First National Corporation Reports Second Quarter 2026 Financial Performance

Rhea-AI Summary

First National Corporation (NASDAQ: FXNC) reported second quarter 2026 net income of $5.7 million, with basic and diluted EPS of $0.64 and $0.63, up from $0.56 a year earlier and $0.54 in the prior quarter. Return on average assets was 1.11% and return on average equity was 12.03%.

According to the company, tax-equivalent net interest margin rose to 4.15%, with net interest income FTE increasing to $20.1 million, supported by $22.7 million in net loan growth (6.3% annualized). Asset quality remained sound, with non-performing assets at 0.23% of total assets and net charge-offs down to $105 thousand. Total assets reached $2.076 billion, deposits were $1.831 billion, and noninterest-bearing deposits represented 28% of deposits. Tangible book value per share increased to $19.71 and the quarterly dividend was $0.17 per share. All regulatory approvals were received for the pending sale of two North Carolina branches, with closing expected in early fourth quarter 2026, alongside planned consolidation of three additional offices.

Positive

• EPS growth to $0.64 vs $0.56 YoY and $0.54 QoQ
• Net interest margin improved to 4.15% from 3.99% in Q1 2026
• Net interest income FTE up to $20.1 million from $18.8 million
• Non-performing assets at 0.23% of total assets; net charge-offs $105 thousand
• Tangible book value per share rose to $19.71 from $17.40 a year ago
• Dividend of $0.17 per share vs $0.155 in prior-year quarter

Negative

• Total deposits declined $6.2 million (0.3%) sequentially to $1.831 billion
• Non-performing assets increased $292 thousand vs prior quarter to $4.7 million
• Noninterest expense rose $455 thousand QoQ to $16.4 million
• Uninsured deposits totaled $573.8 million, or $466.9 million excluding collateralized municipal balances

News Explained

Approved branch changes remain uncompleted, would transfer most associated accounts, and would reduce offices from 33 to 28; a fourth-quarter gain is anticipated.

First National has received all required regulatory approvals for the sale of two banking offices in North Carolina, but the planned transaction date is October 2026; the sale includes most deposit and loan accounts associated with those offices.

Together with three additional office consolidations and discontinued low-volume ATMs, the actions would reduce the network from 33 to 28 banking offices by year-end.

The company anticipates a one-time gain on the office sale in the fourth quarter of 2026; because the sale remains planned, that gain and the related account transfer have not yet taken effect.

Market Context

Tag-matched history covered five earnings events and averaged -0.6%. That record places this quarter...

Analysis

Tag-matched history covered five earnings events and averaged -0.6%. That record places this quarterly release against mixed prior outcomes; low short positioning is a sourced risk qualifier to monitor.

Key Figures

Net Income: $5.7 million Basic EPS: $0.64 Diluted EPS: $0.63 +5 more

8 metrics

Net Income $5.7 million Second quarter 2026

Basic EPS $0.64 Second quarter 2026, versus $0.56 one year prior

Diluted EPS $0.63 Second quarter 2026

Return on Average Assets 1.11% Second quarter 2026, versus 1.00% one year prior

Return on Average Equity 12.03% Second quarter 2026, versus 11.85% one year prior

Net Interest Margin 4.15% Second quarter 2026, versus 3.95% one year prior

Net Loan Growth $22.7 million Second quarter 2026, 6.3% annualized growth rate

Cash Dividend $0.17 per common share Second quarter 2026

Previous Earnings Reports

5 past events · Latest: Apr 30 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 30	First-quarter earnings	Positive	-4.4%	Quarterly profitability and margin improved, but the stock declined 4.4%.
Oct 30	Third-quarter earnings	Positive	+0.0%	Record quarterly earnings accompanied a 0.04% positive price reaction.
Jul 30	Second-quarter earnings	Positive	+0.2%	Record earnings and improved margin accompanied a 0.23% positive reaction.
Apr 30	First-quarter earnings	Neutral	-4.5%	Merger costs and mixed earnings accompanied a 4.51% price decline.
Feb 06	Fourth-quarter earnings	Negative	+5.6%	A quarterly net loss accompanied a 5.63% positive price reaction.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Tag-matched earnings reactions were mixed, with two positive outcomes and three divergences from the reported results; the provided average move was -0.6%.

Key Terms

net interest margin, fully tax equivalent, non-performing assets, tangible book value per share

4 terms

net interest margin financial

"The net interest margin in excess of four percent combined with expense management"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

fully tax equivalent financial

"the Company’s net interest margin fully tax equivalent ("FTE")(1) was 4.15%"

A fully tax equivalent amount converts income that is exempt from federal (and sometimes state) income tax into the pretax yield that a taxable investment would need to offer to match that after-tax return. It uses an investor’s marginal tax rate as the conversion factor, so investors can compare tax-free and taxable securities on an apples-to-apples basis, much like converting currencies to the same unit before comparing prices.

non-performing assets financial

"Asset quality remained sound with non-performing assets at 0.23% of total assets"

Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.

tangible book value per share financial

"Tangible book value per share(1) grew to $19.71 at June 30, 2026"

Tangible book value per share is the company's total physical and financial assets minus its liabilities and intangible items (like goodwill and brand value), divided by the number of outstanding shares. It gives investors a conservative, per‑share estimate of what would remain if the business sold only its hard assets and paid its debts—useful for judging whether a stock is priced above or below its underlying, tangible worth, like valuing a property by its bricks and cash rather than its reputation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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STRASBURG, Va., July 29, 2026 (GLOBE NEWSWIRE) -- First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the bank holding company of First Bank (the “Bank”), reported consolidated net income of $5.7 million and basic and diluted earnings per common share of $0.64 and $0.63, respectively, for the second quarter ended June 30, 2026. 

"Our quarterly and year-to-date results reflect steady execution of our intentional, profitable growth strategy. Growth in average loan and deposit balances lifted net interest income, and net loans expanded for a second straight quarter as our new and legacy banking teams continue to deepen customer relationships. The net interest margin in excess of four percent combined with expense management and strong asset quality delivered a strong second quarter and first half of the year.  I am also pleased to report that we received all regulatory approvals for the pending sale of our North Carolina branches which we expect to close early in the fourth quarter, continuing our branch optimization initiative announced earlier this year," said Scott C. Harvard, President and Chief Executive Officer of First National Corporation.

