FXNC

ANCHORAGE, Alaska, May 06, 2026 (GLOBE NEWSWIRE) -- First National Bank Alaska’s (OTCQX:FBAK) net income for the first quarter of 2026 was $21.2 million, or $6.68 per share. This compares to a net income of $17.7 million, or $5.60 per share, for the same period in 2025. Return on assets increased to 1.67%, an improvement of 25 basis points over March 31, 2025, driven by higher net income. “First National’s strong financial performance in the first quarter reflects continued growth, supported by outstanding financial management and improving core earnings from a stronger asset mix and expanding margins,” said First National Board Chair and CEO/President Betsy Lawer. “This success was reflected in the equity market, as our stock reached new highs and surpassed $1 billion for the first time. I’m proud to work alongside more than 600 Alaskans guided by an exceptionally skilled Board of Directors and leadership team who remain focused on delivering trusted financial services to support communities across Alaska.” Assets totaled $5.1 billion as of March 31, 2026, an increase of $193.9 million from March 31, 2025, driven by strong deposit growth and retained earnings. Loans totaled $2.8 billion as of March 31, 2026, an increase of $98.8 million during the first quarter of 2026, and an increase of $203.7 million compared to March 31, 2025. Asset quality remained strong, with nonperforming loans at $12.2 million, or 0.43% of outstanding loans. The provision for credit losses in the first quarter was a benefit of $0.3 million, compared to an expense of $1.5 million in the same period of 2025. The allowance for credit losses as of March 31, 2026, totaled $21.4 million, or 0.76% of total loans. Interest and fees on loans in the first quarter totaled $45.1 million, an increase of $4.0 million, or 9.6%, from $41.1 million in the first quarter of 2025. Interest income on investment securities increased $1.7 million for the quarter ending March 31, 2026, compared to March 31, 2025. Interest income as a percentage of average earning assets increased to 4.87% compared to 4.61% as of March 31, 2025. Deposits and repurchase agreements totaled $4.4 billion, an increase of $152.1 million from March 31, 2025. Corresponding interest expense declined by $1 million for the first quarter of 2026, compared to the same period in 2025. Interest expense as a percentage of average earning...

The analysts might have been a bit too bullish on First National Corporation (NASDAQ:FXNC), given that the company fell short of expectations when it released its first-quarter results last week. Results look to have been somewhat negative - revenue fell 3.4% short of analyst estimates at US$23m, and statutory earnings of US$0.54 per share missed forecasts by 2.7%. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on First National after the latest results. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. After the latest results, the two analysts covering First National are now predicting revenues of US$94.9m in 2026. If met, this would reflect a modest 6.9% improvement in revenue compared to the last 12 months. Statutory per-share earnings are expected to be US$2.36, roughly flat on the last 12 months. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$95.7m and earnings per share (EPS) of US$2.38 in 2026. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results. See our latest analysis for First National There were no changes to revenue or earnings estimates or the price target of US$28.50, suggesting that the company has met expectations in its recent result. Of course, another way to look at these forecasts is to place them into context against the industry itself. It's pretty clear that there is an expectation that First National's revenue growth will slow down substantially, with revenues to the end of 2026 expected to display 9.2% growth on an annualised basis. This is compared to a historical growth rate of 14% over the past five years. Compare this to the 620 other companies in this industry with analyst coverage, which are forecast to grow their revenue at 8.5% per year. Factoring in the forecast slowdown in growth, it looks like First National is forecast to...

