earnings
confidence high
sentiment positive
materiality 0.65
Virginia National Q3 net income up 68% to $3.1M; diluted EPS $0.59 excluding merger costs $0.86
Virginia National Bankshares Corp
2021-Q3 EPS reported
$1.07
- Net income $3.1M ($0.59 diluted EPS) vs $1.9M ($0.69) Q3 2020; EPS decline due to merger share increase.
- Excluding $1.9M pre-tax merger costs, adjusted net income $4.6M ($0.86 diluted EPS).
- Merger with Fauquier closed April 1, 2021; headcount cut from 215 to 188 FTEs.
- ROAA 0.65% (0.95% ex merger costs) vs 0.89% (1.05% ex merger costs) year ago.
- Company established dividend reinvestment and direct stock purchase plan administered by AST.