secwatch.observer — SEC 8-K summary
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Issuer:     Virginia National Bankshares Corp (VABK)
CIK:        0001572334
Form:       8-K
Filed at:   2024-10-17T23:59:59+00:00
Accession:  0000950170-24-115171
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VABK Q3 net income $4.6M ($0.85 EPS), loan growth 19% YoY, NIM improves to 3.24%
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- Q3 net income $4.6M, $0.85 diluted EPS vs $0.86 in Q3 2023; YTD net income $12.4M ($2.30) vs $16.1M ($2.99).
- Gross loans $1.2B, up 11.2% from Dec 2023 and 19.1% YoY; securities down $141.9M from Dec 2023 deployed to loans.
- Net interest margin (FTE) improved to 3.24% from 3.04% linked quarter; efficiency ratio improved to 58.6% from 62.7%.
- ROA 1.15% (up from 1.05% Q2); ROE 11.44% (up from 11.07% Q2); no brokered deposits.
- CEO cites cost reduction paying off, loan growth momentum, and solid capital liquidity; credit quality strong.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1572334/000095017024115171/0000950170-24-115171-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1572334/000095017024115171/vabk-20241017.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-115171

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