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First National (FXNC) Financials

First National logo
$31.64 +0.28 (+0.89%)
Closing price 07/30/2026 04:00 PM Eastern
Extended Trading
$31.64 +0.00 (+0.00%)
As of 04:10 AM Eastern
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Annual Income Statements for First National

Annual Income Statements for First National

This table shows First National's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 1.54 5.91 6.45 10 9.56 8.86 10 17 9.62 9.89 18
Consolidated Net Income / (Loss)		 2.66 5.91 6.45 10 9.56 8.86 10 17 9.62 6.97 18
Net Income / (Loss) Continuing Operations		 2.66 5.91 6.45 10 9.56 8.86 10 17 9.62 9.89 18
Total Pre-Tax Income 		3.61 8.26 10 12 12 11 13 21 12 8.05 22
Total Revenue		 29 32 34 37 37 38 45 58 55 72 90
Net Interest Income / (Expense)		 21 23 25 28 28 29 35 46 43 52 73
Total Interest Income		 22 25 28 31 33 33 37 49 58 76 99
Loans and Leases Interest Income		 19 22 24 27 29 29 33 42 49 63 85
Investment Securities Interest Income		 2.83 3.34 3.24 3.73 3.44 3.16 4.12 6.45 6.62 6.16 7.37
Deposits and Money Market Investments Interest Income		 0.20 0.24 0.34 0.54 0.50 0.19 0.21 1.22 1.81 6.49 6.91
Federal Funds Sold and Securities Borrowed Interest Income		 - - - - - 0.00 0.01 - 0.00 0.19 0.04
Total Interest Expense		 1.44 1.98 2.39 3.51 4.89 3.38 2.30 3.82 14 24 26
Deposits Interest Expense		 1.15 1.35 1.72 2.76 4.10 2.59 1.42 3.27 14 21 24
Long-Term Debt Interest Expense		 0.29 0.63 0.66 0.76 0.78 0.79 0.89 0.55 0.55 0.87 1.95
Federal Funds Purchased and Securities Sold Interest Expense		 0.00 0.00 - 0.00 0.00 - - 0.00 0.00 0.00 0.00
Other Interest Expense		 - - - - - - - 0.00 0.10 2.03 0.01
Total Non-Interest Income		 8.34 8.49 8.29 9.16 8.54 8.25 10 13 12 16 17
Other Service Charges		 7.62 7.81 7.49 0.52 7.93 7.61 9.57 11 11 16 16
Net Realized & Unrealized Capital Gains on Investments		 0.35 0.15 0.08 0.09 0.16 0.14 0.08 2.86 0.23 2.81 0.30
Other Non-Interest Income		 0.37 0.53 0.72 8.56 0.46 0.47 0.53 -1.41 0.63 0.76 1.14
Provision for Credit Losses		 -0.10 0.00 0.10 0.60 0.45 3.00 -0.65 1.85 6.15 7.85 2.89
Total Non-Interest Expense		 26 23 23 24 24 24 33 36 37 53 65
Salaries and Employee Benefits		 14 13 13 13 14 13 18 21 21 25 34
Net Occupancy & Equipment Expense		 3.65 3.76 3.74 2.32 4.00 4.13 5.92 5.51 5.58 7.16 11
Marketing Expense		 0.53 0.56 0.58 0.55 0.65 0.36 0.67 0.81 0.91 1.04 1.18
Property & Liability Insurance Claims		 0.38 0.43 0.32 0.29 0.05 0.25 0.35 0.46 0.63 0.86 1.29
Other Operating Expenses		 6.50 5.02 4.86 6.85 5.74 5.61 7.98 8.09 9.06 10 15
Amortization Expense		 0.64 0.77 0.62 0.46 0.30 0.15 0.03 0.02 0.02 0.46 1.77
Restructuring Charge		 - - - - - - - - 0.00 8.11 2.16
Other Special Charges		 - 0.01 0.25 - - - - - - 0.00 -0.08
Income Tax Expense		 0.96 2.35 3.73 2.29 2.24 2.05 2.59 3.95 2.18 1.08 4.24
Basic Earnings per Share		 $0.31 $1.20 $1.30 $2.05 $1.92 $1.82 $1.87 $2.69 $1.54 $1.00 $1.97
Weighted Average Basic Shares Outstanding		 4.92M 4.94M 4.95M 4.96M 4.97M 4.87M 6.25M 6.28M 6.28M 8.99M 9.04M
Diluted Earnings per Share		 $0.31 $1.20 $1.30 $2.04 $1.92 $1.82 $1.86 $2.68 $1.53 $1.00 $1.96
Weighted Average Diluted Shares Outstanding		 4.92M 4.94M 4.95M 4.96M 4.97M 4.87M 6.25M 6.28M 6.28M 8.99M 9.04M
Weighted Average Basic & Diluted Shares Outstanding		 4.92M 4.94M 4.95M 4.96M 4.97M 4.87M 6.25M 6.28M 6.28M 8.99M 9.04M
Cash Dividends to Common per Share		 $0.10 $0.12 - - $0.36 $0.44 $0.48 $0.56 $0.60 $0.61 $0.64

