---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-020828"
form_type: "8-K"
ticker: "FXNC"
cik: "0000719402"
company_name: "FIRST NATIONAL CORP /VA/"
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-13T01:22:17.228860+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# First National Q2 net income $3.5M ($0.56 EPS), down from $3.8M in Q1 and year ago

## Summary
- Net income $3.5M, diluted EPS $0.56; prior Q1 $3.8M ($0.61) and Q2 2022 $3.8M ($0.61).
- Net interest margin fell 24 bps to 3.36%; cost of funds rose to 1.13% from 0.77% linked quarter.
- Nonperforming assets improved to 0.05% of total assets from 0.13% in prior quarter.
- Loans grew $12.2M (5% annualized); deposits flat at $1.2B; noninterest-bearing deposits 32%.
- Dividend maintained at $0.15/share; repurchased 32,301 shares for $481k in Q2.

## SEC filing metadata
- accession: 0001437749-23-020828
- form_type: 8-K
- ticker: FXNC
- cik: 0000719402
- company_name: FIRST NATIONAL CORP /VA/
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/719402/000143774923020828/0001437749-23-020828-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/719402/000143774923020828/fxnc20230523_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-020828
- JSON: https://secwatch.observer/filing/0001437749-23-020828.json
- Plain text: https://secwatch.observer/filing/0001437749-23-020828.txt

## Key facts
- Earnings Releases
  FIRST NATIONAL CORP /VA/ reported the three months ended June 30, 2023 results: net income $3.5 million, EPS $0.56.
  - Period: the three months ended June 30, 2023
  - Net income: $3.5 million
  - EPS: $0.56
  - Result: reported results
  source text: 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 $3.5 million and diluted earnings per common share of $0.56 for the three months ended June 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/719402/000143774923020828/0001437749-23-020828-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.