Virginia National Bankshares Q3 net income $4.7M ($0.86 EPS), down from $5.8M ($1.08) YoY

Virginia National Bankshares Corp

2023-Q3 EPS reported $2.99

Net income fell 19% to $4.7M ($0.86 diluted EPS) from $5.8M ($1.08) in Q3 2022.
Loan portfolio grew 5% sequentially; loan yield rose to 5.53% from 4.56% YoY.
Noninterest expense decreased $1.2M (12%) YoY due to merger efficiencies and headcount reduction.
Deposits declined 7.3% from year-end but increased 1.6% from Q2; no brokered deposits.
Nonperforming assets remained low at 0.13% of total assets; 92% of past-due loans are government-guaranteed.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Virginia National Bankshares Corp reported for the quarter ended September 30, 2023 results: net income $4.7 million, EPS $0.86 per diluted share.

Period: for the quarter ended September 30, 2023
Net income: $4.7 million
EPS: $0.86 per diluted share
Result: reported results

Exact text from the filing

Virginia National Bankshares Corporation (NASDAQ: VABK) (the “Company”) today reported quarterly net income of $4.7 million, or $0.86 per diluted share, for the quarter ended September 30, 2023, compared to $5.8 million, or $1.08 per diluted share, recognized for the quarter ended September 30, 2022.

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Source: SEC EDGAR

accession 0000950170-23-054248

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