Quarterly Income Statements for First National

This table shows First National's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 3.30 -1.03 3.21 2.44 1.97 -0.93 1.60 5.05 5.87 5.18 4.89
Consolidated Net Income / (Loss)		 3.12 -0.85 3.21 2.44 2.25 -0.93 1.60 5.05 5.55 5.50 4.89
Net Income / (Loss) Continuing Operations		 3.30 -1.03 3.21 2.44 1.97 -0.93 1.60 5.05 5.87 5.18 4.89
Total Pre-Tax Income 		3.85 -1.17 4.01 3.12 2.79 -1.88 1.90 6.34 6.82 6.89 6.07
Total Revenue		 14 14 15 14 15 25 21 22 23 24 23
Net Interest Income / (Expense)		 11 11 11 11 12 18 17 19 18 19 19
Total Interest Income		 15 15 16 17 17 25 24 25 25 25 24
Loans and Leases Interest Income		 13 13 13 14 14 22 21 22 21 22 21
Investment Securities Interest Income		 1.65 1.65 1.56 1.47 1.43 1.70 1.67 1.68 1.92 2.09 2.14
Deposits and Money Market Investments Interest Income		 0.34 0.37 1.29 1.58 1.54 2.09 1.67 1.89 1.73 1.62 1.17
Federal Funds Sold and Securities Borrowed Interest Income		 - - 0.00 0.00 0.00 - 0.04 0.00 0.00 0.00 0.00
Total Interest Expense		 3.95 4.47 5.48 5.56 5.70 7.13 6.57 6.62 6.79 6.27 5.65
Deposits Interest Expense		 3.81 4.23 4.77 4.82 4.96 6.42 6.04 6.08 6.25 5.93 5.41
Long-Term Debt Interest Expense		 0.14 0.14 0.14 0.14 0.14 0.46 0.53 0.53 0.55 0.34 0.23
Other Interest Expense		 0.00 0.09 0.58 0.61 0.60 0.25 0.00 0.00 0.00 0.00 0.01
Total Non-Interest Income		 3.05 3.07 4.05 2.69 3.20 6.44 3.61 3.89 4.50 5.02 3.82
Other Service Charges		 3.05 2.49 3.90 2.54 2.70 6.33 3.37 3.58 4.21 4.63 3.57
Net Realized & Unrealized Capital Gains on Investments		 0.00 0.23 - 0.00 0.04 - 0.00 0.08 0.33 - 0.00
Other Non-Interest Income		 0.18 0.17 0.15 0.15 0.19 0.26 0.25 0.23 0.28 0.38 0.26
Provision for Credit Losses		 0.10 5.95 1.00 0.40 1.70 4.75 0.83 0.91 0.19 0.95 0.45
Total Non-Interest Expense		 9.78 9.10 9.89 11 10 22 18 15 16 16 16
Salaries and Employee Benefits		 5.51 5.00 5.87 5.84 5.93 7.50 8.69 8.03 8.49 8.45 8.98
Net Occupancy & Equipment Expense		 1.40 1.52 1.42 1.40 1.60 2.68 2.86 2.51 2.58 2.66 2.46
Marketing Expense		 0.20 0.19 0.20 0.27 0.26 0.31 0.22 0.29 0.32 0.35 0.34
Property & Liability Insurance Claims		 0.16 0.15 0.18 0.20 0.20 0.29 0.41 0.32 0.31 0.26 0.23
Other Operating Expenses		 2.51 2.24 2.22 2.46 2.25 2.56 3.78 3.51 3.67 3.81 3.54
Amortization Expense		 0.01 0.00 0.00 0.01 0.00 0.45 0.44 0.44 0.44 0.44 0.43
Restructuring Charge		 - - 0.00 0.48 0.22 - 1.94 0.09 0.00 0.13 0.00
Income Tax Expense		 0.73 -0.32 0.80 0.68 0.55 -0.94 0.30 1.28 1.27 1.39 1.18
Basic Earnings per Share		 $0.50 ($0.13) $0.51 $0.39 $0.36 ($0.26) $0.18 $0.56 $0.62 $0.61 $0.54
Weighted Average Basic Shares Outstanding		 6.26M 6.28M 6.28M 6.28M 8.97M 8.99M 8.99M 8.99M 9.01M 9.04M 9.04M
Diluted Earnings per Share		 $0.50 ($0.14) $0.51 $0.39 $0.36 ($0.26) $0.18 $0.56 $0.62 $0.60 $0.54
Weighted Average Diluted Shares Outstanding		 6.26M 6.28M 6.28M 6.28M 8.97M 8.99M 8.99M 8.99M 9.01M 9.04M 9.04M
Weighted Average Basic & Diluted Shares Outstanding		 6.26M 6.28M 6.28M 6.28M 8.97M 8.99M 8.99M 8.99M 9.01M 9.04M 9.04M
Cash Dividends to Common per Share		 $0.15 - $0.15 $0.15 $0.15 - $0.16 $0.16 $0.16 - $0.17

Annual Cash Flow Statements for First National

This table details how cash moves in and out of First National's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 14 1.76 -1.11 -11 17 82 49 -109 20 76 -1.96
Net Cash From Operating Activities		 4.60 9.01 6.57 14 12 15 7.87 27 16 -22 25
Net Cash From Continuing Operating Activities		 4.60 9.01 6.57 14 12 15 7.87 27 16 -22 25
Net Income / (Loss) Continuing Operations		 2.66 5.91 6.45 10 9.56 8.86 10 17 9.62 6.97 18
Consolidated Net Income / (Loss)		 2.66 5.91 6.45 10 9.56 8.86 10 17 9.62 6.97 18
Provision For Loan Losses		 0.13 0.03 0.10 0.60 0.45 3.00 -0.65 1.85 6.18 7.85 2.89
Depreciation Expense		 1.23 1.36 1.39 1.35 1.34 1.32 1.38 1.50 1.60 1.94 2.76
Amortization Expense		 1.37 1.63 1.27 0.96 0.85 0.83 0.52 -0.15 0.27 -0.10 1.46
Non-Cash Adjustments to Reconcile Net Income		 -0.58 -0.26 0.96 -0.06 -0.02 -1.25 -1.53 1.82 -0.55 -3.27 0.46
Changes in Operating Assets and Liabilities, net		 -0.20 0.35 -3.60 0.77 -0.32 2.34 -2.21 4.96 -0.73 -36 -0.15
Net Cash From Investing Activities		 25 -25 -27 -30 -29 -70 -126 -120 -34 137 -29
Net Cash From Continuing Investing Activities		 25 -25 -27 -30 -29 -70 -126 -120 -34 137 -29
Purchase of Investment Securities		 -175 -64 -61 -51 -53 -108 -266 -171 -56 -29 -68
Sale of Property, Leasehold Improvements and Equipment		 - 0.02 0.00 0.02 0.00 0.05 0.03 0.00 0.05 0.02 1.70
Divestitures		 - - - - - - - - 0.00 70 0.00
Sale and/or Maturity of Investments		 200 39 34 21 24 37 140 51 21 96 37
Net Cash From Financing Activities		 -15 18 19 4.71 34 137 167 -16 38 -39 2.34
Net Cash From Continuing Financing Activities		 -15 18 19 4.71 34 137 167 -16 38 -39 2.34
Net Change in Deposits		 -3.80 19 20 -3.35 -1.60 -17 -6.70 -8.53 56 23 3.86
Issuance of Debt		 4.91 - - - 0.00 4.99 - 0.00 50 -50 25
Repayment of Debt		 -0.03 - - - - - 0.00 -5.00 - 0.00 -13
Repurchase of Common Equity		 -0.00 - 0.00 -0.03 0.00 -2.12 -0.04 -0.18 -0.68 -0.11 -0.15
Payment of Dividends		 -1.74 -0.55 -0.65 -0.93 -1.67 -2.01 -2.51 -3.31 -3.60 -4.04 -5.52
Other Financing Activities, Net		 -0.05 - - 9.02 38 153 176 1.30 -63 -7.84 -7.43
Cash Interest Paid		 1.69 2.17 2.49 3.55 4.90 3.46 2.46 4.00 9.36 23 27
Cash Income Taxes Paid		 0.93 1.97 3.38 1.34 2.18 3.09 2.03 3.37 3.43 2.08 3.40