FINANCIAL HIGHLIGHTS FOR SECOND QUARTER 2026

	●	Basic earnings per share of $0.64 per share, compared to $0.56 one year prior, and $0.54 in the previous quarter
	●	Adjusted basic earnings per share(1) of $0.64 per share, compared to $0.57 one year prior, and $0.54 in the previous quarter
	●	Return on average assets of 1.11% compared to 1.00% one year prior, and 0.98% in the previous quarter
	●	Return on average equity of 12.03% compared to 11.85% one year prior, and 10.51% in the previous quarter
	●	Tax equivalent net interest margin(1) of 4.15%, up from 3.95% one year prior, and 3.99% in the previous quarter
	●	Net loan growth of $22.7 million for the quarter, a 6.3% annualized growth rate
	●	Asset quality remained sound with non-performing assets at 0.23% of total assets
	●	Noninterest bearing deposits of $520.5 million, or 28% of deposits, contributed to our low funding cost

NET INTEREST INCOME

For the second quarter of 2026, the Company’s net interest margin fully tax equivalent ("FTE")⁽¹⁾ was 4.15%, compared to 3.99% for the first quarter of 2026 and 3.95% in the second quarter of 2025. The Company’s net interest margin (FTE)⁽¹⁾ for the second quarter of 2026 includes the impact of acquisition accounting fair value adjustments. Net accretion income related to acquisition accounting was $245 thousand, a 5-basis point incremental increase to the net interest margin for the second quarter ended June 30, 2026. Prior period acquisition accounting resulted in net accretion income of $211 thousand, or a 4-basis point incremental increase to the net interest margin for the quarter ended March 31, 2026, and net accretion income of $907 thousand, or a 19-basis point incremental increase to the net interest margin for the second quarter ended June 30, 2025.

Earning asset yields for the second quarter of 2026 increased 11-basis points to 5.31% compared to the first quarter of 2026. For the second quarter of 2026, net interest income FTE⁽¹⁾ was $20.1 million, an increase of $1.3 million from $18.8 million in the first quarter of 2026 due to an increase in average interest-earning assets, improved yields, reduced funding costs and average and net loan growth.

The impact of acquisition accretion and amortization is reflected in the following table (dollars in thousands):

		For the Three Months Ended												For the Six Months Ended
		Jun 30, 2026				Mar 31, 2026				Jun 30, 2025				Jun 30, 2026				Jun 30, 2025
Loans		$	334			$	294			$	930			$	628			$	736
Deposits			(14	)			(10	)			163				(24	)			606
Borrowings			(75	)			(73	)			(186	)			(148	)			(471	)
		$	245			$	211			$	907			$	456			$	871

ALLOWANCE AND PROVISION FOR CREDIT LOSSES

The Company recorded a $426 thousand provision for credit losses in the second quarter of 2026, compared to $450 thousand for the first quarter of 2026. The second quarter provision was comprised of a $350 thousand provision for credit losses on loans, a $79 thousand provision for credit losses on unfunded commitments, and a $3 thousand reduction in the credit losses on securities.  Net charge-offs totaled $105 thousand in the second quarter of 2026, compared to net charge-offs of $542 thousand in the first quarter of 2026 and net charge-offs of $448 thousand in the second quarter of 2025.

The allowance for credit losses on loans totaled $14.9 million, or 1.00% of total loans on June 30, 2026, compared to $14.7 million, or 1.00% of total loans on March 31, 2026, and $15.2 million, or 1.05% of total loans on June 30, 2025. The allowance for credit losses to total loans remained consistent with the prior period and decreased from the prior year due to declines in specific reserves on individually analyzed loans. The allowance for credit losses to non-performing assets coverage was 315% on June 30, 2026, compared to 331% on March 31, 2026, and 223% on June 30, 2025. 

NONINTEREST INCOME AND EXPENSE

Noninterest income increased $194 thousand to $4.0 million for the second quarter of 2026 from $3.8 million in the prior quarter. The increase in noninterest income includes increases in ATM and check card income, other operating income, and brokered mortgage fees compared to the prior quarter.

Noninterest expense increased $455 thousand to $16.4 million for the second quarter of 2026 from $16.0 million in the prior quarter. The increase in noninterest expense includes increases in other operating expense, marketing expense, legal and professional fees, supplies expense, and data processing expense.

The sale of two banking offices in Roanoke Rapids and Louisburg, North Carolina, including most of the deposit and loan accounts associated with those offices, has received all required regulatory approvals with a planned transaction date in October 2026. The company anticipates a one-time gain on the sale of the offices in the fourth quarter of 2026.  The Bank also plans to consolidate three additional banking offices and discontinue low volume ATMs at non-branch locations before year-end. The sale and consolidation combined will reduce the number of banking offices from 33 to 28 by year end. The goals of these branch optimization actions are to streamline operations, improve profitability and allocate resources to faster growing markets. 

INCOME TAXES

Income tax expense was $1.4 million for the second quarter of 2026, compared to $1.2 million for the first quarter of 2026. The effective tax rate of 19.5% for the second quarter of 2026 remained consistent with 19.5% in the first quarter of 2026. 

BALANCE SHEET

On June 30, 2026, total assets were $2.076 billion, an increase of $34.2 million or 1.7% from June 30, 2025. Total assets were consistent with the prior quarter with the increase in loan growth offset by the decrease in cash and cash equivalents, and the increase from the prior year was driven by loan growth and additional securities available for sale.

On June 30, 2026, loans held for investment ("LHFI") net of allowance totaled $1.472 billion, an increase of $22.7 million or 3.0% annualized from $1.450 billion on March 31, 2026, and an increase of $44.2 million or 3.1% from June 30, 2025. Net loan growth in the second quarter and for the year has been driven by increased production from newly hired bankers along with our continued focus on relationship banking. 

