Virginia National Bankshares Corporation (VABK) Financial Statements (2024 and earlier)

Company Profile

Business Address 404 PEOPLE PLACE
CHARLOTTESVILLE, VA 22911
State of Incorp. VA
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments29,93935,26940,09191,967162,848328,085
Cash and cash equivalents29,93935,26940,09191,967162,848328,085
Asset, held-for-sale, not part of disposal group   965   
Total current assets:29,93935,26941,05691,967162,848328,085
Noncurrent Assets
Operating lease, right-of-use asset6,6346,3366,5366,9417,3437,744
Property, plant and equipment17,56417,67617,80818,81719,19324,680
Intangible assets, net (including goodwill)27,07327,09327,10228,99328,96129,017
Goodwill7,7687,7687,7688,1408,1408,140
Intangible assets, net (excluding goodwill)19,30519,32519,33420,85320,82120,877
Total noncurrent assets:51,27151,10551,44654,75155,49761,441
Other undisclosed assets1,502,8781,485,1541,530,8571,587,0381,526,5951,545,681
TOTAL ASSETS:1,584,0881,571,5281,623,3591,733,7561,744,9401,935,207
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt59,66619,250    
Total current liabilities:59,66619,250    
Noncurrent Liabilities
Long-term debt and lease obligation:    6,5516,9257,295
Liabilities, other than long-term debt6,3015,9686,173   
Operating lease, liability6,3015,9686,1736,5516,9257,295
Total noncurrent liabilities:6,3015,9686,17313,10213,85014,590
Other undisclosed liabilities1,375,6821,404,8131,483,7701,594,6801,596,8741,774,598
Total liabilities:1,441,6491,430,0311,489,9431,607,7821,610,7241,789,188
Equity
Equity, attributable to parent142,439141,497133,416125,974134,216146,019
Common stock13,25013,23813,21413,21413,20113,190
Additional paid in capital105,667105,491105,344105,095104,858104,706
Accumulated other comprehensive loss(45,980)(42,853)(48,624)(50,361)(37,695)(21,641)
Retained earnings69,50265,62163,48258,02653,85249,764
Total equity:142,439141,497133,416125,974134,216146,019
TOTAL LIABILITIES AND EQUITY:1,584,0881,571,5281,623,3591,733,7561,744,9401,935,207

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues
(Net Investment Income)
18,33216,37016,27614,94613,16512,344
Cost of revenue (261) (106)(39) (148)
Provision for loan, lease, and other losses (261)  (39) (148)
Gross profit:18,07116,37016,17014,90713,16512,196
Operating expenses(2,208)(2,488)(2,038)(2,683)(1,531)(2,539)
Other operating income, net
(Noninterest Income, Other Operating Income)
352394411138268231
Operating income:16,21514,27614,54312,36211,9029,888
Nonoperating income
(Bank Owned Life Insurance Income)
261252254252246211
Interest and debt expense(4,629)(2,957)(892)(669)(704)(919)
Income from continuing operations before equity method investments, income taxes:11,84711,57113,90511,94511,4449,180
Other undisclosed loss from continuing operations before income taxes(4,924)(4,495)(5,245)(4,910)(4,562)(3,211)
Income from continuing operations before income taxes:6,9237,0768,6607,0356,8825,969
Income tax expense(1,272)(1,285)(1,603)(1,263)(1,197)(1,045)
Income from continuing operations:5,6515,7917,0575,7725,6854,924
Income before gain (loss) on sale of properties:5,7725,6854,924
Net income available to common stockholders, diluted:5,6515,7917,0575,7725,6854,924

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:5,6515,7917,0575,7725,6854,924
Other comprehensive income (loss)  7,8212,336(49)(42)(24,955)
Comprehensive income (loss):5,65113,6129,3935,7235,643(20,031)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(3,127)(2,050)(599)(12,617)(16,012)5,525
Comprehensive income (loss), net of tax, attributable to parent:2,52411,5628,794(6,894)(10,369)(14,506)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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