Quarterly Cash Flow Statements for First National

This table details how cash moves in and out of First National's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -22 37 52 -3.08 -9.12 36 43 -12 -5.00 -28 27
Net Cash From Operating Activities		 3.45 5.08 4.70 3.63 6.14 -37 3.53 4.70 8.44 8.44 6.40
Net Cash From Continuing Operating Activities		 3.45 5.08 4.70 3.63 6.14 -37 3.53 4.70 8.44 8.44 6.40
Net Income / (Loss) Continuing Operations		 3.12 -0.85 3.21 2.44 2.25 -0.93 1.60 5.05 5.55 5.50 4.89
Consolidated Net Income / (Loss)		 3.12 -0.85 3.21 2.44 2.25 -0.93 1.60 5.05 5.55 5.50 4.89
Provision For Loan Losses		 0.10 5.98 1.00 0.40 1.70 4.80 0.83 0.91 0.21 0.94 0.47
Depreciation Expense		 0.40 0.40 0.40 0.44 0.45 0.65 0.67 0.68 0.71 0.71 0.72
Amortization Expense		 0.02 0.09 0.11 0.12 0.11 -0.44 0.71 -0.27 0.52 0.49 0.38
Non-Cash Adjustments to Reconcile Net Income		 0.16 -0.86 0.09 -0.19 0.22 -3.39 -0.28 0.16 0.88 -0.31 -0.23
Changes in Operating Assets and Liabilities, net		 -0.35 0.33 -0.11 0.42 1.41 -37 -0.00 -1.83 0.57 1.11 0.17
Net Cash From Investing Activities		 -17 -16 22 -12 -1.84 129 19 -18 6.43 -37 -16
Net Cash From Continuing Investing Activities		 -17 -16 22 -12 -1.84 129 19 -18 6.43 -37 -16
Purchase of Investment Securities		 -23 -20 -0.31 -0.69 -29 -21 13 -32 -17 -18 -16
Sale of Property, Leasehold Improvements and Equipment		 0.00 0.05 0.00 - - 0.02 0.03 -0.02 1.34 0.34 0.00
Sale and/or Maturity of Investments		 5.37 4.69 23 -12 27 79 6.43 14 22 -19 0.05
Net Cash From Financing Activities		 -8.14 48 24 5.77 -13 -56 20 1.59 -20 0.32 36
Net Cash From Continuing Financing Activities		 -8.14 48 24 5.77 -13 -56 20 1.59 -20 0.32 36
Net Change in Deposits		 8.21 7.95 5.26 5.25 3.13 9.45 2.94 -0.93 5.62 -3.77 -3.52
Repurchase of Common Equity		 -0.06 - -0.10 -0.00 - -0.01 0.00 - - -0.15 -0.19
Payment of Dividends		 -0.90 -0.90 -0.90 -0.90 -0.90 -1.34 -1.35 -1.35 -1.35 -1.48 -1.49
Other Financing Activities, Net		 -15 -9.38 20 1.43 -16 -14 19 -21 0.86 -6.27 41
Cash Interest Paid		 3.78 -0.05 5.37 5.63 -0.11 12 7.34 6.63 6.96 6.44 5.88

Annual Balance Sheets for First National

This table presents First National's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 692 716 739 753 800 951 1,389 1,369 1,419 2,010 2,038
Cash and Due from Banks		 8.25 10 11 13 9.68 13 19 21 17 25 21
Interest Bearing Deposits at Other Banks		 31 31 29 15 36 114 157 46 70 138 140
Trading Account Securities		 172 149 138 143 139 154 323 316 301 274 320
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,450 1,435
Accrued Investment Income		 - - - 2.11 2.07 2.72 3.90 4.54 4.66 6.02 6.47
Premises and Equipment, Net		 21 21 20 20 20 19 22 22 22 35 35
Goodwill		 - - - - - 0.00 3.03 3.03 3.03 3.03 3.03
Intangible Assets		 2.32 1.55 0.93 0.47 0.17 0.02 0.15 0.14 0.12 15 13
Other Assets		 23 23 24 20 24 24 42 957 1,001 64 64
Total Liabilities & Shareholders' Equity		 692 716 739 753 800 951 1,389 1,369 1,419 2,010 2,038
Total Liabilities		 646 664 681 686 723 866 1,272 1,261 1,303 1,844 1,852
Non-Interest Bearing Deposits		 157 168 181 182 190 263 413 427 379 520 510
Interest Bearing Deposits		 470 477 484 489 517 579 836 814 855 1,284 1,290
Short-Term Debt		 - - - - - - - 0.00 50 0.00 25
Accrued Interest Payable		 - - - 1.49 2.13 4.29 4.37 5.42 5.02 9.52 9.64
Long-Term Debt		 14 14 14 14 14 19 19 14 14 30 18
Commitments & Contingencies		 - - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 46 52 58 67 77 85 117 108 116 167 186
Total Preferred & Common Equity		 46 52 58 67 77 85 117 108 116 167 186
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 46 52 58 67 77 85 117 108 116 167 186
Common Stock		 13 13 13 14 14 12 40 41 41 88 89
Retained Earnings		 34 40 46 55 63 69 77 90 94 97 109
Accumulated Other Comprehensive Income / (Loss)		 -1.59 -0.86 -0.96 -1.81 0.72 3.40 0.30 -22 -19 -19 -12

Quarterly Balance Sheets for First National

This table presents First National's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 1,366 1,447 1,458 1,451 2,033 2,041 2,031 2,076
Cash and Due from Banks		 17 14 17 18 27 34 24 23
Interest Bearing Deposits at Other Banks		 33 124 119 108 179 160 166 165
Trading Account Securities		 298 274 268 267 270 294 301 319
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 1,428 1,419 1,450
Accrued Investment Income		 4.50 4.98 4.92 4.79 6.13 6.14 6.24 6.66
Premises and Equipment, Net		 21 22 22 23 35 35 34 34
Goodwill		 3.03 3.03 3.03 3.03 3.03 3.03 3.03 3.03
Intangible Assets		 0.12 0.11 0.11 0.10 15 14 14 13
Other Assets		 989 1,005 1,023 1,026 1,499 67 65 63
Total Liabilities & Shareholders' Equity		 1,366 1,447 1,458 1,451 2,033 2,041 2,031 2,076
Total Liabilities		 1,254 1,329 1,338 1,326 1,865 1,868 1,850 1,887
Non-Interest Bearing Deposits		 404 384 398 383 540 541 511 524
Interest Bearing Deposits		 831 875 868 870 1,285 1,262 1,298 1,313
Short-Term Debt		 - 50 50 50 - 25 - 25
Accrued Interest Payable		 4.79 5.97 7.56 8.07 8.96 9.32 9.44 7.31
Long-Term Debt		 14 14 14 14 31 30 31 18
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 112 118 120 125 169 174 181 189
Total Preferred & Common Equity		 112 118 120 125 169 174 181 189
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 112 118 120 125 169 174 181 189
Common Stock		 41 41 41 41 89 89 89 90
Retained Earnings		 96 96 98 99 97 101 105 112
Accumulated Other Comprehensive Income / (Loss)		 -25 -20 -19 -15 -17 -16 -13 -13

