---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-007711"
form_type: "8-K"
ticker: "VABK"
cik: "0001572334"
company_name: "Virginia National Bankshares Corp"
filed_at: "2024-01-26T23:59:59+00:00"
generated_at: "2026-06-06T16:34:01.893632+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# VABK Q4 net income $3.2M ($0.59 EPS) down 55% YoY; full-year EPS $3.58 from $4.38

## Summary
- Q4 net income $3.2M ($0.59 dil EPS), down from $7.1M ($1.32) in Q4 2022; full-year net income $19.3M ($3.58 dil) vs $23.4M ($4.38).
- Net interest margin (FTE) declined to 2.89% in Q4 from 3.91% a year ago; full-year NIM increased to 3.37% from 3.21%.
- Gross loans grew 16.7% YoY to $1.1B; nonperforming assets 0.17% of total assets (vs 0.08% prior year).
- Noninterest expense decreased 10.5% in Q4 and 11.7% full year; deposits down 4.7% YoY but up 2.8% sequentially.
- Book value per share rose to $28.52 from $25.00; tangible book value per share $26.12 vs $22.31.

## SEC filing metadata
- accession: 0000950170-24-007711
- form_type: 8-K
- ticker: VABK
- cik: 0001572334
- company_name: Virginia National Bankshares Corp
- filed_at: 2024-01-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1572334/000095017024007711/0000950170-24-007711-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1572334/000095017024007711/vabk-20240126.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-007711
- JSON: https://secwatch.observer/filing/0000950170-24-007711.json
- Plain text: https://secwatch.observer/filing/0000950170-24-007711.txt

## Key facts
- Earnings Releases
  Virginia National Bankshares Corp reported quarter ended December 31, 2023 results: net income 3.2 million, EPS 0.59 per diluted share.
  - Period: quarter ended December 31, 2023
  - Net income: 3.2 million
  - EPS: 0.59 per diluted share
  - Result: reported results
  source text: Virginia National Bankshares Corporation (NASDAQ: VABK) (the “Company”) today reported quarterly net income of $3.2 million, or $0.59 per diluted share, for the quarter ended December 31, 2023, compared to $7.1 million, or $1.32 per diluted share, recognized for the quarter ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1572334/000095017024007711/0000950170-24-007711-index.htm

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