FXNC - Mergers and acquisitions

STRASBURG, Va., Nov. 01, 2024 (GLOBE NEWSWIRE) -- First National Corporation (the "Company" or "First National") (NASDAQ:FXNC), reported unaudited consolidated net income of $2.2 million and basic and diluted earnings per common share of $0.36 for the third quarter of 2024 and adjusted net income(1) of $2.4 million and adjusted basic and diluted earnings per common share(1) of $0.39. (Dollars in thousands, except earnings per share) Three Months Ended   Sept 30, 2024  Jun 30, 2024  Sept 30, 2023 Net income $2,248  $2,442  $3,121 Basic and diluted earnings per share $0.36  $0.39  $0.50 Return on average assets  0.62%  0.68%  0.91%Return on average equity  7.28%  8.31%  10.96%             N

STRASBURG, Va., Jan. 26, 2023 (GLOBE NEWSWIRE) -- 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. This compares to net income of $4.5 million and diluted earnings per common share of $0.71 for the third quarter of 2022. For the year ended December 31, 2022, unaudited consolidated net income totaled $16.8 million and diluted earnings per common share totaled $2.68. This compares to net income of $10.4 million and diluted earnings per common share of $1.86 f

STRASBURG, Va., Oct. 25, 2022 (GLOBE NEWSWIRE) -- 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 $4.5 million and basic and diluted earnings per common share of $0.71 for the third quarter ended September 30, 2022. This compares to net income of $3.8 million and basic and diluted earnings per common share of $0.61 for the second quarter of 2022. THIRD QUARTER HIGHLIGHTS Key highlights of the third quarter ending September 30, 2022, are as follows. Comparisons are to the linked quarterly period ending June 30, 2022, unless otherwise

STRASBURG, Va., July 26, 2022 (GLOBE NEWSWIRE) -- 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, or $0.61 per basic and diluted share, for the second quarter of 2022. This compares to net income of $3.3 million, or $0.69 per basic and diluted share, for the second quarter of 2021. Net income for the second quarter of 2022 included a provision for loan losses totaling $400 thousand, or $316 thousand, net of tax, and net income for the second quarter of 2021 included a recovery of loan losses totaling $1.0 million, or $790 thousand, net of tax, whic

STRASBURG, Va., April 26, 2022 (GLOBE NEWSWIRE) -- 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 $3.7 million, or $0.60 per basic and diluted share, for the first quarter of 2022. This compares to net income of $2.4 million, or $0.50 per basic and diluted share, for the first quarter of 2021, which included merger expenses of $405 thousand, or $320 thousand, net of tax. Merger expenses had a $0.07 per share impact to basic and diluted earnings per share in the first quarter of 2021. FIRST QUARTER HIGHLIGHTS Key highlights of the first quarter of 2022 are as f

STRASBURG, Va., Jan. 31, 2022 (GLOBE NEWSWIRE) -- 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 $2.2 million, or $0.35 per diluted share, for the fourth quarter of 2021, which included $1.3 million of merger expenses and provision for loan losses of $350 thousand. This compares to net income of $3.2 million, or $0.65 per diluted share for the fourth quarter of 2020 that included recovery of loan losses of $200 thousand. For the year ending December 31, 2021, net income totaled $10.4 million, or $1.86 per diluted share, which included $3.5 million of merger exp

STRASBURG, Va., Oct. 29, 2021 (GLOBE NEWSWIRE) -- 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 $2.4 million, or $0.38 per diluted share for the third quarter of 2021, which resulted in return on average assets of 0.71% and return on average equity of 8.64%. This compares to net income of $1.8 million, or $0.36 per diluted share, and return on average assets of 0.74% and return on average equity of 8.52% for the third quarter of 2020. Net income for the third quarter of 2021 included $1.3 million of merger related expenses from the Company's acquisition of The

STRASBURG, Va., July 01, 2021 (GLOBE NEWSWIRE) -- First National Corporation (NASDAQ:FXNC) (the "Company" or "First National"), the one-bank holding company of First Bank, announced today that it has completed the acquisition of The Bank of Fincastle ("Fincastle") effective July 1, 2021 (the "Merger"). Following completion of the Merger, Fincastle was merged with and into First Bank. Pursuant to the previously announced terms of the Merger, each outstanding share of Fincastle common stock is entitled to receive 0.1649 shares of First National's common stock, or $3.30 in cash, or a combination of stock and cash, subject to election and proration such that the aggregate consideration will co