Virginia National Bankshares | 10-Q: FY2026 Q1 Revenue: USD 20.37 M

Revenue: As of FY2026 Q1, the actual value is USD 20.37 M.EPS: As of FY2026 Q1, the actual value is USD 0.97.EBIT: As of FY2026 Q1, the actual value is USD -6.374 M.Segmented Financial MetricsBank SegmentFor the three months ended March 31, 2026: Net Interest Income: $12,906 thousand Recovery of Credit Losses: - $336 thousand Net Interest Income after Recovery of Credit Losses: $13,242 thousand Noninterest Income: $1,269 thousand Deposit account fees: $366 thousand Debit/credit card and ATM fees: $251 thousand Bank owned life insurance income: $319 thousand Gains on sale of assets, net: $5 thousand Other: $328 thousand Noninterest Expense: $7,892 thousand Salaries and employee benefits: $3,810 thousand Net occupancy: $753 thousand Equipment: $186 thousand Bank franchise tax: $468 thousand Computer software: $214 thousand Data processing: $537 thousand FDIC deposit insurance assessment: $175 thousand Marketing, advertising and promotion: $266 thousand Professional fees: $303 thousand Core deposit intangible amortization: $247 thousand Other: $933 thousand Income before Income Taxes: $6,619 thousand Provision for Income Taxes: $1,299 thousand Net Income: $5,320 thousand For the three months ended March 31, 2025: Net Interest Income: $12,294 thousand Recovery of Credit Losses: - $160 thousand Net Interest Income after Recovery of Credit Losses: $12,454 thousand Noninterest Income: $1,531 thousand Deposit account fees: $307 thousand Debit/credit card and ATM fees: $370 thousand Bank owned life insurance income: $293 thousand Gains on sale of assets, net: $278 thousand Other: $283 thousand Noninterest Expense: $8,468 thousand Salaries and employee benefits: $3,697 thousand Net occupancy: $984 thousand Equipment: $182 thousand Bank franchise tax: $339 thousand Computer software: $256 thousand Data processing: $696 thousand FDIC deposit insurance assessment: $145 thousand Marketing, advertising and promotion: $254 thousand Professional fees: $222 thousand Core deposit intangible amortization: $295 thousand Other: $1,398 thousand Income before Income Taxes: $5,517 thousand Provision for Income Taxes: $927 thousand Net Income: $4,590 thousand VNB Trust & Estate Services SegmentFor the three months ended March 31, 2026: Net Interest Income: $0 thousand Recovery of Credit Losses: $0 thousand Net Interest Income after Recovery of Credit Losses: $0 thousand Noninterest Income: $220 thousand Wealth management fees: $220 thousand Noninterest Expense: $307 thousand Salaries and employee benefits: $189 thousand Net occupancy: $26 thousand Data processing: $13 thousand Marketing, advertising and promotion: $1 thousand Professional fees: $45 thousand Other: $33 thousand Income before Income Taxes: - $87 thousand Provision for Income Taxes: - $26 thousand Net Loss: - $61 thousand For the three months ended March 31, 2025: Net Interest Income: $0 thousand Recovery of Credit Losses: $0 thousand Net Interest Income after Recovery of Credit Losses: $0 thousand Noninterest Income: $229 thousand Wealth management fees: $229 thousand Noninterest Expense: $356 thousand Salaries and employee benefits: $239 thousand Net occupancy: $32 thousand Equipment: $4 thousand Data processing: $39 thousand Professional fees: $34 thousand Other: $8 thousand Income before Income Taxes: - $127 thousand Provision for Income Taxes: - $26 thousand Net Loss: - $101 thousand Consolidated Operational MetricsFor the three months ended March 31, 2026: Total Assets: $1,648,164 thousand Total Liabilities: $1,461,667 thousand Total Shareholders’ Equity: $186,497 thousand Net Income: $5,259 thousand Recovery of Credit Losses: - $336 thousand Total Noninterest Income: $1,489 thousand Total Noninterest Expense: $8,199 thousand Net Cash Provided by Operating Activities: $7,244 thousand Net Cash Provided by Investing Activities: $5,960 thousand Net Cash Used in Financing Activities: - $6,952 thousand Net Increase in Cash and Cash Equivalents: $6,252 thousand Cash and Cash Equivalents (End of period): $76,866 thousand Return on Average Assets (ROAA): 1.30% Return on Average Equity (ROAE): 11.34% Tangible Book Value per Share: $32.51 Nonaccrual Loans: $2,147 thousand ACL to Total Loans: 0.64% ACL to Nonaccrual Loans: 371.73% For the three months ended March 31, 2025: Net Income: $4,489 thousand Recovery of Credit Losses: - $160 thousand Total Noninterest Income: $1,760 thousand Total Noninterest Expense: $8,824 thousand Net Cash Provided by Operating Activities: $2,092 thousand Net Cash Provided by Investing Activities: $1,726 thousand Net Cash Provided by Financing Activities: $8,652 thousand Net Increase in Cash and Cash Equivalents: $12,470 thousand Cash and Cash Equivalents (End of period): $29,573 thousand Return on Average Assets (ROAA): 1.12% Return on Average Equity (ROAE): 11.05% Tangible Book Value per Share: $28.84 Nonaccrual Loans: $2,198 thousand ACL to Total Loans: 0.67% ACL to Nonaccrual Loans: 376.25% Unique MetricsLoans, Net: $1,229,688 thousand as of March 31, 2026, and $1,229,307 thousand as of December 31, 2025. Total Deposits: $1,426,728 thousand as of March 31, 2026, a decrease of $5,000 thousand or 0.3% from $1,431,731 thousand as of December 31, 2025. Uninsured Deposits: Estimated at $378,400 thousand (26.5% of total deposits) as of March 31, 2026, and $392,000 thousand (27.4% of total deposits) as of December 31, 2025. Loan Growth: Virginia National Bankshares Corporation funded $39,000 thousand in loans in Q1 2026, comprising $28,000 thousand in organic production and $11,000 thousand in purchased government-guaranteed loans, although overall loan balances remained flat due to paydowns and amortization. Future Outlook and StrategyVirginia National Bankshares Corporation aims to maximize earnings to increase long-term shareholder value by monitoring key metrics like return on average assets, return on average equity, net income per share, and tangible book value per share. The company continuously monitors global and national events, including inflation, interest rates, and regulatory changes, and plans to deploy solid asset liability management strategies to manage interest rate risk, balance sheet trends, deposit flows, and liquidity needs. Additionally, Virginia National Bankshares Corporation expects to realize a pre-tax gain of approximately $4,700 thousand from the sale of FBS’s interest in Bearing Insurance Group, LLC, to be reflected in the second quarter of 2026.