Virginia National Bankshares Corp
Business
Virginia National Bankshares Corp is a bank holding company that owns Virginia National Bank, a national bank engaged in general commercial and retail banking. The company offers deposits (checking, money market, certificates of deposit, retirement accounts), commercial and consumer loans, trust and estate administration services, ATM and internet banking, treasury and cash management services, and merchant card services. Operating primarily through its principal subsidiary Virginia National Bank, the company serves Virginia communities in and around Charlottesville, Winchester, Manassas, and Richmond.
Summary from 10-K filed 2026-03-27
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Loans, including fees | 70 | 67 | 56 | 44 | 44 | |
| Federal funds sold | 835,000 | 765,000 | 207,000 | 1 | 139,000 | |
| Other interest bearing deposits | 174,000 | 206,000 | 501,000 | 1 | 233,000 | |
| Taxable | 5 | 7 | 12 | 8 | 3 | |
| Tax exempt | 1 | 1 | 1 | 1 | 1 | |
| Dividends | 450,000 | 431,000 | 367,000 | 280,000 | 170,000 | |
| Total interest and dividend income | 77 | 76 | 70 | 57 | 48 | |
| Demand deposits | 270,000 | 272,000 | 346,000 | 230,000 | — | |
| Money market and savings deposits | 12 | 12 | 10 | 2 | — | |
| Certificates and other time deposits | 11 | 15 | 9 | 657,000 | 1 | |
| Borrowings | 2 | 2 | 2 | 200,000 | −132,000 | |
| Federal funds purchased | 28,000 | 29,000 | 138,000 | — | — | |
| Junior subordinated debt | 301,000 | 346,000 | 313,000 | — | — | |
| Total interest expense | 26 | 30 | 21 | — | — | |
| Net interest income | 52 | 46 | 49 | 54 | 45 | |
| Provision for (recovery of) credit losses | 137,000 | −600,000 | 734,000 | 106,000 | 1 | |
| Net interest income after provision for (recovery of) credit losses | 51 | 47 | 48 | 53 | 44 | |
| Wealth management fees | 894,000 | 1 | 2 | 2 | 4 | |
| Deposit account fees | 1 | 1 | 2 | 2 | 1 | |
| Debit/credit card and ATM fees | 1 | 2 | 2 | 3 | 2 | |
| Bank owned life insurance income | 1 | 1 | 2 | 963,000 | 708,000 | |
| Gains on sale of assets, net | 278,000 | 36,000 | 112,000 | 1 | 81,000 | |
| Gain on early redemption of debt | 0 | 904,000 | — | — | — | |
| Losses on sales of AFS, net | 0 | −4,000 | −206,000 | — | — | |
| Other | 1 | 1 | 1 | 1 | 1 | |
| Total noninterest income | 6 | 8 | 9 | 14 | 10 | |
| Salaries and employee benefits | 16 | 16 | 16 | 17 | 16 | |
| Net occupancy | 4 | 4 | 4 | 5 | 4 | |
| Equipment | 755,000 | 720,000 | 762,000 | 897,000 | 966,000 | |
| Bank franchise tax | 2 | 1 | 1 | 1 | 1 | |
| Computer software | 1 | 917,000 | 778,000 | 1 | 1 | |
| Data processing | 2 | 3 | 3 | 3 | 3 | |
| FDIC deposit insurance assessment | 785,000 | 700,000 | 710,000 | 511,000 | 858,000 | |
| Marketing, advertising and promotion | 761,000 | 730,000 | 1 | 1 | 922,000 | |
| Professional fees | 1 | 894,000 | 674,000 | 1 | 1 | |
| Core deposit intangible amortization | 1 | 1 | 1 | 2 | 1 | |
| Other | 5 | 5 | 5 | 5 | 4 | |
| Total noninterest expense | 33 | 34 | 34 | 39 | 43 | |
| Income before income taxes | 24 | 21 | 23 | 29 | 12 | |
| Provision for income taxes | 5 | 4 | 4 | 5 | 2 | |
| Net income | 19 | 17 | 19 | 23 | 10 | |
| Net income per common share, basic | 3.57 | 3.16 | 3.6 | 4.4 | 2.16 | |
| Net income per common share, diluted | 3.55 | 3.15 | 3.58 | 4.38 | 2.14 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 6 | 5 | 18 | 21 | 20 | |
| Interest bearing deposits in other banks | 11 | 12 | 10 | 19 | 336 | |
| Federal funds sold | 54 | 0 | — | 45,000 | 152 | |
| Available for sale, at fair value | 248 | 264 | 421 | 538 | 304 | |
| Restricted securities, at cost | 6 | 6 | 8 | 5 | 5 | |
| Total securities | 254 | 270 | 429 | 543 | 309 | |
| Loans | 1,238 | 1,236 | 1,093 | — | — | |
| Allowance for credit losses | −8 | −8 | −8 | −6 | — | |
| Loans, net | 1,229 | 1,228 | 1,084 | — | — | |
| Premises and equipment, net | 12 | 15 | 16 | 18 | 25 | |
| Bank owned life insurance | 41 | 40 | 39 | 39 | 31 | |
| Goodwill | 8 | 8 | 8 | 8 | 8 | |
| Right of use asset, net | 6 | 6 | 7 | 7 | 8 | |
| Deferred tax asset, net | 12 | 15 | 15 | 17 | 5 | |
| Accrued interest receivable and other assets | 14 | 15 | 14 | 14 | 13 | |
| Total assets | 1,650 | 1,617 | 1,646 | 1,623 | 1,972 | |
| Noninterest bearing | 362 | 374 | 373 | 496 | 522 | |
| Interest bearing | 308 | 303 | 306 | 400 | 446 | |
| Money market and savings deposit accounts | 470 | 438 | 412 | 468 | 666 | |
| Certificates of deposit and other time deposits | 291 | 308 | 319 | 115 | 162 | |
| Total deposits | 1,432 | 1,424 | 1,409 | 1,478 | 1,796 | |
| Federal funds purchased | 0 | 236,000 | 3 | — | — | |
