Virginia National Bankshares Corp 8-K, filed Oct 29, 2026

Virginia National Bankshares Corp (VABK)

8-K 2026-10-29 For: 2026-10-29

Added on October 29, 2026

About this 8-K

Virginia National Bankshares Corp filed this 8-K on October 29, 2026.

Virginia National Bankshares Corporation reported quarterly net income of $6.6 million, or $1.20 per diluted share, compared with $4.6 million, or $0.84 per diluted share, as net interest margin (FTE) improved to 3.73% from 3.43%. AI summary

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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Virginia	001-40305	46-2331578
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

404 People Place
Charlottesville, Virginia		22911
(Address of Principal Executive Offices)		(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	VABK	The Nasdaq Stock Market LLC


99.1	Press statement issued by Virginia National Bankshares Corporation on October 29, 2026

104	Cover Page Interactive Data File (embedded within the Inline XBRL document).


			VIRGINIA NATIONAL BANKSHARES CORPORATION

Date:	October 29, 2026	By:	/s/ Cathy W. Liles
			Cathy W. Liles Executive Vice President and Chief Financial Officer


	September 30, 2026			December 31, 2025*			September 30, 2025
	(Unaudited)						(Unaudited)
ASSETS
Cash and due from banks	$	5,765		$	5,798		$	6,166
Interest-bearing deposits in other banks		11,234			10,552			8,965
Federal funds sold		52,168			54,264			7,964
Securities:
Available-for-sale (AFS), at fair value		213,738			247,992			252,952
Restricted securities, at cost		6,195			6,172			6,647
Total securities		219,933			254,164			259,599
Loans, net of deferred fees and costs		1,247,313			1,237,577			1,235,000
Allowance for credit losses		(8,171	)		(8,270	)		(8,510	)
Loans, net		1,239,142			1,229,307			1,226,490
Premises and equipment, net		11,695			11,687			11,775
Bank owned life insurance		41,505			41,302			40,977
Goodwill		7,768			7,768			7,768
Core deposit intangible, net		1,976			2,682			2,942
Right of use asset, net		10,409			6,297			6,666
Deferred tax asset, net		14,719			12,079			13,097
Accrued interest receivable and other assets		11,284			13,842			14,023
Total assets	$	1,627,598		$	1,649,742		$	1,606,432
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Demand deposits:
Noninterest-bearing	$	357,499		$	362,322		$	361,568
Interest-bearing		259,101			308,295			260,424
Money market and savings deposit accounts		510,349			469,815			460,160
Certificates of deposit and other time deposits		272,562			291,299			302,736
Total deposits		1,399,511			1,431,731			1,384,888
Borrowings		20,000			20,000			30,000
Junior subordinated debt, net		3,590			3,554			3,542
Lease liability		10,362			6,192			6,542
Accrued interest payable and other liabilities		4,111			4,104			4,101
Total liabilities		1,437,574			1,465,581			1,429,073
Commitments and contingent liabilities
Shareholders' equity:
Preferred stock, $2.50 par value		-			-			-
Common stock, $2.50 par value		13,424			13,327			13,318
Capital surplus		108,052			107,337			107,076
Retained earnings		109,134			94,165			90,149
Accumulated other comprehensive loss		(40,586	)		(30,668	)		(33,184	)
Total shareholders' equity		190,024			184,161			177,359
Total liabilities and shareholders' equity	$	1,627,598		$	1,649,742		$	1,606,432

Common shares outstanding		5,427,691			5,393,140			5,391,979
Common shares authorized		10,000,000			10,000,000			10,000,000
Preferred shares outstanding		-			-			-
Preferred shares authorized		2,000,000			2,000,000			2,000,000

Virginia National Bankshares Corp 8-K, filed Oct 29, 2026

About this 8-K

Items reported

FORM 8-K

Item 2.02 Results of Operations and Financial Condition.

Item 9.01 Financial Statements and Exhibits.


