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 Corporation (NASDAQ: VABK) is a Charlottesville, Virginia-based bank holding company for Virginia National Bank, operating in the commercial banking industry. Company news and press releases focus on its banking operations across Fauquier and Prince William counties, Charlottesville and Albemarle County, and the cities of Winchester and Richmond, Virginia, where the Bank serves individuals, businesses and charitable organizations.
News coverage for VABK commonly centers on quarterly and annual earnings announcements. These releases detail net income, net interest income, net interest margin on a fully tax-equivalent basis, efficiency ratio, loan growth, deposit trends, nonperforming assets and the allowance for credit losses. Management commentary in these reports often discusses credit quality metrics, capital and liquidity positions, and the impact of government-guaranteed loans on the company’s allowance for credit losses.
Another recurring theme in Virginia National Bankshares Corporation news is dividend activity. The company frequently issues press releases and related Form 8-K filings announcing quarterly cash dividends on its common stock, including the per-share amount, record date, payment date and implied dividend yield based on the stock price at declaration.
Investors following VABK news will also see updates on strategic and corporate developments, such as inclusion in the Russell 2000 index, share repurchase activity, and governance and leadership matters. For example, the company has reported a planned leadership transition involving the retirement of its Chief Financial Officer and the appointment of a new Executive Vice President and Chief Financial Officer, as well as the results of its Annual Meeting of Shareholders, director elections and changes to its stock incentive plan.
This news page aggregates these types of disclosures so readers can review Virginia National Bankshares Corporation’s reported financial performance, dividend decisions and key corporate events in one place.
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.
Virginia National Bankshares Corporation (NASDAQ: VABK) announced a quarterly cash dividend of $0.30 per share, payable on September 24, 2021, to shareholders on record as of September 10, 2021. This dividend represents an annual yield of approximately 3.23% based on the stock's closing price on August 30, 2021. The Company operates through its banking offices in Virginia, offering a range of financial services, including investment management and fiduciary services.
Virginia National Bankshares Corporation (NASDAQ: VABK) reported a net income of $147 thousand, or $0.03 per diluted share, for Q2 2021, representing a 93% decline from $2.1 million, or $0.77 per diluted share, in Q2 2020. This decrease is attributed to $5.9 million in merger expenses. If excluding these costs, net income would have been $0.89 per diluted share. Despite challenges, gross loans grew by 84% year-over-year, totaling $1.2 billion, bolstered by the acquisition of Fauquier Bankshares.
The efficiency ratio worsened to 99.1% due to merger-related costs, while book value per share rose to $29.89. Cash dividends totaled $1.6 million.
Virginia National Bankshares Corporation (NASDAQ: VABK) declared a quarterly cash dividend of $0.30 per share, payable on June 25, 2021, to shareholders of record as of June 11, 2021. This dividend yields approximately 3.68% based on the stock's closing price on May 27, 2021. The Company operates through Virginia National Bank and expanded its presence after merging with The Fauquier Bank on April 1, 2021. The Bank provides a full range of financial services, including fiduciary services and investment management.
Virginia National Bankshares Corporation (NASDAQ: VABK) reported a net income of $1.5 million, or $0.55 per diluted share for Q1 2021, marking a 7.2% increase year-over-year. The company incurred $278 thousand in merger-related expenses as it completed the acquisition of Fauquier Bankshares on April 1, 2021. Gross loans rose 12.1% to $621.1 million, propelled by $36.2 million in PPP loans. Noninterest income fell 37.8% to $1.04 million, while cash dividends totaled $814 thousand, indicating a solid foundation for future growth.
Virginia National Bankshares Corporation (OTCQX: VABK) has completed its merger with Fauquier Bankshares, Inc. as of April 1, 2021. This merger results in approximately $1.7 billion in total assets and $1.5 billion in total deposits for Virginia National. Shareholders of Fauquier receive 0.6750 shares of Virginia National for each Fauquier share. Virginia National's stock will begin trading on the Nasdaq Capital Market on April 5, 2021. The merger aims to enhance customer service, profitability, and shareholder value.