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Reston, Va.-based bank to acquire Charlottesville-area financial institution.
Byline: Carol Hazard
Jun. 11--Reston-based Millennium Bankshares Corp. plans to buy Albemarle First Bank in a transaction valued at $29 million.
Albemarle First Bank, with $125 million in total assets, has three branches in the Charlottesville area.
Millennium Bankshares has seven branches with total assets of $425 million.
"Entering the Charlottesville market area through this partnership will result in a community bank franchise that serves three of Virginia's most dynamic markets," said Carroll C. Markley, chairman, president and chief executive officer of Millennium Bankshares.
Those markets are Reston/Washington, D.C., …