FOR IMMEDIATE RELEASE	INVESTOR RELATIONS CONTACT:
	Cathy W. Liles (434) 817-8267


	For the three months ended					For the nine months ended
	September 30, 2026			September 30, 2025		September 30, 2026			September 30, 2025
Interest and dividend income:
Loans, including fees	$	18,379		$	17,500	$	52,900		$	51,864
Federal funds sold		723			283		1,505			530
Other interest-bearing deposits		46			55		128			142
Investment securities:
Taxable		1,076			1,199		3,245			3,773
Tax-exempt		319			322		967			968
Dividends		89			112		262			336
Total interest and dividend income		20,632			19,471		59,007			57,613

Interest expense:
Demand deposits		69			66		205			202
Money market and savings deposits		3,315			3,026		9,308			8,957
Certificates and other time deposits		2,442			2,713		7,505			8,437
Borrowings		197			513		583			1,604
Federal funds purchased		-			3		-			28
Junior subordinated debt		70			78		211			224
Total interest expense		6,093			6,399		17,812			19,452
Net interest income		14,539			13,072		41,195			38,161
(Recovery of) provision for credit losses		(114	)		332		(219	)		174
Net interest income after (recovery of) provision for credit losses		14,653			12,740		41,414			37,987

Noninterest income:
Wealth management fees		226			223		660			658
Deposit account fees		364			323		1,089			922
Debit/credit card and ATM fees		183			340		679			1,065
Bank owned life insurance income		761			318		1,412			918
Gains on sales or disposal of assets, net		-			-		5			278
Gain on sale of limited partnership investment		-			-		4,662			-
Other		143			147		691			580
Total noninterest income		1,677			1,351		9,198			4,421

Noninterest expense:
Salaries and employee benefits		4,045			3,909		12,071			11,708
Net occupancy		808			872		2,307			2,777
Equipment		214			182		612			569
Bank franchise tax		467			439		1,403			1,266
Computer software		204			303		632			825
Data processing		616			577		1,775			2,044
FDIC deposit insurance assessment		195			255		557			545
Marketing, advertising and promotion		141			171		662			604
Professional fees		292			256		973			843
Core deposit intangible amortization		224			271		707			850
Other		1,064			1,169		3,040			3,877
Total noninterest expense		8,270			8,404		24,739			25,908
Income before income taxes		8,060			5,687		25,873			16,500
Provision for income taxes		1,504			1,111		5,049			3,197
Net income	$	6,556		$	4,576	$	20,824		$	13,303

Net income per common share, basic	$	1.21		$	0.85	$	3.84		$	2.47
Net income per common share, diluted	$	1.20		$	0.84	$	3.82		$	2.45
Weighted average common shares outstanding, basic		5,426,050			5,391,979		5,419,806			5,387,658
Weighted average common shares outstanding, diluted		5,467,745			5,424,642		5,454,936			5,414,969


	At or for the three months ended
	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025
Common Share Data:
Net income	$	6,556		$	9,008		$	5,259		$	5,958		$	4,576
Net income per weighted average share, basic	$	1.21		$	1.66		$	0.97		$	1.10		$	0.85
Net income per weighted average share, diluted	$	1.20		$	1.65		$	0.97		$	1.10		$	0.84
Weighted average shares outstanding, basic		5,426,050			5,423,642			5,409,543			5,392,763			5,391,979
Weighted average shares outstanding, diluted		5,467,745			5,455,403			5,443,437			5,424,154			5,424,642
Actual shares outstanding		5,427,691			5,424,431			5,422,513			5,393,140			5,391,979
Tangible book value per share at period end 4	$	33.21		$	34.05		$	32.51		$	32.21		$	30.90
Key Ratios:
Return on average assets 1		1.58	%		2.24	%		1.30	%		1.45	%		1.12	%
Return on average equity 1		13.34	%		18.81	%		11.34	%		13.04	%		10.48	%
Net interest margin (FTE) 1, 2		3.73	%		3.65	%		3.40	%		3.50	%		3.43	%
Efficiency ratio (FTE) 3		50.7	%		41.6	%		56.6	%		49.5	%		57.9	%
Loan-to-deposit ratio		89.1	%		87.6	%		86.7	%		86.4	%		89.2	%
Net Interest Income:
Net interest income	$	14,539		$	13,748		$	12,906		$	13,348		$	13,072
Net interest income (FTE) 2	$	14,625		$	13,835		$	12,991		$	13,433		$	13,158
Company Capital Ratios:
Tier 1 leverage ratio 5		13.33	%		13.38	%		12.70	%		12.52	%		12.26	%
Total risk-based capital ratio 5		22.05	%		21.59	%		20.80	%		20.42	%		20.15	%
Assets and Asset Quality:
Average earning assets	$	1,555,957		$	1,520,330		$	1,550,030		$	1,521,387		$	1,523,230
Average gross loans	$	1,234,915		$	1,235,696		$	1,233,478		$	1,223,703		$	1,230,805
Fair value mark on acquired loans	$	3,205		$	3,911		$	4,344		$	4,754		$	5,241

