On April 17, 2024, Johnson County Bank, Mountain City, Tennessee, announced it had signed a definitive merger agreement with Skyline Bankshares, Inc., Floyd, Virginia, pursuant to which Johnson County Bank will merge with and into Skyline National Bank in an all cash transaction valued at approximately $25.0 million.

Johnson County Bank has approximately $152.0 million in total assets.

Skyline Bankshares, Inc. is the holding company for Skyline National Bank and has approximately $1.0 billion in total assets.

Luse Gorman is serving as legal counsel to Johnson County Bank in the transaction. The Luse Gorman team consists of Larry Spaccasi, Tom Hutton and Zachary Davis.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.