Overview
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- TickerFXNC on Nasdaq1
- IndustryState Commercial Banks1
- HeadquartersStrasburg, Virginia1
- Incorporated inVA2
- Business address112 West King Street, Strasburg, Va 226572
- Filer categoryNon-accelerated filer, Smaller reporting company2
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First National Corporation (the Company) is a bank holding company incorporated under Virginia law on September 7, 1983. The Company owns all of the stock of its primary operating subsidiary, First Bank (the Bank), which is a commercial bank chartered under Virginia law. The Company’s subsidiaries are:4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Other Noninterest Income brought in 15% of the revenue FIRST NATIONAL CORP /VA/ broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Other Noninterest Income | $6.3M | $4.9M |
| ATM and Check Card Fees | $3.3M | $4.6M |
| Credit and Debit Card | $3.3M | $4.6M |
| Deposit Account | $3.1M | $4.0M |
| Service charges on deposit accounts | $3.1M | $4.0M |
| Asset Management | $3.6M | $3.6M |
| Wealth management fees | $3.6M | $3.6M |
| Fees for Other Customer Services | $966.0K | $1.2M |
| Financial Service, Other | $966.0K | $1.2M |
| Mortgage Banking | $252.0K | $649.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Income tax19¢$4.2M
- Profit81¢$17.7M
Out of $14.3M in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Dividends paid22¢$5.5M
- Kept or used elsewhere78¢$19.6M
Out of $25.1M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Interest and fees on loans | $85.2M | $63.5M |
| Interest on deposits in banks | $6.9M | $6.5M |
| Interest on federal funds sold | $41.0K | $189.0K |
| Taxable interest | $5.9M | $4.7M |
| Tax-exempt interest | $1.2M | $1.2M |
| Dividends | $260.0K | $202.0K |
| Total interest and dividend income | $99.5M | $76.3M |
| Interest on deposits | $24.3M | $21.0M |
| Interest on federal funds purchased | $0 | $1.0K |
| Interest on subordinated debt | $1.7M | $603.0K |
| Interest on junior subordinated debt | $266.0K | $270.0K |
| Interest on other borrowings | $6.0K | $2.0M |
| Total interest expense | $26.3M | $23.9M |
| Net interest income | $73.2M | $52.5M |
| Provision for credit losses | $2.9M | $7.8M |
| Net interest income after provision for credit losses | $70.4M | $44.6M |
| Noninterest income | $14.3M | $14.2M |
| Income from bank owned life insurance | $1.1M | $755.0K |
| Net (losses) on securities available for sale | $0 | -$155.0K |
| Net gains on sale of loans held for sale | $8.0K | $0 |
| Net gain on subordinated debt payoff | $80.0K | $0 |
| Gain on sale of other investment | $0 | $40.0K |
| Bargain purchase gain | $304.0K | $2.9M |
| Other operating income | $1.5M | $1.6M |
| Total noninterest income | $17.0M | $16.4M |
| Salaries and employee benefits | $33.7M | $25.1M |
| Occupancy | $4.0M | $2.6M |
| Equipment | $4.3M | $3.1M |
| Marketing | $1.2M | $1.0M |
| Supplies | $780.0K | $489.0K |
| Legal and professional fees | $2.4M | $2.0M |
| ATM and check card expenses | $2.1M | $1.5M |
| FDIC assessment | $1.3M | $860.0K |
| Bank franchise tax | $1.4M | $1.0M |
| Data processing expense | $2.3M | $1.4M |
| Amortization expense | $1.8M | $461.0K |
| Other real estate (gain) loss and expense, net | -$7.0K | $15.0K |
| Net losses on disposal of premises and equipment | $0 | $48.0K |
| Merger expense | $2.2M | $8.1M |
| Other operating expense | $8.1M | $5.1M |
| Total noninterest expense | $65.4M | $52.9M |
| Income before income taxes | $21.9M | $8.0M |
| Income tax expense | $4.2M | $1.1M |
| Net income | $17.7M | $7.0M |
| Basic (in dollars per share) | $1.97 | $1.00 |
| Diluted (in dollars per share) | $1.96 | $1.00 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and due from banks | $20.8M | $24.9M | |
| Interest-bearing deposits in banks | $140.1M | $138.0M | |
| Cash and cash equivalents | $160.9M | $162.9M | |
| Securities available for sale, at fair value | $217.5M | $163.8M | |
| Securities held to maturity, at amortized cost (net of allowance for credit losses, 2025, $83, 2024, $95) | $102.9M | $109.7M | |
| Restricted securities, at cost | $5.6M | $3.7M | |
| Loans held for sale | $0 | $409.0K | |
