First National (FXNC) Q3 2026 earnings summary

Executive summary

• Record Q3 and 9M 2026 performance: net income $6.9M for Q3 and $17.5M for 9M; Q3 basic and diluted EPS $0.76.

• Organic lending growth, improved net interest margin, sound asset quality and expense management supported results.

Financial highlights

• Q3 net interest income was $21.2M, up $1.2M QoQ; FTE net interest margin was 4.38%, versus 4.15% QoQ and 3.84% YoY.

• 9M net interest income was $59.9M, versus $54.3M in 9M 2025; net income was $17.5M, versus $12.2M.

• Q3 noninterest income was $4.1M and noninterest expense was $16.7M; expense rose $259K QoQ, including higher employee benefits and OREO expense.

• Q3 net loan growth was $13.6M, a 3.7% annualized rate; 9M growth was $67.3M, or 4.7%.

Outlook and guidance

• Sale of two North Carolina offices completed in early October; a one-time gain is anticipated in Q4 2026.

• Branch sales and consolidations are expected to reduce office locations from 33 to 28 by year-end, with goals of streamlining operations and improving future profitability.