NASDAQ$VABK
Virginia National Bankshares Corporation · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported solid first quarter results with increased loan balances and stable cost of funds.
Virginia National Bankshares Corporation reported a net income of $3.6 million, or $0.68 per diluted share, for the quarter ended March 31, 2024. The company experienced loan growth and maintained strong credit quality metrics. Deposit balances increased, and the company refrained from using brokered funds and reduced debt, stabilizing the cost of funds.
- Gross loans outstanding reached $1.1 billion, a 20% increase year-over-year.
- Yield on loans elevated to 5.64% for the quarter.
- Nonperforming assets as a percentage of total assets was 0.19%.
- Total deposits increased by $22.9 million, or 1.6%, from December 31, 2023.
Headline financials
Revenue & EPS history
VNB · Revenue · Quarterly
$13.1M
Revenue by segment
VNB · $6.5M total across 5 segments · Q2 2020
- Loans$6.16M—94.7%
- Taxable Securities$229K—3.5%
- Tax-Exempt Securities$92K—1.4%
- Dividends$24K—0.4%
- Federal Funds Sold$10—0.0%
Forward guidance
The Company will continue to repurchase shares in the second quarter in accordance with its share repurchase plan. Effective April 1, 2024, the Company sold the membership interests in Masonry Capital Management, LLC. Subsequent to the date of sale, the Company will receive an annual revenue-share amount for a period of six years.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.1%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+2.1%
Avg return
30 days after
43%
23 / 53 earnings
Positive
+7.4%
Q4 2022
Best reaction
-6.7%
Q2 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.3% | +1.9% | +2.0% | |
| Q4 2025 | +2.4% | +3.2% | -4.8% | |
| Q3 2025 | +1.9% | +0.5% | +2.3% | |
| Q1 2025 | +2.5% | +2.1% | +3.5% | |
| Q4 2024 | +1.4% | +5.5% | +0.7% | |
| Q3 2024 | +3.1% | +1.1% | +2.8% | |
| Q2 2024 | +1.9% | +3.2% | -1.6% | |
| Q1 2024 | +0.8% | +4.5% | +23.7% | |
| Q4 2023 | -3.0% | -7.0% | -14.8% | |
| Q3 2023 | -1.4% | +2.6% | +30.7% | |
| Q2 2023 | +1.3% | +4.5% | +20.0% | |
| Q1 2023 | -0.1% | -1.9% | -18.7% | |
| Q4 2022 | +7.4% | +7.8% | +9.2% | |
| Q3 2022 | +2.4% | +1.5% | +7.7% | |
| Q2 2022 | +1.4% | +1.3% | +3.1% | |
| Q1 2022 | -3.0% | -6.3% | -7.8% | |
| Q4 2021 | -1.0% | -0.8% | -1.7% | |
| Q3 2021 | -0.2% | +0.9% | +0.6% | |
| Q2 2021 | -1.4% | -1.9% | -4.4% | |
| Q1 2021 | -1.3% | -2.1% | -3.8% | |
| Q4 2020 | +1.0% | +1.0% | +3.0% | |
| Q3 2020 | +5.7% | +2.3% | +17.0% | |
| Q2 2020 | +0.0% | +0.0% | +1.0% | |
| Q1 2020 | +0.0% | -5.4% | -4.2% | |
| Q4 2019 | -3.3% | +0.0% | -18.2% | |
| Q3 2019 | +0.0% | +0.1% | +1.3% | |
| Q2 2019 | +0.0% | -0.5% | +0.0% | |
| Q1 2019 | -4.9% | +0.0% | +0.3% | |
| Q4 2018 | +0.0% | +0.0% | -0.6% | |
| Q3 2018 | -0.3% | -1.1% | -9.1% | |
| Q2 2018 | -4.8% | +0.0% | +0.0% | |
| Q1 2018 | +0.4% | +6.5% | +12.4% | |
| Q4 2017 | +4.6% | -0.4% | +11.4% | |
| Q3 2017 | +3.7% | -1.0% | +2.2% | |
| Q2 2017 | -5.4% | -1.1% | +1.7% | |
| Q1 2017 | +4.1% | +4.1% | +5.4% | |
| Q4 2016 | +0.3% | +4.4% | +5.8% | |
| Q3 2016 | -2.9% | +15.9% | +4.4% | |
| Q2 2016 | -6.7% | -3.8% | -1.2% | |
| Q1 2016 | +0.9% | — | — | |
| Q4 2015 | -3.9% | — | — | |
| Q3 2015 | +0.9% | — | — | |
| Q2 2015 | -4.2% | — | — | |
| Q1 2015 | -3.7% | — | — | |
| Q4 2014 | -3.7% | — | — | |
| Q3 2014 | -3.5% | — | — | |
| Q3 2013 | -3.5% | — | — | |
| Q2 2013 | +5.0% | — | — | |
| Q2 2014 | +5.0% | — | — | |
| Q4 2013 | +0.0% | — | — | |
| Q1 2014 | +0.0% | — | — | |
| Q1 2013 | +0.0% | — | — | |
| Q4 2012 | -0.2% | — | — |
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