Virginia National Bankshares (VABK) investor relations material

Executive summary

• Reported quarterly net income of $6.0 million ($1.10 per diluted share) for Q4 2025, up from $4.6 million ($0.85 per share) in Q4 2024; full-year net income was $19.3 million ($3.55 per share), up from $17.0 million ($3.15 per share) in 2024.

• Improved profitability driven by lower interest expense and stable asset yields despite prime rate reductions.

• Board declared a quarterly cash dividend of $0.36 per share, annual yield of 3.57%.

• Strong capital and liquidity positions maintained, with modest loan growth and robust asset quality.

Financial highlights

• Net interest income for Q4 2025 was $13.3 million, up 9.1% year-over-year; net interest margin (FTE) rose to 3.50% from 3.21%.

• Noninterest income fell 26.2% year-over-year, mainly due to lower debit card fees and prior year debt extinguishment gains.

• Noninterest expense decreased 14.9% year-over-year, reflecting service refunds and credits.

• Efficiency ratio (FTE) improved to 49.5% in Q4 2025 from 60.2% in Q4 2024; full-year ratio improved to 57.6% from 62.0%.

• Book value per share increased to $34.15, tangible book value to $32.21 as of December 31, 2025.

Outlook and guidance

• Management emphasizes continued focus on operating efficiency and sustainable growth.

• Forward-looking statements note risks from economic, regulatory, and market conditions.