied about $472.10 per Hometown share on July 18, 2025 and $402.45 on October 6, 2025. Hometown holders are expected to own about 5.3% of FCBC after closing, with current FCBC holders at about 94.7%.
The deal targets tax-free treatment as a reorganization under Section 368(a). The exchange ratio may adjust downward if Hometown’s adjusted shareholders’ equity is below $29,250,000, and Hometown has a price‑protection termination right if FCBC’s average price is below $30.74 and its ratio is under 80% of the NASDAQ Bank Index ratio. Hometown shareholders will vote at a special meeting on December 2, 2025. Appraisal rights are available under West Virginia law, excluding ESOP-held shares. Regulatory approvals are required before closing.
Dimensional Fund Advisors LP reports beneficial ownership of 912,402 shares of First Community Bankshares Inc common stock, representing 5.0% of the class. Dimensional states these shares are owned by its managed Funds and disclaims direct beneficial ownership, while reporting sole voting power for 893,481 shares and sole dispositive power for 912,402. The filing clarifies the position exists in the ordinary course of business and was not acquired to change or influence control of the issuer. The form is a Schedule 13G/A submitted under the rules for institutional investors and includes a certification by the firm’s Global Chief Compliance Officer dated 10/09/2025.
First Community Bankshares plans an all-stock merger with Hometown Bancshares, where each Hometown share will be converted into 11.706 shares of First Community common stock, with cash paid in lieu of fractional shares. Using First Community’s share prices, this implied about $472.10 per Hometown share at $40.33 and $402.45 at $34.38, so the value will move with First Community’s stock price. Based on shares outstanding as of October 1, 2025, former Hometown holders are expected to own about 5.3% of First Community after closing, with existing First Community shareholders owning about 94.7%. The deal is intended to qualify as a tax-free reorganization for U.S. federal income tax purposes, except for cash in lieu of fractional shares. Hometown shareholders will vote at a special meeting on December 2, 2025, and must approve the merger by a majority of votes present. They have appraisal rights under West Virginia law, and the merger remains subject to bank regulatory approvals and other closing conditions, including possible adjustments to the exchange ratio tied to Hometown’s shareholders’ equity and First Community’s stock performance.
First Community Bankshares, Inc. has filed a Form S-4 for a stock-for-stock merger with Hometown Bancshares, Inc., where each Hometown share will be converted into 11.706 shares of First Community common stock, with cash paid instead of fractional shares. Based on First Community’s $40.33 closing price on July 18, 2025, this implied about $472.10 of merger value per Hometown share, though the actual value will change with First Community’s share price. The exchange ratio can be adjusted downward if Hometown’s adjusted shareholders’ equity falls below $29.25 million, and Hometown has a limited right to terminate if First Community’s share price and relative index performance weaken beyond set thresholds. Pro forma, Hometown shareholders are expected to own about 5.3% of First Community after closing, with existing First Community shareholders holding about 94.7%. The deal is intended to be tax-free as a reorganization, includes appraisal rights for most Hometown shareholders, and is supported unanimously by Hometown’s board, which obtained a fairness opinion from Hovde Group.
First Community Bankshares (NASDAQ: FCBC) signed an all-stock Agreement and Plan of Merger on 19-Jul-25 to acquire Hometown Bancshares, parent of Union Bank, for approximately $41.5 million. Each Hometown share will be converted into 11.706 FCBC shares (worth $472.10 based on FCBC’s 18-Jul-25 close of $40.33); the ratio will be reduced if Hometown’s adjusted equity drops below $29.25 million. Fractional shares will be settled in cash.
Hometown contributes $402.3 million in assets, $175.7 million in loans and $365.7 million in deposits as of 30-Jun-25 across eight West Virginia branches. The deal is intended as a tax-free reorganisation; following closing, Union Bank will merge into First Community Bank.
Targeted closing is 1Q 2026, contingent on Hometown shareholder approval, listing of new FCBC shares, Federal Reserve, Virginia SCC and West Virginia approvals, effectiveness of a Form S-4 (to be filed within 60 days) and other customary conditions.
Termination rights include a 31-May-26 outside date. Under certain scenarios Hometown must pay FCBC a $2 million breakup fee. Directors holding ~17.1 % of Hometown stock have signed voting support agreements, increasing deal certainty.