| Loans, net of allowance for credit losses, 2025, $14,719, 2024, $16,400 | $1.4B | $1.5B | |
| Other real estate owned, net of valuation allowance, 2025, $0, 2024, $0 | $0 | $53.0K | $0 |
| Premises and equipment, net | $34.6M | $34.8M | |
| Accrued Investment Income Receivable | $6.5M | $6.0M | |
| Bank owned life insurance | $38.6M | $37.9M | |
| Core deposit intangibles, net | $13.2M | $15.0M | |
| Goodwill | $3.0M | $3.0M | |
| Other Assets | $20.2M | $22.7M | |
| Total assets | $2.0B | $2.0B | |
| Noninterest-bearing demand deposits | $509.9M | $520.2M | |
| Savings and interest-bearing demand deposits | $926.6M | $923.7M | |
| Time deposits | $363.1M | $359.9M | |
| Total deposits | $1.8B | $1.8B | |
| Other borrowings | $25.0M | $0 | |
| Subordinated debt | $8.3M | $21.2M | |
| Junior subordinated debt | $9.3M | $9.3M | |
| Accrued Interest Payable and Other Liabilities | $9.6M | $9.5M | |
| Total liabilities | $1.9B | $1.8B | |
| Preferred stock, par value $1.25 per share; authorized 1,000,000 shares; none issued and outstanding | $0 | $0 | |
| Common stock, par value $1.25 per share; authorized 16,000,000 shares; issued and outstanding, 2025, 9,025,395 shares, 2024, 8,974,102 shares | $11.3M | $11.2M | |
| Surplus | $78.2M | $77.1M | |
| Retained earnings | $108.9M | $96.9M | |
| Accumulated other comprehensive (loss), net | -$12.2M | -$18.7M | |
| Total shareholders equity | $186.2M | $166.5M | $116.3M |
| Total liabilities and shareholders equity | $2.0B | $2.0B | |
| Held to maturity, allowance for credit loss | $83.0K | $95.0K | |
| Allowance for Credit Loss | $14.7M | $16.4M | $12.0M |
| Other real estate owned, valuation allowance | $0 | $0 | |
| Preferred stock, par value (in dollars per share) | $1.25 | $1.25 | |
| Preferred stock, shares authorized (in shares) | 1.0M shares | 1.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $1.25 | $1.25 | |
| Common stock, shares authorized (in shares) | 16.0M shares | 16.0M shares | |
| Common stock, shares issued (in shares) | 9.0M shares | 9.0M shares | |
| Common stock, shares outstanding (in shares) | 9.0M shares | 9.0M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and due from banks | $20.8M | $24.9M | |
| Interest-bearing deposits in banks | $140.1M | $138.0M | |
| Cash and cash equivalents | $160.9M | $162.9M | |
| Securities available for sale, at fair value | $217.5M | $163.8M | |
| Securities held to maturity, at amortized cost (net of allowance for credit losses, 2025, $83, 2024, $95) | $102.9M | $109.7M | |
| Restricted securities, at cost | $5.6M | $3.7M | |
| Loans held for sale | $0 | $409.0K | |
| Loans, net of allowance for credit losses, 2025, $14,719, 2024, $16,400 | $1.4B | $1.5B | |
| Other real estate owned, net of valuation allowance, 2025, $0, 2024, $0 | $0 | $53.0K | $0 |
| Premises and equipment, net | $34.6M | $34.8M | |
| Accrued Investment Income Receivable | $6.5M | $6.0M | |
| Bank owned life insurance | $38.6M | $37.9M | |
| Core deposit intangibles, net | $13.2M | $15.0M | |
| Goodwill | $3.0M | $3.0M | |
| Other Assets | $20.2M | $22.7M | |
| Total assets | $2.0B | $2.0B | |
| Noninterest-bearing demand deposits | $509.9M | $520.2M | |
| Savings and interest-bearing demand deposits | $926.6M | $923.7M | |
| Time deposits | $363.1M | $359.9M | |
| Total deposits | $1.8B | $1.8B | |
| Other borrowings | $25.0M | $0 | |
| Subordinated debt | $8.3M | $21.2M | |
| Junior subordinated debt | $9.3M | $9.3M | |
| Accrued Interest Payable and Other Liabilities | $9.6M | $9.5M | |
| Total liabilities | $1.9B | $1.8B | |
| Preferred stock, par value $1.25 per share; authorized 1,000,000 shares; none issued and outstanding | $0 | $0 | |
| Common stock, par value $1.25 per share; authorized 16,000,000 shares; issued and outstanding, 2025, 9,025,395 shares, 2024, 8,974,102 shares | $11.3M | $11.2M | |
| Surplus | $78.2M | $77.1M | |
| Retained earnings | $108.9M | $96.9M | |
| Accumulated other comprehensive (loss), net | -$12.2M | -$18.7M | |
| Total shareholders equity | $186.2M | $166.5M | $116.3M |
| Total liabilities and shareholders equity | $2.0B | $2.0B | |
| Held to maturity, allowance for credit loss | $83.0K | $95.0K | |
| Allowance for Credit Loss | $14.7M | $16.4M | $12.0M |
