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First National (FXNC) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · First National (FXNC) Q2 2026 earnings results →
Q2 2026 Revenue up 7% year over year to $24.0M · 24¢ of every $1 of revenue kept as net profit · operating margin 29.7%
First National made $24.0M in Q2 2026 (+7% Y/Y). Operating margin 29.7%, net earnings $5.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $24.0M in Q2 2026, up 7% year over year and up 7% from the previous quarter.
Operating profit was $7.1M, a 29.7% margin (up 1.5 points year over year). Of the extra revenue versus Q2 2025, 51% reached operating profit, above the 28% margin then. Total costs grew 5% against revenue growth of 7%. Net earnings were $5.7M, up 14% year over year. The effective tax rate was 19.5%.
Operating cash flow was $6.9M (up 47% year over year), 121% of net earnings. Non-cash charges added back $732K of depreciation and amortization and $221K of share-based compensation. Capital expenditures of $426K left free cash flow of $6.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $24.0M | +7% | 29.7% | $5.7M | $6.9M |
| Q1 2026 | 10-Q | May 13, 2026 | $22.5M | +7% | 27.0% | $4.9M | $6.4M |
| Q4 2025 | 10-K | Mar 25, 2026 | $24.0M | -3% | 28.8% | $5.5M | $8.4M |
| Q3 2025 | 10-Q | Nov 14, 2025 | $22.8M | +52% | 29.9% | $5.5M | $8.4M |
| Q2 2025 | 10-Q | Aug 13, 2025 | $22.4M | +58% | 28.2% | $5.1M | $4.7M |
| Q1 2025 | 10-Q | May 14, 2025 | $21.1M | +41% | 9.0% | $1.6M | $3.5M |
| Q4 2024 | 10-K | Mar 31, 2025 | $24.8M | +79% | -7.6% | −$933K | −$36.7M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About First National
First National Corporation (NASDAQ: FXNC) is the parent company and bank holding company of First Bank, a community bank that first opened for business in 1907 in Strasburg, Virginia. The Bank offers loan and deposit products and services through its bankers, consumer and business mobile banking platforms, a network of ATMs located throughout its market area, a loan production office, a customer service center in a retirement community, and thirty-three banking office locations located throughout the Shenandoah Valley, the Roanoke Valley, the Richmond MSA, the south-central regions of Virginia, and in northern North Carolina. In addition to providing traditional banking services, the Bank operates a wealth management division under the name First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc., which owns an interest in a title insurance company.
In its own words, from its 8-K, filed Jul 29, 2026.
First National against its State Commercial Banks peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +10%. Operating margin: 29.7% against the peers' median 34.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FXNC First National | Q2 2026 | $24.0M | +7% | 29.7% |
| BNY Bank of New York Mellon | Q3 2026 | $5.7B | +12% | 38.5% |
| STT State Street | Q3 2026 | $4.0B | +13% | 34.7% |
| FITB Fifth Third Bancorp | Q3 2026 | $3.3B | +42% | 33.8% |
| MTB M&T Bank | Q3 2026 | $2.5B | +0.9% | 39.7% |
| FCNCA First Citizens Bancshares | Q3 2026 | $2.4B | 0% | 33.1% |
| ALLY Ally Financial | Q3 2026 | $2.3B | +8% | 24.3% |
| CFG Citizens Financial Group | Q3 2026 | $2.3B | +10% | 34.6% |
| NTRS Northern Trust | Q3 2026 | $2.3B | +13% | 34.7% |
Source: First National 10-Q on SEC EDGAR · CIK 719402 · State Commercial Banks
13F: who owns FXNC and who is buying
More on FXNC
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results
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