First National Corporation reports Q4 EPS 76c vs 35c last year

At December 31, 2022, assets totaled $1.4 billion, which was a decrease of $14.2 million, or 1%, from September 30, 2022, and a decrease of $20.1 million, or 1%, from December 31, 2021. "First National Corporation continued to deliver excellent financial results in the fourth quarter with 6% annualized loan growth, strong credit metrics, and an improved net interest margin and efficiency ratio," said Scott C. Harvard, president and chief executive officer of First National. "The record results for the year reflect solid execution of recent strategic expansion initiatives and we expect those initiatives to continue to build long term value for our shareholders. The Company will remain vigilant in its credit underwriting and portfolio management going into a year of economic uncertainties. We believe the record earnings for 2022 validate our strategy of organic growth built on people and relationships, combined with strategic acquisitions."