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Parkway Acquisition/Great State Bank deal includes $575,000 termination fee

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Parkway Acquisition/Great State Bank deal includes $575,000 termination fee

Great State Bank may be required to pay Floyd, Va.-based Parkway Acquisition Corp a termination fee of $575,000 upon termination of their merger agreement under certain circumstances.

Parkway Acquisition's proposed acquisition of Wilkesboro, N.C.-based Great State Bank was announced on March 1.