secwatch.observer — SEC 8-K summary
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Issuer:     FIRST NATIONAL CORP /VA/ (FXNC)
CIK:        0000719402
Form:       8-K
Filed at:   2022-04-29T23:59:59+00:00
Accession:  0001437749-22-010206
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First National Q1 net income $3.7M, EPS $0.60, up from $2.4M YoY
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719402/000143774922010206/0001437749-22-010206-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719402/000143774922010206/fxnc20220411_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-010206

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer