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.

Financial Performance Overview

Virginia National Bankshares Corporation reported a net income of $5.3 million for the quarter ended March 31, 2026, which is a 17.2% increase compared to $4.5 million for the same period in 2025 . Diluted earnings per share were $0.97 for Q1 2026, up from $0.83 for Q1 2025 . This growth was mainly due to a 19 basis point reduction in the cost of funds and decreased non-interest expense .

Key Performance Indicators (Q1 2026 vs. Q1 2025)

• Return on average assets: Improved to 1.30% from 1.12% .
• Return on average equity: Improved to 11.34% from 11.05% .
• Net interest margin (FTE): Improved to 3.40% from 3.28% .
• Loan-to-deposit ratio: Increased to 86.7% from 86.6% .
• Efficiency ratio (FTE): Improved to 56.6% from 62.4% .

Net Interest Income

Net interest income for the three months ended March 31, 2026, was $12.9 million, an increase of $611 thousand, or 5.0%, compared to the same period in 2025 . This increase was primarily driven by decreased interest expense on deposit accounts and borrowings . The overall cost of funds decreased by 19 basis points to 1.68% from 1.87% in the prior year period . The cost of interest-bearing deposits decreased by 20 basis points to 2.18% from 2.38%, and the cost of FHLB borrowings decreased by 94 basis points to 3.89% from 4.83% . The Bank’s yield on loans was 5.53% for Q1 2026, compared to 5.60% for the prior year .

Noninterest Income

Noninterest income for the three months ended March 31, 2026, decreased by $271 thousand, or 15.4%, compared to the prior year, totaling $1,489 thousand for Q1 2026, down from $1,760 thousand in Q1 2025 . This reduction was mainly due to lower debit/credit card and ATM fees and lower income from asset sales .

Noninterest Expense

Noninterest expense for the three months ended March 31, 2026, decreased by $626 thousand, or 7.1%, compared to the same period in 2025, totaling $8,199 thousand for Q1 2026, down from $8,825 thousand in Q1 2025 . This decrease was largely attributed to lower data processing costs .

Asset Quality

Nonperforming assets as a percentage of total assets improved to 0.36% as of March 31, 2026, from 0.56% as of December 31, 2025 . Nonperforming assets totaled $6.0 million as of March 31, 2026, compared to $9.2 million as of December 31, 2025 . Non-accrual loans were $2.1 million as of March 31, 2026, and loans 90 days or more past due and still accruing interest amounted to $3.8 million . The Allowance for Credit Losses on Loans (ACL) as a percentage of total loans was 0.64% as of March 31, 2026, compared to 0.67% as of December 31, 2025 . The company recorded a net recovery to the provision for credit losses of $336 thousand for the three months ended March 31, 2026 .

Balance Sheet Highlights (as of March 31, 2026)

• Gross loans outstanding: $1.2 billion, a 0.4% decrease ($4.8 million) from March 31, 2025 .
• Securities balances: Declined by $22.5 million from March 31, 2025, to March 31, 2026 .
• Deposit balances held in ICS plans: $187.3 million .
• Outstanding borrowings from FHLB: $20.0 million .
• Unused borrowing facilities: Approximately $225.1 million .
• Total assets: $1,648,164 thousand .
• Total deposits: $1,426,728 thousand .
• Total liabilities: $1,461,667 thousand .
• Total shareholders’ equity: $186,497 thousand .

Capital and Book Value

Book value per share increased to $34.39 as of March 31, 2026, from $30.93 as of March 31, 2025 . Tangible book value per share was $32.51 as of March 31, 2026, compared to $28.84 as of March 31, 2025 . The Tier 1 leverage ratio was 12.70%, and the Total risk-based capital ratio was 20.80% as of March 31, 2026 .

Dividends

On April 22, 2026, the Board of Directors of Virginia National Bankshares Corporation declared a cash dividend of $0.36 per share, payable on May 29, 2026 . This implies an annualized dividend yield of approximately 3.50% . During Q1 2026, cash dividends of $1.9 million, or $0.36 per share, were declared and paid, with 63% of net income retained .

Outlook / Guidance

The provided reference does not contain explicit forward-looking financial guidance or outlook statements from Virginia National Bankshares Corporation regarding future performance or specific targets . The CEO’s comments focused on past performance and ongoing strategies to enhance operating efficiency and maintain strong capital and liquidity positions .