secwatch.observer — SEC 8-K summary
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Issuer:     FIRST NATIONAL CORP /VA/ (FXNC)
CIK:        0000719402
Form:       8-K
Filed at:   2022-07-28T23:59:59+00:00
Accession:  0001437749-22-017967
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First National Q2 net income $3.8M ($0.61 EPS); loans up 20% annualized
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- Net income $3.8M ($0.61/sh) vs $3.3M ($0.69/sh) a year ago; provision for loan losses $400K vs $1.0M recovery.
- Net interest income $11.3M, +7% linked quarter; net interest margin 3.42% vs 3.19%.
- Loans +$43.7M (20% annualized); noninterest-bearing deposits +$13.5M linked quarter.
- Efficiency ratio improved to 62.69% from 64.36%; ROAA 1.08%, ROAE 15.04%.
- Total assets $1.4B, +38% YoY; acquired Bank of Fincastle in Q3 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719402/000143774922017967/0001437749-22-017967-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719402/000143774922017967/fxnc20220601_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-017967

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