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Blue Ridge, Virginia Community Bankshares get regulatory approvals for merger

Luray, Va.-based Blue Ridge Bankshares Inc. and Louisa, Va.-based Virginia Community Bankshares Inc. announced receipt of regulatory approvals for their proposed merger.

The Office of the Comptroller of the Currency, the Federal Reserve Bank of Richmond and the Virginia State Corporation Commission all gave approval for the deal to move forward.

Blue Ridge will be the surviving entity after deal completion. Financial terms of the deal were not disclosed.

The merger is still subject to approval from shareholders. Shareholder meetings for both companies are expected to be held Dec. 12.