First National Corp

First National Corporation is the bank holding company for First Bank, providing commercial banking services to small and medium-sized businesses, individuals, estates, local governmental entities, and non-profit organizations in Virginia. Its deposit products include checking, savings, money market, and individual retirement accounts, as well as certificates of deposit and treasury management solutions. Loan products include construction loans (residential and land development), 1-4 family residential real estate loans, commercial real estate loans secured by properties such as multi-family residential buildings, industrial and warehouse buildings, hotels, and religious facilities, as well as commercial and industrial loans, home equity loans, and consumer loans such as lines of credit, automobile loans, and unsecured loans. The company also offers wealth management services including estate planning, investment management, trustee under an agreement, trustee under a will, and estate settlement, along with title insurance and investment services, and provides internet and mobile banking, remote deposit capture, and other traditional banking services. First National Corporation was founded in 1907 and is headquartered in Strasburg, Virginia.

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First National Corporation Reports Second Quarter 2026 Net Income of $5.7 Million

First National Corporation reported consolidated net income of $5.7 million for the second quarter of 2026, with basic earnings per share of $0.64. The fully tax-equivalent net interest margin expanded to 4.15%, up from 3.95% a year earlier, while net loans grew by $22.7 million during the quarter. The company also announced it has received all regulatory approvals for the pending sale of its North Carolina branches, which is expected to close early in the fourth quarter as part of a branch optimization initiative that will reduce total banking offices from 33 to 28 by year-end. Noninterest income rose to $4.0 million, and noninterest expense increased to $16.4 million, while asset quality remained sound with nonperforming assets at 0.23% of total assets.

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