| Other real estate owned, valuation allowance | $0 | $0 | |
| Preferred stock, par value (in dollars per share) | $1.25 | $1.25 | |
| Preferred stock, shares authorized (in shares) | 1.0M shares | 1.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $1.25 | $1.25 | |
| Common stock, shares authorized (in shares) | 16.0M shares | 16.0M shares | |
| Common stock, shares issued (in shares) | 9.0M shares | 9.0M shares | |
| Common stock, shares outstanding (in shares) | 9.0M shares | 9.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income | $17.7M | $7.0M |
| Depreciation and amortization of premises and equipment | $2.8M | $1.9M |
| Amortization of core deposit intangibles | $1.8M | $460.0K |
| Amortization of subordinated debt fair value mark | $636.0K | $2.0K |
| Gain on redemption of subordinated debt | -$80.0K | $0 |
| Origination of mortgage loans held for sale | -$6.5M | $0 |
| Proceeds from sale of mortgage loans held for sale | $6.9M | $0 |
| Provision for credit losses on loans | $2.8M | $7.8M |
| Provision for credit losses on unfunded commitments | $141.0K | $73.0K |
| Recovery of credit losses on HTM securities | -$12.0K | -$12.0K |
| Losses on securities available for sale | $0 | $155.0K |
| Net gains on sale of other real estate owned | -$7.0K | $0 |
| Increase in cash value of bank owned life insurance | -$1.1M | -$755.0K |
| Accretion of discounts and amortization of premiums on securities, net | $819.0K | $843.0K |
| Accretion of premium on time deposits | -$664.0K | -$623.0K |
| Accretion of certain acquisition-related loan (discounts), net | -$1.1M | -$780.0K |
| Stock-based compensation | $1.2M | $635.0K |
| Excess tax benefits on stock-based compensation | $26.0K | $1.0K |
| (Gains) losses on disposal of premises and equipment | -$13.0K | $48.0K |
| Bargain purchase gain | -$304.0K | -$2.9M |
| Deferred income tax expense (benefit) | $386.0K | -$437.0K |
| (Increase) decrease in interest receivable | -$410.0K | $467.0K |
| (Increase) decrease in other assets | -$582.0K | $2.5M |
| Increase (decrease) in accrued interest payable and other liabilities | $842.0K | -$38.6M |
| Net cash provided by (used in) operating activities | $25.1M | -$22.2M |
| Proceeds from maturities, calls, principal payments, and sales of securities available for sale | $30.5M | $74.8M |
| Proceeds from maturities, calls, and principal payments of securities held to maturity | $7.8M | $39.7M |
| Purchases of securities available for sale | -$77.3M | -$26.0M |
| Redemption of subordinated debt | $0 | $0 |
| Net (purchase) redemption of restricted securities | -$1.9M | $1.8M |
| Purchase of premises and equipment, net | -$4.2M | -$3.3M |
| Proceeds from sale of premises and equipment | $1.7M | $18.0K |
| Proceeds from sale of other real estate owned | $60.0K | $0 |
| Proceeds from cash value of bank owned life insurance | $440.0K | $401.0K |
| Net cash acquired in acquisition of Touchstone Bank | $0 | $70.2M |
| Net decrease (increase) in loans | $13.5M | -$20.9M |
| Net cash (used in) provided by investing activities | -$29.4M | $136.8M |
| (Decrease) in demand deposits and savings accounts | -$7.4M | -$7.8M |
| Net increase in time deposits | $3.9M | $23.1M |
| Increase (decrease) in other borrowings | $25.0M | -$50.0M |
| Redemption of subordinated debt | -$13.4M | $0 |
| Cash dividends paid on common stock, net of reinvestment | -$5.5M | -$4.0M |
| Net cash provided by (used in) financing activities | $2.3M | -$38.9M |
| (Decrease) increase in cash and cash equivalents | -$2.0M | $75.7M |
| Interest | $27.4M | $23.2M |
| Income taxes | $3.4M | $2.1M |
| Unrealized gain (losses) on securities available for sale | $7.6M | -$1.5M |
| Amortization of unrealized losses on securities transferred from available for sale to held to maturity | $957.0K | $1.3M |
| Change in fair value of cash flow hedges | -$398.0K | $202.0K |
| Lease liabilities arising from obtaining right-of-use assets during the period | $0 | $2.1M |
| Transfer from loans to other real estate owned | $0 | $53.0K |
| Issuance of common stock, dividend reinvestment plan | $193.0K | $179.0K |
| Assets acquired | $0 | $594.1M |
| Liabilities assumed | $0 | $614.6M |
No quarter-by-quarter statement was filed.
