Business
VIRGINIA NATIONAL BANKSHARES CORPORATION ANNOUNCES 2025 FIRST QUARTER EARNINGS AND INCREASE IN QUARTERLY DIVIDEND
Virginia National Bankshares Corporation (NASDAQ: VABK) (the "Company") today reported quarterly net income of $4.5 million, or $0.83 per diluted share, for the quarter ended March 31, 2025, compared to $3.6 million, or $0.68 per diluted share, recognized for the quarter ended March 31, 2024.
About this update from Virginia National Bankshares Corporation
[{"type":"text","content":"CHARLOTTESVILLE, Va., April 24, 2025 /PRNewswire/ -- Virginia National Bankshares Corporation (NASDAQ: VABK) (the "Company") today reported quarterly net income of $4.5 million, or $0.83 per diluted share, for the quarter ended March 31, 2025, compared to $3.6 million, or $0.68 per diluted share, recognized for the quarter ended March 31, 2024.","length":356,"tagName":"p"},{"type":"image","alt":"Virginia National Bankshares Corporation (PRNewsfoto/Virginia National Bankshares)","displaySize":"","headline":null,"caption":"Virginia National Bankshares Corporation (PRNewsfoto/Virginia National Bankshares)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":400,"url":"https://media.zenfs.com/en/prnewswire.com/d0091f1e8b81886db7683443d98f8666"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/GycX3fblr2mOS1piWRXtPQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTcwNTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/d0091f1e8b81886db7683443d98f8666","width":400,"height":400}},"href":"https://mma.prnewswire.com/media/1500288/Virginia_National_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The increase in first quarter net income year-over-year was primarily the result of increased net interest income, resulting from increased interest income from higher average loan balances compared to the prior period, combined with decreased interest expense, as we reduced our cost of funds associated with deposits as well as borrowings.","length":341,"tagName":"p"},{"type":"text","content":"Dividend Declaration","length":20,"tagName":"p"},{"type":"text","content":"On April 23, 2025, the Company's Board of Directors declared a quarterly cash dividend of $0.36 per share of common stock payable on May 30, 2025, to the holders of record at the close of business on May 15, 2025. The quarterly cash dividend represents an annual yield to shareholders of approximately 4.09% based on the closing price of the Company's common stock on April 23, 2025 and an increase of 9.1% over the prior quarterly dividend of $0.33 per share.","length":474,"tagName":"p"},{"type":"text","content":"President and Chief Executive Officer's comments: "The Bank reported a strong first quarter, producing net income of $4.5 million, a 23% increase over net income of $3.6 million posted a year ago...