Bracewell & Giuliani LLP is representing WashingtonFirst Bankshares, Inc. in the acquisition of Alliance Bankshares Corporation. The transaction is valued at approximately $24.4 million, which WashingtonFirst will pay with a combination of cash and stock. It will mark the largest acquisition by WashingtonFirst since its inception in 2004. In conjunction with the acquisition, WashingtonFirst has commitments for $20 million in additional equity capital from institutional investors, existing Board members, and other local investors.
The transaction is expected to close in the fourth quarter of 2012.