secwatch.observer — SEC 8-K summary
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Issuer:     Virginia National Bankshares Corp (VABK)
CIK:        0001572334
Form:       8-K
Filed at:   2023-10-20T23:59:59+00:00
Accession:  0000950170-23-054248
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1572334/000095017023054248/0000950170-23-054248-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1572334/000095017023054248/vabk-20231020.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-054248

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