On June 30, 2026, total investments were $322.8 million, a decrease of $1.7 million or 0.5% from March 31, 2026, and an increase of $23.2 million or 7.7% from June 30, 2025. Available for sale ("AFS") securities totaled $227.8 million on June 30, 2026, and $217.7 million on March 31, 2026, and $187.6 million on June 30, 2025. The increase compared to the prior year was driven by security purchases exceeding portfolio cashflows and utilization of excess cash. Total net unrealized losses on the AFS securities portfolio were $15.8 million on June 30, 2026, compared to $16.2 million on March 31, 2026, and $18.9 million on June 30, 2025. Held to maturity securities are carried at amortized cost and totaled $89.4 million on June 30, 2026, $101.3 million on March 31, 2026, and $106.4 million on June 30, 2025.

On June 30, 2026, total deposits were $1.831 billion, a decrease of $6.2 million or 0.3% from the prior quarter, and an increase of $28.0 million or 1.6% from June 30, 2025. While total deposits as of June 30, 2026 declined when compared to March 31, 2026, average deposit balances for the second quarter were up $49.6 million or 2.7%. Overall, the deposit balances were relatively stable in comparison with the prior quarter and the prior year with increases primarily in savings and interest-bearing demand deposits. There were $25.0 million in other borrowings with the Federal Home Loan Bank on June 30, 2026, March 31, 2026, and June 30, 2025.

LIQUIDITY

Liquidity sources available to the Bank, including interest-bearing deposits in banks, unpledged securities available for sale, at fair value, and available lines of credit totaled $747.8 million on June 30, 2026, $764.2 million on March 31, 2026, and $633.7 million on June 30, 2025.

The Bank maintains liquidity to fund loan growth and to meet potential demand from deposit customers, including potential volatile deposits. The estimated amount of uninsured customer deposits totaled $573.8 million on June 30, 2026, $558.9 million on March 31, 2026, and $545.7 million on June 30, 2025. Excluding municipal deposits that have collateral pledged, the estimated amount of uninsured customer deposits totaled $466.9 million on June 30, 2026, $461.3 million on March 31, 2026, and $451.9 million on June 30, 2025.

ASSET QUALITY

Non-performing assets ("NPAs") increased slightly from the prior period and improved from the prior year as previously reserved loans were charged off since the second quarter of 2025. Management classifies NPAs as non-accrual loans and other real estate owned ("OREO"). The Bank had no OREO on June 30, 2026, March 31, 2026, or June 30, 2025. NPAs as a percentage of total loans were 0.32% on June 30, 2026, up from 0.30% on March 31, 2026, but down from 0.47% on June 30, 2025. NPAs increased by $292 thousand to $4.7 million on June 30, 2026, compared to $4.4 million on March 31, 2026, but decreased by $2.1 million from $6.8 million on June 30, 2025.

There were no loans past due over 90 days or more and still accruing interest on June 30, 2026, March 31, 2026, or June 30, 2025. Loans past-due 30-89 days and still accruing interest decreased to $2.5 million, or 0.17% of total loans on June 30, 2026, compared to $5.0 million, or 0.34% of total loans on March 31, 2026, and $3.2 million, or 0.22%, of total loans on June 30, 2025.  The health care provider portfolio balance continues to decline with $8.6 million in loan balances and $3.4 million in unamortized premiums. The portfolio has loans totaling $1.8 million currently on non-accrual that are specifically reserved for $1.3 million. 

CAPITAL

During the second quarter of 2026, the Company declared and paid cash dividends of $0.17 per common share, compared to $0.17 in the first quarter of 2026 and $0.155 in the second quarter of 2025. Tangible book value per share⁽¹⁾ grew to $19.71 at June 30, 2026, from $19.11 per share at March 31, 2026, and $17.40 at June 30, 2025.

The following table provides capital ratios and values for the periods ended:

First National Corporation (2)	Jun 30, 2026				Mar 31, 2026			Jun 30, 2025
Total risk-based capital ratio		14.81	%		14.64	%		14.89	%
Tier 1 risk-based capital ratio		13.22	%		13.06	%		12.37	%
Common equity Tier 1 capital ratio		12.60	%		12.44	%		11.74	%
Leverage ratio		9.62	%		9.65	%		8.99	%
Tangible common equity to tangible assets (1)		8.65	%		8.39	%		7.73	%
Tangible book value per share (1)	$	19.71		$	19.11		$	17.40
First Bank	Jun 30, 2026			Mar 31, 2026			Jun 30, 2025
Total risk-based capital ratio (3)		13.91	%		13.75	%		12.89	%
Tier 1 risk-based capital ratio (3)		12.87	%		12.73	%		11.81	%
Common equity Tier 1 capital ratio (3)		12.87	%		12.73	%		11.81	%
Leverage ratio (3)		9.44	%		9.38	%		8.56	%
Tangible common equity to tangible assets (1)		8.75	%		8.49	%		7.68	%

ABOUT FIRST NATIONAL CORPORATION

First National Corporation (NASDAQ: FXNC) is the parent company and bank holding company of First Bank, a community bank that first opened for business in 1907 in Strasburg, Virginia. The Bank offers loan and deposit products and services through its bankers, consumer and business mobile banking platforms, a network of ATMs located throughout its market area, a loan production office, a customer service center in a retirement community, and thirty-three banking office locations located throughout the Shenandoah Valley, the Roanoke Valley, the Richmond MSA, the south-central regions of Virginia, and in northern North Carolina. In addition to providing traditional banking services, the Bank operates a wealth management division under the name First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc., which owns an interest in a title insurance company.

NON-GAAP FINANCIAL MEASURES

In addition to financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), the Company uses certain non-GAAP financial measures that provide useful information for financial and operational decision making, evaluating trends, and comparing financial results to other financial institutions. The non-GAAP financial measures presented in this document include adjusted operating net income, adjusted operating non-interest expense, adjusted basic and diluted earnings per share, adjusted return on average assets, adjusted return on average equity, pre-provision pre-tax earnings, adjusted pre-provision pre-tax earnings, fully taxable equivalent interest income, the net interest margin, the efficiency ratio, tangible book value per share, and tangible common equity to tangible assets.

The Company believes certain non-GAAP financial measures enhance the understanding of its business and performance. Non-GAAP financial measures are supplemental and not a substitute for, or more important than, financial measures prepared in accordance with GAAP and may not be comparable to those reported by other financial institutions. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measure is included at the end of this release.

