First National Corporation (FXNC) Stock

First National Corporation (FXNC) is a Financials stock trading at $31.00 (as of 2026-08-21), with a market capitalization of $280.28M and a trailing P/E of 12.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

First National Corporation is a bank holding company for First Bank, providing commercial banking services in Virginia. It offers deposit accounts, certificates of deposit, and treasury management, along with construction, residential real estate, commercial real estate, and other secured and unsecured loan products, serving small and medium-sized businesses, individuals, estates, local governmental entities, and non-profit organizations.

Understand First National Corporation: how it makes money

First National Corporation is a bank holding company that operates First Bank, providing commercial banking services in Virginia, including deposit products (checking, savings, money market, IRAs, CDs) and loan products (construction loans, 1-4 family residential loans) plus treasury management solutions.

The profit model is driven by the performance of its lending and deposit businesses, specifically its construction and residential real estate lending and its funding base from checking, savings, money market, IRAs, and CDs, supported by fee-based treasury management solutions.

Business quality (Strong): Business description and operating KPIs are provided, but no official reportable segments and limited financial detail are included (revenue_b is 0.0B, and gross_margin_pct is null) in the dataset.

Valuation: At 13× earnings, FXNC trades in line with the Banking average (13×). Note: one-time items can distort reported P/E.

Bull case

Broad set of core banking products: It offers multiple deposit products (including CDs and IRAs) and multiple loan categories (construction and 1-4 family residential), plus treasury management solutions.
Serves a varied local customer base: The bank serves small and medium-sized businesses, individuals, estates, local governmental entities, and non-profit organizations in Virginia.
Local branch presence: The company reports 33 branch offices, which can support customer relationships for deposits and lending.

Bear case

Credit deterioration risk in loan portfolios: If net charge-offs rise or loans remain past due while still accruing interest, credit quality could weaken.
Sensitivity of construction and real estate lending: Because the loan mix includes construction loans and 1-4 family residential loans, problems in these categories can pressure results through worse delinquencies and losses.

Valuation — source: SEC EDGAR (first-party)
Price	$31.00
Market Cap	$280.28M
P/E Ratio	12.9
EV / EBITDA	3.8
Price / Book	1.45
Price / Sales	19.61
FCF Yield	9.3%
DCF Value (model)	$36.82
DCF Upside vs Price	18.8%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$14.29M
Net Margin	123.9%
Revenue Growth (YoY)	-0.3%
EPS Growth (YoY)	14.3%
FCF Growth (YoY)	58.2%

Valuation vs Sector & Industry
Stock P/E	12.9
Sector P/E (Financials)	15.1
Industry P/E (Banking)	13.0
vs Sector	-14.4%
vs Industry	-0.3%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	Fourthstone LLC ($20.84M)
Institutional Holders Tracked	10

Company
Sector	Financials
Industry	Banking
CEO	Scott C. Harvard
Employees	303
Country	US
IPO Date	1999-01-14

Related Companies (Business model: Universal / Commercial Bank; 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.