Annual Metrics And Ratios for First National

This table displays calculated financial ratios and metrics derived from First National's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 4,912,662.00 4,926,546.00 4,945,056.00 4,956,897.00 4,968,277.00 4,858,217.00 6,226,418.00 6,262,381.00 6,260,934.00 - 9,010,817.00
DEI Adjusted Shares Outstanding		 4,912,662.00 4,926,546.00 4,945,056.00 4,956,897.00 4,968,277.00 4,858,217.00 6,226,418.00 6,262,381.00 6,260,934.00 - 9,010,817.00
DEI Earnings Per Adjusted Shares Outstanding		 0.54 1.20 1.30 2.04 1.92 1.82 1.66 2.68 1.54 - 1.96
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 11.51% 9.23% 5.70% 9.61% -0.64% 3.21% 19.37% 29.25% -5.15% 24.70% 26.10%
EBITDA Growth		 -51.38% 81.15% 14.09% 14.80% -5.08% -6.62% 13.69% 48.89% -38.12% -27.68% 105.88%
EBIT Growth		 -67.56% 128.75% 23.17% 22.10% -5.06% -7.52% 18.69% 60.29% -43.11% -31.83% 102.04%
NOPAT Growth		 -65.21% 122.49% 9.16% 57.18% -5.71% -7.30% 16.95% 62.15% -42.70% -27.62% 154.13%
Net Income Growth		 -65.21% 122.49% 9.16% 57.18% -5.71% -7.30% 16.95% 62.15% -42.70% -27.62% 154.13%
EPS Growth		 -76.52% 287.10% 8.33% 56.92% -5.88% -5.21% 2.20% 44.09% -42.91% -34.64% 96.00%
Operating Cash Flow Growth		 -34.33% 95.81% -27.08% 109.44% -13.86% 27.34% -47.86% 240.26% -38.78% -235.47% 213.08%
Free Cash Flow Firm Growth		 48.69% -102.71% 238.64% 274.24% -163.02% -282.03% -465.79% 240.01% -258.46% 80.38% -48.82%
Invested Capital Growth		 -12.67% 10.33% 9.07% 11.79% 13.05% 13.89% 30.83% -10.03% 47.22% 9.11% 16.14%
Revenue Q/Q Growth		 1.90% 0.77% 2.82% 13.27% -0.38% -3.78% 3.23% 5.54% -4.18% 19.23% -1.33%
EBITDA Q/Q Growth		 -10.11% 10.65% 2.93% -20.71% 43.72% 4.51% -9.35% 18.72% -34.69% -7.60% 55.21%
EBIT Q/Q Growth		 -22.44% 15.70% 4.47% -23.31% 57.32% 5.34% -8.71% 18.44% -38.07% -6.17% 60.91%
NOPAT Q/Q Growth		 -50.92% 14.32% -5.34% 11.00% 4.31% 5.23% -8.59% 18.28% -36.91% -1.16% 57.14%
Net Income Q/Q Growth		 -50.92% 14.32% -5.34% 11.00% 4.31% 5.23% -8.59% 18.28% -36.91% -1.16% 57.14%
EPS Q/Q Growth		 -62.20% 17.65% -6.47% 11.48% 3.78% 7.06% -16.59% 21.27% -37.04% -10.71% 78.18%
Operating Cash Flow Q/Q Growth		 -7.37% 16.20% -21.70% 21.41% 14.29% 7.52% -57.13% 116.50% -22.85% -213.53% 225.44%
Free Cash Flow Firm Q/Q Growth		 31.41% -103.19% 75.00% -46.66% 60.06% -8.95% 6.68% -17.70% -2,154.85% 83.11% -27.35%
Invested Capital Q/Q Growth		 -13.69% 1.80% 0.87% 3.89% 2.13% 2.62% 0.10% 8.19% 43.00% 4.01% 8.06%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 21.36% 35.42% 38.23% 40.04% 38.25% 34.61% 32.96% 37.97% 24.77% 14.37% 29.15%
EBIT Margin		 12.42% 26.02% 30.32% 33.77% 32.27% 28.91% 28.75% 35.65% 21.39% 11.69% 24.49%
Profit (Net Income) Margin		 9.13% 18.61% 19.21% 27.55% 26.15% 23.48% 23.01% 28.86% 17.44% 10.12% 19.57%
Tax Burden Percent		 73.53% 71.51% 63.38% 81.59% 81.02% 81.21% 80.02% 80.95% 81.52% 86.56% 80.67%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 99.03%
Effective Tax Rate		 26.47% 28.49% 36.62% 18.41% 18.98% 18.79% 19.98% 19.05% 18.48% 13.44% 19.33%
Return on Invested Capital (ROIC)		 4.12% 9.34% 9.30% 13.22% 11.09% 9.05% 8.61% 12.97% 6.35% 3.69% 8.32%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.12% 9.34% 9.30% 13.22% 11.09% 9.05% 8.61% 12.97% 6.35% 3.69% 8.32%
Return on Net Nonoperating Assets (RNNOA)		 0.92% 2.70% 2.40% 3.02% 2.20% 1.87% 1.64% 1.93% 2.22% 1.24% 1.72%
Return on Equity (ROE)		 5.03% 12.04% 11.69% 16.24% 13.28% 10.93% 10.26% 14.90% 8.57% 4.93% 10.04%
Cash Return on Invested Capital (CROIC)		 17.64% -0.49% 0.62% 2.08% -1.17% -3.93% -18.10% 23.54% -31.85% -5.02% -6.62%
Operating Return on Assets (OROA)		 0.60% 1.17% 1.40% 1.67% 1.52% 1.25% 1.11% 1.50% 0.85% 0.47% 1.09%
Return on Assets (ROA)		 0.44% 0.84% 0.89% 1.36% 1.23% 1.01% 0.89% 1.22% 0.69% 0.41% 0.87%
Return on Common Equity (ROCE)		 4.34% 12.04% 11.69% 16.24% 13.28% 10.93% 10.26% 14.90% 8.57% 4.93% 10.04%
Return on Equity Simple (ROE_SIMPLE)		 5.78% 11.33% 11.09% 15.20% 12.38% 10.43% 8.85% 15.50% 8.28% 4.18% 9.51%
Net Operating Profit after Tax (NOPAT)		 2.66 5.91 6.45 10 9.56 8.86 10 17 9.62 6.97 18
NOPAT Margin		 9.13% 18.61% 19.21% 27.55% 26.15% 23.48% 23.01% 28.86% 17.44% 10.12% 19.57%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 62.04% 54.37% 51.36% 43.93% 49.85% 47.21% 54.15% 46.44% 49.87% 48.35% 50.23%
Operating Expenses to Revenue		 87.92% 73.98% 69.38% 64.60% 66.50% 63.13% 72.69% 61.17% 67.47% 76.90% 72.32%
Earnings before Interest and Taxes (EBIT)		 3.61 8.26 10 12 12 11 13 21 12 8.05 22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 6.21 11 13 15 14 13 15 22 14 9.89 26
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.73 0.64 0.58 1.26 1.22 0.88 1.14 0.94 1.12 1.23 1.21
Price to Tangible Book Value (P/TBV)		 0.76 0.66 0.59 1.27 1.22 0.88 1.17 0.97 1.15 1.38 1.33
Price to Revenue (P/Rev)		 1.15 1.05 1.00 2.28 2.58 1.98 2.95 1.75 2.35 2.98 2.50
Price to Earnings (P/E)		 21.63 5.66 5.21 8.28 9.86 8.45 12.84 6.06 13.48 29.44 12.77
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 1.42% 2.86% 2.76% 3.45% 3.57% 3.35% 2.53%
Earnings Yield		 4.62% 17.66% 19.21% 12.08% 10.14% 11.84% 7.79% 16.51% 7.42% 3.40% 7.83%
Enterprise Value to Invested Capital (EV/IC)		 0.14 0.10 0.11 0.86 0.69 0.00 0.00 0.40 0.59 0.37 0.47
