Virginia National Bankshares Corporation (VABK) 10-Year Financial Performance & Capital Metrics

VABK • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingSoutheast Community Banks

AboutVirginia National Bankshares Corporation operates as the holding company for Virginia National Bank that provides a range of commercial banking services. The company operates through four segments: Bank, Sturman Wealth Advisors, VNB Trust and Estate Services, and Masonry Capital. It 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 and industrial loans, real estate construction and land loans, commercial real estate loans, and 1-4 family residential 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, as well as merchant and debit card services; and wealth and investment advisory, brokerage, insurance, consulting, and related services. Further, the company offers investment management, corporate trustee, trust and estate administration, IRA administration, house investment management, and custody services. It serves individuals, businesses, and charitable organizations. As of December 31, 2021, the company operated sixteen full-service banking facilities in the cities of Charlottesville, Manassas, Richmond, and Winchester, as well as the counties of Albemarle, Fauquier, and Prince William. Virginia National Bankshares Corporation was founded in 1998 and is headquartered in Charlottesville, Virginia.Show more

Net Interest Income $46M -5.5%
Total Revenue $83M +4.5%
Net Income $17M -11.9%
Return on Equity 10.83% -19.5%
Net Interest Margin 2.84% -3.8%
Efficiency Ratio 39.66% -7.9%
ROA 1.04% -11.7%
Equity / Assets 9.91% +6.6%
Book Value per Share 29.73 +4.4%
Tangible BV/Share 27.59 +5.7%
Debt/Equity 0.18 -65.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 20.5%
✓Efficient operations: 39.7% efficiency ratio
✓Healthy dividend yield of 3.3%
✓Trading at only 1.4x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y14.88%