Corporate structure
FIRST NATIONAL CORP /VA/ sits at the top of its group. 7 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of FIRST NATIONAL CORP /VA/
- Fourthstone LLC Filed SCHEDULE 13G/A on FIRST NATIONAL CORP /VA/, latest Aug 14, 2026 (6 filings since Feb 14, 2022)
- BlackRock Filed SCHEDULE 13G on FIRST NATIONAL CORP /VA/, latest Jul 28, 2026
- Siena Capital Partners GP, LLC Filed SCHEDULE 13G/A on FIRST NATIONAL CORP /VA/, latest Feb 12, 2025 (4 filings since Jan 25, 2022)
- Gerald F. Smith Jr. Filed SCHEDULE 13D/A on FIRST NATIONAL CORP /VA/, latest Dec 30, 2024 (3 filings since Mar 29, 2022)
- James R. Wilkins Iii. Filed SC 13D/A on FIRST NATIONAL CORP /VA/, latest Dec 17, 2024 (2 filings since Jul 19, 2023)
- Gerald F. Smith Irrevocable Trust f/b/o Gerald F. Smith, Jr. dated 9/30/02 Filed SC 13G/A on FIRST NATIONAL CORP /VA/, latest Mar 29, 2022
- FIRST NATIONAL CORP /VA/ Strasburg, Virginia
- - First Bank Financial Services, Inc. Subsidiary · Virginia, United States
- - McKenney Group, LLC Subsidiary · Virginia, United States
- - Shen-Valley Land Holdings, LLC Subsidiary · Virginia, United States
- First Bank, Inc. Subsidiary · Virginia, United States
- First National (VA) Statutory Trust II Subsidiary · Delaware, United States
- First National (VA) Statutory Trust III Subsidiary · Delaware, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What FIRST NATIONAL CORP /VA/ reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $52.7M5 Dec 31, 2025 | $50.3M5 Dec 31, 2024 | +4.8% |
| Accumulated depreciation | $18.2M5 Dec 31, 2025 | $15.5M5 Dec 31, 2024 | +17.2% |
| Property and equipment, net | $34.6M5 Dec 31, 2025 | $34.8M5 Dec 31, 2024 | −0.8% |
| Operating-lease assets (leased space) | $1.8M5 Dec 31, 2025 | $2.0M5 Dec 31, 2024 | −10.5% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $160.9M5 Dec 31, 2025 | $162.9M5 Dec 31, 2024 | −1.2% |
| Debt securities available for sale | $163.8M10 Dec 31, 2024 | $152.9M10 Dec 31, 2023 | +7.2% |
| Debt securities held to maturity | $109.8M10 Dec 31, 2024 | $148.4M10 Dec 31, 2023 | −26.0% |
| Loans, net of allowance | $1.4B5 Dec 31, 2025 | $1.5B5 Dec 31, 2024 | −1.0% |
| Deposits held (banks) | $1.8B5 Dec 31, 2025 | $1.8B5 Dec 31, 2024 | −0.2% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $3.0M5 Dec 31, 2025 | $3.0M5 Dec 31, 2024 | 0% |
| Intangible assets, net (excluding goodwill) | $13.2M5 Dec 31, 2025 | $15.0M5 Dec 31, 2024 | −11.8% |
Properties, in its own words
The Company, through its primary operating subsidiary, First Bank, owns or leases buildings that are used in the normal course of business. The Company’s headquarters is located at 112 West King Street, Strasburg, Virginia. The Bank owns or leases various other offices in the counties and cities in which it operates. At December 31, 2025, the Bank operated 33 branches throughout the Shenandoah Valley, south-central regions of Virginia, the Richmond and Roanoke market areas, and northern North Carolina. The Bank also operates a loan production office and a customer service center in a retirement community. The Company’s operations center is in Strasburg, Virginia. All of the Company’s properties are in good operating condition and are adequate for the Company’s present and future needs. See Note 1, “Nature of Banking Activities and Significant Accounting Policies,” Note 7, “Premises and Equipment,” and Note 18, "Lease Commitments," in the “Notes to Consolidated Financial Statements” contained in Item 8 of this Form 10-K for information with respect to the amounts at which Bank premises and equipment are carried and commitments under long-term leases.