FORWARD-LOOKING STATEMENTS

Certain information contained in this discussion may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to the Company’s plans, objectives, strategies, expectations and intentions, including with respect to pending branch sales and other branch optimization initiatives, and other statements that are not historical facts, and other statements identified by words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” "will," "continue," and “projects,” as well as similar expression. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reliable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that the Company will achieve the anticipated benefits of its plans and strategies or that its actual results, performance, or achievements will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties and speak only as of the date of this release. The Company undertakes no obligations to update or revise any forward-looking statement, except as required by law. For details on factors that could affect expectations, future events, or results, see the risk factors and other cautionary language included in First National Corporation’s Annual Report on Form 10-K for the year ended December 31, 2025 and other filings with the Securities and Exchange Commission (the “SEC”).

CONTACTS

Scott C. Harvard	Brad E. Schwartz
President and CEO	Executive Vice President and CFO
(540) 545-7695	(540) 465-6130
sharvard@fbvirginia.com	bschwartz@fbvirginia.com

FIRST NATIONAL CORPORATION
Performance Summary
(in thousands)
(unaudited)

		For the Three Months Ended												For the Six Months Ended
		Jun 30, 2026				Mar 31, 2026				Jun 30, 2025				Jun 30, 2026				Jun 30, 2025
Income Statement
Interest and dividend income
Interest and fees on loans		$	22,145			$	21,017			$	21,594			$	43,162			$	42,231
Interest on deposits in banks			1,288				1,170				1,891				2,458				3,562
Interest on federal funds sold			—				—				—				—				40
Taxable interest on securities			1,843				1,786				1,313				3,629				2,627
Tax-exempt interest on securities			293				292				298				585				598
Dividends			64				64				69				128				129
Total interest and dividend income		$	25,633			$	24,329			$	25,165			$	49,962			$	49,187
Interest expense
Interest on deposits		$	5,410			$	5,414			$	6,080			$	10,824			$	12,118
Interest on subordinated debt			170				168				468				338				935
Interest on junior subordinated debt			69				66				66				135				132
Interest on other borrowings			3				5				3				8				3
Total interest expense		$	5,652			$	5,653			$	6,617			$	11,305			$	13,188
Net interest income		$	19,981			$	18,676			$	18,548			$	38,657			$	35,999
Provision for credit losses			426				450				911				876				1,743
Net interest income after provision for credit losses		$	19,555			$	18,226			$	17,637			$	37,781			$	34,256
Noninterest income
Service charges on deposit accounts		$	913			$	924			$	1,020			$	1,837			$	2,033
ATM and check card fees			1,155				1,047				1,128				2,202				2,124
Wealth management fees			902				911				867				1,813				1,765
Fees for other customer services			295				287				230				582				488
Brokered mortgage fees			153				115				183				268				293
Income from bank owned life insurance			239				259				231				498				477
Net (loss) gains on securities available for sale			—				8				—				8				—
Net gains on sale of loans held for sale			4				1				—				5				—
Net gain on subordinated debt payoff			—				—				80				—				80
Gain on disposal of premises and equipment			56				—				—				56				—
Other operating income			301				272				150				573				240
Total noninterest income		$	4,018			$	3,824			$	3,889			$	7,842			$	7,500
Noninterest expense
Salaries and employee benefits		$	9,006			$	8,982			$	8,033			$	17,988			$	16,722
Occupancy			974				972				944				1,946				2,013
Equipment			1,131				1,093				1,057				2,224				2,082
Marketing			476				341				286				817				506
Supplies			192				146				198				338				415
Legal and professional fees			742				688				594				1,430				1,115
ATM and check card expense			608				571				537				1,179				976
FDIC assessment			224				227				315				451				729
Bank franchise tax			395				380				348				775				665
Data processing expense			435				394				504				829				1,266
Core deposit intangible amortization expense			433				434				441				867				883
Other real estate owned (income), net			—				—				—				—				(7	)
Net loss on disposal of premises and equipment			—				—				7				—				7
Merger expense			—				—				92				—				2,032
Other operating expense			1,821				1,754				1,835				3,575				4,122
Total noninterest expense		$	16,437			$	15,982			$	15,191			$	32,419			$	33,526
Income before income taxes		$	7,136			$	6,068			$	6,335			$	13,204			$	8,230
Income tax expense			1,393				1,181				1,284				2,574				1,581
Net income		$	5,743			$	4,887			$	5,051			$	10,630			$	6,649

FIRST NATIONAL CORPORATION
Performance Summary
(in thousands, except share and per share data)
(unaudited)

