First National Q1 net income $1.52M, adjusted EPS $0.35; net interest margin 3.77%

FIRST NATIONAL CORP /VA/

2025-Q1 EPS reported $0.18 revenue$3,275,000

Net income $1.52M ($0.18/share); adjusted net income $3.1M ($0.35/share) excluding $1.9M merger costs.
Net interest margin 3.77%, down from 3.83% in Q4 2024; net interest income fell $908K to $17.5M.
Total assets $2.033B, up 40.5% YoY; loans $1.436B, up 49.5% YoY from Touchstone acquisition.
Completed Touchstone system conversion; pre-tax merger costs $1.9M in Q1; duplicative costs ongoing until late Feb.
Net charge-offs $2.4M (primarily C&I loans); NPAs improved to 0.24% of total assets.

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