secwatch.observer — SEC 8-K summary
======================================

Issuer:     FIRST NATIONAL CORP /VA/ (FXNC)
CIK:        0000719402
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0001437749-23-001853
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719402/000143774923001853/0001437749-23-001853-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719402/000143774923001853/fxnc20221208_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-001853

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