---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-054248"
form_type: "8-K"
ticker: "VABK"
cik: "0001572334"
company_name: "Virginia National Bankshares Corp"
filed_at: "2023-10-20T23:59:59+00:00"
generated_at: "2026-06-09T18:30:49.549308+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-054248
- form_type: 8-K
- ticker: VABK
- cik: 0001572334
- company_name: Virginia National Bankshares Corp
- filed_at: 2023-10-20T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1572334/000095017023054248/0000950170-23-054248-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1572334/000095017023054248/vabk-20231020.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-054248
- JSON: https://secwatch.observer/filing/0000950170-23-054248.json
- Plain text: https://secwatch.observer/filing/0000950170-23-054248.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1572334/000095017023054248/0000950170-23-054248-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.