First National Corporation

FXNC

US32106V1070

Banks

Market Closed - Nasdaq Other stock markets 04:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
15.03 ^USD	-0.07%		-0.13%	-30.90%

Mar. 26	Sector Update: Financial Stocks Gain Late Afternoon	MT
Mar. 26	Sector Update: Financial Stocks Rise Tuesday Afternoon	MT

First National Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023

February 02, 2024 at 02:59 pm EST

First National Corporation reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 10.81 million compared to USD 12.01 million a year ago. Net loss was USD 0.851 million compared to net income of USD 4.78 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.76 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to diluted earnings per share from continuing operations of USD 0.76 a year ago.
For the full year, net interest income was USD 43.41 million compared to USD 45.58 million a year ago. Net income was USD 9.62 million compared to USD 16.8 million a year ago. Basic earnings per share from continuing operations was USD 1.54 compared to USD 2.69 a year ago. Diluted earnings per share from continuing operations was USD 1.53 compared to USD 2.68 a year ago.

Latest news about First National Corporation

Sector Update: Financial Stocks Gain Late Afternoon	Mar. 26	MT
Sector Update: Financial Stocks Rise Tuesday Afternoon	Mar. 26	MT
First National to Acquire Touchstone Bankshares in All-Stock Transaction	Mar. 26	MT
First National Corporation entered into a definitive merger agreement to acquire Touchstone Bankshares, Inc. for $46.9 million.	Mar. 25	CI
First National Corporation Declares Quarterly Cash Dividend, Payable on March 15, 2024	Feb. 16	CI
Tranche Update on First National Corporation's Equity Buyback Plan announced on October 26, 2022.	Feb. 02	CI
First National Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023	Feb. 02	CI
First National Corporation Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2023	Feb. 02	CI
First National Corporation Declares Quarterly Cash Dividend, Payable on December 8, 2023	Nov. 09	CI
Tranche Update on First National Corporation's Equity Buyback Plan announced on October 26, 2022.	23-10-27	CI
First National Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	23-10-27	CI
Earnings Flash (FXNC) FIRST NATIONAL CORPORATION Posts Q3 EPS $0.50	23-10-26	MT
First National Corporation Reports Net Charge-Offs for the Third Quarter Ended September 30, 2023	23-10-26	CI
Janney Downgrades First National to Neutral From Buy, Price Target is $19	23-09-12	MT
First National Corporation Announces Quarterly Cash Dividend, Payable on September 8, 2023	23-08-11	CI
First National Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023	23-07-26	CI
Tranche Update on First National Corporation's Equity Buyback Plan announced on October 26, 2022.	23-07-25	CI
First National Corporation Declares Quarterly Cash Dividend, Payable on June 9, 2023	23-05-11	CI
First National Corporation Reports Earnings Results for the First Quarter Ended March 31, 2023	23-04-26	CI
Tranche Update on First National Corporation's Equity Buyback Plan announced on October 26, 2022.	23-04-25	CI
First National Corporation Hires W. Todd Ross as Roanoke Valley Market President	23-04-24	CI
Tranche Update on First National Corporation's Equity Buyback Plan announced on October 26, 2022.	23-03-30	CI
First National Raises Quarterly Dividend to $0.15 a Share From $0.14, Payable March 10 to Shareholders as of Feb. 24	23-02-13	MT
First National Corporation Announces Quarterly Cash Dividend, Payable on March 10, 2023	23-02-13	CI
First National Corporation Reports Earnings Results for the Fourth Quarter Ended December 31, 2022	23-01-26	CI

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Company Profile

First National Corporation is a bank holding company for First Bank (the Bank), which is a commercial 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. Deposit products and services include checking accounts, treasury management solutions, savings accounts, money market accounts, certificates of deposit and individual retirement accounts. Wealth management services include estate planning, investment management of assets, trustee under an agreement, trustee under a will, individual retirement accounts and estate settlement. Its customers include small and medium-sized businesses, individuals and others. It operates over 20 branches throughout the Shenandoah Valley, central regions of Virginia, and the Richmond and Roanoke market areas. It also operates a loan production office and two customer service centers in retirement communities.

Sector

Banks

Calendar

2024-07-22 - Q2 2024 Earnings Release (Projected)

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Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

15.03 USD

Average target price

18.5 USD

Spread / Average Target

+23.09%

Consensus

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Quarterly earnings - Rate of surprise

Company calendar

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Commercial Banks