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Banks
Shareholders of Virginia Capital Bank in Richmond will vote January 30 to approve an affiliation ofrVirginia Capital Bank and T & M National Corporation of Winchester. ”
The agreement, which is also subject to approval by state and federal regulatory authorities, calls for an exchange of Virginia Capital stock for F & M National Corporation sto^k on a share for share basis Jor each of the 270,183 outstanding Virginia Capital shares. According to the agreement, Virginia Capital will merge with the Suburban Bank, a Richmond subsidiary of F & M National Corporation.
As of September 30, F & M had assets of $365.2 million and stockholders’ equity of $27.4 million. At the same time, Virginia Capital had total assets of $22.7 million and stockholders’ equity of $2.3 million.
89.8%