First Natl Corp SEC Filings

First National Corporation reported results of its Annual Meeting, a dividend declaration, and board leadership changes. Shareholders elected twelve directors and ratified Yount, Hyde & Barbour, P.C. as independent registered public accounting firm with 6,773,790 votes for, 26,530 against, and 1,435 abstentions.

The board declared a quarterly cash dividend of $0.17 per common share, payable on June 12, 2026 to shareholders of record on May 29, 2026. Following the retirement of longtime chair Elizabeth Cottrell, the board elected Gerald F. Smith, Jr. as Chair and James R. Wilkins, III as Vice Chair, continuing a planned governance succession process.

First National Corporation reported sharply higher quarterly profitability. For the three months ended March 31, 2026, net income rose to $4.9 million from $1.6 million a year earlier, and diluted earnings per share increased to $0.54 from $0.18.

Net interest income improved to $18.7 million as interest expense on deposits and subordinated debt declined, while the provision for credit losses fell to $0.45 million from $0.83 million. Noninterest expense dropped to $16.0 million, reflecting the absence of prior-year merger costs.

Total assets reached $2.08 billion and deposits grew to $1.84 billion, with loans net of allowance at $1.45 billion. Shareholders’ equity edged up to $188.6 million, although accumulated other comprehensive loss deepened due to unrealized losses on the securities portfolio.

First National Corporation furnished an investor presentation given at its Annual Meeting of Shareholders as an exhibit to a current report. The presentation, attached as Exhibit 99.1, includes financial and other information discussed by management at the meeting.

The company states this information is being furnished under Regulation FD and is not deemed filed under the Exchange Act or incorporated into other securities law filings unless specifically referenced. The report also includes customary cautionary language about forward-looking statements and notes the company has no obligation to update those statements after the report date.

First National Corp President & CEO Scott C. Harvard reported a bona fide gift of company stock. On May 5, 2026, he transferred 675 shares of First National Corp common stock as a gift, with no sale proceeds.

After this disposition, he directly holds 71,565 shares of common stock. A gift transaction is a transfer without payment and is not an open-market purchase or sale, so it mainly updates his reported holdings rather than signaling a trading decision.

First National Corporation reported strong first quarter 2026 results. Net income rose to $4.9 million, with basic and diluted earnings per share of $0.54 for the quarter ended March 31, 2026, up sharply from $0.18 a year earlier.

Profitability improved, with return on average assets at 0.98% and return on average equity at 10.51%. The fully tax-equivalent net interest margin expanded to 3.99%, supported by disciplined funding costs and acquisition-related accretion. Asset quality remained solid as nonperforming assets fell to 0.21% of total assets and coverage ratios increased.

Balance sheet growth was modest but healthy. Net loans increased by $14.7 million, a 4.0% annualized pace, while deposits grew $37.7 million, or 8.4% annualized, driven by lower-cost deposit categories. Tangible book value per share increased to $19.11, and regulatory capital ratios at both the holding company and bank stayed comfortably above required levels.

First National Corporation is asking shareholders to vote at its 2026 Annual Meeting on May 13, 2026 in Strasburg, Virginia. Shareholders will elect twelve directors to one-year terms and consider ratifying Yount, Hyde & Barbour, P.C. as independent registered public accounting firm for 2026.

The proxy outlines internet-based voting procedures, quorum rules, broker nonvote treatment, and how proxies may be revoked. It details Board structure, committee responsibilities, director independence, and risk oversight practices. Executive and director compensation, equity incentive plans, and potential payments upon termination or change in control for senior leaders are summarized, along with stock ownership by insiders and a significant 9.85% holder.

First National Corporation, the Virginia-based holding company for First Bank, files its annual report outlining its community banking business, regulatory framework, and risk profile. The company serves individuals and small to mid-sized businesses through 33 branches, a loan production office, and digital channels across Virginia and northern North Carolina.

The report highlights that net interest income is the primary revenue source, supplemented by fees from wealth management and mortgage activities. As of December 31, 2025, First Bank’s regulatory capital ratios significantly exceed “well capitalized” thresholds, and it employed 308 full-time equivalent staff. Extensive risk factors cover credit quality, commercial real estate exposure, interest rate sensitivity, liquidity, technology and cybersecurity, AI-related risks, regulatory burdens, and economic and competitive pressures.

First National Corp EVP-CFO Brad E Schwartz bought 1,000 shares of common stock in an open-market purchase at $26.91 per share. After this transaction, he directly owns 6,470 shares of First National Corp common stock.