First National Corp (FXNC) Financial Statements
Industry: State Commercial Banks
In fiscal 2025, First National reported revenue of $90.3M, up 31.1% from $68.8M the year before. Net income was $17.7M (a 19.6% net margin), or $1.96 per diluted share. Net interest income was $73.2M, and the efficiency ratio (noninterest expense / revenue) was 72.5%. Operating activities generated $25.1M of cash, leaving $20.9M of free cash flow. At fiscal year end, First National held $2.04B in total assets against $1.85B in total liabilities, including $160.9M of cash and equivalents.
Open the full interactive First National financials → Quarterly statements, key ratios, valuation history and price charts.
First National Key Stats
| Share Price | $29.44 |
|---|---|
| Market Cap | $267.0M |
| P/E Ratio | 15.0 |
| Revenue YoY Growth | +31.1% |
| 52-Week Range | $21.25 – $32.19 |
| Shares Outstanding | 9.0 million (basic, 2026 Q2) |
First National Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Net Interest Income | $29.5M | $34.8M | $45.6M | $43.4M | $52.5M | $73.2M |
| Provision for Credit Losses | $3.0M | -$650,000 | $1.9M | $6.2M | $7.8M | $2.9M |
| Noninterest Income | $8.2M | $10.2M | $12.6M | $11.8M | $16.4M | $17.0M |
| Noninterest Expense | $23.8M | $32.7M | $35.6M | $37.2M | $52.9M | $65.4M |
| Revenue | $37.7M | $45.0M | $58.2M | $55.2M | $68.8M | $90.3M |
| Pre-Tax Income | $10.9M | $12.9M | $20.7M | $11.8M | $8.0M | $21.9M |
| Income Tax | $2.0M | $2.6M | $4.0M | $2.2M | $1.1M | $4.2M |
| Net Income | $8.9M | $10.4M | $16.8M | $9.6M | $7.0M | $17.7M |
| Diluted EPS | $1.82 | $1.86 | $2.68 | $1.53 | $1.00 | $1.96 |
First National Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $22.8M | $24.0M | $22.5M | $24.0M |
| Net Income | $5.5M | $5.5M | $4.9M | $5.7M |
| Diluted EPS | $0.62 | $0.61 | $0.54 | $0.63 |
First National Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | — | — | — | — | $162.9M | $160.9M |
| Loans (Net) | $622.4M | $819.4M | $913.1M | — | — | $1.44B |
| Total Assets | $950.9M | $1.39B | $1.37B | $1.42B | $2.01B | $2.04B |
| Deposits | $842.5M | $1.25B | $1.24B | $1.23B | $1.80B | $1.80B |
| Total Long-Term Debt | $19.3M | $19.3M | $14.3M | $64.3M | $30.5M | $42.6M |
| Total Liabilities | $866.0M | $1.27B | $1.26B | $1.30B | $1.84B | $1.85B |
| Shareholders' Equity | $84.9M | $117.0M | $108.4M | $116.3M | $166.5M | $186.2M |
First National Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $15.1M | $7.9M | $26.8M | $16.4M | -$22.2M | $25.1M |
| Cash From Investing | -$70.5M | -$126.3M | -$120.1M | -$34.3M | $136.8M | -$29.4M |
| Cash From Financing | $136.9M | $167.1M | -$15.7M | $38.2M | -$38.9M | $2.3M |
| Free Cash Flow | $14.2M | $7.0M | $25.6M | $14.5M | -$25.5M | $20.9M |
Figures from First National's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full First National financials page for every line item.
First National Company Profile
| Ticker | FXNC |
|---|---|
| Exchange | Nasdaq |
| Industry | State Commercial Banks |
| Headquarters | Strasburg, Virginia |
| Incorporated in | Virginia |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0000719402 |
Frequently Asked Questions
What was First National's revenue in fiscal 2025?
First National (FXNC) reported revenue of $90.3M for fiscal 2025.
What is First National's annual revenue history?
First National's annual revenue by fiscal year: 2020: $37.7M; 2021: $45.0M; 2022: $58.2M; 2023: $55.2M; 2024: $68.8M; 2025: $90.3M.
What was First National's net income in fiscal 2025?
First National reported net income of $17.7M for fiscal 2025.
What was First National's earnings per share (EPS) in fiscal 2025?
First National's diluted EPS was $1.96 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did First National generate in fiscal 2025?
First National generated $20.9M of free cash flow in fiscal 2025.
What was First National's revenue last quarter?
In its most recent reported quarter (2026 Q2), First National reported revenue of $24.0M.
How much debt does First National have?
First National reported $42.6M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of First National are outstanding?
First National reported a weighted average of 9.0 million basic shares outstanding in 2026 Q2.
What is First National's market cap?
Based on its latest closing price, First National (FXNC) has a market capitalization of about $267.0M.
When does First National's fiscal year end?
First National's fiscal year end, as registered with the SEC, is December 31.
Where is First National headquartered?
First National lists its business address in Strasburg, Virginia in its SEC filings.