Welcome to our dedicated page for Virginia National Bankshares Corporation news (Ticker: VABK), a resource for investors and traders seeking the latest updates and insights on Virginia National Bankshares Corporation stock.
Virginia National Bankshares Corp, headquartered in Charlottesville, Virginia, was established in July 1998 with over 900 local shareholders. As a community bank, it offers a wide range of banking and financial services, including checking accounts, money market deposit accounts, and certificates of deposit. The bank focuses on commercial and retail banking, providing loans, deposit services, and more to individuals, businesses, and charitable organizations.
The company's segments include the Bank, VNB Trust and Estate Services, Sturman Wealth Advisors, and Masonry Capital. Virginia National Bankshares emphasizes exceptional service, recognizing that people are at the core of their success. With a commitment to customers and the community, the bank has maintained strong credit quality metrics and record returns on average assets.
Virginia National Bankshares Corporation (NASDAQ: VABK) declared a quarterly cash dividend of $0.30 per share on May 25, 2022, with a payment date of June 24, 2022. Shareholders of record as of June 10, 2022 will receive this dividend, reflecting an annual yield of approximately 3.68% based on the stock's closing price on the declaration date. The Bank operates multiple offices in Virginia, providing various banking and financial services, including investment advisory through partnerships.
Virginia National Bankshares Corporation (NASDAQ: VABK) reported a net income of $4.9 million for Q1 2022, up 227% from $1.5 million in Q1 2021. The net income per diluted share increased to $0.92 from $0.55 year-over-year. Gross loans rose to $1.0 billion, a 62% increase, primarily due to the merger with Fauquier Bankshares. However, noninterest expenses grew by 111% to $10.1 million from the prior year, influenced by the Fauquier acquisition. The company also declared cash dividends amounting to $1.6 million.
Virginia National Bankshares Corporation (NASDAQ: VABK) has announced a quarterly cash dividend of $0.30 per share, set for payment on March 25, 2022. Shareholders on record as of March 11, 2022 will qualify for this dividend, which offers an annual yield of approximately 3.43% based on the stock's closing price from March 2, 2022.
Virginia National Bankshares Corporation (NASDAQ: VABK) reported record net income of $10.0 million for the year ended December 31, 2021, a 25% increase from $8.0 million in 2020, despite incurring $7.4 million in merger-related expenses. Net income for Q4 2021 was $5.2 million, doubling from $2.6 million in Q4 2020. The merger with Fauquier Bank contributed to a 74% increase in gross loans, totaling $1.1 billion. However, net income per diluted share declined to $2.13 from $2.95 due to the increase in shares from the merger.
Virginia National Bankshares has appointed Diane E. Corscadden-Weaver as the new president of Virginia National Bank. With over three decades of experience in commercial lending, she previously served as senior VP at Atlantic Union Bank. Corscadden-Weaver will report to CEO Glenn Rust and aims to expand the bank's market reach while maintaining community-focused services. The bank operates multiple branches across Virginia, offering a range of financial services. VABK trades on the Nasdaq Capital Market.
Virginia National Bankshares Corporation (NASDAQ: VABK) declared a quarterly cash dividend of $0.30 per share on December 9, 2021. The dividend will be paid on December 31, 2021 to shareholders on record as of December 20, 2021. This dividend represents an annual yield of approximately 3.44% based on the closing stock price on December 13, 2021, indicating a stable return for investors.
Virginia National Bankshares Corporation (NASDAQ: VABK) reported a net income of $3.1 million, or $0.59 per diluted share, for Q3 2021, marking a 68% increase from Q3 2020's $1.9 million. Excluding merger costs, net income would have been $4.6 million ($0.86 per share). The return on average assets (ROAA) was 0.65%, down from 0.89% in the previous year, due mainly to merger expenses. Gross loans rose by 83% to $1.1 billion, supported by the acquisition of Fauquier Bankshares. Noninterest income increased by 144%, but noninterest expenses surged 160% due to merger costs.
Virginia National Bankshares Corporation (NASDAQ: VABK) announced a quarterly cash dividend of $0.30 per share, payable on September 24, 2021, to shareholders on record as of September 10, 2021. This dividend represents an annual yield of approximately 3.23% based on the stock's closing price on August 30, 2021. The Company operates through its banking offices in Virginia, offering a range of financial services, including investment management and fiduciary services.
Virginia National Bankshares Corporation (NASDAQ: VABK) reported a net income of $147 thousand, or $0.03 per diluted share, for Q2 2021, representing a 93% decline from $2.1 million, or $0.77 per diluted share, in Q2 2020. This decrease is attributed to $5.9 million in merger expenses. If excluding these costs, net income would have been $0.89 per diluted share. Despite challenges, gross loans grew by 84% year-over-year, totaling $1.2 billion, bolstered by the acquisition of Fauquier Bankshares.
The efficiency ratio worsened to 99.1% due to merger-related costs, while book value per share rose to $29.89. Cash dividends totaled $1.6 million.
Virginia National Bankshares Corporation (NASDAQ: VABK) declared a quarterly cash dividend of $0.30 per share, payable on June 25, 2021, to shareholders of record as of June 11, 2021. This dividend yields approximately 3.68% based on the stock's closing price on May 27, 2021. The Company operates through Virginia National Bank and expanded its presence after merging with The Fauquier Bank on April 1, 2021. The Bank provides a full range of financial services, including fiduciary services and investment management.
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