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First National Bank to merge with Alliance Bank

Alliance BancShares Inc., and its wholly owned subsidiary Alliance Bank, announced Thursday, November 29, that it has entered into an agreement to acquire 100 percent of the issued shares of common stock of Mount Vernon BankShares, Inc.,

which owns all of the stock of the First National Bank of Mount Vernon. As of September 30, 2018, Alliance Bank had total assets of $740 million. On a combined basis, Alliance Bank and First National Bank will have approximately $930 million in total assets. To learn more about this merger, see the December 6 edition of the Mount Vernon Optic-Herald.