FIRST NATIONAL CORP /VA/ (FXNC) Form 8-K — Oct 23, 2026
First National Corporation (NASDAQ: FXNC) reported record third quarter 2026 results with net income of $6.9 million and EPS of $0.76, up from $0.62 a year ago, along with nine-month net income of $17.5 million and EPS of $1.94 versus $1.36 in the prior year period. Profitability improved across the board: return on average assets rose to 1.32% from 1.09%, return on equity hit 14.02%, and the fully tax-equivalent net interest margin expanded to 4.38% from 3.84% a year earlier, helped by $867 thousand in acquisition accounting accretion. Net loans grew $13.6 million in the quarter (3.7% annualized) with asset quality sound at 0.26% NPAs to total assets.
Key figures
- Eps
- 0.76
- Revenue
- $25.3 million Q3 net revenue (net interest income $21.2 million + noninterest income $4.1 million)
- Guidance
- One-time gain on sale of two North Carolina banking offices expected in Q4 2026
- Net Income
- 6900000
- Total Debt
- $25.0 million FHLB borrowings, $8.5 million subordinated debt, $9.3 million junior subordinated debt
- Total Assets
- 2074860000
- Cash Position
- 167576000
- Shares Outstanding
- 9057224
- Ytd EPS
- 1.94
- Diluted EPS
- 0.76
- Ytd Net Income
- $17.5 million
- Total Deposits
- $1.829 billion
- Efficiency Ratio
- 63.21%
- Net Loan Growth Q3
- $13.6 million (3.7% annualized)
- Dividend Per Share
- 0.17
- Net Loan Growth YTD
- $67.3 million (4.7%)
- Branch Count Reduction
- 33 to 28 by year end
- Net Interest Margin FTE
- 4.38%
- Return On Average Assets
- 1.32%
- Return On Average Equity
- 14.02%
- Common Equity Tier1 Ratio
- 12.98%
- Allowance For Credit Losses
- $14.4 million (0.96% of loans)
- Non Performing Assets Ratio
- 0.26% of total assets
- Tangible Book Value Per Share
- 19.94
- Noninterest Bearing Deposits
- $520.1 million (28% of deposits)
- Tier1 Risk Based Capital Ratio
- 13.59%
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.