---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-046643"
form_type: "8-K"
ticker: "VABK"
cik: "0001572334"
company_name: "Virginia National Bankshares Corp"
filed_at: "2024-04-23T23:59:59+00:00"
generated_at: "2026-06-03T11:55:02.664582+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# VABK Q1 net income $3.6M ($0.68 EPS), down 38% YoY; loans up 20%, NIM compresses

## Summary
- Net income $3.6M ($0.68 diluted EPS) vs $5.8M ($1.08) Q1 2023; net interest income down 18.5% YoY.
- Gross loans $1.1B, up 20% YoY; nonperforming assets 0.19% of total assets.
- Net interest margin (FTE) 2.93%, down from 3.71% YoY; cost of funds stabilized at 211 bps.
- Sold Masonry Capital Management to company officer effective April 1; 6-year revenue-share.
- Book value per share $28.31 vs $26.50 YoY; tangible book value $25.99.

## SEC filing metadata
- accession: 0000950170-24-046643
- form_type: 8-K
- ticker: VABK
- cik: 0001572334
- company_name: Virginia National Bankshares Corp
- filed_at: 2024-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1572334/000095017024046643/0000950170-24-046643-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1572334/000095017024046643/vabk-20240423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-046643
- JSON: https://secwatch.observer/filing/0000950170-24-046643.json
- Plain text: https://secwatch.observer/filing/0000950170-24-046643.txt

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