Allowance for credit losses on loans:
Beginning of period	$	8,124		$	7,981		$	8,270		$	8,510		$	8,347
Provision for (recovery of) credit losses		91			138			(281	)		(176	)		253
Charge-offs		(83	)		(65	)		(93	)		(126	)		(146	)
Recoveries		39			70			85			62			56
End of period	$	8,171		$	8,124		$	7,981		$	8,270		$	8,510

Non-accrual loans	$	2,055		$	2,099		$	2,147		$	2,198		$	2,568
Loans 90 days or more past due and still accruing		3,846			3,692			3,841			7,042			4,201
Total nonperforming assets (NPA)	$	5,901		$	5,791		$	5,988		$	9,240		$	6,769

NPA as a % of total assets		0.36	%		0.35	%		0.36	%		0.56	%		0.42	%
NPA as a % of gross loans		0.47	%		0.47	%		0.48	%		0.75	%		0.55	%
ACL to gross loans		0.66	%		0.66	%		0.64	%		0.67	%		0.69	%
Non-accruing loans to gross loans		0.16	%		0.17	%		0.17	%		0.18	%		0.21	%
Net charge-offs to average loans 1		0.01	%		0.00	%		0.00	%		0.02	%		0.03	%


	As of
	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025
Other financial measures
Book value per share (GAAP)	$	35.01		$	35.89		$	34.39		$	34.15		$	32.89
Impact of intangible assets 4		(1.80	)		(1.84	)		(1.88	)		(1.94	)		(1.99	)
Tangible book value per share (non-GAAP)	$	33.21		$	34.05		$	32.51		$	32.21		$	30.90


	For the nine months ended
	September 30, 2026			September 30, 2025
Fully tax-equivalent measures
Net interest income (GAAP)	$	41,195		$	38,161
Fully tax-equivalent adjustment		258			258
Net interest income (FTE)1 (non-GAAP)	$	41,453		$	38,419

Net interest margin (GAAP)		3.57	%		3.35	%
Fully tax-equivalent adjustment		0.02	%		0.02	%
Net interest margin (FTE)1 (non-GAAP)		3.59	%		3.37	%


	For the three months ended
	September 30, 2026								September 30, 2025
				Interest								Interest
	Average			Income/		Average			Average			Income/		Average
	Balance			Expense		Yield/Cost 4			Balance			Expense		Yield/Cost 4
ASSETS
Interest Earning Assets:
Securities:
Taxable Securities and Dividends	$	170,787		$	1,165		2.73	%	$	193,809		$	1,311		2.71	%
Tax-Exempt Securities 1		63,508			405		2.55	%		65,222			408		2.50	%
Total Securities 1		234,295			1,570		2.68	%		259,031			1,719		2.65	%
Total Loans		1,234,915			18,379		5.90	%		1,230,805			17,500		5.64	%
Federal funds sold		77,483			723		3.70	%		25,482			283		4.41	%
Other interest-bearing deposits		9,264			46		1.97	%		7,912			55		2.76	%
Total Earning Assets		1,555,957			20,718		5.28	%		1,523,230			19,557		5.09	%
Less: Allowance for Credit Losses		(8,136	)							(8,362	)
Total Non-Earning Assets		102,881								106,699
Total Assets	$	1,650,702							$	1,621,567