		At or for the Three Months Ended												At or for the Six Months Ended
		Jun 30, 2026				Mar 31, 2026				Jun 30, 2025				Jun 30, 2026				Jun 30, 2025
Common Share and Per Common Share Data
Earnings per common share, basic		$	0.64			$	0.54			$	0.56			$	1.18			$	0.74
Adjusted earnings per common share, basic(1)		$	0.64			$	0.54			$	0.57			$	1.18			$	0.92
Weighted average shares, basic			9,041,314				9,031,591				8,987,179				9,036,479				8,983,374
Earnings per common share, diluted		$	0.63			$	0.54			$	0.56			$	1.17			$	0.74
Adjusted earnings per common share, diluted(1)		$	0.63			$	0.54			$	0.57			$	1.17			$	0.92
Weighted average shares, diluted			9,068,347				9,047,416				9,001,972				9,057,908				9,003,969
Shares outstanding at period end			9,042,629				9,040,967				8,989,138				9,042,629				8,989,138
Tangible book value per share at period end(1)		$	19.71			$	19.11			$	17.40			$	19.71			$	17.40
Market price per share at period end		$	30.02			$	26.92			$	19.47			$	30.02			$	19.47
Cash dividends declared		$	0.170			$	0.170			$	0.155			$	0.340			$	0.310
Key Performance Ratios
Return on average assets(4)			1.11	%			0.98	%			1.00	%			1.05	%			0.66	%
Adjusted return on average assets(1)(4)			1.11	%			0.98	%			1.02	%			1.05	%			0.83	%
Return on average equity(4)			12.03	%			10.51	%			11.85	%			11.27	%			7.90	%
Adjusted return on average equity(1)(4)			12.03	%			10.51	%			12.05	%			11.27	%			9.85	%
Net interest margin(4)			4.13	%			3.98	%			3.93	%			4.05	%			3.84	%
Net interest margin fully tax equivalent(1)(4)			4.15	%			3.99	%			3.95	%			4.07	%			3.86	%
Efficiency ratio(1)			66.59	%			68.86	%			65.27	%			67.69	%			70.20	%
Average Balances
Average assets		$	2,079,467			$	2,026,947			$	2,019,344			$	2,046,074			$	2,020,425
Average earning assets			1,941,385				1,905,400				1,893,133				1,923,459				1,890,749
Average deposits			1,861,554				1,811,967				1,808,340				1,829,354				1,809,644
Average noninterest deposits to total average deposits			29.15	%			27.96	%			29.88	%			28.27	%			29.49	%
Average shareholders’ equity		$	191,465			$	188,585			$	170,920				190,234			$	169,713
Asset Quality
Allowance for credit losses on loans to nonperforming assets			315.45	%			330.66	%			223.45	%			315.45	%			223.45	%
Allowance for credit losses on loans to period end loans			1.00	%			1.00	%			1.05	%			1.00	%			1.05	%
Nonperforming assets to period end loans			0.32	%			0.30	%			0.47	%			0.32	%			0.47	%
Nonperforming assets to total assets			0.23	%			0.21	%			0.33	%			0.23	%			0.33	%
Loan charge-offs		$	266			$	709			$	535			$	975			$	3,025
Loan recoveries			161				167				87				328				176
Net charge-offs			105				542				448				647				2,849
Non-accrual loans			4,737				4,445				6,796				4,737				6,796
Other real estate owned, net			—				—				—				—				—
Nonperforming assets			4,737				4,445				6,796				4,737				6,796
Loans 30 to 89 days past due, accruing			2,534				5,025				3,190				2,534				3,190
Loans over 90 days past due, accruing			—				—				—				—				—
Capital Ratios(5)
Total capital		$	210,436			$	205,509			$	189,115			$	210,436			$	189,115
Tier 1 capital			194,778				190,173				173,240				194,778				173,240
Common equity Tier 1 capital			194,778				190,173				173,240				194,778				173,240
Total capital to risk-weighted assets(3)			13.91	%			13.75	%			12.89	%			13.91	%			12.89	%
Tier 1 capital to risk-weighted assets(3)			12.87	%			12.73	%			11.81	%			12.87	%			11.81	%
Common equity Tier 1 capital / risk-weighted assets(3)			12.87	%			12.73	%			11.81	%			12.87	%			11.81	%
Leverage ratio(3)			9.44	%			9.38	%			8.56	%			9.44	%			8.56	%

FIRST NATIONAL CORPORATION
Performance Summary
(in thousands)
(unaudited)

		For the Period Ended
		Jun 30, 2026				Mar 31, 2026				Dec 31, 2025				Sept 30, 2025				Jun 30, 2025
Balance Sheet
Cash and due from banks		$	23,294			$	22,624			$	20,836			$	23,716			$	34,435
Interest-bearing deposits in banks			142,854				165,185				140,074				165,601				159,880
Cash and cash equivalents		$	166,148			$	187,809			$	160,910			$	189,317			$	194,315
Securities available for sale, at fair value			227,792				217,655				217,538				196,476				187,579
Securities held to maturity, at amortized cost (net of allowance for credit losses)			89,392				101,261				102,872				104,608				106,430
Restricted securities, at cost			5,642				5,642				5,624				4,436				5,624
Loans, net of allowance for credit losses			1,472,455				1,449,708				1,435,026				1,418,750				1,428,251
Premises and equipment, net			34,021				34,327				34,561				34,107				34,530
Accrued interest receivable			6,516				6,656				6,467				6,238				6,143
Bank owned life insurance			39,078				38,837				38,577				38,652				38,367
Goodwill			3,030				3,030				3,030				3,030				3,030
Core deposit intangibles, net			12,352				12,785				13,219				13,661				14,102
Other assets			19,219				18,113				20,154				21,479				23,070
Total assets		$	2,075,645			$	2,075,823			$	2,037,978			$	2,030,754			$	2,041,441
Noninterest-bearing demand deposits		$	520,548			$	524,323			$	509,874			$	511,482			$	541,204
Savings and interest-bearing demand deposits			953,639				953,399				926,579				931,241				900,658
Time deposits			356,943				359,570				363,095				366,860				361,304
Total deposits		$	1,831,130			$	1,837,292			$	1,799,548			$	1,809,583			$	1,803,166
Other borrowings			25,000				25,000				25,000				—				25,000
Subordinated debt, net			8,460				8,385				8,312				21,241				21,148
Junior subordinated debt			9,279				9,279				9,279				9,279				9,279
Accrued interest payable and other liabilities			8,188				7,305				9,643				9,442				9,316
Total liabilities		$	1,882,057			$	1,887,261			$	1,851,782			$	1,849,545			$	1,867,909
Common stock			11,303				11,301				11,282				11,262				11,236
Surplus			78,667				78,400				78,216				78,187				77,578
Retained earnings			116,494				112,288				108,937				104,964				100,810
Accumulated other comprehensive (loss), net			(12,876	)			(13,427	)			(12,239	)			(13,204	)			(16,092	)
Total shareholders’ equity		$	193,588			$	188,562			$	186,196			$	181,209			$	173,532
Total liabilities and shareholders’ equity		$	2,075,645			$	2,075,823			$	2,037,978			$	2,030,754			$	2,041,441
Loan Portfolio
Real estate loans:
Construction and land development		$	113,289			$	97,487			$	88,424			$	78,470			$	78,169
Secured by farmland			10,348				11,554				11,879				12,812				12,514
Secured by 1-4 family residential			522,763				520,821				527,282				533,458				544,577
Other real estate loans			709,772				701,013				685,099				671,723				667,550
Commercial and industrial loans (except those secured by real estate)			113,205				114,517				117,256				117,047				119,910
Consumer installment loans			8,105				8,060				8,419				8,358				8,113
Deposit overdrafts			478				547				543				535				454
All other loans			9,438				10,407				10,843				10,794				12,150
Total loans		$	1,487,398			$	1,464,406			$	1,449,745			$	1,433,197			$	1,443,437
Allowance for credit losses			(14,943	)			(14,698	)			(14,719	)			(14,447	)			(15,186	)
Loans, net		$	1,472,455			$	1,449,708			$	1,435,026			$	1,418,750			$	1,428,251

