MARKETS / NASDAQ / Financials / Banks / FXNC

NASDAQ · STATE COMMERCIAL BANKS · SMALL CAP

First National Corp. FXNC

17 fiscal years on record · USD · FY2025 reported · SEC filings only

Net income

$17.7M

▲ 154.1% YoY

Free cash flow

$20.9M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

The Company owns all of the stock of its primary operating subsidiary, First Bank (the Bank), which is a commercial bank chartered under Virginia law. The Bank offers loan, deposit, and wealth management products and services. The Bank’s products and services are delivered through 33 bank branch offices, one loan production office, and a customer service center in a retirement community. At December 31, 2025, the Bank employed a total of 308 full-time equivalent employees. No material part of the business of the Company is dependent upon a single or a few customers, and the loss of any single customer would not have a materially adverse effect upon the business of the Company. The Company’s subordinated debt is senior in right of payment compared to its common stock and all current and future junior subordinated debt obligations.

Written from the business description in First National Corporation's annual report to the U.S. Securities and Exchange Commission, filed 25 March 2026. Every sentence was checked against that document before publication.

Growth

Revenue, FY2025 · full 17-year series below

Compound annual growth

Net income

+1.8%

+14.9%

+20.9%

Returned to shareholders

+18.6%

+22.4%

+28.3%

3 yrs

5 yrs

10 yrs

15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

ROE

FY2025 · ROE 10.0%

10%20%-10%-20%

200920172025

Three returns, three denominators.

Return on equity10.0%

Return on assets0.9%

Return on capital employedNot available: we don't have total assets or current liabilities for this period.

Gross margin·

Operating margin·

Net margin·

EBITDAUSD 24.7M

Each USD of equity produced 10 cents of profit this year.

Cash & shareholders

USD 5.5M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 20.9

10M20M-10M-20M

200920172025

Net buybacks $M Dividends $M

FY2025 · Dividends 5.5 · Net buybacks ·

2M4M

20092011201520172019202120232025

Dividends paidUSD 5.5M

Net buybacks·

Share of profit31.2%

Consecutive raises1 year (since the 2024 share-count change)

USD 5.5M in dividends — 31% of the year's profit went back to shareholders.

Total assetsUSD 2.0B

EquityUSD 186.2M

CashUSD 160.9M

DepositsUSD 1.8B

Equity funds 9% of total assets.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data

FXNC, 17-year financial record
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌
Operating income $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	◌	◌	◌
EBITDA $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	◌	◌	◌
Income tax $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	−0.0	0.0	0.0	−0.0	0.0
Net income $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	−0.0	−0.0	0.0
Free cash flow $B	0.0	−0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
EPS, diluted $	1.96	1.00	1.53	2.68	1.86	1.82	1.92	2.04	1.30	1.20	0.31	1.32	1.83	0.48	−4.01	−1.53	0.49
Dividend / sh $	0.64	0.60	0.60	0.56	0.48	0.44	0.36	◌	◌	0.12	0.10	0.07	◌	◌	0.20	0.56	0.56
Payout %	31	58	37	20	24	23	18	9	10	9	17	4	—	—	−5	−40	71
ROE %	10.0	4.9	8.6	14.9	10.3	10.9	13.3	16.2	11.7	12.0	5.0	13.5	20.1	6.8	−25.6	−7.0	3.9
Shares out B	0.01	0.01	0.01	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Other companies filing in the same sector

UNH · BRK-A · BRK-B · CI · ELV · CNC

Provenance

Company facts, as filed

How we verify · 0 failures in 49 reconciliationsAUDITED

Reconciled in 17 of the 17 fiscal years we could check. Three checks were skipped: the share count is not tagged before 2010. Three checks were skipped: the balance sheet is not tagged before 2010.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures

ActivityState Commercial Banks

Listed onNASDAQ

Incorporated inVirginia

Fiscal year endsDecember 31

SEC categorysmaller reporting company

Data on record since2009