January 17, 2006
Less than seven weeks after Millennium Bankshares shareholders voted not to merge with Albemarle First Bank of Charlottesville, VA, Anderson & Strudwick was able to secure another full price buyer for the Charlottesville bank. In a deal valued at $29 million, Premier Community Bankshares Inc. of Winchester, VA announced its intention to purchase Albemarle First on January 13, 2006.
With this transaction, Anderson & Strudwick continues to build upon its national status as a merger and acquisition advisor in the banking sector. Anderson & Strudwick was ranked fifth nationally in 2005 having announced nine transactions. The firm has facilitated sales, acquisitions, and public and private capital transactions in Virginia, California, Texas, Florida, Maryland, Pennsylvania, North Carolina and Wyoming.
“This transaction, when completed, will prove to be most beneficial for everyone involved, including our customers, employees and shareholders,” said Thomas Boyd, CEO of Albemarle First Bank.
“Our shareholders will benefit from a strong package put together by the entire team at Anderson & Strudwick,” said Boyd.
“Our employees will continue to work within a locally-focused community bank
and our customers will be offered a wider range of service options and experience a range of improvements while dealing with the same Albemarle First Bank they have grown used to.”
Anderson & Strudwick Investment Corp. is the parent corporation of Anderson & Strudwick, Inc., a full-service regional investment firm headquartered in Richmond, VA. With more than 100 investment professionals and support personnel, Anderson & Strudwick provides asset management, securities brokerage, investment banking, insurance products, and related financial services. The company has branch offices in Richmond, Charlottesville, Fredericksburg and Norfolk VA; Charlotte and Hickory NC; Pittsburgh and Bethlehem PA; Knoxville, TN; Columbia and Charleston, SC; and Osterville, MA; and independent affiliates in Virginia, North Carolina and Kentucky. Anderson & Strudwick, Inc.is a member of NASD and SIPC.
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