May 12 (Reuters) - First Bankshares Inc:
* Suffolk-based First Bankshares Inc and richmond's xenith corporation announce
merger agreement
* Says combined organizations will operate as one-bank holding co under name
xenith bankshares inc
* Says shareholders may retain their shares of First Bankshares or receive
$9.23 per share in cash
* Says merger is expected to close in the third quarter
* Says shareholders of xenith will receive about .90 and .98 shares of First
Bankshares stock for each share held
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
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* Suffolk-based First Bankshares Inc and richmond's xenith corporation announce
merger agreement
* Says combined organizations will operate as one-bank holding co under name
xenith bankshares inc
* Says shareholders may retain their shares of First Bankshares or receive
$9.23 per share in cash
* Says merger is expected to close in the third quarter
* Says shareholders of xenith will receive about .90 and .98 shares of First
Bankshares stock for each share held
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.