LIABILITIES AND SHAREHOLDERS' EQUITY
Interest Bearing Liabilities:
Interest Bearing Deposits:
Interest Checking	$	260,990		$	69		0.10	%	$	260,217		$	66		0.10	%
Money Market and Savings Deposits		521,889			3,315		2.52	%		468,488			3,026		2.56	%
Time Deposits		278,750			2,442		3.48	%		290,246			2,713		3.71	%
Total Interest-Bearing Deposits		1,061,629			5,826		2.18	%		1,018,951			5,805		2.26	%
Borrowings		20,000			197		3.91	%		42,707			513		4.77	%
Federal funds purchased		-			-		0.00	%		250			3		4.76	%
Junior subordinated debt		3,583			70		7.75	%		3,535			78		8.75	%
Total Interest-Bearing Liabilities		1,085,212			6,093		2.23	%		1,065,443			6,399		2.38	%
Non-Interest-Bearing Liabilities:
Demand deposits		355,730								371,859
Other liabilities		14,791								10,971
Total Liabilities		1,455,733								1,448,273
Shareholders' Equity		194,969								173,294
Total Liabilities & Shareholders' Equity	$	1,650,702							$	1,621,567
Net Interest Income (FTE) 3				$	14,625							$	13,158
Interest Rate Spread 2							3.05	%							2.71	%
Cost of Funds							1.68	%							1.77	%


	For the nine months ended
	September 30, 2026								September 30, 2025
				Interest								Interest
	Average			Income/		Average			Average			Income/		Average
	Balance			Expense		Yield/Cost 4			Balance			Expense		Yield/Cost 4
ASSETS
Interest Earning Assets:
Securities:
Taxable Securities and Dividends	$	179,781		$	3,507		2.60	%	$	199,991		$	4,109		2.74	%
Tax Exempt Securities 1		64,107			1,225		2.55	%		65,753			1,226		2.49	%
Total Securities 1		243,888			4,732		2.59	%		265,744			5,335		2.68	%
Total Loans		1,234,702			52,900		5.73	%		1,234,953			51,864		5.61	%
Federal funds sold		54,651			1,505		3.68	%		16,050			530		4.42	%
Other interest-bearing deposits		8,887			128		1.93	%		8,051			142		2.36	%
Total Earning Assets		1,542,128			59,265		5.14	%		1,524,798			57,871		5.07	%
Less: Allowance for Credit Losses		(8,135	)							(8,398	)
Total Non-Earning Assets		100,057								105,741
Total Assets	$	1,634,050							$	1,622,141

LIABILITIES AND SHAREHOLDERS' EQUITY
Interest Bearing Liabilities:
Interest Bearing Deposits:
Interest Checking	$	270,367		$	205		0.10	%	$	267,854		$	202		0.10	%
Money Market and Savings Deposits		499,688			9,308		2.49	%		465,665			8,957		2.57	%
Time Deposits		284,444			7,505		3.53	%		294,318			8,437		3.83	%
Total Interest-Bearing Deposits		1,054,499			17,018		2.16	%		1,027,837			17,596		2.29	%
Borrowings		20,000			583		3.90	%		44,915			1,604		4.77	%
Federal funds purchased		-			-		0.00	%		759			28		4.93	%
Junior subordinated debt		3,571			211		7.90	%		3,523			224		8.50	%
Total Interest-Bearing Liabilities		1,078,070			17,812		2.21	%		1,077,034			19,452		2.41	%
Non-Interest-Bearing Liabilities:
Demand deposits		351,881								366,117
Other liabilities		12,361								9,891
Total Liabilities		1,442,312								1,453,042
Shareholders' Equity		191,738								169,099
Total Liabilities & Shareholders' Equity	$	1,634,050							$	1,622,141
Net Interest Income (FTE) 3				$	41,453							$	38,419
Interest Rate Spread 2							2.93	%							2.66	%
Cost of Funds							1.67	%							1.80	%