FIRST NATIONAL CORP /VA/ (FXNC) Form 10-Q — Aug 13, 2026
First National Corporation (FXNC) reported Q2 2026 net income of $5.7 million, or $0.63 per diluted share, up from $5.1 million, or $0.56, a year earlier. Six-month net income rose to $10.6 million, or $1.17 per diluted share, from $6.6 million, or $0.74, in the first half of 2025. Net interest income grew 7.7% year over year to $20.0 million as the net interest margin expanded 20 basis points to 4.15%, driven by a 28-basis-point drop in deposit costs and lower subordinated debt interest following prior-year redemptions.
Key figures
- Eps
- $0.63 diluted Q2 2026 (vs $0.56); $1.17 diluted six months 2026 (vs $0.74)
- Net Income
- $5.7 million Q2 2026 (vs $5.1 million Q2 2025); $10.6 million six months 2026 (vs $6.6 million)
- Total Debt
- $42.7 million ($25.0 million other borrowings + $8.5 million subordinated debt + $9.3 million junior subordinated debt; excludes deposits)
- Total Assets
- 2075645000
- Cash Position
- 166148000
- Shares Outstanding
- 9042629
- Total Deposits
- $1.83 billion
- Nonaccrual Loans
- $4.7 million
- Total Gross Loans
- $1.49 billion
- Efficiency Ratio Q2
- 66.59% vs 65.27% prior year
- Net Interest Income Q2
- $20.0 million, up 7.7% YoY
- Net Interest Margin Q2
- 4.15% vs 3.95% prior year
- Wealth Management AUM
- $483 million
- Return On Average Assets Q2
- 1.11%
- Return On Average Equity Q2
- 12.03%
- Quarterly Dividend Per Share
- $0.17 (vs $0.155 in Q2 2025)
- Provision For Credit Losses Q2
- 426000
- Allowance For Credit Losses Loans
- $14.9 million
- Unrealized Losses AFSSecurities
- $14.8 million
- Construction Land Development Loans
- $113.3 million (up from $88.4 million at year-end 2025)
Price after filing
Close on the filing date to close N calendar days later (from $32.17). Historical, not a forecast.
AI analysis
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