First Community Bankshares to Acquire Main Street Financial in $243M Ohio Expansion Deal

First Community Bankshares, based in Bluefield, Virginia, will acquire Wooster, Ohio-based Main Street Financial Services Corp. in a roughly $243 million all-stock deal, the companies announced Wednesday. The transaction, expected to close in the second quarter of 2027, extends First Community's footprint into Ohio. The deal adds $1.6 billion in assets, $1.4 billion in deposits and $1.3 billion in loans, along with 21 branches to First Community's 61-location network. Seventeen of the new branches are in Ohio, placing the lender within an hour of downtown Cleveland. Main Street reported a 43% year-over-year jump in profit in its third-quarter earnings disclosed Tuesday. Under the terms, Main Street shareholders will receive 0.6174 shares of First Community common stock per share held, with cash for fractional shares. The deal value is based on First Community's 10-day volume-weighted average price of $48.82 as of Monday. Combined, the banks expect about $5.2 billion in assets before transaction adjustments. Main Street CEO Mark Witmer will become president of First Community's Ohio region.