Completed Merger

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Completed Merger

Completed Merger

On April 1, 2019, the Company announced the completion of its merger with Roanoke-based HomeTown Bankshares Corporation ("HomeTown"). The combination deepens the Company's footprint in the Roanoke, Virginia metropolitan area and creates a presence in the New River Valley with an office in Christiansburg, Virginia. After completion of the merger and with two office consolidations, the Company has eight offices in the combined Roanoke/New River Valley market area. The Company has approximately $2.5 billion in assets upon completion of the merger, based on each company's financial results as of March 31, 2019.

Pursuant and subject to the terms of the merger agreement, as a result of the merger, the holders of shares of HomeTown common stock received 0.4150 shares of the Company's common stock for each share of HomeTown common stock held immediately prior to the effective date of the merger.

Following completion of the merger, HomeTown's subsidiary bank, HomeTown Bank, was merged with and into the Bank.

The Company's financial position and results are as of and for the period ended March 31, 2019 and do not include the impact of the merger or HomeTown's financial position and results.