First Community Bancshares, Inc. and Hometown Bancshares, Inc. have entered into an agreement under which Hometown will merge with and into First Community. The companies recently mailed a proxy statement/prospectus to Hometown shareholders, correcting an earlier error regarding an initial indication of interest from another institution. Regulatory approval for the merger has been received from the Federal Reserve Bank of Richmond and the West Virginia Division of Financial Institutions, with approval from the Virginia State Corporation Commission Bureau of Financial Institutions and Hometown's shareholders still pending. The Hometown Board of Directors has recommended the merger, citing a favorable fairness opinion from its financial advisor.
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