NASDAQ : FXNC
First National Corporation — Financial statements
Financials · Banks - Regional · United States
Last price 30.93 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 280.14M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 88.17M | 85.17M | 63.48M | 49.29M | 41.72M | 32.80M |
| Interest Income on Investments | 13.94M | 14.32M | 12.84M | 8.43M | 7.67M | 4.35M |
| Total Interest Income | 102.11M | 99.50M | 76.32M | 57.72M | 49.40M | 37.14M |
| Interest Paid on Deposits | 22.22M | 24.29M | 20.96M | 13.66M | 3.27M | 1.42M |
| Interest Paid on Borrowings | 1.07M | 1.96M | 2.90M | 646.00K | 547.00K | 889.00K |
| Total Interest Expense | 23.29M | 26.25M | 23.87M | 14.31M | 3.82M | 2.30M |
| Net Interest Income | 78.81M | 73.25M | 52.45M | 43.41M | 45.58M | 34.84M |
| Trust Income | 3.76M | 3.61M | 3.62M | 3.12M | 3.01M | 2.71M |
| Gain (Loss) on Sale of Assets | 28.00K | -48.00K | -29.00K | 15.00K | ||
| Gain (Loss) on Sale of Investments | 8.00K | -115.00K | 233.00K | 881.00K | 37.00K | |
| Other Non-Interest Income | 9.37M | 9.06M | 6.84M | 5.65M | 6.08M | 5.34M |
| Total Non-Interest Income | 16.93M | 16.63M | 13.41M | 11.78M | 12.62M | 10.19M |
| Revenues Before Loan Losses | 95.74M | 89.88M | 65.86M | 55.20M | 58.20M | 45.03M |
| Provision for Loan Losses | 1.83M | 2.89M | 7.85M | 6.15M | 1.85M | -650.00K |
| Revenue | 93.92M | 86.99M | 58.01M | 49.05M | 56.35M | 45.68M |
| Salaries and Employee Benefits | 34.60M | 32.48M | 24.50M | 20.29M | 19.92M | 17.44M |
| Federal Deposit Insurance | 963.00K | 1.29M | 860.00K | 633.00K | 463.00K | 346.00K |
| Amortization of Goodwill & Intangibles | 1.74M | 1.77M | 461.00K | 18.00K | 19.00K | 28.00K |
| Selling, General & Administrative | 16.36M | 16.19M | 11.26M | 9.46M | 9.05M | 9.99M |
| Other Non-Interest Expense | 11.22M | 11.56M | 7.68M | 7.04M | 6.25M | 4.91M |
| Total Non-Interest Expense | 65.10M | 63.27M | 44.78M | 37.24M | 35.60M | 32.73M |
| EBT Excluding Unusual Items | 28.82M | 23.72M | 13.23M | 11.80M | 20.75M | 12.95M |
| Other Unusual Items | 384.00K | 2.92M | ||||
| Pretax Income | 28.69M | 21.94M | 8.05M | 11.80M | 20.75M | 12.95M |
| Income Tax Expense | 5.66M | 4.24M | 1.08M | 2.18M | 3.95M | 2.59M |
| Net Income | 23.03M | 17.70M | 6.97M | 9.62M | 16.80M | 10.36M |
| Net Income to Common | 23.03M | 17.70M | 6.97M | 9.62M | 16.80M | 10.36M |
| Basic Shares Outstanding | 9.03M | 8.99M | 6.96M | 6.27M | 6.25M | 5.55M |
| Diluted Shares Outstanding | 9.06M | 9.02M | 6.97M | 6.28M | 6.26M | 5.56M |
| EPS (Basic) | 2.55 | 1.97 | 1.00 | 1.54 | 2.69 | 1.87 |
| EPS (Diluted) | 2.54 | 1.96 | 1.00 | 1.53 | 2.68 | 1.86 |
| Dividend Per Share | 0.68 | 0.64 | 0.60 | 0.60 | 0.56 | 0.48 |
| Effective Tax Rate | 19.72% | 19.33% | 13.44% | 18.48% | 19.05% | 19.98% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 167.58M | 160.91M | 162.87M | 87.16M | 66.91M | 176.01M |
| Investment Securities | 301.18M | 322.81M | 275.99M | 301.74M | 316.66M | 323.44M |
| Trading Asset Securities | 2.29M | 2.69M | 2.49M | 2.68M | 941.00K | |
| Total Investments | 301.18M | 325.10M | 278.68M | 304.23M | 319.34M | 324.38M |
| Gross Loans | 1.50B | 1.45B | 1.47B | 970.53M | 921.36M | 829.02M |
| Allowance for Loan Losses | -14.41M | -14.72M | -16.40M | -11.97M | -7.45M | -5.71M |
