FIRST NATIONAL CORP /VA/ — fact timeline

FIRST NATIONAL CORP /VA/ shareholders approved Ratification of the appointment of Yount, Hyde & Barbour, P.C. as the Company's independent registered public accounting firm for the year ending December 31, 2026 at the 2026-05-13 meeting.

“Proposal 2 - Ratification of Appointment of Independent Registered Public Accounting Firm The Company's shareholders approved the ratification of the Audit Committee's selection of Yount, Hyde & Barbour, P.C. as the Company's independent registered public accounting firm for the year ending December 31, 2026. The votes cast for and against this proposal, as well as the votes abstained, were as follows: For Against Abstain 6,773,790 26,530 1,435”

FIRST NATIONAL CORP /VA/ shareholders approved Election of twelve directors to serve for a term of one year at the 2026-05-13 meeting.

“Proposal 1 - Election of Directors The Company's shareholders elected all twelve nominees for director. For each nominee, the votes cast for and against, as well as withheld and broker non-votes, were as follows: Director Nominee For Withheld Broker Non-Votes Jason C. Aikens 5,576,274 152,235 1,073,246 Emily Marlow Beck 5,556,759 171,750 1,073,246 Boyce E. Brannock 5,579,486 149,023 1,073,246 W. Michael Funk 5,569,066 159,443 1,073,246 Scott C. Harvard 5,530,679 197,830 1,073,246 George Edwin Holt, III 5,584,248 144,261 1,073,246 Toni T. Lee-Andrews 5,553,067 175,442 1,073,246 Kirtesh Patel 5,576,259 152,250 1,073,246 Gerald F. Smith, Jr. 5,549,411 179,098 1,073,246 Norman D. Wagstaff, Jr. 5,552,777 175,732 1,073,246 James R. Wilkins, III 5,559,781 168,728 1,073,246 William S. Wilkinson 5,564,284 164,225 1,073,246”

FIRST NATIONAL CORP /VA/ reported first quarter ended March 31, 2026 results: net income $4.9 million, EPS $0.54.

“reported consolidated net income of $4.9 million and basic and diluted earnings per common share of $0.54 for the first quarter ended March 31, 2026.”

Brad E. Schwartz was appointed as Executive Vice President and Chief Financial Officer at FIRST NATIONAL CORP /VA/.

“On March 7, 2025, First National Corporation (the “Company”) appointed Brad E. Schwartz as Executive Vice President and Chief Financial Officer of the Corporation and of its wholly owned subsidiary, First Bank, effective March 31, 2025.”

Bruce E. Thomas was appointed as interim Chief Financial Officer at FIRST NATIONAL CORP /VA/.

“The Company has appointed Bruce E. Thomas as interim Chief Financial Officer of the Company and the Bank, effective December 2, 2024.”

M. Shane Bell departed as Executive Vice President and Chief Financial Officer at FIRST NATIONAL CORP /VA/.

“On November 15, 2024, M. Shane Bell notified the Board of Directors of First National Corporation (the “Company”) and its wholly-owned subsidiary, First Bank (the “Bank”), of his resignation as Executive Vice President and Chief Financial Officer of the Company and the Bank, effective December 2, 2024.”

FIRST NATIONAL CORP /VA/: Amended Article II(A) of the By-laws to increase board size from 10 to 13 members (effective 2024-10-01).

“On October 1, 2024, the Board of Directors of the Company amended Article II(A) of the Company’s By-laws, which was effective upon consummation of the Merger. The amendment to Article II(A) increased the size of the Board from 10 to 13 members.”

FIRST NATIONAL CORP /VA/ completed an acquisition involving Touchstone Bankshares, Inc. for 0.8122 shares of First National common stock per one share of Touchstone Stock (closed 2024-10-01).

“(collectively, “Touchstone Stock”) was converted into the right to receive, without interest, a number of shares of First National common stock equal to the exchange ratio of 0.8122 shares of First National common stock per one share of Touchstone Stock (the “Merger Consideration”). Cash will also be paid in lieu of fractional shares. On or around September”

Norman D. Wagstaff Jr. was appointed as director at FIRST NATIONAL CORP /VA/.

“Effective upon the consummation of the Merger on October 1, 2024, the Company’s board of directors increased in size from 10 to 13 directors and Ms. Toni T. Lee-Andrews, along with Messrs. William S. Wilkinson and Norman D. Wagstaff, Jr., each a former director of Touchstone, were appointed as directors of the Company”

William S. Wilkinson was appointed as director at FIRST NATIONAL CORP /VA/.

“Effective upon the consummation of the Merger on October 1, 2024, the Company’s board of directors increased in size from 10 to 13 directors and Ms. Toni T. Lee-Andrews, along with Messrs. William S. Wilkinson and Norman D. Wagstaff, Jr., each a former director of Touchstone, were appointed as directors of the Company”

Toni T. Lee-Andrews was appointed as director at FIRST NATIONAL CORP /VA/.

“Effective upon the consummation of the Merger on October 1, 2024, the Company’s board of directors increased in size from 10 to 13 directors and Ms. Toni T. Lee-Andrews, along with Messrs. William S. Wilkinson and Norman D. Wagstaff, Jr., each a former director of Touchstone, were appointed as directors of the Company”

FIRST NATIONAL CORP /VA/ shareholders approved Ratification of appointment of Yount, Hyde & Barbour, P.C. as independent registered public accounting firm at the 2024-05-08 meeting.

“The Company's shareholders approved the ratification of the Audit Committee's selection of Yount, Hyde & Barbour, P.C. as the Company's independent registered public accounting firm for the year ending December 31, 2024.”