STRASBURG, Va., April 30, 2026 (GLOBE NEWSWIRE) -- First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the bank holding company of First Bank (the “Bank”), reported consolidated net income of $4.9 million and basic and diluted earnings per common share of $0.54 for the first quarter ended March 31, 2026. “After a slow start to the first quarter, loan production picked up in March and lifted loan balances for the quarter. Deposit flows were also strong in the quarter with an eight percent annualized growth rate. We were excited to see our recently hired bankers teaming up with our legacy bankers to produce solid success on both sides of the balance sheet. With fewer days, the first quarter is typically the most challenging of the year for profitability, yet we were pleased to exceed our budgeted metrics for earnings, deposits, loans, and asset quality. We expect that the loan production late in the quarter will reap benefits going forward and we will begin the year with good momentum.” said Scott C. Harvard, President and Chief Executive Officer of First National. FINANCIAL HIGHLIGHTS FOR FIRST QUARTER 2026 NET INTEREST INCOME For the first quarter of 2026, the Company’s net interest margin fully tax equivalent ("FTE")(1) was 3.99%, compared to 3.95% for the fourth quarter of 2025 and 3.77% in the first quarter of 2025. The Company’s net interest margin (FTE)(1) for the first quarter of 2026 includes the impact of acquisition accounting fair value adjustments. Net accretion income related to acquisition accounting was $211 thousand, a 4-basis point incremental increase to the net interest margin for the first quarter ended March 31, 2026. Prior period acquisition accounting resulted in net accretion income of $201 thousand, or a 5-basis point incremental increase to the net interest margin for the quarter ended December 31, 2025, and net amortization expense of $36 thousand, or a one basis point incremental decrease to the net interest margin for the first quarter ended March 31, 2025. Earning asset yields for the first quarter of 2026 decreased 4-basis points to 5.20% compared to the fourth quarter of 2025. For the first quarter of 2026, net interest income was $18.8 million, a decrease of $276 thousand from $19.0 million in the fourth quarter of 2025 due to a decrease in average interest-earning assets. Loan growth occurred late i...

First National Corp. (FXNC) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +3.85%. A quarter ago, it was expected that this company would post earnings of $0.6 per share when it actually produced earnings of $0.62, delivering a surprise of +3.33%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. First National, which belongs to the Zacks Banks - Southeast industry, posted revenues of $22.5 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 0.88%. This compares to year-ago revenues of $21.06 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. First National shares have added about 10.7% since the beginning of the year versus the S&P 500's gain of 4.2%. While First National has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for First National was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (...

First Citizens BancShares (FCNCA) came out with quarterly earnings of $44.86 per share, beating the Zacks Consensus Estimate of $39.02 per share. This compares to earnings of $37.79 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +14.97%. A quarter ago, it was expected that this bank would post earnings of $44.21 per share when it actually produced earnings of $51.27, delivering a surprise of +15.97%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. First Citizens, which belongs to the Zacks Banks - Southeast industry, posted revenues of $2.14 billion for the quarter ended March 2026, missing the Zacks Consensus Estimate by 1.5%. This compares to year-ago revenues of $2.14 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. First Citizens shares have lost about 4.7% since the beginning of the year versus the S&P 500's gain of 4.3%. While First Citizens has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for First Citizens was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank...

This article first appeared on GuruFocus. First National Corp (NASDAQ:FXNC) is set to release its Q1 2026 earnings on Apr 17, 2026. The consensus estimate for Q1 2026 revenue is $23.30 million, and the earnings are expected to come in at $0.56 per share. The full year 2026's revenue is expected to be $95.70 million and the earnings are expected to be $2.38 per share. More detailed estimate data can be found on the Forecast page. Warning! GuruFocus has detected 5 Warning Sign with FXNC. Is FXNC fairly valued? Test your thesis with our free DCF calculator. Over the past 90 days, revenue estimates for First National Corp (NASDAQ:FXNC) have increased from $91.70 million to $95.70 million for the full year 2026 and from $95.80 million to $98.50 million for 2027. Earnings estimates have increased from $2.35 per share to $2.38 per share for the full year 2026, while remaining flat at $2.51 per share for 2027. In the previous quarter ending on 2025-12-31, First National Corp's (NASDAQ:FXNC) actual revenue was $23.97 million, which beat analysts' revenue expectations of $22.60 million by 6.06%. First National Corp's (NASDAQ:FXNC) actual earnings were $0.61 per share, which met analysts' earnings expectations. After releasing the results, First National Corp (NASDAQ:FXNC) was up by 0.9% in one day. Based on the one-year price targets offered by 2 analysts, the average target price for First National Corp (NASDAQ:FXNC) is $28 with a high estimate of $29 and a low estimate of $27. The average target implies a downside of -2.32% from the current price of $28.67. Based on GuruFocus estimates, the estimated GF Value for First National Corp (NASDAQ:FXNC) in one year is $22.55, suggesting a downside of -21.33% from the current price of $28.67. Based on the consensus recommendation from 2 brokerage firms, First National Corp's (NASDAQ:FXNC) average brokerage recommendation is currently 3.0, indicating a "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.

