Virginia National Bankshares Corp
For the period ended Mar 31, 2024. Filed May 15, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
VABK$53.37+1.1%Stored close · as of Nov 9, 2026
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Consolidated Balance Sheets (unaudited)
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except per share data)
| March 31, 2024 | December 31, 2023 * | |
|---|---|---|
| ASSETS · Unaudited | ||
| Cash and due from banks | $7,158 | $18,074 |
| Interest-bearing deposits in other banks | 10,639 | 10,316 |
| Federal funds sold | 27,696 | - |
| Securities: | ||
| Available for sale, at fair value | 341,857 | 420,595 |
| Restricted securities, at cost | 6,192 | 8,385 |
| Total securities | 348,049 | 428,980 |
| Loans, net of deferred fees and costs | 1,128,168 | 1,092,665 |
| Allowance for credit losses | (8,289) | (8,395) |
| Loans, net | 1,119,879 | 1,084,270 |
| Premises and equipment, net | 15,860 | 16,195 |
| Bank owned life insurance | 39,179 | 38,904 |
| Goodwill | 7,768 | 7,768 |
| Core deposit intangible, net | 4,750 | 5,093 |
| Right of use asset, net | 6,652 | 6,748 |
| Deferred tax asset, net | 15,744 | 15,382 |
| Accrued interest receivable and other assets | 16,122 | 14,287 |
| Total assets | $1,619,496 | $1,646,017 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Liabilities: | ||
| Demand deposits: | ||
| Noninterest bearing | $382,315 | $372,857 |
| Interest bearing | 284,789 | 305,541 |
| Money market and savings deposit accounts | 415,311 | 412,119 |
| Certificates of deposit and other time deposits | 349,557 | 318,581 |
| Total deposits | 1,431,972 | 1,409,098 |
| Federal funds purchased | - | 3,462 |
| Borrowings | 20,000 | 66,500 |
| Junior subordinated debt | 3,471 | 3,459 |
| Lease liability | 6,451 | 6,504 |
| Accrued interest payable and other liabilities | 5,025 | 3,954 |
| Total liabilities | 1,466,919 | 1,492,977 |
| Commitments and contingent liabilities | ||
| Shareholders' equity: | ||
| Preferred stock, $2.50 par value | - | - |
| Common stock, $2.50 par value | 13,277 | 13,258 |
| Capital surplus | 106,195 | 106,045 |
| Retained earnings | 75,657 | 73,781 |
| Accumulated other comprehensive loss | (42,552) | (40,044) |
| Total shareholders' equity | 152,577 | 153,040 |
| Total liabilities and shareholders' equity | $1,619,496 | $1,646,017 |
| Common shares outstanding | 5,390,388 | 5,365,982 |
| Common shares authorized | 10,000,000 | 10,000,000 |
| Preferred shares outstanding | - | - |
| Preferred shares authorized | 2,000,000 | 2,000,000 |
- Derived from audited Consolidated Financial Statements
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