First National Corp (FXNC) - Net Assets
Based on the latest financial reports, First National Corp (FXNC) has net assets worth $186.20 Million USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.04 Billion) and total liabilities ($1.85 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check FXNC financial resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $186.20 Million |
| % of Total Assets | 9.13% |
| Annual Growth Rate | 9.03% |
| 5-Year Change | 59.09% |
| 10-Year Change | 266.9% |
| Growth Volatility | 14.66 |
First National Corp - Net Assets Trend (1995–2025)
This chart illustrates how First National Corp's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of First National Corp for the complete picture of this company's asset base.
Annual Net Assets for First National Corp (1995–2025)
The table below shows the annual net assets of First National Corp from 1995 to 2025. For live valuation and market cap data, see First National Corp (FXNC) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $186.20 Million | +11.81% |
| 2024-12-31 | $166.53 Million | +43.23% |
| 2023-12-31 | $116.27 Million | +7.30% |
| 2022-12-31 | $108.36 Million | -7.42% |
| 2021-12-31 | $117.04 Million | +37.83% |
| 2020-12-31 | $84.92 Million | +9.97% |
| 2019-12-31 | $77.22 Million | +15.82% |
| 2018-12-31 | $66.67 Million | +14.65% |
| 2017-12-31 | $58.15 Million | +14.59% |
| 2016-12-31 | $50.75 Million | +10.43% |
| 2015-12-31 | $45.95 Million | -22.85% |
| 2014-12-31 | $59.56 Million | +10.94% |
| 2013-12-31 | $53.69 Million | +19.55% |
| 2012-12-31 | $44.91 Million | +21.07% |
| 2011-12-31 | $37.10 Million | -23.51% |
| 2010-12-31 | $48.50 Million | -11.51% |
| 2009-12-31 | $54.81 Million | +39.87% |
| 2008-12-31 | $39.19 Million | +3.50% |
| 2007-12-31 | $37.86 Million | +16.29% |
| 2006-12-31 | $32.55 Million | +10.77% |
| 2005-12-31 | $29.39 Million | +12.61% |
| 2004-12-31 | $26.10 Million | -1.52% |
| 2003-12-31 | $26.50 Million | +9.27% |
| 2002-12-31 | $24.25 Million | +12.29% |
| 2001-12-31 | $21.60 Million | +11.75% |
| 2000-12-31 | $19.33 Million | +12.54% |
| 1999-12-31 | $17.18 Million | -2.41% |
| 1998-12-31 | $17.60 Million | +8.77% |
| 1997-12-31 | $16.18 Million | +9.07% |
| 1996-12-31 | $14.84 Million | +6.68% |
| 1995-12-31 | $13.91 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to First National Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1125.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $108.94 Million | 58.51% |
| Common Stock | $11.28 Million | 6.06% |
| Other Comprehensive Income | $-12.24 Million | -6.57% |
| Other Components | $78.22 Million | 42.01% |
| Total Equity | $186.20 Million | 100.00% |
First National Corp Competitors by Market Cap
The table below lists competitors of First National Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Wireless Power Amplifier Module Inc
KQ:332570
|
$235.96 Million |
|
Eurobio Scientific SA
PA:ALERS
|
$236.10 Million |
|
Netronix
TWO:6143
|
$236.16 Million |
|
Izmir Demir Celik Sanayi AS
IS:IZMDC
|
$236.18 Million |
|
Hyundai Cement
KO:006390
|
$235.90 Million |
|
Secuoya Grupo de Comunicación S.A
MC:SEC
|
$235.80 Million |
|
NexPoint Strategic Opportunities Fund
NYSE:NXDT
|
$235.79 Million |
|
Activate Energy Acquisition Corp. Class A Ordinary Share
NASDAQ:AEAQ
|
$235.74 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First National Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 166,531,000 to 186,196,000, a change of 19,665,000 (11.8%).
- Net income of 17,703,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 6,453,000.