This article first appeared on GuruFocus. First National Corp (NASDAQ:FXNC) is set to release its Q1 2026 earnings on Apr 16, 2026. The consensus estimate for Q1 2026 revenue is $23.30 million, and the earnings are expected to come in at $0.56 per share. The full year 2026's revenue is expected to be $95.70 million and the earnings are expected to be $2.38 per share. More detailed estimate data can be found on the Forecast page. Warning! GuruFocus has detected 5 Warning Sign with FXNC. Is FXNC fairly valued? Test your thesis with our free DCF calculator. Revenue estimates for First National Corp (NASDAQ:FXNC) have increased from $91.70 million to $95.70 million for the full year 2026 and increased from $95.80 million to $98.50 million for 2027 over the past 90 days. Earnings estimates for First National Corp (NASDAQ:FXNC) have increased from $2.35 per share to $2.38 per share for the full year 2026 and remained flat at $2.51 per share for 2027 over the past 90 days. In the previous quarter of 2025-12-31, First National Corp's (NASDAQ:FXNC) actual revenue was $23.97 million, which beat analysts' revenue expectations of $22.60 million by 6.06%. First National Corp's (NASDAQ:FXNC) actual earnings were $0.61 per share, which met analysts' earnings expectations. After releasing the results, First National Corp (NASDAQ:FXNC) was up by 0.90% in one day. Based on the one-year price targets offered by 2 analysts, the average target price for First National Corp (NASDAQ:FXNC) is $28.00 with a high estimate of $29.00 and a low estimate of $27.00. The average target implies a downside of -2.47% from the current price of $28.71. Based on GuruFocus estimates, the estimated GF Value for First National Corp (NASDAQ:FXNC) in one year is $22.55, suggesting a downside of -21.46% from the current price of $28.71. Based on the consensus recommendation from 2 brokerage firms, First National Corp's (NASDAQ:FXNC) average brokerage recommendation is currently 3.0, indicating a "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.

ANCHORAGE, Alaska, Feb. 03, 2026 (GLOBE NEWSWIRE) -- First National Bank Alaska’s (OTCQX:FBAK) net income for the fourth quarter of 2025 was $20.1 million, or $6.33 per share. This compares to a net income of $20.0 million, or $6.29 per share, for the same period in 2024. “Fourth quarter results capped another year of exceptional financial performance,” said First National Board Chair and CEO/President Betsy Lawer. “Total assets exceeded five billion dollars, driven by record annual loan growth that strengthened our earning asset mix. Fourth quarter interest income continued the positive trend across the year. These factors, combined with robust noninterest income growth and outstanding expense management, pushed net income to a record high in 2025. “This outstanding performance in 2025 once again clearly demonstrated the skilled and strong guidance of our board and management team, and the hard work and dedication of more than 600 First National employees to help shape a brighter tomorrow for our customers and all Alaskans.” Assets totaled $5.1 billion as of Dec. 31, 2025, a decrease of $144.0 million for the quarter due to seasonal deposit outflow, and an increase of $102.2 million compared to the same period in 2024. Return on assets increased to 1.53% as of Dec. 31, 2025, thirty-one basis points higher than the same date last year, driven by the strong net income performance. Loans totaled $2.7 billion as of Dec. 31, 2025, an increase of $121.3 million during fourth quarter 2025, and an increase of $242.0 million compared to Dec. 31, 2024. Nonperforming loans of $10.6 million, 0.39% of outstanding loans, increased from Dec. 31, 2024, due to nonaccrual loan activity. The fourth quarter provision for credit losses totaled $2.2 million, compared to a benefit of $0.1 million in the fourth quarter of 2024. The year-to-date provision for credit losses totaled $4.8 million on loan growth through Dec. 31, 2025, compared to $0.7 million as of the same date last year. The allowance for credit losses as of Dec. 31, 2025, totaled $21.5 million, or 0.79% of total loans. Interest and fees on loans in the fourth quarter were $44.7 million, an increase of $3.5 million, 8.4% over $41.3 million for the fourth quarter of 2024. Interest income on investment securities decreased $3.0 million for quarter ending Dec. 31, 2025, compared to Dec. 31, 2024. Investment income was e...

