secwatch.observer — SEC 8-K summary
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Issuer:     Virginia National Bankshares Corp (VABK)
CIK:        0001572334
Form:       8-K
Filed at:   2022-02-18T23:59:59+00:00
Accession:  0000950170-22-001493
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Virginia National Bankshares posts record 2021 net income of $10.0M, up 25% YoY
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- Net income $10.0M for FY2021, up 25% from $8.0M in FY2020; Q4 net income $5.2M, double prior year.
- Diluted EPS $2.13 for 2021 (down from $2.95) due to increased share count from Fauquier merger.
- Adjusted net income (excl. merger expenses) $15.6M, or $3.31 per diluted share.
- Headcount reduced from 215 (Apr 1, 2021) to 173 (Dec 31, 2021) reflecting merger cost savings.
- ROAE for Q4 2021 was 12.86%, up from 12.75% in Q4 2020.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1572334/000095017022001493/0000950170-22-001493-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1572334/000095017022001493/vabk-20220218.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-001493

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