Parkway Acquisition Corp. (OTCQX: PKKW), the parent company of Skyline National Bank announced the completion of its merger with Great State Bank (OTC Pink: GSTB), effective July 1, 2018. Under the terms of the merger agreement, Great State shareholders received 1.21 shares of Parkway common stock for each share of Great State common stock owned.

"With the legal merger now complete, we are committed to making the customer transition as seamless as possible," said Allan Funk, President and CEO of Parkway. "We believe that our customers prefer to do business locally, and we want to be the bank of choice for those customers who prefer the personal experience of a local bank and service that is Always Our Best. Greg Edwards and the Great State team are the right people to introduce the Skyline commitment to local banking in Watauga, Wilkes and Yadkin counties."

"This combination provides a natural extension of neighboring banks with a shared mission and purpose to offer an unmatched customer experience serving hometown businesses in our region," added Greg Edwards, President and CEO of Great State.

Great State is expected operate as a division of Skyline National Bank until operating systems are converted and the Great State offices are rebranded as Skyline National Bank in September 2018.

In connection with the transaction, Raymond James & Associates, Inc. acted as financial advisor to Parkway. Performance Trust Capital Partners, LLC acted as financial advisor to Great State.