Acquisition of The Bank of Fincastle

On July 1, 2021, First National Corporation acquired The Bank of Fincastle (the “Acquisition”). Shareholders of The Bank of Fincastle received either 0.1649 shares of First National Corporation common stock, or a combination of $1.96 cash and .0669 shares of First National common stock, in exchange for each share of The Bank of Fincastle common stock. If you were a shareholder of The Bank of Fincastle who received cash or stock from First National Corporation as a result of the Acquisition, you are urged to consult your tax advisor to determine your tax consequences of the Acquisition. More information about the transaction and the tax basis of shares received in the exchange can be found at the following link:

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