First National Corporation (the Company) makes forward-looking statements in this presentation that are subject to risks and uncertainties. These forward-looking statements may include, but are not limited to, statements regarding profitability, liquidity, adequacy of capital, allowance for loan losses, interest rate sensitivity, market risk, and growth strategy, as well as certain financial and other goals. The words "believes," "expects," "may," "will," "should," "projects," "contemplates," "anticipates," "forecasts," "intends," or other similar words or terms are intended to identify forward- looking statements. These forward-looking statements are subject to significant uncertainties.
Because of these and other uncertainties, actual future results may be materially different from the results indicated by these forward-looking statements. In addition, past results of operations do not necessarily indicate future results. The following presentation should be read in conjunction with the consolidated financial statements and related notes included in Part II, Item 8, and Item 1A. Risk Factors of the Company's Form 10-K for the year ended December 31, 2022.
2
Overview of First National Corporation
Q2 2023 YTD Financial Snapshot
Total Assets
$1.4B
Balance
Gross Loans
$930.2M
Winchester
Sheet
Total Deposits
$1.2B
Locations: 20
Strasburg
Washington
Loans / Deposits
74.9%
D.C.
NIM
3.48%
Profitability
ROAA
1.09%
ROAE
13.39%
Staunton
Virginia
Efficiency Ratio
66.91%
Richmond
TCE / TA3
8.00%
Regulatory
Tier 1 Leverage¹
9.72%
Capital
Tier 1 Capital Ratio¹
13.93%
Roanoke
Virginia
Total Capital Ratio¹
14.88%
Beach
NCOs / Average Loans
0.18%
Asset Quality
NPAs / Assets²
0.05%
Allowance for Credit Losses / Loans
0.95%
Represents bank-level ratio
Nonperforming assets defined as nonaccrual loans and real estate owned
See Slide 20 for certain calculations related to Non-GAAP reconciliations Note: Grey shading indicates FXNC market presence in respective county or city Second quarter year-to-date 2023 financial information is unaudited.
3
Attractive Markets of Operation
County
Market
Branches (#)
Deposits In Market
Deposit Market
'23 - '28 Proj.
'23 Median
'23 - '28 Proj.
Rank
($000)
Share (%)
Pop Change (%)
HHI ($)
HHI Growth (%)
Active Branch Markets
Shenandoah
1
3
$378,861
39.84%
3.78%
$68,822
14.09%
Winchester (City)
2
1
258,382
10.64
2.13
71,885
12.77
Botetourt
2
6
233,139
37.59
2.56
84,726
13.63
Warren
4
2
106,890
14.11
3.59
79,483
11.25
Frederick
5
2
97,263
8.01
6.88
93,500
11.80
Staunton (City)
5
1
48,168
4.59
2.46
63,118
10.84
Rockingham
7
1
45,760
3.23
3.41
76,947
19.30
Waynesboro (City)
7
1
44,227
6.43
4.32
51,476
15.56
Richmond (City)
11
1
41,629
0.12
2.59
58,557
16.39
Buckingham
3
1
27,511
23.29
1.46
57,433
10.47
Prince Edward
6
1
22,860
4.38
(0.41)
52,364
13.70
FXNC Average
3.25%
$73,614
13.45%
Virginia Average
2.57%
$87,219
12.85%
National Average
2.14%
$73,503
13.37%
Note: Sorted by the amount of First Bank deposits in market; Deposit data as of June 30, 2022
Source: S&P Global Market Intelligence; FDIC
4
Products Offerings and Capabilities
Commercial Banking
Retail Banking
Mortgage
Wealth Management
20 branches and 2 LPOs
Seasoned bankers including 12 full-time lenders, deposit specialists, online and mobile banking
Cash / treasury management
20 branches
Call center
Online and mobile banking
Online deposit account opening
Online mortgage applications
4 dedicated residential MLOs
Diverse and flexible products includes construction and permanent financing, online applications
3 trust officers and 3 operations specialists
Estate planning, investment management of assets, trustee under an agreement, trustee under a will, individual retirement accounts, estate settlement
5
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Disclaimer
First National Corporation published this content on 28 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2023 19:33:48 UTC.
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.
FIRST NATIONAL CORPORATION 
