secwatch.observer — SEC 8-K summary
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Issuer:     FIRST NATIONAL CORP /VA/ (FXNC)
CIK:        0000719402
Form:       8-K
Filed at:   2025-04-30T23:59:59+00:00
Accession:  0001437749-25-013652
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719402/000143774925013652/0001437749-25-013652-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719402/000143774925013652/fxnc20250408_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-013652

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