FLOYD, Va., April 22, 2016 /PRNewswire/ -- The Board of Directors of Cardinal Bankshares Corporation (OTC-QB: CDBK) and Bank of Floyd announced today that a Special Shareholder meeting will be held on May 26, 2016, at the Bank of Floyd Community Room, 203 East Oxford Street in Floyd at 10:00 AM. Cardinal Bankshares Corporation's shareholders will vote on the proposed combination of Cardinal Bankshares Corporation and Grayson National Bankshares, Inc. at the meeting.
On March 25, 2016 and April 13, 2016, respectively, the Virginia Bureau of Financial Institutions and the Board of Governors of the Federal Reserve System approved the applications filed with those regulators in connection with the merger.
In advance of the special meeting, small shareholder group informational sessions on the proposed merger between Bank of Floyd and Grayson National Bank will be held on the following dates: May 10, May 12, and May 16. These sessions also will be in the Bank of Floyd Community Room. For shareholders wishing to attend one of these informational sessions, reservations can be made by calling 540-745-5213.
About Bank of Floyd
Cardinal Bankshares Corporation is a bank holding company headquartered in Floyd, Virginia, and is the parent company for Bank of Floyd. Bank of Floyd is a community bank that serves the Roanoke and New River Valleys, as well as Floyd and Carroll Counties operating seven locations in Floyd, Hillsville, Roanoke, Salem, Christiansburg, Fairlawn and Willis. Bank of Floyd serves consumers and small businesses with a wide range of banking services, delivered in person, online and on mobile devices. Bank of Floyd had $259 million in assets as of December 31, 2015. For more information, call 540-745-4191; visit us online at www.bankoffloyd.com. Bank of Floyd is a Member of the FDIC.
FOR ADDITIONAL INFORMATION:
Jim Shortt, Chairman of the Board
Lynn Murray, Chief Administrative Officer
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SOURCE Cardinal Bankshares Corporation