Welcome to our dedicated page for First Natl news (Ticker: FXNC), a resource for investors and traders seeking the latest updates and insights on First Natl stock.
First National Corporation reports recurring developments as the bank holding company of First Bank, a community bank offering loans, deposit products, mobile banking, ATM access and wealth management services. Company news commonly covers quarterly and annual earnings, net interest income, loan and deposit trends, asset quality, liquidity, capital levels and noninterest income.
Updates also include cash dividend actions, market and branch-network activity, banker additions in Virginia markets, integration of the completed Touchstone acquisition and activity within First Bank Wealth Management and related financial services operations.
First National Corporation (NASDAQ: FXNC) reported consolidated net income of $4.9 million and diluted EPS of $0.54 for Q1 2026. Return on average assets was 0.98% and return on average equity was 10.51%. Net interest margin (FTE) was 3.99%. Loans grew by $14.7 million and deposits grew by $37.7 million for the quarter. Noninterest income fell to $3.8 million, and NPAs declined to 0.21% of total assets. Tangible book value per share rose to $19.11.
First National Corporation (NASDAQ: FXNC) announced a branch optimization plan to sell two standalone banking offices in North Carolina and consolidate three Virginia offices into nearby locations, reducing total banking offices from 33 to 28.
The transactions are expected to close in the second half of 2026 after regulatory approvals, customer notifications and vendor conversion availability. The Bank says there will be no layoffs and affected employees will be offered roles with buyers or within the Bank. A one-time gain on the two office sales is expected and will be partially offset by consolidation costs.
First National Corporation (NASDAQ: FXNC) reported record fourth quarter and full-year 2025 results. Consolidated net income was $5.5 million in Q4 2025 with basic and diluted EPS of $0.61. For the year, consolidated earnings were $17.7 million and basic EPS was $1.97 (adjusted operating earnings $19.1 million, adjusted basic EPS $2.13).
Key metrics: Q4 net interest margin (FTE) 3.95%, loan growth of $16.3 million in Q4, nonperforming assets at 0.32% of loans, total assets $2.039 billion, total deposits $1.800 billion, and tangible book value per share $18.83. Quarterly dividend rose to $0.17.
First National Corporation (NASDAQ: FXNC) announced a 9.7% increase in its quarterly cash dividend to $0.17 per share, for shareholders of record on November 28, 2025, payable on December 12, 2025.
The increase rises from the prior quarterly dividend of $0.155 and follows the company’s statement that it has raised its annual cash dividend payout every year for the past ten years.
First National Corporation (NASDAQ: FXNC) reported record third quarter 2025 results for the quarter ended September 30, 2025, with net earnings of $5.55 million and basic/diluted EPS of $0.62 (up 11% sequentially and 72% year-over-year). Key balance sheet moves include net loans held for investment $1.419 billion (+44.5% YoY) and total deposits $1.810 billion (+44.4% YoY), driven by the Touchstone acquisition. Return on average assets was 1.09% and return on average equity was 12.43%. Net interest margin (FTE) was 3.84% (includes acquisition accounting); net interest income was $18.3 million. Noninterest income rose to $4.5 million including a $304 thousand bargain purchase gain. Assets totaled $2.031 billion and NPAs improved to 0.28% of total assets.
First National Corporation (NASDAQ: FXNC) reported record second quarter 2025 earnings of $5.05 million, with earnings per share of $0.56, marking a 211% increase from the previous period and 44% year-over-year growth. The company's performance was bolstered by its recently completed Touchstone franchise acquisition.
Key highlights include a net interest margin of 3.95%, up from 3.40% year-over-year, and an improved efficiency ratio of 65.11%. Net loans held for investment reached $1.428 billion, up 46.1% from the previous year, while total deposits grew to $1.803 billion, a 42.5% increase. The company maintained strong asset quality with nonperforming assets at 0.33% of total assets.
The bank's capital position remained robust with a total capital ratio of 14.89% and declared a quarterly cash dividend of $0.155 per common share.
First National Corporation (NASDAQ: FXNC) has appointed Chris Layne as Senior Vice President and Regional Market Executive for Richmond at its subsidiary First Bank. Layne brings over 20 years of commercial banking experience and will oversee business banking and development in the Richmond market.
A U.S. Air Force veteran, Layne holds an MBA from Averett University and is a graduate of the ABA Stonier Graduate School of Banking at The Wharton School. He currently serves on the Board of Directors of ChamberRVA and chairs the Board of Trustees for St. Joseph's Villa. He will report to Joe Shearin, President of the Greater Richmond Market, which includes Southside Virginia and northern North Carolina.
First National Corporation reported first quarter 2025 earnings of $1.52 million with earnings per share of $0.18. Adjusted earnings excluding acquisition items were $3.1 million ($0.35 per share).
Key highlights include:
- Total assets reached $2.033 billion, up 40.5% year-over-year
- Net loans grew to $1.436 billion, increasing 49.5%
- Total deposits rose to $1.825 billion, up 44.9%
- Net interest margin improved to 3.77% from 3.24% last year
The company completed its Touchstone operational merger in Q1 2025, incurring $1.9 million in merger costs. Asset quality improved with nonperforming assets decreasing to 0.24% of total assets. The bank maintained strong liquidity with available sources totaling $800.2 million and declared a quarterly cash dividend of $0.155 per share.
First National (NASDAQ: FXNC) has announced the appointment of Brad E. Schwartz as Executive Vice President and Chief Financial Officer, effective March 31, 2025. Schwartz brings over 40 years of banking experience in Virginia, including roles as President and COO of TowneBank and CEO, CFO, and COO of Monarch Bank.
At First National, Schwartz will join the executive team alongside Dennis Dysart (EVP and COO) and Scott Harvard (President and CEO). His responsibilities will include overseeing financial planning, strategy, budgeting, investor relations, accounting operations, and regulatory filings.
The appointment comes at a strategic time for First Bank, which has completed three acquisitions in the past decade. First Bank operates thirty-three branch offices across Virginia and northern North Carolina, offering traditional banking services, wealth management, and title insurance services through its subsidiaries.
First National (NASDAQ: FXNC) has announced the appointment of Joe Shearin as President of Greater Richmond Market for First Bank. Shearin, who brings over 40 years of banking experience, will lead the bank's strategic efforts across Richmond, Southside Virginia, and northern North Carolina following the 2024 merger with Touchstone Bank.
As former President and CEO of Sonabank, Shearin successfully grew the bank from $500 million to over $3.4 billion in assets. Currently serving as Executive Director of the Small Business Financing Authority (VSBFA) and Founder/CEO of Jamescrest Consulting Group, he will focus on community impact and business development in First Bank's expanded footprint.