secwatch.observer — SEC 8-K summary
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Issuer:     FIRST NATIONAL CORP /VA/ (FXNC)
CIK:        0000719402
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001437749-24-013888
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719402/000143774924013888/0001437749-24-013888-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719402/000143774924013888/fxnc20240419_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-013888

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