5Y21.22%

3Y12.04%

TTM-

Profit (Net Income) CAGR

10Y24.49%

5Y20.46%

3Y18.99%

TTM-14.67%

EPS CAGR

10Y17.46%

5Y4.81%

3Y13.75%

TTM13.84%

ROCE

10Y Avg12.54%

5Y Avg11.84%

3Y Avg13.5%

Latest9.89%

Peer Comparison

Southeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FFINFirst Financial Bankshares, Inc.	4.68B	32.65	20.93	18.79%	30.24%	14.14%	6.26%	0.12
FHNFirst Horizon Corporation	11.85B	24.44	17.97	4.71%	15.7%	9.58%	10.33%	0.50
AUBAtlantic Union Bankshares Corporation	5.47B	38.36	17.13	28.8%	15.53%	4.22%	5.51%	0.17
UCBUnited Community Banks, Inc.	4.09B	33.91	16.62	14.65%	17.05%	8.83%	7.4%	0.13
SNVSynovus Financial Corp.	6.95B	50.05	16.52	1.16%	14.09%	13.7%	11.01%	0.35
PNFPPinnacle Financial Partners, Inc.	14.67B	97.65	16.38	15.32%	16.65%	9.1%	5.5%	0.39
CADECadence Bank	8.27B	44.40	16.03	32.37%	18.03%	9.08%	9.39%	0.01
ABCBAmeris Bancorp	5.56B	81.41	15.69	9.75%	21.97%	9.91%	2.53%	0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	16.23M	18.18M	21.28M	22.75M	21.81M	23.77M	44.82M	53.27M	48.6M	45.95M
NII Growth %	0.13%	0.12%	0.17%	0.07%	-0.04%	0.09%	0.89%	0.19%	-0.09%	-0.05%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	17.2M	19.12M	22.52M	25.54M	26.09M	27.13M	48.1M	56.45M	69.62M	75.5M
Interest Expense	974K	937K	1.23M	2.79M	4.27M	3.35M	3.28M	3.18M	21.02M	29.55M
Loan Loss Provision	463K	111K	418K	1.87M	1.38M	1.62M	1.01M	106K	734K	-600K
Non-Interest Income+	4.65M	5.27M	5.69M	5.47M	5.47M	6.67M	10.63M	13.54M	9.47M	7.12M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	21.85M	24.39M	28.21M	31.01M	31.56M	33.8M	58.74M	69.99M	79.09M	82.61M
Revenue Growth %	0.06%	0.12%	0.16%	0.1%	0.02%	0.07%	0.74%	0.19%	0.13%	0.04%
Non-Interest Expense	16.1M	14.99M	15.6M	15.81M	17.69M	18.78M	42.52M	38.15M	34.06M	32.76M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	4.32M	8.35M	10.96M	10.54M	8.22M	10.04M	11.92M	28.55M	23.27M	20.9M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.83%	0.93%	0.31%	-0.04%	-0.22%	0.22%	0.19%	1.4%	-0.18%	-0.1%
Pretax Income+	4.32M	8.35M	10.96M	10.54M	8.22M	10.04M	11.92M	28.55M	23.27M	20.9M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.2M	2.6M	4.4M	2.07M	1.53M	2.06M	1.85M	5.11M	4.01M	3.93M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	3.12M	5.75M	6.55M	8.47M	6.69M	7.98M	10.07M	23.44M	19.26M	16.97M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.64%	0.84%	0.14%	0.29%	-0.21%	0.19%	0.26%	1.33%	-0.18%	-0.12%
Net Income (Continuing)	3.12M	5.75M	6.55M	8.47M	6.69M	7.98M	10.07M	23.44M	19.26M	16.97M
EPS (Diluted)+	1.14	2.19	2.46	3.15	2.49	2.95	2.14	4.38	3.58	3.15
EPS Growth %	0.81%	0.92%	0.12%	0.28%	-0.21%	0.18%	-0.27%	1.05%	-0.18%	-0.12%
EPS (Basic)	1.15	2.20	2.49	3.18	2.49	2.95	2.16	4.40	3.60	3.15
Diluted Shares Outstanding	2.8M	2.63M	2.66M	2.69M	2.69M	2.71M	5.31M	5.35M	5.37M	5.39M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	14.2M	10.05M	11.39M	11.74M	14.91M	8.12M	356.38M	40.09M	28.39M	17.1M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	494.9M	535.11M	592.24M	593.69M	649.37M	778.04M	1.36B	1.47B	1.5B	1.49B
Investments Growth %	0.1%	0.08%	0.11%	0%	0.09%	0.2%	0.75%	0.08%	0.02%	-0.01%
Long-Term Investments	420.1M	478.45M	524.74M	532.3M	535.32M	603.95M	1.06B	931.83M	1.08B	1.48B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	372K	372K	372K	372K	372K	8.14M	7.77M	7.77M	7.77M
Intangible Assets	0	680K	579K	477K	408K	341K	8.54M	6.59M	5.09M	3.79M
PP&E (Net)	8.67M	8.05M	7.37M	7.04M	6.14M	8.77M	32.68M	24.34M	22.94M	20.93M
Other Assets	44.48M	44.08M	25.52M	25.61M	22.27M	46.44M	189.26M	43.73M	47.29M	60.77M
Total Current Assets	94.24M	73.41M	85.31M	79M	138.11M	188.54M	673.5M	591.78M	463.27M	29.14M
Total Non-Current Assets	473.25M	531.62M	558.58M	565.8M	564.52M	659.87M	1.3B	1.03B	1.18B	1.59B
Total Assets+	567.62M	605.03M	643.89M	644.8M	702.63M	848.41M	1.97B	1.62B	1.65B	1.62B
Asset Growth %	0.06%	0.07%	0.06%	0%	0.09%	0.21%	1.32%	-0.18%	0.01%	-0.02%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	1.57M	1.63M	1.73M	1.52M	5.31M	1.46M	3.55M	2.02M	3.95M	0
Total Debt+	23.16M	19.7M	34.09M	0	0	33.59M	10.47M	9.59M	79.92M	29.13M
Net Debt	8.96M	9.65M	22.7M	-11.74M	-14.91M	25.47M	-345.9M	-30.5M	51.53M	12.03M
Long-Term Debt	0	0	0	0	0	30M	3.37M	3.41M	69.96M	23.51M
Short-Term Debt	23.16M	19.7M	34.09M	0	0	0	0	0	3.46M	236K
Other Liabilities	0	0	0	0	0	0	0	0	0	3.85M
Total Current Liabilities	511.19M	545.98M	578.78M	574.06M	626.52M	732.22M	1.8B	1.48B	1.42B	1.42B
Total Non-Current Liabilities	0	0	0	0	0	33.59M	10.47M	9.59M	76.46M	32.74M
Total Liabilities	511.24M	545.98M	578.78M	574.06M	626.52M	765.81M	1.81B	1.49B	1.49B	1.46B
