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Virginia National Bankshares Corporation operates as the holding company for Virginia National Bank that provides a range of commercial and retail banking products and services in Virginia. It operates through two segments: Bank and VNB Trust and Estate Services. The company provides checking accounts, demand deposits, NOW accounts, money market deposit accounts, time deposits, certificates of deposit, individual retirement accounts, and other depository services. The company also offers commercial loans, real estate construction and land loans, commercial real estate loans, 1-4 family residential mortgages, and commercial mortgages, as well as consumer loans comprising student loans, revolving credit, and other fixed payment loans. In addition, it provides automated teller machines, internet banking, treasury, and cash management services; merchant and debit card services; and investment advisory and management services. Further, the company offers investment management, wealth management, corporate trustee, trust and estate administration, IRA administration, in-house investment management, and custody services. It serves individuals, businesses, and charitable organizations. The company was formerly known as Virginia National Bank and changed its name to Virginia National Bankshares Corporation in December 2013. The company was founded in 1998 and is headquartered in Charlottesville, Virginia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $58M | - | $19M | $21M | 10.5% | 8.6% | 13.5% |
| 2024 | $53M | - | $17M | $15M | 10.6% | -8.6% | -11.9% |
| 2023 | $58M | - | $19M | $13M | 12.6% | -13.1% | -17.8% |
| 2022 | $67M | - | $23M | $22M | 17.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 66.80 | 58.07 | 53.06 | 57.60 |
| Pretax Income | 28.55 | 23.27 | 20.90 | 24.08 |
| Tax Provision | 5.11 | 4.01 | 3.93 | 4.82 |
| Net Income | 23.44 | 19.26 | 16.97 | 19.26 |
| Net Income Common Stockholders | 23.44 | 19.26 | 16.97 | 19.26 |
| Interest Expense | 3.18 | 21.02 | 29.55 | 25.74 |
| Interest Income | 56.45 | 69.62 | 75.50 | 76.80 |
| Selling General And Administration | 19 | 17.71 | 17.36 | 17.24 |
| Normalized Income | 22.45 | 19.17 | 16.20 | 19.04 |
| Basic EPS | 4.40 | 3.60 | 3.16 | 0 |
| Diluted EPS | 4.38 | 3.58 | 3.15 | 0 |
| Tax Effect Of Unusual Items | 0.22 | 0.02 | 0.18 | 0.06 |
| Tax Rate For Calcs | 0.18 | 0.17 | 0.19 | 0.20 |
| Total Unusual Items | 1.21 | 0.11 | 0.94 | 0.28 |
| Total Unusual Items Excluding Goodwill | 1.21 | 0.11 | 0.94 | 0.28 |
| Net Income From Continuing Operation Net Minority Interest | 23.44 | 19.26 | 16.97 | 19.26 |
| Reconciled Depreciation | 5.08 | 4.77 | 4.26 | 3.99 |
| Net Interest Income | 53.27 | 48.60 | 45.95 | 51.06 |
| Net Income From Continuing And Discontinued Operation | 23.44 | 19.26 | 16.97 | 19.26 |
| Diluted Average Shares | 5.35 | 5.39 | 5.39 | 0 |
| Basic Average Shares | 5.32 | 5.36 | 5.37 | 0 |
| Diluted NI Availto Com Stockholders | 23.44 | 19.26 | 16.97 | 19.26 |
| Net Income Including Noncontrolling Interests | 23.44 | 19.26 | 16.97 | 19.26 |
| Net Income Continuous Operations | 23.44 | 19.26 | 16.97 | 19.26 |
| Special Income Charges | 0.16 | 0 | 0.90 | 0 |
| Gain On Sale Of Business | 0.40 | 0 | 0 | 0 |
| Other Special Charges | -2.40 | 0 | 0 | 0 |
| Write Off | 0.24 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | 0 | 0.25 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | 1.68 | 1.49 | 1.30 | 1.11 |
| Depreciation And Amortization In Income Statement | 1.68 | 1.49 | 1.30 | 1.11 |
| Amortization | 1.68 | 1.49 | 1.30 | 1.11 |
| Amortization Of Intangibles Income Statement | 1.68 | 1.49 | 1.30 | 1.11 |
| Selling And Marketing Expense | 1.22 | 1.10 | 0.73 | 0.76 |
| General And Administrative Expense | 17.77 | 16.61 | 16.63 | 16.48 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 0.51 | 0.71 | 0.70 | 0.79 |
| Salaries And Wages | 17.26 | 15.90 | 15.93 | 15.69 |
| Operating Revenue | 66.80 | 58.07 | 53.06 | 57.60 |
| Occupancy And Equipment | 5.42 | 4.78 | 4.38 | 4.27 |
| Professional Expense And Contract Services Expense | 1.36 | 0.67 | 0.89 | 1.15 |
| Other Non Interest Expense | 10.86 | 9.41 | 9.73 | 9.62 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Virginia National Bankshares Corporationthis co. | VABK | $229M | 11.44↑ premium | 1.24 | 10.5% | - |
| First United Corporation | FUNC | $239M | 9.50 | 1.17 | 12.0% | - |
| Security National Financial Corporation | SNFCA | $238M | 7.63 | 0.58 | 7.8% | 4.28 |
| Hawthorn Bancshares, Inc. | HWBK | $232M | 9.82 | 1.33 | 13.7% | - |
| LCNB Corp. |
| LCNB |
| $231M |
| 10.07 |
| 0.84 |
| 8.4% |
| - |
| National Bankshares, Inc. | NKSH | $228M | 12.95 | 1.23 | 8.6% | - |
| FinWise Bancorp | FINW | $218M | 14.09 | 1.13 | 8.3% | - |
| Meridian Corporation | MRBK | $218M | 8.87 | 1.07 | 10.9% | - |
| Medallion Financial Corp. | MFIN | $218M | 5.20 | 0.51 | 9.2% | 13.46 |
| Peer Median | - | 9.66 | 1.10 | 8.9% | 8.87 | |