Carter Bankshares in Martinsville, Va., and National Bankshares in Blacksburg, Va., sold their interests in an insurance agency.
The companies disclosed in separate regulatory filings that they sold stakes in Bearing Insurance Group to an unnamed third party.
Carter said it expects to recognize a $35.8 million pretax gain that would be recognized in the second quarter. National Bankshares said it expects to record a $6.6 million pretax gain.