- Other factors decreased equity by 4,491,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $17.70 Million | +9.51% |
| Other Comprehensive Income | $6.45 Million | +3.47% |
| Other Changes | $-4.49 Million | -2.41% |
| Total Change | $- | 11.81% |
Book Value vs Market Value Analysis
This analysis compares First National Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.31x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 6.04x to 1.31x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1995-12-31 | $4.50 | $27.14 | x |
| 1996-12-31 | $4.80 | $27.14 | x |
| 1997-12-31 | $5.22 | $27.14 | x |
| 1998-12-31 | $5.59 | $27.14 | x |
| 1999-12-31 | $5.42 | $27.14 | x |
| 2000-12-31 | $6.08 | $27.14 | x |
| 2001-12-31 | $6.83 | $27.14 | x |
| 2002-12-31 | $7.67 | $27.14 | x |
| 2003-12-31 | $7.94 | $27.14 | x |
| 2004-12-31 | $8.91 | $27.14 | x |
| 2005-12-31 | $10.04 | $27.14 | x |
| 2006-12-31 | $11.17 | $27.14 | x |
| 2007-12-31 | $13.03 | $27.14 | x |
| 2008-12-31 | $13.45 | $27.14 | x |
| 2009-12-31 | $18.76 | $27.14 | x |
| 2010-12-31 | $16.45 | $27.14 | x |
| 2011-12-31 | $12.55 | $27.14 | x |
| 2012-12-31 | $11.39 | $27.14 | x |
| 2013-12-31 | $10.95 | $27.14 | x |
| 2014-12-31 | $12.14 | $27.14 | x |
| 2015-12-31 | $9.35 | $27.14 | x |
| 2016-12-31 | $10.29 | $27.14 | x |
| 2017-12-31 | $11.76 | $27.14 | x |
| 2018-12-31 | $13.45 | $27.14 | x |
| 2019-12-31 | $15.54 | $27.14 | x |
| 2020-12-31 | $17.40 | $27.14 | x |
| 2021-12-31 | $21.05 | $27.14 | x |
| 2022-12-31 | $17.31 | $27.14 | x |
| 2023-12-31 | $18.52 | $27.14 | x |
| 2024-12-31 | $23.89 | $27.14 | x |
| 2025-12-31 | $20.65 | $27.14 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First National Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.51%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 15.78%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 10.95x
- Recent ROE (9.51%) is below the historical average (9.57%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1995 | 9.45% | 23.75% | 0.04x | 9.51x | $-76.25K |
| 1996 | 9.80% | 24.80% | 0.04x | 9.52x | $-29.45K |
| 1997 | 9.96% | 23.57% | 0.04x | 10.17x | $-6.91K |
| 1998 | 10.82% | 21.92% | 0.05x | 10.86x | $144.58K |
| 1999 | 11.84% | 12.45% | 0.08x | 12.03x | $316.65K |
| 2000 | 11.05% | 11.64% | 0.08x | 11.86x | $203.84K |
| 2001 | 12.02% | 13.74% | 0.08x | 11.54x | $435.31K |
| 2002 | 12.28% | 15.20% | 0.07x | 12.20x | $553.80K |
| 2003 | 14.05% | 15.45% | 0.06x | 14.62x | $950.73K |
| 2004 | 16.11% | 16.86% | 0.06x | 15.66x | $1.60 Million |
| 2005 | 18.34% | 17.74% | 0.06x | 16.16x | $2.45 Million |
| 2006 | 17.81% | 15.21% | 0.07x | 16.22x | $2.54 Million |
| 2007 | 15.18% | 13.82% | 0.08x | 14.30x | $1.96 Million |
| 2008 | 10.78% | 11.46% | 0.07x | 13.99x | $304.50K |
| 2009 | 3.92% | 6.51% | 0.06x | 10.08x | $-3.33 Million |
| 2010 | -7.43% | -11.10% | 0.06x | 11.23x | $-8.45 Million |
| 2011 | -29.55% | -35.60% | 0.06x | 14.53x | $-14.67 Million |
| 2012 | 6.23% | 9.35% | 0.06x | 11.86x | $-1.69 Million |
| 2013 | 18.39% | 36.36% | 0.05x | 9.74x | $4.50 Million |
| 2014 | 12.81% | 28.07% | 0.05x | 8.70x | $1.67 Million |
| 2015 | 5.78% | 8.99% | 0.04x | 15.07x | $-1.94 Million |
| 2016 | 11.64% | 17.97% | 0.05x | 14.12x | $832.20K |
| 2017 | 11.09% | 18.35% | 0.05x | 12.71x | $632.60K |
| 2018 | 15.20% | 25.67% | 0.05x | 11.29x | $3.47 Million |
| 2019 | 12.38% | 23.56% | 0.05x | 10.36x | $1.83 Million |
| 2020 | 10.43% | 22.09% | 0.04x | 11.20x | $366.40K |
| 2021 | 8.85% | 22.44% | 0.03x | 11.87x | $-1.34 Million |
| 2022 | 15.50% | 27.68% | 0.04x | 12.64x | $5.96 Million |
| 2023 | 8.28% | 14.18% | 0.05x | 12.21x | $-2.00 Million |
| 2024 | 4.18% | 7.89% | 0.04x | 12.07x | $-9.69 Million |
| 2025 | 9.51% | 15.78% | 0.06x | 10.95x | $-916.60K |
Industry Comparison
This section compares First National Corp's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $552,557,300
- Average return on equity (ROE) among peers: 11.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First National Corp (FXNC) | $186.20 Million | 9.45% | 9.95x | $235.92 Million |
| Ameris Bancorp (ABCB) | $1.46 Billion | 8.31% | 6.86x | $4.95 Billion |
| Ameris Bancorp (ABCB) | $120.94 Million | 10.83% | 9.48x | $5.70 Billion |
| ACNB Corporation (ACNB) | $74.01 Million | 9.97% | 11.77x | $483.21 Million |
| Affinity Bancshares Inc (AFBI) | $129.12 Million | 4.21% | 5.71x | $135.98 Million |
| Alerus Financial Corp (ALRS) | $153.31 Million | 13.22% | 8.01x | $647.19 Million |
| Amalgamated Bank (AMAL) | $535.82 Million | 8.62% | 10.16x | $1.14 Billion |
| Amerant Bancorp Inc. (AMTB) | $901.22 Million | 12.53% | 7.48x | $962.39 Million |
| Arrow Financial Corporation (AROW) | $72.29 Million | 17.85% | 12.85x | $601.02 Million |
| Associated Banc-Corp (ASB) | $2.02 Billion | 12.80% | 9.17x | $5.20 Billion |
| AmeriServ Financial Inc (ASRV) | $65.10 Million | 11.83% | 10.90x | $62.60 Million |
About First National Corp
First National Corporation operates as the bank holding company for First Bank that provides various commercial banking services to small and medium-sized businesses, individuals, estates, local governmental entities, and non-profit organizations in Virginia. The company's deposit products include checking, savings, money market, and individual retirement accounts, as well as certificates of depo… Read more