Item 2 of the 10-K filed Mar 25, 2026.4
Leadership
Who has led FIRST NATIONAL CORP /VA/, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerScott C. Harvard May 19, 2011 to now14
- PresidentScott C. Harvard May 19, 2011 to now14
- Chief financial officerBrad E. Schwartz Apr 2, 2025 to now15
- Chief financial officerBruce E. Thomas Dec 3, 2024 to Dec 3, 202416
- Chief financial officerMichael Shane Bell Jul 3, 2012 to Feb 16, 202417
- Chief operating officerDennis A. Dysart Feb 13, 2015 to now18
Board members and other officers (26)
- EVP / CCOSamuel J. Crow Jr. Aug 20, 2014 to Feb 13, 201519
- EVP/VP Ops & TechnologyChristopher T. Martin Jul 3, 2012 to Jul 24, 201520
- Senior EVP/CCODennis A. Dysart Jul 3, 2012 to Jul 3, 201221
- EVP/Senior Lending OfficerJames C. Youngblood Nov 9, 2012 to Mar 12, 201522
- EVP Senior Loan AdministratorJeffrey S. Boppe Jan 18, 2011 to Jul 3, 201223
- EVP/Loan AdminJ. Andrew Hershey Feb 17, 2010 to Feb 17, 201024
- EVP-SENIOR TRUST OFFICERMarshall J. Beverley Jr. Aug 3, 2006 to Mar 23, 201525
- Board memberNorman D. Wagstaff Jr. Oct 3, 2024 to now26
- Board memberWilliam Simmons Wilkinson Oct 4, 2024 to now27
- Board memberC. Ray Sprinkle Jul 6, 2021 to Aug 11, 202228
- Board memberGeorge Edwin Holt Iii. Jul 6, 2021 to now29
- Board memberKirtesh Patel Jul 6, 2021 to now30
- Board memberJason C. Aikens Aug 10, 2018 to now31
- Board memberBoyce E. Brannock Jan 23, 2017 to now32
- Board memberEmily Marlow Beck Aug 22, 2014 to now33
- Board memberWilliam Michael Funk Aug 22, 2014 to now34
- Board memberMiles K. Davis Aug 20, 2013 to Aug 10, 201735
- Board memberHenry L. Shirkey Jul 3, 2012 to Jul 3, 201236
- Board memberElizabeth H. Cottrell Feb 10, 2011 to now37
- Board memberScott C. Harvard Aug 15, 2011 to now38
- Board memberByron A. Brill Dr. Sep 12, 2008 to Jul 3, 201239
- Board memberChristopher E. French Aug 1, 2007 to Aug 10, 201740
- Board memberCharles E. Maddox Jr. Mar 23, 2006 to Mar 23, 200641
- Board memberW. Allen Nicholls Mar 23, 2006 to Jul 3, 201242
- Board memberJohn K. Marlow Mar 24, 2006 to May 24, 201343
- Board memberDouglas C. Arthur Jun 13, 2006 to Nov 19, 201544
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- - First Bank Financial Services, Inc. Virginia3
- - McKenney Group, LLC Virginia3
- - Shen-Valley Land Holdings, LLC Virginia3
- First Bank, Inc. Virginia3
- First National (VA) Statutory Trust II Delaware3
- First National (VA) Statutory Trust III Delaware3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Aug 13, 20268-K Other events45
- Jul 29, 20268-K Results of operations46
- May 14, 20268-K Shareholder vote; Other events47
- May 13, 20268-K Regulation FD disclosure48
- Apr 30, 20268-K Results of operations49
- Feb 12, 20268-K Other events50
- Feb 12, 20268-K Other events51
- Jan 29, 20268-K Results of operations52
- Nov 13, 20258-K Other events53
- Oct 30, 20258-K Results of operations54
- Aug 14, 20258-K Other events55
- Jul 30, 20258-K Results of operations56
- May 19, 2011New chief executive Scott C. Harvard becomes CEO14
Calendar
Coming up
- Oct 29, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.58 a share, on Oct 30, 2025.57
When it reported results
- Jul 29, 2026Reported quarterly or annual results46
- Apr 30, 2026Reported quarterly or annual results49
- Jan 29, 2026Reported quarterly or annual results52
- Oct 30, 2025Reported quarterly or annual results54
- Jul 30, 2025Reported quarterly or annual results56
- Apr 30, 2025Reported quarterly or annual results58
- Feb 6, 2025Reported quarterly or annual results59
- Nov 6, 2024Reported quarterly or annual results60
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
355 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 56 major events, 237 insider forms, 17 large holders, 25 other. The latest 20:
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 13, 20264 FUNK 081226 EDGAR
- Aug 13, 20264 BRANNOCK 081226 EDGAR
- Aug 13, 20264 PATEL 081226 EDGAR
- Aug 13, 20264 SMITH 081226 EDGAR
- Aug 13, 20264 WILKINS 081226 EDGAR
- Aug 13, 20264 WAGSTAFF 081226 EDGAR
- Aug 13, 20264 WILKINSON 081226 EDGAR
- Aug 13, 20264 ANDREWS 081226 EDGAR
- Aug 13, 20264 BECK 081226 EDGAR
- Aug 13, 20264 AIKENS 081226 EDGAR
