First National Corporation · NASDAQ:FXNC

First National — Merger or Acquisition (November 2014)

9 slides from First National's merger presentation, Nov 19, 2014

  1. Slide 1: Investor Presentation - First National Corporation

    Exhibit 99.2 Investor Presentation First National Corporation November 2014

  2. Slide 2: Forward-Looking Statement

    Forward-Looking Statement Certain information contained in this discussion may include “forward- looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relat

  3. Slide 3: Transaction Summary

    Transaction Summary First National Corporation (OTCQB:FXNC), the holding company for First Bank has agreed to purchase six branches from Bank of America in the Shenandoah Valley and central Virginia Average acquired branch size $51 million $308 million in deposits at a deposit premium of 2.25% No lo

  4. Slide 4: Transaction Rationale

    Transaction Rationale Strategic Rationale Financial Impact Risk Profile Expands physical presence in the Shenandoah Valley and central Virginia Ensures core funding for future loan growth Core deposit base with 42% DDAs and 29% MMA and savings Complements new mortgage initiative in Staunton, Virgini

  5. Slide 5: Strong Core Deposit Base

    Strong Core Deposit Base IRAs 9% Checking 22% Interest Checking 20% Savings 7% MMA 22% CDs 20% Total Deposits - $308 million Close to 80% seasoned > 60 months Weighted Average cost of funds 0.21%

  6. Slide 6: Branch Map

    Branch Map

  7. Slide 7: Conclusion

    Conclusion Expands commercial banking presence in the Shenandoah Valley and central Virginia Quicker path to profitability than de novo branch strategy Complements two loan production offices in Staunton and Harrisonburg Excellent deposit franchise Attractive franchise for recruiting commercial bank

  8. Slide 8: Investor Contact

    Investor Contact M. Shane Bell EVP/Chief Financial Officer 540-465-6130 sbell@fbvirginia.com

  9. Slide 9: OTCQB: FXNC

    OTCQB: FXNC

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