First Bankshares and Xenith receive regulatory approval

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First Bankshares Inc. and Xenith Corp. have received all necessary regulatory approvals and plan to merge around Dec. 31.

The company received the federal bank regulatory approvals necessary to merge from the Federal Reserve Bank of Dallas.

The company received approval from the State Corporation Commission on Sept. 25 and from shareholders on Oct. 15.

Xenith will merge into First Bankshares and the company will be called Xenith Bankshares Inc.

Upon the closing of the merger, Xenith Corp . will merge with and into First Bankshares and become known as Xenith Bankshares Inc.

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