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FIRST NATIONAL BANKSHARES, INC., APPROVES AFFILIATION WITH F&M NATIONAL CORPORATION

 WINCHESTER, Va., Sept. 1 /PRNewswire/ -- On Monday, Aug. 31, 1993, shareholders of First National Bankshares, Inc., Emporia, Va., approved a plan of merger with F&M National Corporation (NASDAQ-NMS: FMNT), Winchester, Va., under which plan the shareholders of First National Bankshares, Inc., will receive 3,096 shares of F&M National common stock for each share of First National common stock owned.
 The affiliation was to be completed at the opening of business today.
 O. Wayne Hanks, president and chief executive officer of First National Bank of Emporia, First National Bankshares' subsidiary bank, stated: "We are pleased to become affiliated with F&M National Corporation. It will enable First National Bank of Emporia to serve our customers with new and expanded banking opportunities while providing our shareholders with increased dividend income and improved marketability of their stock."
 W.M. Feltner, chairman of F&M National Corporation, commented, "We are delighted to affiliate with First National Bank of Emporia and become a part of Emporia and Greensville County."
 On July 31, 1993, First National Bank of Emporia had total assets of $68.1 million. F&M National Corporation had total assets of $1.139 billion as of July 31, 1993.
 F&M National Corporation has eight banking affiliates, with a total of 53 banking offices: F&M Bank-Winchester, Winchester; F&M Bank- Massanutten, Harrisonburg, Va.; F&M Bank-Richmond, Richmond, Va.; F&M Central-Virginia, Charlottesville, Va.; F&M Bank-Broadway, Broadway, Va.; F&M Martinsburg, Martinsburg, W.Va.; F&M Bank-Blakeley, Ranson, W.Va.; and F&M-Keyser, Keyser, W.Va. F&M's common stock is traded over- the-counter and is listed on the NASDAQ Exchange under the symbol FMNT.
 -0- 9/1/93
 /CONTACT: Jack R. Huyett, president/chief administrative officer, 703-665-4379, or Alfred B. Whitt, senior vice president/secretary, 703-665-4282, both of F&M National Corporation/
 (FMNT)


CO: First National Bankshares, Inc.; F&M National Corporation ST: Virginia, West Virginia IN: FIN SU: TNM

MH-KD -- DC021 -- 8061 09/01/93 15:24 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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