Bank of America is selling six of its branches in Southwest Virginia to First Community Bank.
WDBJ7 reported Wednesday that Bank of America is selling 10 other branches in the region to HomeTrust Bank. Click here to read that story.
First Community Bank will acquire Bank of America branches in Blacksburg, Pulaski, Hillsville, Wytheville, Gate City, and Abingdon. First Community is also purchasing a branch in Mount Airy, N.C.
"We are pleased to add these branches to our existing branch network in Southwestern Virginia and the Piedmont Region in North Carolina," Gary Mills, chief executive officer of First Community Bank, wrote in a news release. "This branch acquisition fits squarely with our strategic objective to grow our banking franchise in markets that are in or near our core banking operations. These branches complement our existing operations in Southwestern Virginia and the Piedmont Region and we are truly excited to bring our style of banking to these communities."
First Community Bank is a subsidiary of First Community Bancshares Inc., which is based in Bluefield, Virginia.
The deal is expected to close later this year.