| Other Adjustments to Gross Loans | -1.70M | -1.30M | -1.10M | -838.00K | -3.90M | |
| Net Loans | 1.49B | 1.44B | 1.45B | 957.46M | 913.08M | 819.41M |
| Property, Plant & Equipment | 33.16M | 36.35M | 36.83M | 22.47M | 22.41M | 22.69M |
| Goodwill | 3.03M | 3.03M | 3.03M | 3.03M | 3.03M | 3.03M |
| Other Intangible Assets | 11.92M | 13.22M | 14.99M | 117.00K | 136.00K | 154.00K |
| Loans Held for Sale | 262.00K | 409.00K | ||||
| Accrued Interest Receivable | 6.73M | 6.47M | 6.02M | 4.66M | 4.54M | 3.90M |
| Other Real Estate Owned & Foreclosed | 747.00K | 53.00K | 184.00K | 1.85M | ||
| Other Long-Term Assets | 64.44M | 55.26M | 55.74M | 39.21M | 38.95M | 37.31M |
| Total Assets | 2.07B | 2.04B | 2.01B | 1.42B | 1.37B | 1.39B |
| Interest Bearing Deposits | 1.31B | 1.21B | 1.23B | 825.72M | 795.19M | 816.26M |
| Institutional Deposits | 75.20M | 57.50M | 28.80M | 18.80M | 19.30M | |
| Non-Interest Bearing Deposits | 520.06M | 509.87M | 520.15M | 379.21M | 427.34M | 413.19M |
| Total Deposits | 1.83B | 1.80B | 1.80B | 1.23B | 1.24B | 1.25B |
| Current Portion of Leases | 675.00K | |||||
| Accrued Interest Payable | 7.75M | 1.56M | 964.00K | 764.00K | 163.00K | 152.00K |
| Long-Term Debt | 8.54M | 33.31M | 21.18M | 55.00M | 5.00M | 9.99M |
| Long-Term Leases | 1.17M | 2.02M | 330.00K | 537.00K | 284.00K | |
| Trust Preferred Securities | 9.28M | 9.28M | 9.28M | 9.28M | 9.28M | 9.28M |
| Other Long-Term Liabilities | 6.24M | 6.53M | 3.93M | 4.72M | 3.94M | |
| Total Liabilities | 1.88B | 1.85B | 1.84B | 1.30B | 1.26B | 1.27B |
| Common Stock | 11.32M | 11.28M | 11.22M | 7.83M | 7.83M | 7.79M |
| Additional Paid-In Capital | 79.28M | 78.22M | 77.06M | 32.95M | 32.72M | 31.97M |
| Retained Earnings | 121.85M | 108.94M | 96.95M | 94.20M | 90.28M | 76.99M |
| Comprehensive Income & Other | -16.91M | -12.24M | -18.69M | -18.71M | -22.47M | 298.00K |
| Shareholders' Equity | 195.55M | 186.20M | 166.53M | 116.27M | 108.36M | 117.04M |
| Total Liabilities & Equity | 2.07B | 2.04B | 2.01B | 1.42B | 1.37B | 1.39B |
| Total Debt | 42.82M | 44.43M | 32.48M | 64.61M | 14.81M | 19.56M |
| Net Cash (Debt) | 124.76M | 118.77M | 133.09M | 25.04M | 54.78M | 157.39M |
| Net Cash Per Share | 13.77 | 13.17 | 19.09 | 3.99 | 8.75 | 28.31 |
| Filing Date Shares Outstanding | 9.06M | 9.04M | 8.99M | 6.28M | 6.28M | 6.25M |
| Total Common Shares Outstanding | 9.06M | 9.03M | 8.97M | 6.26M | 6.26M | 6.23M |
| Book Value Per Share | 21.59 | 20.63 | 18.56 | 18.56 | 17.30 | 18.79 |
| Tangible Book Value | 180.60M | 169.95M | 148.51M | 113.12M | 105.19M | 113.86M |
| Tangible Book Value Per Share | 19.94 | 18.83 | 16.55 | 18.06 | 16.79 | 18.28 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 17.70M | 6.97M | 9.62M | 16.80M | 10.36M | |
| Depreciation & Amortization | 4.52M | 2.40M | 1.62M | 1.51M | 1.41M | |
| Other Amortization | 636.00K | 2.00K | 2.00K | 2.00K | 2.00K | |
| Gain (Loss) on Sale of Assets | -20.00K | 48.00K | -280.00K | -147.00K | -23.00K | |
| Gain (Loss) on Sale of Investments | 807.00K | 986.00K | 932.00K | 3.16M | 1.04M | |
| Total Asset Writedown | 13.00K | 139.00K | ||||
| Provision for Credit Losses | 2.76M | 7.79M | 5.92M | 1.85M | -650.00K | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 409.00K | 270.00K | ||||
