---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-013888"
form_type: "8-K"
ticker: "FXNC"
cik: "0000719402"
company_name: "FIRST NATIONAL CORP /VA/"
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T05:00:43.731544+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First National Q1 net income $3.2M ($0.51 EPS); deposits up 8% annualized; announces Touchstone acquisition

## Summary
- Net income $3.2M, diluted EPS $0.51; ROAA 0.90%, ROAE 11.07%.
- Deposits increased $25.4M (8% annualized); noninterest-bearing deposits stable at 31%.
- Tangible book value per share rose to $18.27 from $17.30 a year ago.
- Agreement to acquire Touchstone Bankshares announced in the quarter.
- NPAs rose to 0.55% of assets from 0.48%; net charge-offs $362k vs $2.7M prior quarter.

## SEC filing metadata
- accession: 0001437749-24-013888
- form_type: 8-K
- ticker: FXNC
- cik: 0000719402
- company_name: FIRST NATIONAL CORP /VA/
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/719402/000143774924013888/0001437749-24-013888-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/719402/000143774924013888/fxnc20240419_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-013888
- JSON: https://secwatch.observer/filing/0001437749-24-013888.json
- Plain text: https://secwatch.observer/filing/0001437749-24-013888.txt

## Key facts
- Earnings Releases
  FIRST NATIONAL CORP /VA/ reported the three months ended March 31, 2024 results: net income $3.2 million, EPS $0.51.
  - Period: the three months ended March 31, 2024
  - Net income: $3.2 million
  - EPS: $0.51
  - 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 $3.2 million and diluted earnings per common share of $0.51 for the three months ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/719402/000143774924013888/0001437749-24-013888-index.htm

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