Quarterly ResultMay 13, 2026, 04:07 PM

First National Corp Q1 Net Income +205.8% to $4.89M; EPS $0.54

AI Summary

First National Corp reported a significant increase in net income for Q1 2026, rising 205.8% year-over-year to $4.89 million, with diluted EPS reaching $0.54. This growth was supported by a 7.0% increase in net interest income and a 12.8% reduction in noninterest expenses, partly due to the absence of merger-related costs incurred in the prior year. The company also saw a 2.1% sequential increase in total deposits and a 1.0% rise in net loans.

Key Highlights

Net income for Q1 2026 increased 205.8% to $4.89 million from $1.60 million in Q1 2025.
Diluted earnings per common share rose 200% to $0.54 in Q1 2026 from $0.18 in Q1 2025.
Net interest income grew 7.0% to $18.68 million in Q1 2026 from $17.45 million in Q1 2025.
Total noninterest expense decreased 12.8% to $15.98 million in Q1 2026 from $18.34 million in Q1 2025.
Total deposits increased 2.1% sequentially to $1.84 billion as of March 31, 2026.
Net loans increased 1.0% sequentially to $1.45 billion as of March 31, 2026.
Provision for credit losses decreased 45.9% to $0.45 million in Q1 2026 from $0.83 million in Q1 2025.
Cash dividends paid on common stock increased to $0.17 per share in Q1 2026 from $0.155 in Q1 2025.

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FXNC

Major Banks

FIRST NATIONAL CORP /VA/

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