secwatch.observer — SEC 8-K summary
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Issuer:     FIRST NATIONAL CORP /VA/ (FXNC)
CIK:        0000719402
Form:       8-K
Filed at:   2023-10-27T23:59:59+00:00
Accession:  0001437749-23-029168
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First National Q3 net income $3.1M, EPS $0.50; NPA ratio rises to 0.23%
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- Net income of $3.1M, down from $3.5M in Q2 2023 and $4.5M in Q3 2022; diluted EPS $0.50.
- Net interest margin stabilized at 3.35%; loans increased $22.3M (10% annualized) to $943.6M.
- Nonperforming assets rose to $3.1M (0.23% of assets) from $722K (0.05%) in prior quarter.
- Deposits stable at $1.2B; noninterest-bearing deposits comprised 33% of total deposits.
- Tangible book value $17.38 per share; quarterly dividend maintained at $0.15/share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719402/000143774923029168/0001437749-23-029168-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719402/000143774923029168/fxnc20230904_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-029168

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