STRASBURG, Va., Jan. 29, 2026 (GLOBE NEWSWIRE) -- First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the bank holding company of First Bank (the “Bank”), reported consolidated net income of $5.5 million and basic and diluted earnings per common share of $0.61 for the fourth quarter of 2025. For the year ended December 31, 2025, the Company reported consolidated earnings of $17.7 million and basic and diluted earnings per common share of $1.97 and $1.96, respectively, and adjusted operating earnings(1) of $19.1 million and adjusted basic and diluted earnings per common share(1) of $2.13 and $2.12, respectively, for the year ended December 31, 2025. “We are pleased to report a record fourth quarter of financial performance, as well as a record year. We spent 2025 integrating the Touchstone family and operations into our company, with a major focus on customer retention. The addition of experienced bankers in our Richmond, Roanoke, and Staunton markets helped support our net loan growth in the fourth quarter. We delivered a strong return to our shareholders as we increased our quarterly dividend in the fourth quarter 9.7% and grew our per share tangible book value 14% - all of which helped drive a stock price increase of 9.7% for the year. We are extremely pleased to deliver a double-digit return for our shareholders in 2025,” said Scott C. Harvard, President and Chief Executive Officer of First National. FINANCIAL HIGHLIGHTS FOR FOURTH QUARTER 2025 FINANCIAL HIGHLIGHTS FOR 2025 NET INTEREST INCOME For the fourth quarter of 2025, the Company’s net interest margin (FTE)(1) was 3.95%, compared to 3.84% for the third quarter of 2025 and 3.83% in the fourth quarter of 2024. The Company’s net interest margin (FTE)(1) for the fourth quarter of 2025 includes the impact of acquisition accounting fair value adjustments. Net accretion income related to acquisition accounting was $201 thousand, a 4-basis point incremental increase to the net interest margin for the fourth quarter ended December 31, 2025. Net accretion income related to acquisition accounting was $1.1 million for the year ended December 31, 2025, a 6-basis point incremental increase to the net interest margin. The quarterly impact of acquisition accretion and amortization in 2025 is reflected in the following table (dollars in thousands): Earning asset yields for the fourth quar...

STRASBURG, Va., Nov. 13, 2025 (GLOBE NEWSWIRE) -- First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the bank holding company of First Bank (the “Bank”), announced its Board of Directors declared a quarterly cash dividend of $0.17 per share to shareholders of record on November 28, 2025, to be paid on December 12, 2025. This is an increase of 9.7% from the previous quarterly dividend payment of $0.155 per share. “We are pleased to announce this increase in dividends for our shareholders based on our strong financial performance. We have increased our annual cash dividend payout every year for the past ten years,” said Scott Harvard, President and Chief Executive Officer of First National. ABOUT FIRST NATIONAL CORPORATION First National Corporation (NASDAQ: FXNC) is the parent company and bank holding company of First Bank, a community bank that first opened for business in 1907 in Strasburg, Virginia. The Bank offers loan and deposit products and services through its consumer and business mobile banking platforms, a network of ATMs located throughout its market area, three loan production offices, a customer service center in a retirement community, and thirty-three bank branch office locations located throughout the Shenandoah Valley, the Roanoke Valley, the Richmond MSA, the south-central region of Virginia, and in northern North Carolina. In addition to providing traditional banking services, the Bank operates a wealth management division under the name First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc., which owns an interest in an entity that provides title insurance services. CONTACTS

