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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
September 26, 2000
PIONEER BANKSHARES, INC.
(Exact Name of Registrant as Specified in Its Chapter)
Virginia 000-30541 54-1278721
(State of other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
_________________________
263 East Main Street
P.O. Box 10
Stanley, Virginia 22851
(Address of principal executive offices)
(Registrant's telephone number,
including area code): (540-778-2294)
_________________________
(Former name or former address, if changed since last report)
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Item 5. Other Events
(a) As explained in the attached press release, Pioneer Bankshares, Inc.'s
wholly owned subsidiary, Pioneer Financial Services, LLC announced on
September 26, 2000 that it had entered into an agreement to purchase all
the outstanding stock of Valley Finance Service, Inc. The purchase price
will be paid in cash and is anticipated to be between $1 million to $1.5
million with the final purchase price to be determined after an audit of
Valley Finance Service, Inc. Pioneer Financial Services, LLC will assume
operations of Valley Finance Service, Inc. on October 23, 2000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PIONEER BANKSHARES, INC.,
REGISTRANT
Date: October 3, 2000 By: /s/ Thomas R. Rosazza
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Thomas R. Rosazza
President and Chief Executive Officer