FIRST NATIONAL CORPORATION
Average Balances, Yields and Rates Paid
(in thousands)

(unaudited)	Three Months Ended
	June 30, 2026										March 31, 2026										June 30, 2025
	Average Balance			Interest Income/ Expense			Yield/ Rate(7)				Average Balance			Interest Income/ Expense			Yield/ Rate(7)				Average Balance			Interest Income/ Expense			Yield/ Rate(7)
Assets
Securities:
Taxable	$	256,750		$	1,843			2.88	%		$	259,592		$	1,786			2.79	%		$	220,100		$	1,313			2.39	%
Tax-exempt(1)		62,353			372			2.39	%			61,705			369			2.43	%			50,871			377			2.98	%
Restricted		4,468			64			5.76	%			4,465			64			5.85	%			4,449			70			6.27	%
Total securities	$	323,571		$	2,279			2.82	%		$	325,762		$	2,219			2.76	%		$	275,420		$	1,760			2.56	%
Loans:
Taxable	$	1,473,064		$	22,103			6.02	%		$	1,446,201		$	20,974			5.88	%		$	1,441,800		$	21,551			6.00	%
Tax-exempt(1)		3,460			54			6.31	%			3,479			54			6.30	%			4,095			54			5.26	%
Total loans	$	1,476,524		$	22,157			6.02	%		$	1,449,680		$	21,028			5.88	%		$	1,445,895		$	21,605			5.99	%
Federal funds sold		1			—			—				38			—			—				1			—			—
Interest-bearing deposits with other institutions		141,289			1,287			3.66	%			129,920			1,170			3.65	%			171,817			1,891			4.41	%
Total earning assets	$	1,941,385		$	25,723			5.31	%		$	1,905,400		$	24,417			5.20	%		$	1,893,133		$	25,256			5.35	%
Less: allowance for credit losses on loans		(15,039	)									(15,039	)									(14,888	)
Total non-earning assets		153,121										136,586										141,099
Total assets	$	2,079,467									$	2,026,947									$	2,019,344
Liabilities and Shareholders’ Equity
Interest bearing deposits:
Checking	$	416,041		$	1,101			1.06	%		$	403,086		$	1,078			1.09	%		$	364,686		$	1,208			1.33	%
Regular savings		212,451			171			0.32	%			211,058			177			0.34	%			212,433			191			0.36	%
Money market accounts		335,904			1,573			1.88	%			330,735			1,492			1.83	%			329,273			1,869			2.28	%
Time deposits		354,558			2,565			2.90	%			360,515			2,667			3.00	%			361,571			2,812			3.12	%
Total interest-bearing deposits	$	1,318,954		$	5,410			1.65	%		$	1,305,394		$	5,414			1.68	%		$	1,267,963		$	6,080			1.92	%
Federal funds purchased		2			—			—				20			—			—				2			—			—
Subordinated debt		8,422			170			8.09	%			8,384			168			8.11	%			21,304			468			8.80	%
Junior subordinated debt		9,279			69			2.96	%			9,279			66			2.91	%			9,279			66			2.86	%
Other borrowings		275			3			3.93	%			556			5			3.93	%			275			3			4.63	%
Total interest-bearing liabilities	$	1,336,932		$	5,652			1.70	%		$	1,323,633		$	5,653			1.73	%		$	1,298,823		$	6,617			2.04	%
Non-interest bearing liabilities
Demand deposits		542,600										506,573										540,377
Other liabilities		8,470										8,156										9,224
Total liabilities	$	1,888,002									$	1,838,362									$	1,848,424
Shareholders’ equity		191,465										188,585										170,920
Total liabilities and Shareholders’ equity	$	2,079,467									$	2,026,947									$	2,019,344
Net interest income(1)				$	20,071									$	18,764									$	18,639
Interest rate spread(1)								3.61	%									3.47	%									3.31	%
Cost of funds								1.21	%									1.25	%									1.44	%
Interest expense as a percent of average earning assets								1.17	%									1.20	%									1.40	%
Net interest margin FTE(1)								4.15	%									3.99	%									3.95	%

FIRST NATIONAL CORPORATION
Average Balances, Yields and Rates Paid
(in thousands)

(unaudited)		Six Months Ended
		June 30, 2026												June 30, 2025
		Average Balance				Interest Income/ Expense				Yield / Rate(7)				Average Balance				Interest Income/ Expense				Yield / Rate(7)
Assets
Securities:
Taxable		$	258,287			$	3,629				2.83	%		$	219,990			$	2,627				2.41	%
Tax-exempt(1)			61,873				741				2.41	%			51,323				757				2.98	%
Restricted			4,467				128				5.80	%			4,311				129				6.04	%
Total securities		$	324,627			$	4,498				2.79	%		$	275,624			$	3,513				2.57	%
Loans:
Taxable		$	1,459,707			$	43,076				5.95	%		$	1,448,191			$	42,127				5.87	%
Tax-exempt(1)			3,470				109				6.31	%			4,445				132				5.99	%
Total loans		$	1,463,177			$	43,185				5.95	%		$	1,452,636			$	42,259				5.87	%
Federal funds sold			19				—				—				1,755				39				4.53	%
Interest-bearing deposits with other institutions			135,636				2,457				3.65	%			160,734				3,562				4.47	%
Total earning assets		$	1,923,459			$	50,140				5.26	%		$	1,890,749			$	49,373				5.27	%
Less: allowance for credit losses on loans			(15,039	)											(15,749	)
Total non-earning assets			137,654												145,425
Total assets		$	2,046,074											$	2,020,425
Liabilities and Shareholders’ Equity
Interest bearing deposits:
Checking		$	409,600			$	2,180				1.07	%		$	366,843			$	2,439				1.34	%
Regular savings			211,759				347				0.33	%			212,513				366				0.35	%
Money market accounts			333,333				3,066				1.85	%			334,261				3,831				2.31	%
Time deposits			357,517				5,231				2.95	%			362,431				5,481				3.05	%
Total interest-bearing deposits		$	1,312,209			$	10,824				1.66	%		$	1,276,048			$	12,117				1.91	%
Federal funds purchased			11				—				—				1				—				—
Subordinated debt			8,460				338				8.04	%			22,500				935				8.38	%
Junior subordinated debt			9,279				135				2.94	%			9,279				132				2.87	%
Other borrowings			414				8				3.93	%			138				3				4.63	%
Total interest-bearing liabilities		$	1,330,373			$	11,305				1.71	%		$	1,307,966			$	13,187				2.03	%
Non-interest bearing liabilities
Demand deposits			517,145												533,596
Other liabilities			8,322												9,150
Total liabilities		$	1,855,840											$	1,850,712
Shareholders’ equity			190,234												169,713
Total liabilities and Shareholders’ equity		$	2,046,074											$	2,020,425
Net interest income(1)						$	38,835											$	36,186
Interest rate spread(1)											3.55	%											3.24	%
Cost of funds											1.23	%											1.44	%
Interest expense as a percent of average earning assets											1.19	%											1.41	%
Net interest margin FTE(1)											4.07	%											3.86	%

