Industries Banking/Finance

American National completes merger with MidCarolina

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Danville-based American National Bankshares Inc. has completed its $34.7 million merger with MidCarolina Financial Corp.

The all-stock deal increases American National’s total assets to about $1.3 billion and expands its presence in North Carolina’s Burlington-Greensboro area.

Under the merger agreement, MidCarolina shareholders received 0.33 shares of
American National common stock for each share of MidCarolina common stock .

After the deal was completed, MidCarolina’s subsidiary bank, MidCarolina Bank, was merged into American National Bank and Trust Co.

Plans call for the eight MidCarolina offices in Alamance and Guilford counties to continue operating under that name as a division of American National Bank until
early 2012.


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