What does AFBA stand for?

Albemarle First Bank (NASDAQ:AFBK) and Premier Community Bankshares, Inc.

Albemarle First Bank (NASDAQ: AFBK) and Premier Community Bankshares, Inc.

Albemarle First Bank offers a full range of banking and financial services to individuals, professionals, and small and medium-sized businesses in the City of Charlottesville, Albemarle County, Greene County, and the surrounding areas.

NASDAQ:PREM) and Albemarle First Bank (NASDAQ: AFBK) announced today that they have entered into a definitive agreement providing for the merger of the two companies.

Albemarle First Bank (NASDAQ: AFBK) announced today that the Agreement and Plan of Reorganization, dated June 9, 2005, and amended September 27, 2005, (the "Merger Agreement") between Albemarle First Bank ("Albemarle") and Millennium Bankshares Corporation ("Millennium") pursuant to which Albemarle would have become a wholly-owned subsidiary of Millennium (the "Merger") failed to obtain the necessary approvals from the shareholders of Millennium.

Millennium Bankshares Corporation (Nasdaq: MBVA) announced today that, at the special meeting of its shareholders held on November 28, 2005, the matters related to Millennium Bankshares' proposed acquisition of Albemarle First Bank did not receive the requisite vote of the shareholders of Millennium Bankshares and, as a result, the Board of Directors of Millennium Bankshares determined to terminate the definitive agreement with Albemarle First Bank.

For example, we expect that the completion of our pending acquisition of Albemarle First Bank (Nasdaq:AFBK) should enable us to leverage our infrastructure and we expect improved efficiency from the restructure of our mortgage operations.

The merger will allow Albemarle First Bank the opportunity to expand our presence in the Charlottesville market while providing customers with additional products and services.