First Community Bankshares has agreed to buy Main Street Financial Services of Wooster, Ohio, in an all-stock deal valued at about US$243m, the companies said on 28 October 2026.
Why First Community Bankshares, Inc. is buying Main Street Financial Services Corp.
The deal takes First Community into Ohio and creates a combined group with about US$5.2bn of assets. Main Street chief executive Mark Witmer will become president of First Community's Ohio region, and one Main Street director will join the boards of both First Community companies.
“This partnership brings together complementary strengths benefiting both organizations”
Deal terms and financing
Each Main Street share will be converted into 0.6174 First Community shares, with cash for fractional shares, implying about US$30.14 per share. Main Street will merge into First Community, and Main Street Bank Corp. into First Community Bank. Both boards approved the agreement unanimously.
Regulatory approvals and timing
Completion requires approval by both companies' shareholders and bank regulators. The companies expect to close early in the second quarter of 2027; either party may terminate if the deal has not closed by 31 August 2027.
Market context
Main Street had about US$1.6bn of assets, US$1.3bn of loans and US$1.4bn of deposits at 30 September 2026, and operates 21 branches across east-central Ohio and the northern panhandle of West Virginia.
