secwatch.observer — SEC 8-K summary
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Issuer:     Virginia National Bankshares Corp (VABK)
CIK:        0001572334
Form:       8-K
Filed at:   2021-10-29T23:59:59+00:00
Accession:  0000950170-21-002518
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Virginia National Q3 net income up 68% to $3.1M; diluted EPS $0.59 excluding merger costs $0.86
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1572334/000095017021002518/0000950170-21-002518-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1572334/000095017021002518/vabk-20211029.htm
  HTML page:      https://secwatch.observer/filing/0000950170-21-002518

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer