RICHMOND, Va. -- A bank from the northern part of the state is making its second acquisition in less than three years in part to expand its presence in the greater Richmond market.
Strasburg-based First Bank on Tuesday announced its pending deal to absorb Touchstone Bank, which is headquartered in Prince George and has branches around the southern edges of the region.
The deal is expected to close in the fourth quarter and would create a $2.1 billion institution with 32 branches.
Touchstone is the smaller of the two with $658 million in total assets and 12 branches, seven of which are in the Richmond metro area.
