TruPoint Bank Completes Acquisition of First Community Bank of East Tennessee
GRUNDY, VA, October 1, 2025 – Miners and Merchants Bancorp, Inc., the parent company of TruPoint Bank, located in Grundy, Virginia, today announced the completion of its acquisition of First Community Corporation, the parent company of First Community Bank of East Tennessee, located in Rogersville, Tennessee. The acquisition, which included the merger of First Community Bank into TruPoint, was effective October 1, 2025.
The acquisition strengthens TruPoint’s presence in eastern Tennessee and creates a combined institution with approximately $700 million in total assets and 16 banking offices in North Carolina, Tennessee and Virginia.
“We are excited for First Community to officially join TruPoint,” said Barry C. Elswick, President and Chief Executive Officer of Miners and Merchants Bancorp. “This partnership pairs two institutions that share similar cultures of service and community, and we look forward to bringing our products and services to First Community’s clients and building a stronger future together.”
First Community Bank’s locations will operate as a division of TruPoint until the core systems and operations of First Community Bank are converted to those of TruPoint, scheduled for December 2025.
Contacts:
Miners and Merchants Bancorp, Inc.
Barry Elswick
President and Chief Executive Officer
(276) 935-8161
Forward-looking statements: This release contains forward-looking statements within the meaning of federal securities laws. These include statements regarding future results, objectives and expectations relating to Miners and Merchants’ acquisition of First Community and other statements that are not historical facts. These forward-looking statements (generally identified by the use of words such as “believe,” “expect,” “will” or similar expressions) are based on certain assumptions and current beliefs and expectations and are subject to significant risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements. Miners and Merchants assumes no obligation to revise, update, or clarify forward-looking statements to reflect events or conditions after the date of this release.