American National Bankshares in Danville, Va., has agreed to buy MainStreet BankShares in Martinsville, Va.

The $1.3 billion-asset American National will pay about $24.2 million in cash and stock for the $166 million-asset MainStreet. In addition to combining institutions in southeastern Virginia, the deal will allow American National to enter Roanoke, Va. The merger values MainStreet at about 97% of its book value.

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