First National net income more than doubled to $4.9 million in Q1 FY26

• First National Corporation posted net income of $4.9 million, or $0.54 per diluted share, for quarter ended March 31, 2026, up from $1.6 million, or $0.18 per diluted share, a year earlier.
• Net interest income rose 7.0% to $18.7 million, as net interest margin widened 22 basis points to 3.99%.
• Provision for credit losses fell to $450,000 from $832,000, while noninterest expense dropped 12.8% to $16 million.
• Noninterest income increased 5.9% to $3.8 million, reflecting higher other operating income and ATM and check card fees, offset by lower service charges on deposit accounts.
• Company maintained plans to sell two North Carolina offices and consolidate three Virginia branches into nearby locations, targeting second-half 2026 closings that would reduce banking offices to 28 from 33.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. First National Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001437749-26-016708), on May 13, 2026, and is solely responsible for the information contained therein.