FIRST NATIONAL CORP /VA/ SEC 10-Q Report

First National Corp /VA/, a prominent financial institution, has released its Form 10-Q report for the third quarter of 2025. The report highlights significant financial growth and operational advancements, underscoring the company's robust performance in the banking sector. The following sections provide a detailed summary of the key financial and business highlights from the report.

Financial Highlights

Total Interest and Dividend Income: The company reported $25.087 million for the three months ended September 30, 2025, a substantial increase from $17.444 million in the same period of 2024. This growth was primarily driven by higher interest and fees on loans.

Net Interest Income: Net interest income rose to $18.295 million for the three months ended September 30, 2025, up from $11.749 million in the same period of 2024, indicating improved interest margins.

Provision for Credit Losses: The provision for credit losses decreased to $193 thousand for the three months ended September 30, 2025, from $1.7 million in the same period of 2024, suggesting improved credit quality.

Net Income: Net income for the three months ended September 30, 2025, was $5.550 million, compared to $2.248 million in the same period of 2024, highlighting strong earnings growth.

Basic Earnings Per Common Share: Basic earnings per common share increased to $0.62 for the three months ended September 30, 2025, up from $0.36 in the same period of 2024, reflecting higher profitability.

Diluted Earnings Per Common Share: Diluted earnings per common share were consistent with the basic EPS at $0.62, indicating minimal dilution effects.

Total Noninterest Income: Total noninterest income increased to $4.500 million for the three months ended September 30, 2025, from $3.203 million in the same period of 2024, driven by higher service charges and fees.

Total Noninterest Expense: Total noninterest expense rose to $15.782 million for the three months ended September 30, 2025, up from $10.459 million in the same period of 2024, primarily due to increased salaries and employee benefits.

Business Highlights

Revenue Segments: The company reported noninterest income from various streams including service charges on deposit accounts, ATM and check card fees, wealth management fees, brokered mortgage fees, and fees for other customer services. These revenue streams are part of the company's operational performance and contribute to its overall financial health.

Geographical Performance: Following the acquisition of Touchstone Bankshares, Inc., the company expanded its operations in Virginia and North Carolina. The former branches of Touchstone Bank now operate as First Bank in Virginia and First Bank of the Commonwealth in North Carolina, enhancing the company's regional presence and service delivery.

Future Outlook: The company anticipates continued integration of the Touchstone Bank operations, which is expected to enhance service delivery and operational efficiency. The management is focused on leveraging the expanded branch network to drive growth and improve customer service in the newly acquired regions.

SEC Filing: FIRST NATIONAL CORP /VA/ [ FXNC ] - 10-Q - Nov. 14, 2025