(Danville, Va.) — Danville-based American National Bankshares Inc. and HomeTown Bankshares Corporation, headquartered in Roanoke, have announced the signing of an agreement that calls for HomeTown to merge with American National in a transaction valued at approximately $95.6 million.

A news release indicates the merger will deepen American National’s footprint in the Roanoke market and create a presence in the New River Valley with an office in Christiansburg, Va.

Upon completion of the merger and with two office consolidations, American National will have 8 offices in the combined Roanoke/New River Valley markets with total deposits of over $700 million.

Based on financial results as of June 30, 2018, the combined company will have approximately $2.4 billion in assets, $1.8 billion in loans, and $2.0 billion in deposits across Virginia and North Carolina.

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