Enterprise Value to Revenue (EV/Rev)		 0.28 0.21 0.23 1.89 1.72 0.00 0.00 0.84 1.94 1.06 1.19
Enterprise Value to EBITDA (EV/EBITDA)		 1.32 0.58 0.61 4.72 4.49 0.00 0.00 2.22 7.82 7.35 4.08
Enterprise Value to EBIT (EV/EBIT)		 2.27 0.79 0.77 5.60 5.32 0.00 0.00 2.37 9.05 9.03 4.86
Enterprise Value to NOPAT (EV/NOPAT)		 3.09 1.11 1.21 6.86 6.56 0.00 0.00 2.92 11.11 10.43 6.08
Enterprise Value to Operating Cash Flow (EV/OCF)		 1.78 0.73 1.19 5.05 5.29 0.00 0.00 1.83 6.52 0.00 4.29
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.72 0.00 18.28 43.51 0.00 0.00 0.00 1.61 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.31 0.27 0.24 0.21 0.18 0.23 0.16 0.13 0.55 0.18 0.23
Long-Term Debt to Equity		 0.31 0.27 0.24 0.21 0.18 0.23 0.16 0.13 0.12 0.18 0.09
Financial Leverage		 0.22 0.29 0.26 0.23 0.20 0.21 0.19 0.15 0.35 0.34 0.21
Leverage Ratio		 11.47 14.36 13.19 11.95 10.79 10.80 11.59 12.24 12.41 12.13 11.48
Compound Leverage Factor		 11.47 14.36 13.19 11.95 10.79 10.80 11.59 12.24 12.41 12.13 11.37
Debt to Total Capital		 23.60% 21.41% 19.66% 17.60% 15.59% 18.50% 14.14% 11.64% 35.60% 15.46% 18.62%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27.69% 0.00% 10.93%
Long-Term Debt to Total Capital		 23.60% 21.41% 19.66% 17.60% 15.59% 18.50% 14.14% 11.64% 7.91% 15.46% 7.69%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 76.40% 78.59% 80.34% 82.40% 84.41% 81.50% 85.86% 88.36% 64.40% 84.54% 81.38%
Debt to EBITDA		 2.29 1.26 1.11 0.97 1.02 1.48 1.30 0.65 4.70 3.08 1.61
Net Debt to EBITDA		 -4.05 -2.39 -2.01 -0.98 -2.25 -8.27 -10.56 -2.38 -1.67 -13.39 -4.49
Long-Term Debt to EBITDA		 2.29 1.26 1.11 0.97 1.02 1.48 1.30 0.65 1.04 3.08 0.67
Debt to NOPAT		 5.35 2.41 2.21 1.41 1.49 2.18 1.86 0.85 6.68 4.37 2.41
Net Debt to NOPAT		 -9.47 -4.55 -3.99 -1.42 -3.30 -12.20 -15.13 -3.13 -2.38 -19.01 -6.68
Long-Term Debt to NOPAT		 5.35 2.41 2.21 1.41 1.49 2.18 1.86 0.85 1.48 4.37 0.99
Noncontrolling Interest Sharing Ratio		 13.83% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 11 -0.31 0.43 1.60 -1.01 -3.85 -22 30 -48 -9.47 -14
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 7.90 -0.16 0.18 0.46 -0.21 -1.14 -9.45 7.98 -3.38 -0.40 -0.54
Operating Cash Flow to Interest Expense		 3.19 4.55 2.75 3.92 2.43 4.46 3.41 7.01 1.15 -0.93 0.96
Operating Cash Flow Less CapEx to Interest Expense		 3.19 4.56 2.75 3.92 2.43 4.48 3.43 7.01 1.15 -0.93 1.02
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.05 0.05 0.05 0.05 0.05 0.04 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 1.55 1.51 1.65 1.84 1.84 1.93 2.16 2.63 2.51 2.42 2.61
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 60 66 72 81 91 104 136 123 181 197 229
Invested Capital Turnover		 0.45 0.50 0.48 0.48 0.42 0.39 0.37 0.45 0.36 0.36 0.43
Increase / (Decrease) in Invested Capital		 -8.72 6.22 6.02 8.54 11 13 32 -14 58 16 32
Enterprise Value (EV)		 8.20 6.56 7.81 70 63 -33 -24 49 107 73 108
Market Capitalization		 33 33 34 84 94 75 133 102 130 205 226
Book Value per Share		 $9.35 $10.59 $11.76 $13.45 $15.54 $17.48 $18.80 $17.30 $18.57 $18.56 $20.66
Tangible Book Value per Share		 $8.88 $10.27 $11.57 $13.36 $15.51 $17.47 $18.29 $16.80 $18.07 $16.56 $18.86
Total Capital		 60 66 72 81 91 104 136 123 181 197 229
Total Debt		 14 14 14 14 14 19 19 14 64 30 43
Total Long-Term Debt		 14 14 14 14 14 19 19 14 14 30 18
Net Debt		 -25 -27 -26 -14 -32 -108 -157 -53 -23 -132 -118
Capital Expenditures (CapEx)		 0.00 -0.02 0.00 -0.02 0.00 -0.05 -0.03 0.00 -0.05 -0.02 -1.70
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 14 14 14 14 14 19 19 14 64 30 43
Total Depreciation and Amortization (D&A)		 2.60 2.99 2.66 2.31 2.19 2.15 1.90 1.35 1.87 1.84 4.21
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.31 $1.20 $1.30 $2.05 $1.92 $1.82 $1.87 $2.69 $1.54 $1.00 $1.97
Adjusted Weighted Average Basic Shares Outstanding		 4.92M 4.94M 4.95M 4.96M 4.97M 4.87M 6.25M 6.28M 6.28M 8.99M 9.04M
Adjusted Diluted Earnings per Share		 $0.31 $1.20 $1.30 $2.04 $1.92 $1.82 $1.86 $2.68 $1.53 $1.00 $1.96
Adjusted Weighted Average Diluted Shares Outstanding		 4.92M 4.94M 4.95M 4.96M 4.97M 4.87M 6.25M 6.28M 6.28M 8.99M 9.04M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $1.92 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 4.92M 4.94M 4.95M 4.96M 4.97M 4.87M 6.25M 6.28M 6.28M 8.99M 9.04M
Normalized Net Operating Profit after Tax (NOPAT)		 2.66 5.91 6.61 10 9.56 8.86 10 17 9.62 14 19
Normalized NOPAT Margin		 9.13% 18.62% 19.69% 27.55% 26.15% 23.48% 23.01% 28.86% 17.44% 20.31% 21.42%
Pre Tax Income Margin		 12.42% 26.02% 30.32% 33.77% 32.27% 28.91% 28.75% 35.65% 21.39% 11.69% 24.25%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.51 4.17 4.26 3.54 2.41 3.22 5.62 5.43 0.83 0.34 0.84
NOPAT to Interest Expense		 1.84 2.98 2.70 2.89 1.96 2.62 4.50 4.40 0.67 0.29 0.67
EBIT Less CapEx to Interest Expense		 2.51 4.18 4.26 3.54 2.41 3.24 5.63 5.43 0.83 0.34 0.91
NOPAT Less CapEx to Interest Expense		 1.84 2.99 2.70 2.89 1.96 2.63 4.51 4.40 0.68 0.29 0.74
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 65.35% 9.31% 10.02% 9.17% 17.52% 22.66% 24.18% 19.69% 37.36% 57.97% 31.18%
Augmented Payout Ratio		 65.39% 9.31% 10.02% 9.41% 17.52% 46.57% 24.56% 20.78% 44.45% 59.49% 32.05%

