earnings
confidence high
sentiment positive
materiality 0.70
First National Q1 net income $3.7M, EPS $0.60, up from $2.4M YoY
FIRST NATIONAL CORP /VA/
2022-Q1 EPS reported
$0.60
revenue$2,489,000
- Net income $3.7M, diluted EPS $0.60, vs $2.4M ($0.50) in Q1 2021; prior year included $0.07/share merger expenses.
- Net interest income $10.5M, up 40% YoY; net interest margin 3.19% down 8 bps.
- Loans excluding PPP up $21.3M or 11% annualized since Dec 31, 2021; total loans up 31% YoY.
- Noninterest income $2.7M, up 27%; wealth management fees +25%, service charges +38%.
- Nonperforming assets improved to 0.27% of assets from 0.66% a year ago; no provision for loan losses.