- Aug 13, 20264 HOLT 081226 EDGAR
- Aug 13, 202610-Q EDGAR
- Aug 13, 20268-K EDGAR
- Jul 29, 20268-K EDGAR
- Jul 28, 2026SCHEDULE 13G EDGAR
- May 15, 2026SCHEDULE 13G/A EDGAR
- May 14, 20268-K EDGAR
- May 13, 202610-Q EDGAR
- May 13, 20268-K EDGAR
The 355 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
106 open-market trades by officers, directors and large owners since October 2021: 97 buys and 9 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Mar 4, 2026 | Schwartz Brad EEVP - CFO | Buy | 1,000 | $26.91 | $26.9K | Form 4 |
| Aug 7, 2025 | Schwartz Brad EEVP - CFO | Buy | 1,000 | $21.02 | $21.0K | Form 4 |
| Jun 5, 2025 | Schwartz Brad EEVP - CFO | Buy | 1,000 | $19.65 | $19.6K | Form 4 |
| Jun 2, 2025 | Schwartz Brad EEVP - CFO | Buy | 1,000 | $20.20 | $20.2K | Form 4 |
| May 8, 2025 | Schwartz Brad EEVP - CFO | Buy | 1,000 | $19.60 | $19.6K | Form 4 |
| May 6, 2025 | Schwartz Brad EEVP - CFO | Buy | 1,000 | $19.57 | $19.6K | Form 4 |
| Jul 3, 2024 | Patel KirteshDirector | Buy | 7,500 | $15.56 | $116.7K | Form 4 |
| Jun 28, 2024 | WILKINS III JAMES RDirector | Buy | 32 | $15.05 | $482 | Form 4 |
| Jun 27, 2024 | WILKINS III JAMES RDirector | Buy | 500 | $15.00 | $7.5K | Form 4 |
| Jun 26, 2024 | WILKINS III JAMES RDirector | Buy | 388 | $14.95 | $5.8K | Form 4 |
| Jun 25, 2024 | WILKINS III JAMES RDirector | Buy | 886 | $14.95 | $13.2K | Form 4 |
| Jun 20, 2024 | WILKINS III JAMES RDirector | Buy | 800 | $15.15 | $12.1K | Form 4 |
| Jun 18, 2024 | WILKINS III JAMES RDirector | Buy | 1,284 | $15.40 | $19.8K | Form 4 |
| Jun 17, 2024 | WILKINS III JAMES RDirector | Buy | 716 | $15.15 | $10.8K | Form 4 |
| Jun 14, 2024 | WILKINS III JAMES RDirector | Buy | 2,000 | $15.34 | $30.7K | Form 4 |
| Jun 12, 2024 | WILKINS III JAMES RDirector | Buy | 1,700 | $15.48 | $26.3K | Form 4 |
| Jun 11, 2024 | WILKINS III JAMES RDirector | Buy | 3,500 | $15.41 | $53.9K | Form 4 |
| Jun 10, 2024 | WILKINS III JAMES RDirector | Buy | 3,478 | $15.48 | $53.8K | Form 4 |
| Jun 6, 2024 | WILKINS III JAMES RDirector | Buy | 11 | $15.50 | $170 | Form 4 |
| Jun 5, 2024 | WILKINS III JAMES RDirector | Buy | 1,375 | $15.50 | $21.3K | Form 4 |
All 106 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Fourthstone LLCSCHEDULE 13G/A, 6 filings Feb 14, 2022 to Aug 14, 202661
- BlackRockSCHEDULE 13G, 1 filing Jul 28, 202662
- Siena Capital Partners GP, LLCSCHEDULE 13G/A, 4 filings Jan 25, 2022 to Feb 12, 202563
- Gerald F. Smith Jr.SCHEDULE 13D/A, 3 filings Mar 29, 2022 to Dec 30, 202464
- James R. Wilkins Iii.SC 13D/A, 2 filings Jul 19, 2023 to Dec 17, 202465
- Gerald F. Smith Irrevocable Trust f/b/o Gerald F. Smith, Jr. dated 9/30/02SC 13G/A, 1 filing Mar 29, 202266
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Scott C. Harvard | $509.5K | $923.3K67 | |
| 2025 | Dennis A. Dysart | $331.6K | $514.7K67 | |
| 2025 | Brad E. Schwartz | $213.5K | $426.8K67 | |
| 2024 | President & | $459.2K | $1.3M67 | |
| 2024 | Sr. Executive VicePresident | $294.1K | $781.5K67 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 90. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How FIRST NATIONAL CORP /VA/ is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARFIRST NATIONAL CORP /VA/1
- CIK0000719402
- Employer ID (EIN)54-12329654
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inVirginia4
- Fiscal year endsDecember 311
- Industry code (SIC)6022 State Commercial Banks1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address112 West King Street, Strasburg, VA 226571
- Phone54046591211
- Shares outstanding9,042,629 as of Aug 7, 202612
- Public float$150.6M as of Jun 30, 20254
- AuditorYount, Hyde & Barbour, P.C., Winchester, Virginia PCAOB ID 613; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceAug 14, 19961
- Filings1,244 in all: 4 (679), 8-K (218), 10-Q (81), 4/A (44), DEF 14A (30), 10-K (23), 3 (19), SC 13G/A (17)1
All 48 form types
ARS (16), SC 13D/A (10), 10QSB (9), DEFA14A (9), 425 (8), CORRESP (8), SC 13G (7), UPLOAD (7), EFFECT (6), 10-K405 (4), S-1/A (4), 5 (3), PRE 14A (3), SC 13D (3), SCHEDULE 13G/A (3), 10KSB (2), 424B1 (2), 424B3 (2), S-1 (2), S-3 (2), S-4 (2), S-4/A (2), S-8 (2), 10-Q/A (1), 10-QT (1), 10KSB/A (1), 10KSB40 (1), 10QSB/A (1), 144 (1), 3/A (1), 8-A12B (1), 8-K/A (1), CERT (1), D (1), NT 10-Q (1), S-3/A (1), S-3D (1), S-3DPOS (1), SCHEDULE 13D/A (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Mar 25, 2026
