First National Corporation Q1 2026 Earnings Report - $4.9M Net Income, $0.54 EPS

First National Corporation (NASDAQ: FXNC) reported strong first quarter 2026 financial results with consolidated net income of $4.9 million and basic/diluted earnings per share of $0.54. The company showed significant improvement compared to the same quarter last year, with diluted EPS increasing from $0.18 to $0.54. Key financial highlights include a return on average assets of 0.98% (up from 0.32% year-over-year) and a net interest margin of 3.99% (up from 3.77%). The company achieved solid balance sheet growth with total assets reaching $2.076 billion, representing a 1.9% increase from the previous quarter. Loan growth was $14.7 million (4.0% annualized) and deposits grew $37.7 million (8.4% annualized). Asset quality improved with non-performing assets declining to 0.21% of total assets. CEO Scott Harvard noted that loan production picked up in March after a slow start to the quarter, and the company exceeded budgeted metrics for earnings, deposits, loans, and asset quality. The company declared and paid a quarterly cash dividend of $0.17 per common share.