Record $16.8M net income for 2022; Q4 EPS $0.76

FIRST NATIONAL CORP /VA/

2022-FY EPS reported $2.68 revenue$10,069,000

Q4 net income $4.8M, diluted EPS $0.76; FY2022 net income $16.8M, diluted EPS $2.68 vs $10.4M, $1.86 in FY2021.
Net interest margin improved to 3.70% from 3.58%; loans grew $14.0M (6% annualized) to $920.5M.
Provision for loan losses increased to $1.3M from $200K in Q3, driven by $888K specific reserve on one customer.
Nonperforming assets remained low at 0.21% of assets; net charge-offs $95K.
Cash dividend of $0.14 per share declared, consistent with prior quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FIRST NATIONAL CORP /VA/ reported the fourth quarter ended December 31, 2022 results: net income $4.8 million, EPS $0.76.

Period: the fourth quarter ended December 31, 2022
Net income: $4.8 million
EPS: $0.76
Result: reported results

Exact text from the filing

First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the bank holding company of First Bank (the “Bank”), reported unaudited consolidated net income of $4.8 million and diluted earnings per common share of $0.76 for the fourth quarter ended December 31, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FIRST NATIONAL CORP /VA/ reported the year ended December 31, 2022 results: net income $16.8 million, EPS $2.68.

Period: the year ended December 31, 2022
Net income: $16.8 million
EPS: $2.68
Result: reported results

Exact text from the filing

For the year ended December 31, 2022, unaudited consolidated net income totaled $16.8 million and diluted earnings per common share totaled $2.68.

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39 earnings releases filed in the last 30 days. Browse all earnings releases →

FIRST NATIONAL CORP /VA/ filing history →

Source: SEC EDGAR

accession 0001437749-23-001853

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