FIRST NATIONAL CORPORATION
Non-GAAP Reconciliation
(in thousands, except share and per share data)
(unaudited)

		For the Three Months Ended												For the Six Months Ended
		Jun 30, 2026				Mar 31, 2026				Jun 30, 2025				Jun 30, 2026				Jun 30, 2025
Operating Net Income
Net income (GAAP)		$	5,743			$	4,887			$	5,051			$	10,630			$	6,649
Add: Merger-related expenses			—				—				92				—				2,032
Subtract: Tax effect of adjustment (6)			—				—				(10	)			—				(391	)
Adjusted operating net income (non-GAAP)		$	5,743			$	4,887			$	5,133			$	10,630			$	8,290
Adjusted Earnings Per Share, Basic
Weighted average shares, basic			9,041,314				9,031,591				8,987,179				9,036,479				8,983,374
Basic earnings per share (GAAP)		$	0.64			$	0.54			$	0.56			$	1.18			$	0.74
Adjusted earnings per share, basic (non-GAAP)		$	0.64			$	0.54			$	0.57			$	1.18			$	0.92
Adjusted Earnings Per Share, Diluted
Weighted average shares, diluted			9,068,347				9,047,416				9,001,972				9,057,908				9,003,969
Diluted earnings per share (GAAP)		$	0.63			$	0.54			$	0.56			$	1.17			$	0.74
Adjusted diluted earnings per share (non-GAAP)		$	0.63			$	0.54			$	0.57			$	1.17			$	0.92
Adjusted Pre-Provision, Pre-Tax Earnings
Net interest income		$	19,981			$	18,676			$	18,548			$	38,657			$	35,999
Total noninterest income			4,018				3,824				3,889				7,842				7,500
Net revenue		$	23,999			$	22,500			$	22,437			$	46,499			$	43,499
Total noninterest expense			16,437				15,982				15,191				32,419				33,526
Pre-provision, pre-tax earnings (non-GAAP)		$	7,562			$	6,518			$	7,246			$	14,080			$	9,973
Add: Merger expenses			—				—				92				—				2,032
Adjusted pre-provision, pre-tax earnings (non-GAAP)		$	7,562			$	6,518			$	7,338			$	14,080			$	12,005
Adjusted Performance Ratios
Average assets		$	2,079,467			$	2,026,947			$	2,019,344			$	2,046,074			$	2,020,425
Return on average assets (GAAP)			1.11	%			0.98	%			1.00	%			1.05	%			0.66	%
Adjusted return on average assets (non-GAAP)			1.11	%			0.98	%			1.02	%			1.05	%			0.83	%
Average shareholders’ equity		$	191,465			$	188,585			$	170,920			$	190,234			$	169,713
Return on average equity (GAAP)			12.03	%			10.51	%			11.85	%			11.27	%			7.90	%
Adjusted return on average equity (non-GAAP)			12.03	%			10.51	%			12.05	%			11.27	%			9.85	%
Net Interest Margin
Net interest income		$	19,981			$	18,676			$	18,548			$	38,657			$	35,999
Tax-equivalent net interest income (non-GAAP)			20,071				18,764				18,639				38,835				36,186
Average earning assets			1,941,385				1,905,400				1,893,133				1,923,459				1,890,749
Net interest margin			4.13	%			3.98	%			3.93	%			4.05	%			3.84	%
Net interest margin fully tax equivalent (non-GAAP)			4.15	%			3.99	%			3.95	%			4.07	%			3.86	%

FIRST NATIONAL CORPORATION
Non-GAAP Reconciliation
(in thousands)

(unaudited)		For the Three Months Ended												For the Six Months Ended
		Jun 30, 2026				Mar 31, 2026				Jun 30, 2025				Jun 30, 2026				Jun 30, 2025
Adjusted Operating Noninterest Expense
Total noninterest expense (GAAP)		$	16,437			$	15,982			$	15,191			$	32,419			$	33,526
Subtract: merger expenses			—				—				(92	)			—				(2,032	)
Subtract: amortization expense			(433	)			(434	)			(441	)			(867	)			(883	)
Adjusted operating noninterest expense (non-GAAP)		$	16,004			$	15,548			$	14,658			$	31,552			$	30,611
Efficiency Ratio
Total noninterest expense (GAAP)		$	16,437			$	15,982			$	15,191			$	32,419			$	33,526
Add: other real estate owned income, net			—				—				—				—				7
Subtract: amortization of intangibles			(433	)			(434	)			(441	)			(867	)			(883	)
Add/Subtract: (loss) on disposal of premises and equipment, net			—				—				(7	)			—				(7	)
Subtract: merger expenses			—				—				(92	)			—				(2,032	)
Adjusted operating non-interest expense (non-GAAP)		$	16,004			$	15,548			$	14,651			$	31,552			$	30,611
Tax-equivalent net interest income (non-GAAP)		$	20,071			$	18,764			$	18,639			$	38,835			$	36,186
Total noninterest income (GAAP)			4,018				3,824				3,889				7,842				7,500
Subtract: (gain) on disposal of premises and equipment			(56	)			—				—				(56	)			—
Subtract: net (gain) on subordinated debt payoff			—				—				(80	)			—				(80	)
Subtract: securities (gains), net			—				(8	)			—				(8	)			—
Adjusted income for efficiency ratio (non-GAAP)		$	24,033			$	22,580			$	22,448			$	46,613			$	43,606
Efficiency ratio (non-GAAP)			66.59	%			68.86	%			65.27	%			67.69	%			70.20	%