Quarterly Metrics And Ratios for First National

This table displays calculated financial ratios and metrics derived from First National's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 6,249,535.00 6,260,934.00 6,277,373.00 6,277,373.00 6,280,406.00 - 8,986,696.00 8,986,696.00 8,989,138.00 9,010,817.00 9,040,967.00
DEI Adjusted Shares Outstanding		 6,249,535.00 6,260,934.00 6,277,373.00 6,277,373.00 6,280,406.00 - 8,986,696.00 8,986,696.00 8,989,138.00 9,010,817.00 9,040,967.00
DEI Earnings Per Adjusted Shares Outstanding		 0.50 -0.14 0.51 0.39 0.36 - 0.18 0.56 0.62 0.61 0.54
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -5.71% -14.96% 6.76% 4.04% 5.50% 81.00% 41.38% 58.23% 57.52% -14.77% 6.83%
EBITDA Growth		 -23.07% -113.36% -13.56% -24.15% -30.75% -94.98% -27.70% 83.25% 171.99% 423.12% 119.16%
EBIT Growth		 -26.39% -122.79% -15.65% -28.60% -37.50% -39.27% -52.74% 102.98% 183.75% 414.24% 220.21%
NOPAT Growth		 -29.93% -117.17% -16.63% -30.33% -27.97% -60.07% -50.20% 106.84% 146.89% 519.13% 205.82%
Net Income Growth		 -29.93% -117.81% -16.63% -30.33% -27.97% -9.64% -50.20% 106.84% 146.89% 689.93% 205.82%
EPS Growth		 -29.58% -118.42% -16.39% -30.36% -28.00% -85.71% -64.71% 43.59% 72.22% 330.77% 200.00%
Operating Cash Flow Growth		 -24.44% -48.87% 3.29% 9.79% 78.13% -822.09% -25.01% 29.40% 37.37% 123.02% 81.57%
Free Cash Flow Firm Growth		 -135.86% -418.23% -3,668.59% -503.75% -522.41% 69.77% 70.22% 27.20% 72.43% -48.13% -71.21%
Invested Capital Growth		 11.38% 47.22% 44.42% 44.86% 50.01% 9.11% 9.51% 24.32% 11.79% 16.14% 15.95%
Revenue Q/Q Growth		 2.07% -1.50% 8.71% -4.81% 3.50% 65.88% -24.78% 6.53% 3.03% 3.23% -5.72%
EBITDA Q/Q Growth		 -8.33% -119.26% 628.86% -18.75% -16.31% -149.76% 114.34% 105.93% 24.21% -4.59% -10.20%
EBIT Q/Q Growth		 -7.87% -133.45% 397.70% -22.17% -19.35% -167.17% 43.56% 234.30% 12.74% -4.96% -10.61%
NOPAT Q/Q Growth		 -10.96% -126.29% 491.15% -23.90% -7.94% -158.42% 221.69% 216.08% 9.88% -0.83% -11.21%
Net Income Q/Q Growth		 -10.96% -127.27% 477.09% -23.90% -7.94% -141.50% 271.28% 216.08% 9.88% -0.83% -11.21%
EPS Q/Q Growth		 -10.71% -128.00% 464.29% -23.53% -7.69% -172.22% 169.23% 211.11% 10.71% -3.23% -10.00%
Operating Cash Flow Q/Q Growth		 4.20% 47.33% -7.42% -22.75% 69.06% -697.23% 109.62% 33.29% 79.47% 0.08% -24.16%
Free Cash Flow Firm Q/Q Growth		 -8.20% -500.36% 10.11% -3.40% -11.54% 70.85% 11.42% -152.72% 57.76% -56.66% -2.38%
Invested Capital Q/Q Growth		 -0.69% 43.00% 0.86% 1.14% 2.84% 4.01% 1.23% 14.81% -7.53% 8.06% 1.07%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 31.95% -6.25% 30.39% 25.94% 20.97% -6.73% 15.54% 30.04% 36.22% 33.47% 31.88%
EBIT Margin		 28.95% -9.83% 26.92% 22.01% 17.15% -7.56% 9.00% 28.23% 30.90% 28.44% 26.97%
Profit (Net Income) Margin		 22.44% -6.21% 21.54% 17.22% 15.32% -3.76% 7.59% 22.51% 24.01% 23.06% 21.72%
Tax Burden Percent		 81.02% 72.61% 80.02% 78.24% 80.49% 49.73% 84.33% 79.73% 81.38% 79.84% 80.54%
Interest Burden Percent		 95.65% 87.01% 100.00% 100.00% 110.97% 100.00% 100.00% 100.00% 95.49% 101.56% 100.00%
Effective Tax Rate		 18.98% 0.00% 19.98% 21.76% 19.51% 0.00% 15.67% 20.27% 18.62% 20.16% 19.46%
Return on Invested Capital (ROIC)		 10.79% -2.18% 7.85% 6.27% 5.58% -1.93% 3.10% 9.07% 10.98% 9.80% 9.27%
ROIC Less NNEP Spread (ROIC-NNEP)		 10.79% -2.26% 7.85% 6.27% 5.58% -1.13% 3.10% 9.07% 10.98% 9.80% 9.27%
Return on Net Nonoperating Assets (RNNOA)		 1.46% -0.79% 2.68% 2.12% 1.85% -0.38% 1.03% 3.70% 3.40% 2.03% 1.91%
Return on Equity (ROE)		 12.25% -2.97% 10.53% 8.39% 7.42% -2.31% 4.13% 12.77% 14.37% 11.83% 11.18%
Cash Return on Invested Capital (CROIC)		 1.96% -31.85% -30.52% -31.55% -35.54% -5.02% -6.27% -17.83% -5.52% -6.62% -5.02%
Operating Return on Assets (OROA)		 1.21% -0.39% 1.07% 0.88% 0.70% -0.30% 0.40% 1.34% 1.63% 1.27% 1.21%
Return on Assets (ROA)		 0.94% -0.25% 0.86% 0.69% 0.62% -0.15% 0.34% 1.07% 1.26% 1.03% 0.97%
Return on Common Equity (ROCE)		 12.25% -2.97% 10.53% 8.39% 7.42% -2.31% 4.13% 12.77% 14.37% 11.83% 11.18%
Return on Equity Simple (ROE_SIMPLE)		 13.62% 0.00% 7.63% 6.61% 5.63% 0.00% 3.17% 4.59% 6.22% 0.00% 11.13%
Net Operating Profit after Tax (NOPAT)		 3.12 -0.82 3.21 2.44 2.25 -1.31 1.60 5.05 5.55 5.50 4.89
NOPAT Margin		 22.44% -5.99% 21.54% 17.22% 15.32% -5.29% 7.59% 22.51% 24.01% 23.06% 21.72%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.08% 0.00% 0.00% 0.00% -0.80% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 51.09% 48.93% 50.27% 52.99% 53.09% 42.28% 55.85% 48.27% 49.26% 48.03% 52.36%
Operating Expenses to Revenue		 70.33% 66.41% 66.37% 75.17% 71.27% 88.41% 87.05% 67.71% 68.27% 67.57% 71.03%
Earnings before Interest and Taxes (EBIT)		 4.03 -1.35 4.01 3.12 2.52 -1.88 1.90 6.34 7.14 6.79 6.07
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 4.45 -0.86 4.53 3.68 3.08 -1.67 3.27 6.74 8.37 7.99 7.17
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.94 1.12 0.83 0.77 0.86 1.23 1.16 1.01 1.13 1.21 1.29
Price to Tangible Book Value (P/TBV)		 0.97 1.15 0.86 0.79 0.88 1.38 1.30 1.12 1.24 1.33 1.41
Price to Revenue (P/Rev)		 1.83 2.35 1.75 1.62 1.86 2.98 2.52 2.10 2.22 2.50 2.65
Price to Earnings (P/E)		 6.83 13.48 10.92 11.59 16.22 29.44 23.72 21.97 17.18 12.77 11.59
Dividend Yield		 3.50% 3.57% 3.84% 4.10% 4.46% 3.35% 3.53% 3.98% 3.44% 2.53% 2.41%
Earnings Yield		 14.65% 7.42% 9.16% 8.63% 6.17% 3.40% 4.22% 4.55% 5.82% 7.83% 8.63%
