The amendment to the Agreement was unanimously approved by the boards of directors of both companies today. The effects of the COVID-19 pandemic on the companies’ local economies, financial markets and other conditions prompted both companies to modify their respective financial projections and reevaluate the terms of the merger. (OTC Pink: VABB) (“Virginia Bank”) today jointly announced that they will be moving forward with their planned merger and have entered into an amendment to the initial Agreement and Plan of Reorganization, dated January 21, 2020, between Pinnacle and Virginia Bank (the “Agreement”) and DANVILLE, Va., J(GLOBE NEWSWIRE) - Pinnacle Bankshares Corporation ( PPBN) (“Pinnacle”) and Virginia Bank Bankshares, Inc.
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