FIRST NATIONAL CORPORATION
Non-GAAP Reconciliation
(in thousands, except share and per share data)

(unaudited)
		For the Three Months Ended												For the Six Months Ended
		Jun 30, 2026				Mar 31, 2026				Jun 30, 2025				Jun 30, 2026				Jun 30, 2025
Tax-Equivalent Net Interest Income
GAAP measures:
Interest income – loans		$	22,145			$	21,017			$	21,594			$	43,162			$	42,231
Interest income – investments and other			3,488				3,312				3,571				6,800				6,956
Interest expense – deposits			(5,410	)			(5,414	)			(6,080	)			(10,824	)			(12,118	)
Interest expense – subordinated debt			(170	)			(168	)			(468	)			(338	)			(935	)
Interest expense – junior subordinated debt			(69	)			(66	)			(66	)			(135	)			(132	)
Interest expense – other borrowings			(3	)			(5	)			(3	)			(8	)			(3	)
Net interest income		$	19,981			$	18,676			$	18,548			$	38,657			$	35,999
Non-GAAP measures:
Add: Tax benefit realized on non-taxable interest income – loans(6)		$	12			$	11			$	12			$	23			$	28
Add: Tax benefit realized on non-taxable interest income – municipal securities(6)			78				77				79				155				159
Tax benefit realized on non-taxable interest income		$	90			$	88			$	91			$	178			$	187
Tax-equivalent net interest income (non-GAAP)		$	20,071			$	18,764			$	18,639			$	38,835			$	36,186
Tangible Common Equity and Tangible Assets
Total assets (GAAP)		$	2,075,645			$	2,075,823			$	2,041,441			$	2,075,645			$	2,041,441
Subtract: goodwill			(3,030	)			(3,030	)			(3,030	)			(3,030	)			(3,030	)
Subtract: core deposit intangibles, net			(12,352	)			(12,785	)			(14,102	)			(12,352	)			(14,102	)
Tangible assets (Non-GAAP)		$	2,060,263			$	2,060,008			$	2,024,309			$	2,060,263			$	2,024,309
Total shareholders’ equity (GAAP)		$	193,588			$	188,562			$	173,532			$	193,588			$	173,532
Subtract: goodwill			(3,030	)			(3,030	)			(3,030	)			(3,030	)			(3,030	)
Subtract: core deposit intangibles, net			(12,352	)			(12,785	)			(14,102	)			(12,352	)			(14,102	)
Tangible common equity (Non-GAAP)		$	178,206			$	172,747			$	156,400			$	178,206			$	156,400
Tangible common equity to tangible assets ratio (non-GAAP)			8.65	%			8.39	%			7.73	%			8.65	%			7.73	%
Tangible Book Value Per Share
Tangible common equity (non-GAAP)		$	178,206			$	172,747			$	156,400			$	178,206			$	156,400
Common shares outstanding, ending			9,042,629				9,040,967				8,989,138				9,042,629				8,989,138
Tangible book value per share (non-GAAP)		$	19.71			$	19.11			$	17.40			$	19.71			$	17.40

⁽¹⁾ Non-GAAP financial measure. See “Non-GAAP Financial Measures” and “Non-GAAP Reconciliation” tables for additional information and detailed calculations of adjustments.

⁽²⁾ The Company is a small bank holding company under applicable regulations and guidance and is not subject to the minimum regulatory capital regulations for bank holding companies. The regulatory requirements that apply to bank holding companies that are subject to regulatory capital requirements are presented below, along with the Company's capital ratios as determined under those regulations.

⁽³⁾ All ratios on June 30, 2026, are estimates and subject to change pending the Bank's filing of its Call Report. All other periods are presented as filed.

⁽⁴⁾ Ratios are annualized. 

⁽⁵⁾ Capital ratios presented are for First Bank.

⁽⁶⁾ The tax rate utilized in calculating the tax benefit is 21%

⁽⁷⁾ Yields and interest income are presented on a taxable-equivalent basis using the federal statutory tax rate of 21%

FAQ

How did First National (NASDAQ: FXNC) perform financially in Q2 2026?

First National reported Q2 2026 net income of $5.7 million and basic EPS of $0.64. According to the company, returns were 1.11% on average assets and 12.03% on average equity, supported by higher net interest income and stable asset quality metrics.

What was First National (FXNC) earnings per share trend in Q2 2026?

Basic EPS for Q2 2026 was $0.64, up from $0.56 a year earlier and $0.54 in Q1 2026. According to the company, adjusted basic EPS was also $0.64, reflecting stronger profitability on higher net interest income and controlled credit costs.

What was the net interest margin for First National (FXNC) in Q2 2026?

First National’s tax-equivalent net interest margin was 4.15% in Q2 2026, compared with 3.99% in Q1 2026 and 3.95% a year earlier. According to the company, higher earning asset yields, loan growth and reduced funding costs supported this margin expansion.

How strong were First National (FXNC) asset quality metrics in Q2 2026?

Non-performing assets were 0.23% of total assets and net charge-offs were $105 thousand in Q2 2026. According to the company, NPAs were $4.7 million and the allowance for credit losses on loans was 1.00% of total loans, with 315% coverage of NPAs.

What branch optimization actions is First National (FXNC) taking in 2026?

First National has received regulatory approvals to sell two North Carolina branches, targeting an October 2026 close. According to the company, it also plans to consolidate three additional offices and remove low-volume ATMs, reducing locations from 33 to 28 by year-end.

How did loans and deposits change for First National (FXNC) by June 30, 2026?

Loans held for investment reached $1.472 billion, up $22.7 million from March 31, 2026 and $44.2 million year-over-year. According to the company, total deposits were $1.831 billion, down 0.3% sequentially but up 1.6% compared with June 30, 2025.

What dividend and book value did First National (FXNC) report for Q2 2026?

First National declared a $0.17 per share cash dividend in Q2 2026, versus $0.155 a year earlier. According to the company, tangible book value per share increased to $19.71, up from $19.11 in Q1 2026 and $17.40 at June 30, 2025.