FIRST NATIONAL CORP /VA/
For the period ended Jun 30, 2026. Filed Aug 13, 2026.
View on SEC.govAbout this filing
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.
Jun 30, 2026 · Filed Aug 13, 2026
FXNC$30.42+0.2%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
| Page | ||
|---|---|---|
| PART I – FINANCIAL INFORMATION | ||
| Item 1. · Financial Statements | ||
| Consolidated Balance Sheets as of June 30, 2026 (unaudited) and December 31, 2025 | 3 | |
| Consolidated Statements of Income for the three and six months ended June 30, 2026 and 2025 (unaudited) | 4 | |
| Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2026 and 2025 (unaudited) | 6 | |
| Consolidated Statements of Cash Flows for the six months ended June 30, 2026 and 2025 (unaudited) | 7 | |
| Consolidated Statements of Changes in Shareholders’ Equity for the three and six months ended June 30, 2026 and 2025 (unaudited) | 9 | |
| Notes to Consolidated Financial Statements (unaudited) | 11 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 38 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 50 |
| Item 4. | Controls and Procedures | 50 |
| PART II – OTHER INFORMATION | ||
| Item 1. | Legal Proceedings | 51 |
| Item 1A. | Risk Factors | 51 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 52 |
| Item 3. | Defaults Upon Senior Securities | 52 |
| Item 4. | Mine Safety Disclosures | 52 |
| Item 5. | Other Information | 52 |
| Item 6. | Exhibits | 52 |
PART I – FINANCIAL INFORMATION
Item 1. Financial Statements
Consolidated Balance Sheets
| (unaudited) | ||
|---|---|---|
| June 30, | December 31, | |
| 2026 | 2025* | |
| Assets | ||
| Cash and due from banks | $23,294 | $20,836 |
| Interest-bearing deposits in banks | 142,854 | 140,074 |
| Cash and cash equivalents | $166,148 | $160,910 |
| Securities available for sale, at fair value | 227,792 | 217,538 |
| Securities held to maturity, at amortized cost (net of allowance for credit losses, 2026, $65; 2025, $83) | 89,392 | 102,872 |
| Restricted securities, at cost | 5,642 | 5,624 |
| Loans, net of allowance for credit losses, 2026, $14,943; 2025, $14,719 | 1,472,455 | 1,435,026 |
| Premises and equipment, net | 34,021 | 34,561 |
| Accrued interest receivable | 6,517 | 6,467 |
| Bank owned life insurance | 39,077 | 38,577 |
| Goodwill | 3,030 | 3,030 |
| Core deposit intangibles, net | 12,352 | 13,219 |
| Other assets | 19,219 | 20,154 |
| Total assets | $2,075,645 | $2,037,978 |
| Liabilities and Shareholders’ Equity | ||
| Liabilities | ||
| Deposits: | ||
| Noninterest-bearing demand deposits | $520,548 | $509,874 |
| Savings and interest-bearing demand deposits | 953,639 | 926,579 |
| Time deposits | 356,943 | 363,095 |
| Total deposits | $1,831,130 | $1,799,548 |
| Other borrowings | 25,000 | 25,000 |
| Subordinated debt, net of issuance cost | 8,460 | 8,312 |
| Junior subordinated debt | 9,279 | 9,279 |
| Accrued interest payable and other liabilities | 8,188 | 9,643 |
| Total liabilities | $1,882,057 | $1,851,782 |
| Commitments and contingencies | ||
| Shareholders’ Equity | ||
| Preferred stock, par value $1.25 per share; authorized 1,000,000 shares; none issued and outstanding | $— | $— |
| Common stock, par value $1.25 per share; authorized 16,000,000 shares; issued and outstanding, 2026, 9,042,629 shares; 2025, 9,025,395 shares | 11,303 | 11,282 |
| Surplus | 78,667 | 78,216 |
| Retained earnings | 116,494 | 108,937 |
| Accumulated other comprehensive loss, net | (12,876) | (12,239) |
| Total shareholders’ equity | $193,588 | $186,196 |
| Total liabilities and shareholders’ equity | $2,075,645 | $2,037,978 |
*Derived from audited consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.