First Community Bankshares To Acquire Main Street Financial Services For 0.6174 FCBC Shares Per MSWV Share with Implied Price Of ~$30.14/Share At Transaction Value Of ~$243M

Under the Agreement, Main Street will merge with and into First Community, with First Community continuing as the surviving corporation. Main Street’s wholly owned banking subsidiary, Main Street Bank Corp. ("Main Street Bank"), will merge with and into First Community’s wholly owned banking subsidiary, First Community Bank.

At September 30, 2026, Main Street reported approximately $1.6 billion in consolidated assets. Based on the companies’ reported assets at that date, the combined organization is expected to report approximately $5.2 billion in assets before transaction-related adjustments.

The proposed transaction will advance First Community’s disciplined growth strategy by strengthening its franchise in West Virginia and establishing a meaningful presence in attractive Eastern Ohio markets. The partnership will expand First Community’s banking operations to five states. The combination brings together Main Street Bank’s strong organic loan growth and established customer relationships with First Community’s low cost core deposits and liquidity, greater lending capacity, and expanded products and customer services, creating a stronger platform to serve customers across the region.

Under the terms of the Agreement, each eligible outstanding share of Main Street common stock will be converted into the right to receive 0.6174 shares of First Community common stock, with cash paid in lieu of fractional shares. Based on First Community’s 10-day volume-weighted average price of $48.82 as of October 26, 2026, the exchange ratio represents approximately $30.14 per Main Street share and an aggregate transaction value of approximately $243 million.

The Agreement has been unanimously approved by the boards of directors of First Community and Main Street. Completion remains subject to approval by the shareholders of both companies, receipt of required regulatory approvals, and other customary closing conditions. The transaction is expected to be consummated early in the second quarter of 2027, following satisfaction or waiver of the applicable closing conditions.

Upon consummation of the merger, one member of Main Street’s board of directors will join the boards of First Community and First Community Bank, and Mark Witmer will join the First Community Bank executive management team as President of the Ohio Region.