| Borrowings | 20 | 20 | 67 | — | — | |
| Junior subordinated debt | 4 | 4 | 4 | 3 | 3 | |
| Lease liability | 6 | 5 | 7 | 6 | 7 | |
| Accrued interest payable and other liabilities | 4 | 4 | 4 | 2 | 4 | |
| Total liabilities | 1,466 | 1,457 | 1,493 | 1,490 | 1,810 | |
| Commitments and contingent liabilities | — | — | — | — | — | |
| Preferred stock, $2.50 par value | — | — | — | — | — | |
| Common stock, $2.50 par value | 13 | 13 | 13 | 13 | 13 | |
| Capital surplus | 107 | 106 | 106 | 105 | 105 | |
| Retained earnings | 94 | 83 | 74 | 63 | 46 | |
| Accumulated other comprehensive loss | −31 | −42 | −40 | −49 | −2 | |
| Total shareholders' equity | 184 | 160 | 153 | 133 | 162 | |
| Total liabilities and shareholders' equity | 1,650 | 1,617 | 1,646 | 1,623 | 1,972 | |
| Common stock, shares outstanding | 5 | 5 | 5 | 5 | 5 | |
| Common stock, shares authorized | 10 | 10 | 10 | 10 | 10 | |
| Preferred stock, shares outstanding | 0 | 0 | 0 | 0 | 0 | |
| Preferred stock, shares authorized | 2 | 2 | 2 | 2 | 2 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net accretion of certain acquisition-related adjustments | −2 | −3 | −6 | −2 | −3 | |
| Amortization of intangible assets | 1 | 1 | 2 | 2 | 2 | |
| Net amortization of securities | 805,000 | 526,000 | −2 | −364,000 | 2 | |
| Net gain on early redemption of FHLB advances | — | −904,000 | — | — | — | |
| Net gains on sales other assets | −278,000 | −36,000 | −112,000 | −1 | −65,000 | |
| Depreciation and other amortization | 3 | 3 | 3 | 3 | 3 | |
| Deferred tax expense (benefit) | 352,000 | 10,000 | −473,000 | −138,000 | 702,000 | |
| Stock option expense | 125,000 | 131,000 | 142,000 | 167,000 | 145,000 | |
| Restricted stock expense | 847,000 | 838,000 | 585,000 | 520,000 | 376,000 | |
| Accrued interest receivable and other assets | 676,000 | −1 | 52,000 | −828,000 | −3 | |
| Accrued interest payable and other liabilities | −1 | −801,000 | −863,000 | −1 | 2 | |
| Net cash provided by operating activities | 21 | 15 | 14 | 23 | 13 | |
| Net decrease in restricted investments | 21,000 | 2 | −3 | −188,000 | −320,000 | |
| Proceeds from maturities, calls and principal payments of available for sale securities | 29 | 154 | 214 | 23 | 32 | |
| Net decrease (increase) in loans | 176,000 | −140 | −150 | 127 | 147 | |
| Proceeds from sale of premises and equipment | 3 | 104,000 | 2 | 6 | 34,000 | |
| Purchase of bank premises and equipment, net | −582,000 | −733,000 | −1 | −546,000 | −1 | |
| Net cash provided by investing activities | 32 | 16 | −20 | −167 | 262 | |
| Net increase in demand deposits, NOW accounts, and money market accounts | 25 | 25 | −273 | −271 | 255 | |
| Net decrease in certificates of deposit and other time deposits | −17 | −10 | 203 | −47 | −7 | |
| Net decrease in Federal funds purchased | −236,000 | −3 | 3 | — | — | |
| Net decrease in other borrowings | — | −46 | 67 | — | −43 | |
| Proceeds from stock options exercised | 35,000 | — | 18,000 | 23,000 | 30,000 | |
| Repurchases of common stock | — | −559,000 | — | — | — | |
| Cash dividends paid | −8 | −7 | −7 | −6 | −6 | |
| Net cash provided by (used in) financing activities | 381,000 | −42 | −6 | −324 | 199 | |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 54 | −11 | −12 | −469 | 474 | |
| Interest | 26 | 30 | 22 | 3 | 3 | |
| Taxes | 4 | 4 | 4 | 4 | 1 | |
| Unrealized gains (losses) on available for sale securities, net of tax | 11 | −2 | −2 | −59 | −5 | |
| Initial right-of-use assets obtained in exchange for new operating lease liabilities | 2 | 281,000 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Virginia National Bankshares Corp's CIK number?
Virginia National Bankshares Corp's SEC CIK number is 0001572334 (1572334). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Virginia National Bankshares Corp's SEC filings?
All of Virginia National Bankshares Corp's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Virginia National Bankshares Corp last report earnings?
Virginia National Bankshares Corp (VABK) most recently filed an earnings 8-K with the SEC on Apr 23, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-171985). This is Virginia National Bankshares Corp's most recent earnings filing of record — not a forecast of its next earnings date.
What is Virginia National Bankshares Corp's most recent earnings 8-K?
Virginia National Bankshares Corp's latest earnings 8-K (Item 2.02) was filed Apr 23, 2026 under accession 0001193125-26-171985. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Virginia National Bankshares Corp's latest earnings 8-K →
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