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AIKENS JASON C reported acquisition or exercise transactions in this Form 4 filing.
FIRST NATIONAL CORP /VA/ director Jason C. Aikens received a grant of 1,113 shares of Common Stock on 2026-08-12 in a compensation-related award (no cash price stated, shown at $0.0000 per share). Following this grant, he holds 11,407.2402 shares directly and, per a footnote, an additional 15,798.1859 indirect shares.
First National Corp. (FXNC) director George Edwin Holt III reported a grant or award acquisition of 1,113 shares of Common Stock on 2026-08-12 at a stated price of $0.00 per share. After this award, he holds 45,446.6809 shares directly and, per a footnote, an additional 6,596 shares indirectly.
First National Corporation reported solid midyear results, with total assets of $2.08 billion at June 30, 2026, up from $2.04 billion at year-end 2025. Loans grew to $1.49 billion, while deposits increased to $1.83 billion, maintaining a deposit-funded balance sheet.
For the six months ended June 30, 2026, net income rose to $10.63 million from $6.65 million a year earlier, and diluted EPS increased to $1.17 from $0.74. Net interest income improved to $38.66 million, supported by lower deposit interest expense, and noninterest expense declined year over year. Asset quality remained stable, with nonaccrual loans of $4.74 million and an allowance for credit losses on loans of $14.94 million.
The securities portfolio totaled $310.16 million in fair value, with all investments considered investment grade and a weighted-average repricing term of about 4.3 years. Operating cash flow strengthened to $13.34 million, while the company returned capital through $3.07 million in common dividends and modest share repurchases.
First National Corporation reported that its Board of Directors declared a quarterly cash dividend of $0.17 per common share on August 12, 2026. The dividend is payable on September 11, 2026 to shareholders of record as of August 28, 2026. The company’s common stock, with a par value of $1.25 per share, trades on The Nasdaq Stock Market LLC under the symbol FXNC.
First National Corporation reported second quarter 2026 net income of $5.7 million, with basic and diluted EPS of $0.64 and $0.63, respectively. Return on average assets was 1.11% and return on average equity 12.03%. The fully tax-equivalent net interest margin improved to 4.15% from 3.95% in the prior-year quarter as tax-equivalent net interest income reached $20.1 million, supported by higher earning-asset yields, stable funding costs and $22.7 million of net loan growth.
Total assets were $2.076 billion and loans held for investment were $1.472 billion at June 30, 2026. Asset quality remained strong: nonperforming assets were 0.23% of total assets and 0.32% of loans, with net charge-offs of $105 thousand and an allowance equal to 1.00% of loans, covering nonperforming assets 315%. Total deposits were $1.831 billion, including $520.5 million of noninterest-bearing balances. Available liquidity sources totaled $747.8 million, and estimated uninsured customer deposits were $573.8 million (or $466.9 million excluding collateralized municipal balances).
Capital levels stayed robust, with a total risk-based capital ratio of 14.81% at the holding company and a tangible common equity to tangible assets ratio of 8.65%. Tangible book value per share increased to $19.71, while the quarterly cash dividend was $0.17 per share. The company received all regulatory approvals to sell two North Carolina branches, expects a one-time gain from that transaction in the fourth quarter of 2026, and plans to consolidate three additional offices, reducing its network from 33 to 28 locations as part of a branch optimization initiative.
BlackRock, Inc. reported beneficial ownership of common stock of FIRST NATIONAL CORP. As of June 30, 2026, BlackRock beneficially owned 507,103 shares of First National Corp common stock, representing 5.6% of the class.
BlackRock reported sole voting power over 500,715 shares and sole dispositive power over 507,103 shares, with no shared voting or dispositive power. Various underlying clients have rights to dividends or sale proceeds, but no single client holds more than five percent of the outstanding common shares.
First National Corporation ownership disclosure: Fourthstone LLC and related reporting persons report beneficial ownership of 774,119 shares of Common Stock, representing 8.56% of the class based on 9,040,967 shares outstanding as of March 16, 2026. The filing states these shares were acquired in the ordinary course by Fourthstone as an investment adviser and are not held to influence control.
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.