Welcome to our dedicated page for Virginia Natl Bankshares news (Ticker: VABK), a resource for investors and traders seeking the latest updates and insights on Virginia Natl Bankshares stock.
Virginia National Bankshares Corp (VABK) maintains this comprehensive news hub for stakeholders tracking developments in community banking and financial services. Our curated collection features official press releases, regulatory filings, and market analyses related to this Virginia-based institution.
Investors will find timely updates on quarterly earnings, capital management strategies, and leadership changes. The archive includes detailed information about commercial lending initiatives, trust service expansions, and community reinvestment programs that demonstrate VABK's regional commitment.
All content undergoes verification against primary sources including SEC filings and corporate communications. The chronological organization allows users to track strategic decisions through acquisition announcements, financial results, and operational milestones since the company's establishment.
Bookmark this page for direct access to VABK's evolving financial narrative, including updates on deposit services, wealth management offerings, and regulatory compliance matters. Check regularly for new developments that reflect the company's position in the competitive Mid-Atlantic banking sector.
Virginia National Bankshares Corporation (NASDAQ: VABK) reported significant growth in Q1 2023, achieving net income of $5.8 million or $1.08 per diluted share, up 18% from $4.9 million or $0.92 in Q1 2022. The return on average assets (ROAA) increased to 1.48% from 1.03% year-over-year, while return on average equity (ROAE) rose to 17.57% from 12.53%. The efficiency ratio improved to 56.2% compared to 62.0% last year. Nonperforming assets decreased to 0.08% of total assets, reflecting strong credit quality. However, noninterest income fell 52% due to a prior year one-time payment. Cash dividends declared were $1.8 million, or $0.33 per share.
Virginia National Bankshares Corporation (NASDAQ: VABK) declared a quarterly cash dividend of $0.33 per share on February 22, 2023, marking a 10% increase from the previous dividend. The dividend is set for payment on March 24, 2023, to shareholders of record by March 10, 2023. This increase reflects the company's commitment to returning capital after achieving record results in 2022 and aligns with its two-year anniversary of the merger with Fauquier Bankshares, slated for April 1, 2023. At a closing price of $10.00 on February 23, 2023, the annual yield stands at approximately 3.33%.
Virginia National Bankshares Corporation (NASDAQ: VABK) reported a record net income of $7.1 million, or $1.32 per diluted share, for Q4 2022, a 35% increase from $5.2 million in Q4 2021. For the full year, net income reached $23.4 million, or $4.38 per diluted share, up from $10.1 million in 2021. Key metrics include a return on average assets of 1.30% and a return on average equity of 22.23% for Q4 2022. Despite a 12% decline in loans outstanding, net interest income increased by 24% to $15.4 million. The Company declared dividends of $1.6 million for the quarter.
Virginia National Bankshares Corporation (NASDAQ: VABK) declared a cash dividend of $0.30 per share on December 7, 2022. The dividend is set for payment on December 30, 2022, to shareholders of record as of December 20, 2022. This represents an annual yield of approximately 3.42% based on the stock's closing price on the declaration date. The company operates several banking offices in Virginia, providing a range of financial services, including investment management through its subsidiaries.
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