First National Corporation (OQ:FXNC)

Sector:  Financials Industry:  Banks
See Regulatory Filings on SEC
Company Contact
Address: 112 W King St
STRASBURG VA 22657-2220
Tel: N/A
Website: N/A
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 and Chief Operating Officer of the Bank
Business Overview
First National Corporation is a bank holding company of First Bank (the Bank). The Bank is a commercial bank, which provides loan, deposit, wealth management and other products and services in the Shenandoah Valley and central regions of Virginia. Loan products and services include personal loans, residential mortgages, home equity loans and commercial loans. Deposit products and services include checking, savings, negotiable order of withdrawal (NOW) accounts, money market accounts, individual retirement accounts, certificates of deposit and cash management accounts. The Bank offers other services, including Internet banking, mobile banking, remote deposit capture and other traditional banking services. The Bank's wealth management department offers estate planning, investment management of assets, trustee under an agreement, trustee under a will, individual retirement accounts and estate settlement.
Financial Overview
For the fiscal year ended 31 December 2019, First National Corporation interest income increased 6% to $32.9M. Net interest income after loan loss provision increased 2% to $27.6M. Net income decreased 6% to $9.6M. Net interest income after loan loss provision reflects Interest and fees on loans increase of 8% to $29M, Interest and dividends on securiti increase of 3% to $628K, Interest and dividends on securi increase of 13% to $103K.
Employees: 154 as of Dec 31, 2019
Reporting Currency: U.S. Dollars
Enterprise value: $78.66M as of Dec 31, 2019
Annual revenue (TTM): $32.90M as of Dec 31, 2019
EBITDA (TTM): $14.23M as of Dec 31, 2019
Net annual income (TTM): $9.56M as of Dec 31, 2019
Free cash flow (TTM): $9.15M as of Dec 31, 2019
Net Debt Last Fiscal Year: $4.59M as of Dec 31, 2019
Shares outstanding: 4,974,925 as of Mar 12, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization