First National Corp (OQ:FXNC)

Business Focus: Commercial Banks

Sector:  Financials Industry:  Banks
 
See Regulatory Filings on SEC
Company Contact
Address: 112 W King St
STRASBURG VA 22657
Tel: N/A
Website: https://www.fncadvisor.com
IR: See website
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Key People
Scott C. Harvard
President, Chief Executive Officer, Director of the Company and Bank
Michael Shane Bell
Chief Financial Officer, Executive Vice President of the Company and the Bank
Dennis A. Dysart
President , Chief Operating Officer of the Bank
Business Overview
First National Corporation is a bank holding company for First Bank (the Bank). The Bank offers loan, deposit, and wealth management products and services. Its loan products and services include consumer loans, residential mortgages, home equity loans, and commercial loans. Its deposit products and services include checking accounts, treasury management solutions, savings accounts, money market accounts, certificates of deposit, and individual retirement accounts. Its wealth management services include estate planning, investment management of assets, trustee under an agreement, trustee under a will, individual retirement accounts, and estate settlement. The Bank operated approximately 20 branches throughout the Shenandoah Valley, central regions of Virginia, and the Richmond and Roanoke market areas. The Bank also operates a loan production office and two customer service centers in retirement communities. The Bank also owns First Bank Financial Services, Inc.; ESF, LLC; and others.
Financial Overview
For the fiscal year ended 31 December 2023, First National Corp interest income increased 17% to $57.7M. Net interest income after loan loss provision decreased 15% to $37.3M. Net income decreased 43% to $9.6M. Net interest income after loan loss provision reflects Net Interest Margin - Total - % decrease of 1% to 3.41%, Interest and dividends on securiti decrease of 1% to $1.2M.
Employees: 215 as of Dec 31, 2022
Reporting Currency: U.S. Dollars
Enterprise value: $148.86M as of Dec 31, 2023
Annual revenue (TTM): $57.72M as of Dec 31, 2023
EBITDA (TTM): $13.66M as of Dec 31, 2023
Net annual income (TTM): $9.62M as of Dec 31, 2023
Free cash flow (TTM): N/A
Net Debt Last Fiscal Year: $47.08M as of Dec 31, 2023
Shares outstanding: 6,277,373 as of Mar 22, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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