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 a net income of $5.8 million or $1.08 per diluted share for Q3 2022, marking an 84% increase from $3.1 million or $0.59 per diluted share in Q3 2021. Year-to-date, net income climbed to $16.4 million from $4.8 million. Key metrics include ROAA rising to 1.30% and ROAE improving to 16.50%. Despite a 15% drop in gross loans outstanding, the company maintains strong credit performance with nonperforming assets at 0.08%. Cash dividends declared were $1.6 million.
Virginia National Bankshares Corporation (NASDAQ: VABK) reported a notable net income of $5.7 million, or $1.06 per diluted share, for Q2 2022, marking a significant increase from $147 thousand in Q2 2021. For the first half of 2022, net income reached $10.6 million, up from $1.6 million the previous year. The efficiency ratio improved to 58.3%, and return on average assets rose to 1.27%. However, gross loans decreased by 18% to $960 million, primarily due to the forgiveness of SBA PPP loans and paydowns. Cash dividends declared were $1.6 million.
Virginia National Bankshares Corporation (NASDAQ: VABK) declared a quarterly cash dividend of $0.30 per share on July 27, 2022. This dividend will be paid on September 23, 2022, to shareholders of record as of September 9, 2022. The dividend represents an annual yield of approximately 3.75%, based on the stock's closing price on July 28, 2022.
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.
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