In a move that would make it the dominant bank in southwest Virginia, First Virginia Banks Inc. said it has agreed to acquire Premier Bankshares for $160.4 million of stock.

Premier, which is based in Bluefield, Va., has $744 million of assets and $650 million of deposits. The deal would push Falls Church-based First Virginia into first place in deposit market share in five counties in the southwestern corner of the state, between Roanoke and Bristol.

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