First National Corp. reports Q2 adjusted EPS 57c vs 48c last year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 30 2025
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Performance Highlights: First National reported improved earnings in the second quarter, attributed to the acquisition of the Touchstone franchise, net interest margin expansion, and enhanced efficiency as a combined entity.
Growth Challenges: Despite strong liquidity and capital growth, overall growth was limited due to high loan payoff volumes and a focus on managing deposit pricing.
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Analyst Views on FXNC
About FXNC
First National Corporation is a bank holding company for First Bank (the Bank), which is a commercial bank. The Bank offers loan, deposit, and wealth management products and services. Its loan products and services include consumer loans, residential mortgages, home equity loans and commercial loans. Deposit products and services include checking accounts, treasury management solutions, savings accounts, money market accounts, certificates of deposit and individual retirement accounts. Wealth management services include estate planning, investment management of assets, trustee under an agreement, trustee under a will, individual retirement accounts and estate settlement. Its customers include small and medium-sized businesses, individuals, estates, local governmental entities, and non-profit organizations. It operates over 33 branches throughout the Shenandoah Valley, central regions of Virginia, and the Richmond and Roanoke market areas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
First National Bank Q4 Financial Highlights
- Earnings Per Share Growth: First National Bank reported a Q4 GAAP EPS of $0.61, a significant increase from $0.00 a year prior, reflecting enhanced profitability and restored market confidence.
- Slight Decline in ROA: The return on average assets stood at 1.06%, a slight decrease from 1.09% in the previous quarter but still higher than 0.18% a year ago, indicating stability in asset management.
- Significant Loan Growth: The bank experienced a loan growth of $16.3 million for the quarter, translating to an annualized growth rate of 4.6%, suggesting increased activity in the lending market that could boost future revenues.
- Improved Asset Quality: Non-performing assets declined to 0.32% of total loans, demonstrating effective risk management and asset quality control measures, which enhance investor confidence.
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First National Corporation Reports Record Financial Performance for 2025
- Quarterly Net Income Surge: First National Corporation reported a net income of $5.5 million for Q4 2025, rebounding significantly from a loss of $1 million in the same quarter last year, demonstrating a strong financial recovery post-Touchstone integration that boosts investor confidence.
- Earnings Per Share Growth: The company achieved a basic earnings per share of $1.97 for the full year 2025, up 97% from $1.00 in 2024, reflecting successful strategies in customer retention and loan growth that further enhance shareholder returns.
- Significant Loan Growth: The company experienced a loan growth of $16.3 million in Q4, with an annualized growth rate of 4.6%, supported by a team of experienced bankers in the Richmond, Roanoke, and Staunton markets, strengthening its competitive position.
- Increased Shareholder Returns: The company raised its quarterly dividend by 9.7% in Q4 while growing tangible book value per share by 14%, which not only enhances shareholder investment returns but also lays a foundation for future capital growth.
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