Quarterly report (10-Q) Aug 13, 2026
Proxy statement (DEF 14A) Apr 2, 2026
Latest 8-K (8-K) Aug 13, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common stock, par value $1.25 per share | FXNC | Nasdaq |
From the cover page of the 10-K filed Mar 25, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks FIRST NATIONAL CORP /VA/ names in Item 1A of its 10-K filed Mar 25, 2026: 48 risks under these headings, as written.4
- Risks Related to our Lending Activities and Economic Conditions
- Adverse changes in economic conditions in our market areas or adverse conditions in an industry on which a local market in which we do business is dependent could adversely affect our results of operations and financial condition.
- The Company’s allowance for credit losses on loans may prove to be insufficient to absorb losses in its loan and securities portfolios.
- The Company’s concentration in loans secured by real estate may adversely affect earnings due to changes in the real estate markets.
- The Company has a significant exposure in commercial real estate, and loans with this type of collateral are viewed as having more risk of default.
- The Company’s loan portfolio contains construction and development loans, and a decline in real estate values and economic conditions would adversely affect the value of the collateral securing the loans and have an adverse effect on the Company’s financial condition.
- The Company’s credit standards and its on-going credit assessment processes might not protect it from significant credit losses.
- Prepayments of loans and securities could materially impact earnings through a reduction in interest income and fees on loans and interest income on securities.
- The Company’s focus on lending to small to mid-sized community-based businesses may increase its credit risk.
- The Company relies upon independent appraisals to determine the value of the real estate which secures a significant portion of its loans, and the values indicated by such appraisals may not be realizable if the Company is forced to foreclose upon such loans.
- The Company depends on the accuracy and completeness of information about clients and counterparties, and its financial condition could be adversely affected if it relies on misleading information.
- Nonperforming assets take significant time to resolve and adversely affect the Company’s results of operations and financial condition.
The other 37 risks
- We are subject to environmental liability risk associated with our lending activities.
- Weakness in the secondary residential mortgage loan markets or demand for mortgage loans may adversely affect income.
- The Company’s wealth management revenue is directly impacted by the market value of assets under management, which could adversely impact Company profitability.
- Risks Related to our Industry
- We are subject to interest rate risk and fluctuations in interest rates may negatively affect our results of operations and financial condition.
- We rely substantially on deposits obtained from customers in our target markets to provide liquidity and support growth.
- Consumers may increasingly decide not to use banks to complete their financial transactions, which could have a material adverse impact on our financial condition and operations.
- Competition in our primary market area may limit asset growth and profitability.
- The carrying value of intangible assets, such as goodwill and core deposit intangibles, may be adversely affected.
- There are risks resulting from the use of models in our business.
- Risks Related to Operations and Technology
- The Company’s risk-management framework may not be effective in mitigating risk and loss.
- Security breaches and other disruptions could compromise our information and expose us to liability or result in the loss of money, which could damage our reputation and our business.
- The Company relies on other companies to provide key components of its business infrastructure.
