First National Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 13, 2026, reporting third-quarter net income of $6.9 million and total assets of approximately $2.07 billion.

Key Highlights

  • Net income of $6.9 million for the three months ended September 30, 2026, compared to $5.55 million in the same period of 2025, according to the filing.
  • Basic earnings per share of $0.76 for Q3 2026, up from $0.62 in Q3 2025, as reported in the consolidated statements of income.
  • Total assets reached $2,074,860 thousand as of September 30, 2026, compared to $2,037,978 thousand at December 31, 2025.
  • Net interest income of $21,206 thousand for the third quarter of 2026, versus $18,295 thousand for the same quarter in 2025.
  • Total loans, net of allowance, were $1,485,813 thousand as of September 30, 2026, up from $1,435,026 thousand at December 31, 2025.
  • Nine-month net income of $17,530 thousand for the period ended September 30, 2026, compared to $12,199 thousand for the same period in 2025.
  • Shares outstanding were 9,057,923 as of November 6, 2026, as disclosed on the cover page.

First National Corporation's Financial Results for the Quarter and Nine Months Ended September 30, 2026

First National Corporation (NASDAQ:FXNC), a Virginia-chartered bank holding company headquartered at 112 West King Street, Strasburg, Virginia, reported third-quarter 2026 net income of $6,900 thousand, up from $5,550 thousand in the third quarter of 2025, according to its unaudited consolidated statements of income. Total interest and dividend income for the quarter was $26,920 thousand, compared to $25,087 thousand in the prior-year period. Total interest expense declined to $5,714 thousand from $6,792 thousand a year earlier, resulting in net interest income of $21,206 thousand for the quarter. The company recorded no provision for credit losses in Q3 2026, versus $193 thousand in Q3 2025.

For the nine months ended September 30, 2026, the filing reported total interest and dividend income of $76,882 thousand and net interest income of $59,863 thousand, compared to $74,273 thousand and $54,294 thousand, respectively, in the same period of 2025. Noninterest income for the nine-month period was $11,926 thousand, essentially flat compared to $12,000 thousand in the prior-year period. Total noninterest expense for the nine months was $49,115 thousand, slightly below $49,308 thousand recorded in the first nine months of 2025, which included $2,032 thousand in merger expense not present in 2026.

On the balance sheet as of September 30, 2026, total deposits were reported at $1,828,740 thousand, up from $1,799,548 thousand at December 31, 2025. Total shareholders' equity was $195,553 thousand, compared to $186,196 thousand at year-end 2025. Retained earnings grew to $121,854 thousand from $108,937 thousand. Accumulated other comprehensive loss, net, widened to ($16,905) thousand from ($12,239) thousand. The allowance for credit losses on loans was $14,412 thousand as of September 30, 2026, compared to $14,719 thousand at December 31, 2025. The company is classified as a non-accelerated filer and smaller reporting company under SEC definitions.

What Was Disclosed

First National Corporation disclosed unaudited financial results for the three and nine months ended September 30, 2026, including income statement, balance sheet, comprehensive income, cash flows, and changes in shareholders' equity, along with accompanying notes and management's discussion.