Virginia National Bankshares Corporation (NASDAQ:VABK) reported its third-quarter 2026 earnings on October 29, 2026, disclosing quarterly net income of $6.6 million, or $1.20 per diluted share, for the quarter ended September 30, 2026.

Key Highlights

  • Net income of $6.6 million: The company reported $1.20 per diluted share for Q3 2026, up from $4.6 million, or $0.84 per diluted share, in Q3 2025.
  • Net interest margin (FTE) expanded 30 basis points: The margin reached 3.73% for the three months ended September 30, 2026, compared to 3.43% for the same period in 2025.
  • Efficiency ratio improved to 50.7%: Down from 57.9% in Q3 2025, according to the filing.
  • Book value per share rose to $35.01: As of September 30, 2026, compared to $32.89 as of September 30, 2025.
  • Nonperforming assets declined to $5.9 million: Representing 0.36% of total assets at September 30, 2026, versus $9.2 million at December 31, 2025.
  • Cash dividend of $0.36 per share: Totaling $2.0 million, declared and paid during the third quarter of 2026.

Virginia National Bankshares Reports Q3 2026 Earnings Growth

According to the filing, Virginia National Bankshares Corporation attributed the year-over-year increase in net income primarily to a 26 basis point increase in loan yields, a 9 basis point reduction in cost of funds, and a payout from bank owned life insurance following the death of a former employee. Net interest income for the three months ended September 30, 2026 was $14.5 million, an increase of $1.5 million, or 11.2%, compared to the same quarter in 2025. On a year-to-date basis, net interest income reached $41.2 million through September 30, 2026, versus $38.2 million for the nine months ended September 30, 2025.

The filing reported that gross loans outstanding totaled $1.2 billion as of September 30, 2026, reflecting an increase of $12.3 million, or 1.0%, from September 30, 2025. Deposits stood at $1.4 billion as of September 30, 2026, a $14.6 million increase from September 30, 2025 but a $32.2 million decrease from December 31, 2025. The company disclosed that outstanding Federal Home Loan Bank of Atlanta borrowings were $20.0 million as of September 30, 2026, and that it held no brokered deposits and had approximately $227.0 million in unused borrowing facilities.

Noninterest income for Q3 2026 increased $0.3 million, or 24.1%, compared to Q3 2025, driven primarily by a $421 thousand bank owned life insurance payout, partially offset by $157 thousand less in debit/credit card and ATM fees. Noninterest expense decreased by $134 thousand, or 1.6%, for the three months ended September 30, 2026, compared to the same prior-year quarter, which the filing attributed to continued management of administrative expenses. The allowance for credit losses on loans as a percentage of total loans was 0.66% as of September 30, 2026, compared to 0.67% at December 31, 2025.

What Was Disclosed

Virginia National Bankshares disclosed Q3 2026 earnings results, including net income, net interest margin, loan and deposit balances, asset quality metrics, noninterest income and expense trends, and a quarterly cash dividend of $0.36 per share paid during the quarter ended September 30, 2026.