- Our business is technology dependent, and an inability to successfully implement technological improvements may adversely affect our ability to be competitive and our results of operations and financial condition.
- Loss of any of our key personnel could disrupt our operations and result in reduced revenues or increased expenses.
- The success of our business strategies depends on our ability to identify and recruit individuals with experience and relationships in our primary markets.
- Difficulties in combining the operations of new or acquired bank branches, loan production offices or entities with the Company’s own operations may prevent the Company from achieving the expected benefits from acquisitions.
- The inability of the Company to successfully manage its growth or implement its growth strategy may adversely affect the Company’s results of operations and financial conditions.
- Failure to maintain effective systems of internal and disclosure controls could have a material adverse effect on the Company’s results of operation and financial condition.
- The Company or any of its subsidiaries is a defendant from time to time in a variety of litigation and other actions.
- The Company is subject to claims and litigation pertaining to fiduciary responsibility.
- The soundness of other financial institutions could adversely affect the Company.
- The operational functions of business counterparties over which the Company may have limited, or no control may experience disruptions that could adversely impact the Company.
- Severe weather, pandemics, natural disasters, acts of war or terrorism, and other external events could significantly impact our business.
- Risks Related to the Regulation of the Company
- Compliance with laws, regulations and supervisory guidance, both new and existing, may adversely affect our business, financial condition and results of operations.
- Our earnings are significantly affected by the fiscal and monetary policies of the federal government and its agencies.
- The Company is subject to stringent capital and liquidity requirements as a result of the Basel III regulatory capital reforms and the Dodd-Frank Act, which could adversely affect our results of operations and future growth.
- Legislative or regulatory changes or actions, or significant litigation, could adversely affect the Company or the businesses in which the Company is engaged.
- Changes in accounting standards could impact reported earnings and capital.
- Changes in tax rates applicable to the Company may cause impairment of deferred tax assets.
- Evolving expectations from customers, regulators, investors, and other stakeholders with respect to environmental, social and governance (ESG) practices may impose additional costs on the Company or expose it to new or additional risks.
- Climate change and related legislative and regulatory initiatives may result in operational changes and expenditures that could significantly impact the Company’s business.
- Risks Related to The Company’s Securities
- The Company relies on dividends from its subsidiaries for substantially all of its revenue.
- Future issuances of the Company’s common stock could adversely affect the market price of the common stock and could be dilutive.
- Current economic conditions or other factors may cause volatility in the Company’s common stock value.
- Future sales of our common stock by shareholders or the perception that those sales could occur may cause our common stock price to decline.
- The Company’s subordinated debt and junior subordinated debt are superior to its common stock, which may limit its ability to pay dividends on common stock in the future.
- The Company’s governing documents and Virginia law contain anti-takeover provisions that could negatively affect its shareholders.
Legal proceedings
There are no material pending legal proceedings to which the Company is a party or to which the property of the Company is subject.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 19SEC EDGARSamuel J. Crow Jr., EVP / CCO
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- 21SEC EDGARDennis A. Dysart, Senior EVP/CCO
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- 24SEC EDGARJ. Andrew Hershey, EVP/Loan Admin
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- 26SEC EDGARNorman D. Wagstaff Jr., Board member
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- 28SEC EDGARC. Ray Sprinkle, Board member
- 29SEC EDGARGeorge Edwin Holt Iii., Board member
- 30SEC EDGARKirtesh Patel, Board member
- 31SEC EDGARJason C. Aikens, Board member
- 32SEC EDGARBoyce E. Brannock, Board member
- 33SEC EDGAREmily Marlow Beck, Board member
- 34SEC EDGARWilliam Michael Funk, Board member
- 35SEC EDGARMiles K. Davis, Board member
- 36SEC EDGARHenry L. Shirkey, Board member
- 37SEC EDGARElizabeth H. Cottrell, Board member
- 38SEC EDGARScott C. Harvard, Board member
- 39SEC EDGARByron A. Brill Dr., Board member
- 40SEC EDGARChristopher E. French, Board member
- 41SEC EDGARCharles E. Maddox Jr., Board member
- 42SEC EDGARW. Allen Nicholls, Board member
- 43SEC EDGARJohn K. Marlow, Board member
- 44SEC EDGARDouglas C. Arthur, Board member
- 45SEC EDGAROther events
- 46SEC EDGARResults of operations
- 47SEC EDGARShareholder vote; Other events
- 48SEC EDGARRegulation FD disclosure
- 49SEC EDGARResults of operations
- 50SEC EDGAROther events
- 51SEC EDGAROther events
- 52SEC EDGARResults of operations
- 53SEC EDGAROther events
- 54SEC EDGARResults of operations
- 55SEC EDGAROther events
- 56SEC EDGARResults of operations
- 57NasdaqNasdaq calendar
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