This article first appeared on GuruFocus. Release Date: November 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Brookfield Business Partners LP (NYSE:BBU) generated over $2 billion from its capital recycling program and repaid $1 billion of borrowings on its corporate credit facility. The company has invested $525 million in strategic growth acquisitions, including First National. BBU announced plans to simplify its corporate structure, which is expected to improve trading liquidity and increase demand for its shares. The company's NAV has continued to grow, and its trading discount has narrowed, indicating potential for further growth. BBU is leveraging AI to enhance operational capabilities and accelerate value creation across its businesses. Third quarter adjusted EBITDA decreased to $575 million from $844 million in the prior period, reflecting lower ownership in three businesses. The industrial segment's adjusted EBITDA decreased to $316 million from $500 million in the prior period. The business services segment's adjusted EBITDA decreased to $188 million from $228 million last year. The infrastructure services segment's adjusted EBITDA decreased to $104 million from $146 million during the same quarter last year. The company is facing regulatory challenges with La Trobe in Australia, although it is described as a disclosure issue with no impact on fundamentals. Warning! GuruFocus has detected 11 Warning Signs with BBU. Is BBU fairly valued? Test your thesis with our free DCF calculator. Q: Is an IPO still the most likely path for BRK's exit, considering the high interest rates in Brazil? A: (Jaspreet Dell, CFO) An IPO is one option for BRK, which is one of our more mature investments. While the capital markets in Brazil are challenging due to high interest rates, they seem to have peaked, and we are keeping our options open. We are having early discussions to gauge interest, but other options are also being considered. Q: Will BRK be more active in investing in new concessions, or is financial leverage a constraint? A: (Jaspreet Dell, CFO) The focus has been on operational initiatives to increase margins and EBITDA, and on developing existing concessions. While there is a massive need for water treatment and sewage in Brazil, our current focus is on monetizing the assets rather than seekin...

STRASBURG, Va., Oct. 30, 2025 (GLOBE NEWSWIRE) -- First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the bank holding company of First Bank (the “Bank”), reported earnings for the quarter ended September 30, 2025, of $5.55 million and basic and diluted earnings per common share of $0.62. “We are pleased to report another record quarter of financial performance as earnings improved over the prior quarter and the previous year, with earnings per share of $0.62 for the third quarter. We closed the Touchstone acquisition one year ago and we are pleased with the results as we expand into these new markets. While loan growth remains muted due to higher-than-expected loan payoff volumes, we have recently added additional experienced bankers in our Richmond, Roanoke, and Staunton markets as we continue to build out our production teams. The balance sheet remains strong with ample liquidity and capital to support future growth,” said Scott Harvard, President and Chief Executive Officer of First National. FINANCIAL HIGHLIGHTS FOR THIRD QUARTER 2025 NET INTEREST INCOME For the third quarter of 2025, the Company’s net interest margin (FTE)(1) was 3.84%, compared to 3.95% for the second quarter of 2025 and 3.43% in the third quarter of 2024. The Company’s net interest margin (FTE)(1) for the third quarter of 2025 includes the impact of acquisition accounting fair value adjustments. Net accretion income related to acquisition accounting was $43 thousand, with no incremental increase to the net interest margin for the third quarter ended September 30, 2025, compared to the net accretion income of $907 thousand or an 18-basis point incremental increase to the net interest margin for the second quarter ended June 30, 2025. Excluding the impact of merger accounting the net interest margin would have improved in the third quarter of 2025 compared to the previous period. The impact of accretion and amortization for the periods presented are reflected in the following table (dollars in thousands): Earning asset yields for the third quarter of 2025 decreased 9 basis points to 5.26% compared to the second quarter of 2025, driven primarily by the $849 thousand decrease in accretion on purchased loans. Loan accretion decreased in the third quarter due to the payoff of several large loans, resulting in the accelerated amortization of purchase accounting pr...