Virginia National Bankshares Corporation · NASDAQ:VABK

Virginia National Bankshares — Shareholder Meeting (June 2020)

26 slides from Virginia National Bankshares's shareholder meeting presentation, Jun 25, 2020

  1. Slide 1: Annual Shareholders' Virtual Meeting

    ANNUAL SHAREHOLDERS’ VIRTUAL MEETING June 25, 2020

  2. Slide 2: Forward Looking Statement

    FORWARD LOOKING STATEMENT 1 Certain statements contained or incorporated by reference in this quarterly report on Form 10-Q, including but not limited to, statements concerning future results of operations or financial position, borrowing capacity and future liquidity, future investment results, fut

  3. Slide 3: Introduction

    INTRODUCTION 2 Welcome and Remarks President and CEO, Glenn Rust Financial Presentation CFO, Tara Harrison

  4. Slide 4: Financial Information

    FINANCIAL INFORMATION Presented by Tara Harrison June 25, 2020

  5. Slide 5: Dividend History

    DIVIDEND HISTORY 4 Quarterly dividends of $0.30 per share have been declared in 1Q and 2Q 2020. Cash dividends represent the actual amount paid and have not been adjusted for stock dividends.

  6. Slide 6: Dividend Declaration

    DIVIDEND DECLARATION 5 $0.30 dividend declared first quarter 2020 On June 24, 2020, the Board declared a $0.30 dividend Record date of July 8, 2020 Payable date of July 22, 2020

  7. Slide 7: Consolidated Net Income

    CONSOLIDATED NET INCOME Millions 2016 2017 2017 2018 2019 Pre-DTA Post-DTA VIRGINIA NATIONAL,

  8. Slide 8: Net Income Per Share

    NET INCOME PER SHARE 7 Per share data has been adjusted to reflect the 5% stock dividends effective July 5, 2019 and April 13, 2018.

  9. Slide 9: Return on Average Assets and Equity

    RETURN ON AVERAGE ASSETS AND EQUITY 8

  10. Slide 10: Efficiency Ratio

    EFFICIENCY RATIO 80% 76% 70% 7 60% 50% + 2015 2016 2017 2018 ——VNB ; Peer-Vii Peer = All commercial banks with assets of $100 million to $1 billion Ww VIRGINIA NATIONAL CORONATION

  11. Slide 11: Net Charge-offs to Total Loans

    NET CHARGE-OFFS TO TOTAL LOANS 10

  12. Slide 12: Nonperforming Assets/Total Assets

    NONPERFORMING ASSETS/TOTAL ASSETS 11

  13. Slide 13: Loan Loss Allowance

    LOAN LOSS ALLOWANCE 2.25% 1.75% —=—S_ 125% ———— 0.75% + T T T T T 7 2010 2013 2016 2019 ——VNB ——Peer-National ——Peer-Virginia Peer = All commercial banks with assets of $100 million to $1 billion

  14. Slide 14: VNB Rankings

    VNB RANKINGS 13 Virginia National Bank is ranked #110 in the 2020 Top 200 Community Banks in the United States by American Banker.

  15. Slide 15: 1st Quarter Financial Highlights

    1ST QUARTER FINANCIAL HIGHLIGHTS June 25, 2020

  16. Slide 16: Consolidated Net Interest Income

    CONSOLIDATED NET INTEREST INCOME 15

  17. Slide 17: uu = ie) =) = K uu ]2 [= = <x & = fe)

    uu = ie) =) = K uu ]2 [= = <x & = fe) n 2 fe) 1S) $1.4 $1.4 SUOIIIA VIRGINIA Ni 16

  18. Slide 18: Student Loan Balances

    STUDENT LOAN BALANCES 17 Projections are estimates only; the Company does not undertake to update these projections. Projections are based upon an estimate of amortization and charge-offs within the student loan portfolio; actual result may differ substantially due to the impact of COVID-19.

  19. Slide 19: Student Loans

    STUDENT LOANS 18 Since inception - $13.4 million in interest income recognized 3Q 2015 – 2Q 2018 – avg 5.62% 3Q 2018 – 4.46% 4Q 2018 – 1.61%* 2019 – 3.36%** 2020 YTD – 3.06% In no quarter have charge-offs exceeded income **Active collection strategy in place mid-year *Prior to active collection stra

  20. Slide 20: Corporate Challenges & Initiatives

    CORPORATE CHALLENGES & INITIATIVES Presented by Glenn Rust June 25, 2020

  21. Slide 21: COVID-19

    COVID-19 20 VABK responded quickly to the threat of COVID-19 for the safety of our employees and customers. FEBRUARY Collected information and monitored situation of COVID-19 Management began discussing potential impact of employee environment and necessary precautions COVID-19 Task Force assembled

  22. Slide 22: SBA PPP Loans and Assistance

    SBA PPP LOANS AND ASSISTANCE 21 Processed over 550 applications totaling more than $85 million for the SBA Paycheck Protection Program (PPP) Accommodated requests from borrowers to allow for deferral of payments for a 90-day period in most instances, except as noted below. As of 5/31/2020, payment d

  23. Slide 23: Corporate Changes

    CORPORATE CHANGES 22 Finance Career & Leadership Academy education program Commercial Lender certification and training program Richmond commercial lending team Wealth Management reorganization

  24. Slide 24: Expansion

    EXPANSION 23 Winchester Richmond Charlottesville Virginia National Bankshares Headquarters Roanoke

  25. Slide 25: Questions

    VIRGINIA NATIONAL BANKSHARES CORPORATION QUESTIONS June 25, 2020

  26. Slide 26: Thank You

    VIRGINIA NATIONAL BANKSHARES CORPORATION THANK YOU June 25, 2020

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