One Valley Bancorp said its first-quarter earnings would fall short of expectations because of one-time charges connected with completing its acquisition of FFVA Financial Corp. in the first quarter, rather than in the second quarter as originally planned.

One Valley's first-quarter earnings may be 3 cents per share below the consensus estimate of 55 cents published by First Call Corp., the company said. If the transaction were not closing in the first quarter, One Valley's basic earnings per share would be close to the 55 cent estimate.

After the completion of the merger with FFVA Financial, Lynchburg, Va., which had $580 million in assets on Dec. 31, One Valley will be a $5.5 billion-asset company with 115 locations.

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