Enterprise Value to Invested Capital (EV/IC)		 0.55 0.59 0.13 0.11 0.24 0.37 0.11 0.16 0.21 0.47 0.42
Enterprise Value to Revenue (EV/Rev)		 1.21 1.94 0.42 0.36 0.78 1.06 0.27 0.43 0.49 1.19 1.07
Enterprise Value to EBITDA (EV/EBITDA)		 3.32 7.82 1.82 1.73 4.29 7.35 1.82 3.08 2.65 4.08 3.25
Enterprise Value to EBIT (EV/EBIT)		 3.65 9.05 2.14 2.08 5.39 9.03 2.37 3.94 3.27 4.86 3.73
Enterprise Value to NOPAT (EV/NOPAT)		 4.56 11.11 2.63 2.58 6.35 10.43 3.92 4.53 4.00 6.08 4.68
Enterprise Value to Operating Cash Flow (EV/OCF)		 3.27 6.52 1.43 1.21 2.29 0.00 0.00 0.00 0.00 4.29 3.51
Enterprise Value to Free Cash Flow (EV/FCFF)		 29.58 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.13 0.55 0.55 0.54 0.51 0.18 0.18 0.32 0.17 0.23 0.23
Long-Term Debt to Equity		 0.13 0.12 0.12 0.12 0.11 0.18 0.18 0.18 0.17 0.09 0.09
Financial Leverage		 0.14 0.35 0.34 0.34 0.33 0.34 0.33 0.41 0.31 0.21 0.21
Leverage Ratio		 13.03 12.41 12.28 12.17 11.88 12.13 12.15 11.92 11.37 11.48 11.50
Compound Leverage Factor		 12.46 10.80 12.28 12.17 13.18 12.13 12.15 11.92 10.85 11.66 11.50
Debt to Total Capital		 11.31% 35.60% 35.30% 34.90% 33.94% 15.46% 15.42% 24.21% 14.41% 18.62% 18.45%
Short-Term Debt to Total Capital		 0.00% 27.69% 27.46% 27.15% 26.40% 0.00% 0.00% 10.92% 0.00% 10.93% 10.81%
Long-Term Debt to Total Capital		 11.31% 7.91% 7.84% 7.75% 7.54% 15.46% 15.42% 13.29% 14.41% 7.69% 7.64%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 88.69% 64.40% 64.70% 65.10% 66.06% 84.54% 84.59% 75.79% 85.59% 81.38% 81.55%
Debt to EBITDA		 0.68 4.70 4.96 5.45 6.16 3.08 2.66 4.74 1.80 1.61 1.41
Net Debt to EBITDA		 -1.71 -1.67 -5.74 -6.05 -5.97 -13.39 -15.17 -11.87 -9.35 -4.49 -4.79
Long-Term Debt to EBITDA		 0.68 1.04 1.10 1.21 1.37 3.08 2.66 2.60 1.80 0.67 0.58
Debt to NOPAT		 0.94 6.68 7.15 8.11 9.12 4.37 5.74 6.96 2.71 2.41 2.03
Net Debt to NOPAT		 -2.35 -2.38 -8.29 -9.01 -8.83 -19.01 -32.73 -17.44 -14.10 -6.68 -6.91
Long-Term Debt to NOPAT		 0.94 1.48 1.59 1.80 2.03 4.37 5.74 3.82 2.71 0.99 0.84
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -9.78 -59 -53 -55 -61 -18 -16 -40 -17 -26 -27
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 29,381.25% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -2.48 -13.15 -9.63 -9.82 -10.69 -2.49 -2.39 -6.01 -2.47 -4.19 -4.76
Operating Cash Flow to Interest Expense		 0.87 1.14 0.86 0.65 1.08 -5.15 0.54 0.71 1.24 1.35 1.13
Operating Cash Flow Less CapEx to Interest Expense		 0.87 1.15 0.86 0.65 1.08 -5.14 0.54 0.71 1.44 1.40 1.13
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.05 0.05 0.04 0.04
Fixed Asset Turnover		 2.68 2.51 2.57 2.59 2.59 2.42 2.75 2.93 3.21 2.61 2.67
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 126 181 182 184 189 197 199 229 212 229 231
Invested Capital Turnover		 0.48 0.36 0.36 0.36 0.36 0.36 0.41 0.40 0.46 0.43 0.43
Increase / (Decrease) in Invested Capital		 13 58 56 57 63 16 17 45 22 32 32
Enterprise Value (EV)		 70 107 24 20 45 73 21 36 45 108 98
Market Capitalization		 105 130 98 92 107 205 196 175 204 226 243
Book Value per Share		 $17.92 $18.57 $18.77 $19.10 $19.92 $18.56 $18.80 $19.31 $20.16 $20.66 $20.86
Tangible Book Value per Share		 $17.41 $18.07 $18.27 $18.60 $19.42 $16.56 $16.84 $17.40 $18.30 $18.86 $19.11
Total Capital		 126 181 182 184 189 197 199 229 212 229 231
Total Debt		 14 64 64 64 64 30 31 55 31 43 43
Total Long-Term Debt		 14 14 14 14 14 30 31 30 31 18 18
Net Debt		 -36 -23 -74 -71 -62 -132 -175 -139 -159 -118 -145
Capital Expenditures (CapEx)		 -0.00 -0.05 0.00 0.00 0.00 -0.02 -0.03 0.02 -1.34 -0.34 0.00
Net Nonoperating Expense (NNE)		 0.00 0.03 0.00 0.00 0.00 -0.38 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 14 64 64 64 64 30 31 55 31 43 43
Total Depreciation and Amortization (D&A)		 0.42 0.49 0.52 0.56 0.56 0.21 1.38 0.41 1.23 1.20 1.11
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.50 ($0.13) $0.51 $0.39 $0.36 ($0.26) $0.18 $0.56 $0.62 $0.61 $0.54
Adjusted Weighted Average Basic Shares Outstanding		 6.26M 6.28M 6.28M 6.28M 8.97M 8.99M 8.99M 8.99M 9.01M 9.04M 9.04M
Adjusted Diluted Earnings per Share		 $0.50 ($0.14) $0.51 $0.39 $0.36 ($0.26) $0.18 $0.56 $0.62 $0.60 $0.54
Adjusted Weighted Average Diluted Shares Outstanding		 6.26M 6.28M 6.28M 6.28M 8.97M 8.99M 8.99M 8.99M 9.01M 9.04M 9.04M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 6.26M 6.28M 6.28M 6.28M 8.97M 8.99M 8.99M 8.99M 9.01M 9.04M 9.04M
Normalized Net Operating Profit after Tax (NOPAT)		 3.12 -0.82 3.21 2.82 2.42 -1.31 3.23 5.12 5.55 5.61 4.89
Normalized NOPAT Margin		 22.44% -5.99% 21.54% 19.85% 16.52% -5.29% 15.35% 22.84% 24.01% 23.49% 21.72%
Pre Tax Income Margin		 27.69% -8.55% 26.92% 22.01% 19.03% -7.56% 9.00% 28.23% 29.50% 28.89% 26.97%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.02 -0.30 0.73 0.56 0.44 -0.26 0.29 0.96 1.05 1.08 1.07
NOPAT to Interest Expense		 0.79 -0.18 0.59 0.44 0.39 -0.18 0.24 0.76 0.82 0.88 0.86
EBIT Less CapEx to Interest Expense		 1.02 -0.29 0.73 0.56 0.44 -0.26 0.29 0.96 1.25 1.14 1.07
NOPAT Less CapEx to Interest Expense		 0.79 -0.17 0.59 0.44 0.39 -0.18 0.25 0.76 1.01 0.93 0.86
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 23.16% 37.36% 40.02% 45.37% 50.96% 57.97% 83.75% 61.93% 47.78% 31.18% 26.96%
Augmented Payout Ratio		 27.63% 44.45% 47.13% 47.39% 52.36% 59.49% 83.96% 62.03% 47.85% 32.05% 28.57%