Total Equity+	56.38M	59.05M	65.11M	70.74M	76.11M	82.6M	161.99M	133.42M	153.04M	160.3M
Equity Growth %	-0.07%	0.05%	0.1%	0.09%	0.08%	0.09%	0.96%	-0.18%	0.15%	0.05%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.05%	0.1%	0.11%	0.12%	0.09%	0.1%	0.08%	0.16%	0.13%	0.11%
Book Value per Share	20.11	22.47	24.45	26.34	28.29	30.50	30.52	24.93	28.48	29.73
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	6.03M	5.92M	6.03M	6.36M	6.72M	6.72M	13.18M	13.21M	13.26M	13.26M
Additional Paid-in Capital	22.21M	21.15M	22.04M	27.01M	32.2M	32.46M	104.58M	105.34M	106.05M	106.39M
Retained Earnings	28.26M	32.76M	37.78M	38.65M	37.23M	41.96M	46.44M	63.48M	73.78M	82.51M
Accumulated OCI	-118K	-779K	-883K	-1.28M	-43K	1.46M	-2.21M	-48.62M	-40.04M	-41.86M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	5.54M	5.29M	8.79M	11.76M	9.35M	9.25M	13.06M	22.68M	13.9M	15.29M
Operating CF Growth %	-0.28%	-0.04%	0.66%	0.34%	-0.21%	-0.01%	0.41%	0.74%	-0.39%	0.1%
Net Income	3.12M	5.75M	6.55M	8.47M	6.69M	7.98M	10.07M	23.44M	19.26M	16.97M
Depreciation & Amortization	1.16M	1.27M	1.25M	1.23M	1.2M	1.96M	4.4M	5.08M	4.77M	4.26M
Deferred Taxes	373K	77K	768K	-234K	91K	-214K	702K	-138K	-473K	-10K
Other Non-Cash Items	832K	-66K	481K	1.74M	794K	1.17M	-1.6M	-4.22M	-9.57M	-4.73M
Working Capital Changes	20K	-1.77M	-268K	495K	41K	-1.9M	-1.03M	-2.16M	-811K	-2.16M
Cash from Investing+	-43.82M	-42.87M	-61.32M	-4.44M	-54.77M	-129.95M	262.19M	-167.2M	-19.77M	15.75M
Purchase of Investments	-26.77M	-18.98M	-45.29M	0	-79.75M	-167.36M	-74.43M	-316.35M	-83.16M	0
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	-700K	-300K	-100K	-50K	-50K	153.28M	0	0	0
Other Investing	-109.6M	-58.48M	-49.29M	-9.43M	-3.22M	-71.58M	152.91M	126.98M	-149.83M	-137.74M
Cash from Financing+	27.7M	32.55M	32.3M	-6.72M	45.63M	136.31M	198.89M	-324.19M	-5.88M	-42.33M
Dividends Paid	-891K	-1.09M	-1.39M	-2.47M	-3.14M	-3.25M	-6.41M	-6.39M	-7.07M	-7.09M
Share Repurchases	-6.34M	-1.26M	0	0	-5K	0	0	0	0	-559K
Stock Issued	0	0	0	0	0	0	30K	23K	18K	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	1000K	-1000K	0	1000K	-1000K	0	1000K	-1000K
Other Financing	34.93M	34.91M	18.68M	10.75M	48.78M	109.55M	247.85M	-317.82M	-65.33M	11.22M
Net Change in Cash+	-10.58M	-5.03M	-20.22M	597K	211K	15.61M	474.14M	-468.7M	-11.75M	-11.29M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	54.11M	43.53M	38.5M	18.28M	18.87M	19.09M	34.7M	508.84M	40.14M	28.39M
Cash at End	43.53M	38.5M	18.28M	18.87M	19.09M	34.7M	508.84M	40.14M	28.39M	17.1M
Interest Paid	985K	936K	1.23M	2.66M	4.22M	3.49M	3.27M	3.2M	22.15M	29.77M
Income Taxes Paid	904K	2.69M	3.77M	2.46M	1.93M	2.75M	1.22M	4.45M	3.81M	3.58M
Free Cash Flow+	5.17M	4.71M	8.33M	10.91M	9.16M	9.05M	11.77M	22.14M	12.73M	14.56M
FCF Growth %	-0.24%	-0.09%	0.77%	0.31%	-0.16%	-0.01%	0.3%	0.88%	-0.42%	0.14%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.33%	9.96%	10.56%	12.47%	9.11%	10.05%	8.24%	15.87%	13.45%	10.83%
Return on Assets (ROA)	0.57%	0.98%	1.05%	1.31%	0.99%	1.03%	0.71%	1.3%	1.18%	1.04%
Net Interest Margin	2.86%	3.01%	3.31%	3.53%	3.1%	2.8%	2.27%	3.28%	2.95%	2.84%
Efficiency Ratio	73.66%	61.47%	55.3%	50.98%	56.07%	55.57%	72.39%	54.51%	43.07%	39.66%
Equity / Assets	9.93%	9.76%	10.11%	10.97%	10.83%	9.74%	8.21%	8.22%	9.3%	9.91%
Book Value / Share	20.11	22.47	24.45	26.34	28.29	30.5	30.52	24.93	28.48	29.73
NII Growth	12.9%	12.08%	17.03%	6.91%	-4.12%	8.99%	88.51%	18.85%	-8.76%	-5.47%
Dividend Payout	28.55%	19%	21.13%	29.11%	47%	40.71%	63.63%	27.27%	36.72%	41.77%

Frequently Asked Questions

Valuation & Price

Virginia National Bankshares Corporation (VABK) has a price-to-earnings (P/E) ratio of 12.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Virginia National Bankshares Corporation (VABK) grew revenue by 4.5% over the past year. Growth has been modest.

Yes, Virginia National Bankshares Corporation (VABK) is profitable, generating $13.3M in net income for fiscal year 2024 (20.5% net margin).

Dividend & Returns

Yes, Virginia National Bankshares Corporation (VABK) pays a dividend with a yield of 3.25%. This makes it attractive for income-focused investors.

Virginia National Bankshares Corporation (VABK) has a return on equity (ROE) of 10.8%. This is reasonable for most industries.

Industry Metrics

Virginia National Bankshares Corporation (VABK) has a net interest margin (NIM) of 2.8%. NIM has been under pressure due to interest rate environment.

Virginia National Bankshares Corporation (VABK) has an efficiency ratio of 39.7%. This is excellent, indicating strong cost control.

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