| Accrued Interest Receivable | -410.00K | 467.00K | -112.00K | -640.00K | 545.00K | |
| Change in Other Net Operating Assets | -582.00K | 2.51M | 188.00K | 4.92M | -1.71M | |
| Other Operating Activities | -2.77M | -5.44M | -1.45M | -2.15M | -2.79M | |
| Operating Cash Flow | 25.11M | -22.20M | 16.39M | 26.77M | 7.87M | |
| Capital Expenditures | -4.18M | -3.30M | -1.87M | -1.18M | -835.00K | |
| Sale of Property, Plant and Equipment | 1.70M | 18.00K | 50.00K | 32.00K | ||
| Cash Acquisitions | 70.24M | -44.34M | ||||
| Investment in Securities | -39.06M | 88.51M | 18.86M | -26.85M | -161.84M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | 13.51M | -20.87M | -51.89M | -94.39M | 80.14M | |
| Other Investing Activities | -1.38M | 2.23M | 86.00K | 265.00K | 245.00K | |
| Investing Cash Flow | -29.41M | 136.83M | -34.34M | -120.14M | -126.30M | |
| Long-Term Debt Issued | 25.00M | 50.00M | ||||
| Long-Term Debt Repaid | -13.42M | -50.00M | -5.00M | |||
| Total Debt Repaid | -13.42M | -50.00M | -5.00M | |||
| Net Debt Issued (Repaid) | 11.58M | -50.00M | 50.00M | -5.00M | ||
| Repurchase of Common Stock | -154.00K | -106.00K | -682.00K | -183.00K | -39.00K | |
| Common Dividends Paid | -5.52M | -4.04M | -3.60M | -3.31M | -2.50M | |
| Total Dividends Paid | -5.52M | -4.04M | -3.60M | -3.31M | -2.50M | |
| Net Increase (Decrease) in Deposit Accounts | -3.57M | 15.23M | -7.52M | -7.23M | 169.69M | |
| Financing Cash Flow | 2.34M | -38.91M | 38.20M | -15.72M | 167.15M | |
| Net Cash Flow | -1.96M | 75.71M | 20.25M | -109.09M | 48.71M | |
| Free Cash Flow | 20.93M | -25.50M | 14.52M | 25.59M | 7.03M | |
| Free Cash Flow Margin | 24.06% | -43.96% | 29.61% | 45.42% | 15.40% | |
| Free Cash Flow Per Share | 2.32 | -3.66 | 2.31 | 4.09 | 1.26 | |
| Cash Interest Paid | 27.37M | 23.20M | 9.36M | 4.00M | 2.46M | |
| Cash Income Tax Paid | 3.40M | 2.08M | 3.43M | 3.37M | 2.02M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 275.88M | 227.43M | 206.41M | 136.18M | 107.27M | 143.22M |
| Last Close Price | 30.46 | 24.79 | 21.99 | 20.11 | 15.30 | 19.94 |
| PE Ratio | 11.99 | 12.85 | 29.63 | 14.15 | 6.39 | 13.82 |
| PS Ratio | 2.94 | 2.61 | 3.56 | 2.78 | 1.90 | 3.13 |
| PB Ratio | 1.41 | 1.22 | 1.24 | 1.17 | 0.99 | 1.22 |
| P/FCF Ratio | 10.53 | 10.87 | 9.38 | 4.19 | 20.36 | |
| P/OCF Ratio | 9.13 | 9.06 | 8.31 | 4.01 | 18.20 | |
| Debt / Equity Ratio | 0.22 | 0.24 | 0.20 | 0.56 | 0.14 | 0.17 |
| Debt / FCF Ratio | 2.12 | 4.45 | 0.58 | 2.78 | ||
| Net Debt / Equity Ratio | -0.64 | -0.64 | -0.80 | -0.21 | -0.51 | -1.34 |
| Net Debt / FCF Ratio | -5.67 | 5.22 | -1.72 | -2.14 | -22.38 | |
| Return on Equity (ROE) | 12.23% | 10.04% | 4.93% | 8.57% | 14.90% | 10.26% |
| Return on Assets (ROA) | 1.12% | 0.88% | 0.41% | 0.69% | 1.22% | 0.89% |
| Earnings Yield | 8.34% | 7.78% | 3.38% | 7.07% | 15.66% | 7.23% |
| FCF Yield | 9.49% | 9.20% | -12.36% | 10.67% | 23.86% | 4.91% |
| Dividend Yield | 2.23% | 2.52% | 2.63% | 2.76% | 3.27% | 2.09% |
| Payout Ratio | 26.77% | 31.18% | 57.97% | 37.36% | 19.69% | 24.18% |
| Buyback Yield / Dilution | -0.53% | -29.33% | -11.02% | -0.32% | -12.60% | -13.91% |
| Total Shareholder Return | 1.70% | -26.81% | -8.39% | 2.44% | -9.33% | -11.82% |