First National Corporation (FXNC) reported consolidated net income of $6.9 million and basic and diluted earnings per common share of $0.76 for the three months ended September 30, 2026. Third-quarter 2025 net income was $5.55 million, and basic and diluted earnings per share were $0.62. For the nine months ended September 30, 2026, net income was $17.5 million, with basic EPS of $1.94 and diluted EPS of $1.93.
The fully tax-equivalent net interest margin was 4.38%, versus 3.84% a year earlier; $867,000 of acquisition-accounting net accretion added 18 basis points to the quarter’s margin. Net loan growth was $13.6 million in the quarter. Non-performing assets were 0.26% of total assets on September 30, 2026, while the allowance for credit losses on loans was $14.4 million, or 0.96% of total loans. In early October, First National completed the sale of two North Carolina banking offices, including most associated deposit and loan accounts, and anticipates a one-time gain in fourth-quarter 2026. The sale and third-quarter consolidation of three offices will reduce banking offices from 33 to 28 by year-end.
First National Corporation (FXNC) received an amended Schedule 13G from Fourthstone LLC and affiliated funds, updating their ownership disclosure. Fourthstone, a registered investment adviser, reports holding 100 shares of First National common stock on behalf of advisory clients, representing 0.00% of the 9,040,967 shares outstanding as of May 7, 2026. The filing is made jointly by Fourthstone LLC, Fourthstone Master Opportunity Fund Ltd., Fourthstone QP Opportunity Fund LP, Fourthstone Small-Cap Financials Fund LP, Fourthstone GP LLC, and L. Phillip Stone IV, who may be deemed to beneficially own certain shares through their roles. The group states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of First National, and that they now own 5% or less of the class.
FIRST NATIONAL CORP /VA/ director William Michael Funk reported an acquisition of 1,113 shares of common stock on 2026-08-12. The shares were received as a grant or award at a reported price of $0.00 per share, bringing his directly held position to 19,783 shares of common stock.
FIRST NATIONAL CORP /VA/ director Boyce E. Brannock reported a stock-based award of 1,113 shares of Common Stock on 2026-08-12, recorded as a grant or other acquisition at $0.00 per share. Following this award, Brannock directly holds 9,711 shares and, according to a note, owns an additional 110 indirect shares.
FIRST NATIONAL CORP /VA/ director Kirtesh Patel received an equity award of common stock. On August 12, 2026, Patel acquired 1,113 shares of Common Stock, $1.25 par value, through a grant or award at a reported price of $0.00 per share, increasing his directly held stake to 33,724 shares.
Smith Gerald F JR reported acquisition or exercise transactions in this Form 4 filing.
First National Corp (FXNC) director Gerald F. Smith Jr. received a grant of 1,113 shares of common stock on 2026-08-12 at $0.00 per share, bringing his directly held stake to 42,768 shares. In addition, he reports indirect holdings through several family trusts, where he or his spouse serves as trustee or co-trustee. For one irrevocable trust holding 900 shares for his daughter, he expressly disclaims beneficial ownership.
First National Corp (FXNC) director James R. Wilkins III reported a grant or award acquisition of 1,113 shares of Common Stock, $1.25 par value, on 2026-08-12 at a stated price of $0.00 per share, bringing his directly held shares to 303,462.
He also reports indirect ownership positions, including 105,668 shares by Wilkins Investments LP, 9,987 by JRWIV Holdings LLC, 11,662 by GSW Holdings LLC, 7,820 by IBW Holdings LLC, 9,369 by LTW Holdings LLC, and 1,631 held by his spouse.
FIRST NATIONAL CORP /VA/ director Norman D. Wagstaff Jr reported a compensatory stock transaction in common shares. On 2026-08-12, he received 1,113 shares of common stock, $1.25 par value, as a grant or award acquisition at a stated price of $0.00 per share. Following this transaction, his direct holdings in the company’s common stock increased to 100,452 shares.
Wilkinson William Simmons reported acquisition or exercise transactions in this Form 4 filing.
First National Corp (FXNC) director William Simmons Wilkinson reported a grant of 1,113 shares of common stock on August 12, 2026, at a stated price of $0.00 per share, increasing his directly held position to 22,977 shares. He also reports 759 shares held indirectly through Circle W Farms LLC.
First National Corp /VA/ director Toni T Lee-Andrews reported an acquisition of 1,113 shares of Common Stock, $1.25 par value, identified as a grant or award transaction. The shares were acquired at a reported price of $0.00 per share, bringing the director’s direct holdings to 6,761.0659 shares after the transaction on 2026-08-12.