Financials Breakdown Chart

Key Financial Trends

First National (NASDAQ: FXNC) entered 2026 with a much stronger earnings profile than it had a year earlier, but the latest quarter also showed some pressure on funding costs, deposits, and balance-sheet efficiency. Over the last four years, the biggest story has been a rebound from the weak period in late 2023/early 2024 to solid profitability in 2025 and Q1 2026.

In Q1 2026, FXNC reported net income of $4.9 million, up from $1.6 million in Q1 2025 and well above the loss reported in Q4 2024. Revenue was $22.5 million, with net interest income of $18.7 million doing the heavy lifting. Earnings per share came in at $0.54, compared with $0.18 a year ago in the same quarter.

The company’s balance sheet remains sizeable for a community bank, with $2.08 billion in assets and $188.6 million in common equity at March 31, 2026. Loans and leases net were $1.45 billion, while deposits totaled roughly $1.84 billion. That suggests a still-loan-heavy franchise with a meaningful deposit base supporting the balance sheet.

  • Profitability improved sharply year over year: Q1 2026 net income rose to $4.9 million from $1.6 million in Q1 2025.
  • Net interest income remained strong: $18.7 million in Q1 2026, up from $17.5 million in Q1 2025.
  • Non-interest income is providing support: $3.8 million in Q1 2026, helped by service charges and other fee income.
  • Operating cash flow was solid: $6.4 million in Q1 2026, indicating the bank is still generating cash from core operations.
  • Quarterly EPS improved meaningfully: basic EPS of $0.54 versus $0.18 a year earlier.
  • Asset base continued to expand modestly: total assets increased to $2.08 billion from $2.03 billion at year-end 2025.
  • Loan growth appears steady: net loans and leases rose to $1.45 billion from $1.42 billion in Q3 2025.
  • Dividend remains in place: cash dividends were $0.17 per share in Q1 2026.
  • Deposit balances declined sequentially: total deposits fell from about $1.86 billion in Q3 2025 to about $1.84 billion in Q1 2026.
  • Funding costs remain elevated: Q1 2026 deposit interest expense was $5.4 million, still a major drag on margins.

Looking at the trend line, FXNC has clearly moved out of the most difficult stretch. In Q4 2024, the company posted a net loss of $933,000, and in Q1 2024 it earned $3.2 million before seeing a much weaker period later that year. By Q4 2025 and Q1 2026, profitability had normalized and then improved further, helped by stronger fee income and better earnings leverage.

That said, the bank still faces a few watch items. Provisioning picked up in Q1 2026 to $450,000, and interest expense remains high relative to revenue. Also, the decline in deposits in the latest quarter is worth monitoring because it can pressure liquidity and funding costs if it continues.

Bottom line: FXNC looks fundamentally healthier than it did in 2024, with improving earnings, stable asset growth, and consistent operating cash flow. The key question for investors is whether the bank can keep expanding earnings while managing funding costs and preserving deposit stability.

07/31/26 05:11 AM ETAI Generated. May Contain Errors.

First National Financials - Frequently Asked Questions

According to the most recent income statement we have on file, First National's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

First National's net income appears to be on an upward trend, with a most recent value of $17.70 million in 2025, rising from $2.66 million in 2015. The previous period was $6.97 million in 2024. Find out what analysts predict for First National in the coming months.

Over the last 10 years, First National's total revenue changed from $29.07 million in 2015 to $90.48 million in 2025, a change of 211.3%.

First National's total liabilities were at $1.85 billion at the end of 2025, a 0.4% increase from 2024, and a 186.5% increase since 2015.

In the past 10 years, First National's cash and equivalents has ranged from $8.25 million in 2015 to $24.92 million in 2024, and is currently $20.84 million as of their latest financial filing in 2025.

Over the last 10 years, First National's book value per share changed from 9.35 in 2015 to 20.66 in 2025, a change of 120.9%.


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Financial statements for NASDAQ:FXNC last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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