FIRST NATIONAL CORP /VA/ shareholders approved Election of ten directors at the 2024-05-08 meeting.

“An Annual Meeting of Shareholders of First National Corporation (the "Company") was held on May 8, 2024 for the purpose of considering and acting upon the following matters: (1) The election of ten directors to serve for a term of one year; (2) The ratification of the appointment of Yount, Hyde & Barbour, P.C.”

FIRST NATIONAL CORP /VA/ reported the three months ended March 31, 2024 results: net income $3.2 million, EPS $0.51.

“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.”

FIRST NATIONAL CORP /VA/ reported the fourth quarter ended December 31, 2023 results: net income net loss of $851 thousand, EPS $0.14.

“For the fourth quarter ended December 31, 2023, the Company reported unaudited consolidated net loss of $851 thousand and diluted loss per common share of $0.14.”

FIRST NATIONAL CORP /VA/ reported the year ended December 31, 2023 results: net income $9.6 million, EPS $1.53.

“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 $9.6 million and diluted earnings per common share of $1.53 for the year ended December 31, 2023.”

FIRST NATIONAL CORP /VA/ reported the three-months ending September 30, 2023 results: net income $3.1 million, EPS $0.50.

“On October 26, 2023, First National Corporation issued a press release reporting its financial results for the period ended September 30, 2023.”

FIRST NATIONAL CORP /VA/ reported the three months ended June 30, 2023 results: net income $3.5 million, EPS $0.56.

“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 $3.5 million and diluted earnings per common share of $0.56 for the three months ended June 30, 2023.”

FIRST NATIONAL CORP /VA/ shareholders approved Approval of the Company's 2023 Stock Incentive Plan at the 2023-05-10 meeting.

“Proposal 3 - Approval of the Company's 2023 Stock Incentive Plan The Company's shareholders approved the Company's 2023 Stock Incentive Plan. The votes cast for and against this proposal, as well as the votes withheld and broker non-votes, were as follows: For Against Abstain Broker Non-Votes 3,538,790 160,285 28,726 1,303,663”

FIRST NATIONAL CORP /VA/ shareholders approved Ratification of the appointment of Yount, Hyde & Barbour, P.C. as the Company's independent registered public accounting firm for the year ending December 31, 2023 at the 2023-05-10 meeting.

“Proposal 2 - Ratification of Appointment of Independent Registered Public Accounting Firm The Company's shareholders approved the ratification of the Audit Committee's selection of Yount, Hyde & Barbour, P.C. as the Company's independent registered public accounting firm for the year ending December 31, 2023. The votes cast for and against this proposal, as well as the votes abstained, were as follows: For Against Abstain 4,959,202 9,914 62,348”

FIRST NATIONAL CORP /VA/ shareholders approved Election of ten directors to serve for a term of one year at the 2023-05-10 meeting.

“Proposal 1 - Election of Directors The Company's shareholders elected all ten nominees for director. For each nominee, the votes cast for and against, as well as withheld and broker non-votes, were as follows: Director Nominee For Withheld Broker Non-Votes Jason C. Aikens 3,672,082 55,719 1,303,663 Emily Marlow Beck 3,677,402 50,399 1,303,663 Boyce E. Brannock 3,712,015 15,786 1,303,663 Elizabeth H. Cottrell 3,711,335 16,466 1,303,663 W. Michael Funk 3,678,015 49,786 1,303,663 Scott C. Harvard 3,654,620 73,181 1,303,663 George Edwin Holt, III 3,705,436 22,365 1,303,663 Kirtesh Patel 3,672,099 55,702 1,303,663 Gerald F. Smith, Jr. 3,667,087 60,714 1,303,663 James R. Wilkins, III 3,705,814 21,987 1,303,663”

FIRST NATIONAL CORP /VA/ reported first quarter 2023 results: net income $3.8 million, EPS $0.61.

“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 $3.8 million and diluted earnings per common share of $0.61 for the three months ended March 31, 2023.”

FIRST NATIONAL CORP /VA/ reported the year ended December 31, 2022 results: net income $16.8 million, EPS $2.68.

“For the year ended December 31, 2022, unaudited consolidated net income totaled $16.8 million and diluted earnings per common share totaled $2.68.”

FIRST NATIONAL CORP /VA/ reported the fourth quarter ended December 31, 2022 results: net income $4.8 million, EPS $0.76.

“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 $4.8 million and diluted earnings per common share of $0.76 for the fourth quarter ended December 31, 2022.”

Kirtesh Patel was appointed as Director at FIRST NATIONAL CORP /VA/.

“Effective July 1, 2021, the Company’s board of directors increased in size from eight to 11 directors and Messrs. George Edwin Holt, III, C. Ray Sprinkle, and Kirtesh Patel, each a former director of Fincastle, were appointed as directors of the Company, to fill the resulting vacancies on the board.”

C. Ray Sprinkle was appointed as Director at FIRST NATIONAL CORP /VA/.

“Effective July 1, 2021, the Company’s board of directors increased in size from eight to 11 directors and Messrs. George Edwin Holt, III, C. Ray Sprinkle, and Kirtesh Patel, each a former director of Fincastle, were appointed as directors of the Company, to fill the resulting vacancies on the board.”

George Edwin Holt, III was appointed as Director at FIRST NATIONAL CORP /VA/.

“Effective July 1, 2021, the Company’s board of directors increased in size from eight to 11 directors and Messrs. George Edwin Holt, III, C. Ray Sprinkle, and Kirtesh Patel, each a former director of Fincastle, were appointed as directors of the Company, to fill the resulting vacancies on the board.”