First National Management

Management criteria checks 4/4

First National's CEO is Scott Harvard, appointed in May 2011, has a tenure of 13.5 years. total yearly compensation is $593.47K, comprised of 73.4% salary and 26.6% bonuses, including company stock and options. directly owns 1.12% of the company’s shares, worth $1.62M. The average tenure of the management team and the board of directors is 9.9 years and 9 years respectively.

Key information

Scott Harvard

Chief executive officer

US$593.5k

Total compensation

CEO salary percentage	73.4%
CEO tenure	13.5yrs
CEO ownership	1.1%
Management average tenure	9.9yrs
Board average tenure	9yrs

Recent management updates

Here's Why It's Unlikely That First National Corporation's (NASDAQ:FXNC) CEO Will See A Pay Rise This Year

May 02

Recent updates

First National (NASDAQ:FXNC) Will Pay A Larger Dividend Than Last Year At $0.155

Nov 19

First National's (NASDAQ:FXNC) Dividend Will Be $0.15

Aug 20

First National (NASDAQ:FXNC) Is Due To Pay A Dividend Of $0.15

May 14

Here's Why It's Unlikely That First National Corporation's (NASDAQ:FXNC) CEO Will See A Pay Rise This Year

May 02

First National (NASDAQ:FXNC) Has Announced That It Will Be Increasing Its Dividend To US$0.14

May 17

First National's (NASDAQ:FXNC) Dividend Will Be Increased To US$0.14

Feb 15

First National goes ex-dividend tomorrow

May 26

Here's Why I Think First National (NASDAQ:FXNC) Is An Interesting Stock

May 04

First National reports Q1 results

Apr 30

Gerald Smith Is The Independent Vice Chairman & Secretary of the Board of First National Corporation (NASDAQ:FXNC) And They Just Picked Up 3.3% More Shares

Mar 21

How Does First National Corporation (NASDAQ:FXNC) Stand Up To These Simple Dividend Safety Checks?

Mar 12

Is First National's (NASDAQ:FXNC) Share Price Gain Of 100% Well Earned?

Feb 04

First National reports Q4 results

Jan 29

CEO Compensation Analysis

How has Scott Harvard's remuneration changed compared to First National's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$7m
Jun 30 2024	n/a	n/a	US$8m
Mar 31 2024	n/a	n/a	US$9m
Dec 31 2023	US$593k	US$436k	US$10m
Sep 30 2023	n/a	n/a	US$15m
Jun 30 2023	n/a	n/a	US$17m
Mar 31 2023	n/a	n/a	US$17m
Dec 31 2022	US$774k	US$406k	US$17m
Sep 30 2022	n/a	n/a	US$14m
Jun 30 2022	n/a	n/a	US$12m
Mar 31 2022	n/a	n/a	US$12m
Dec 31 2021	US$601k	US$363k	US$10m
Sep 30 2021	n/a	n/a	US$11m
Jun 30 2021	n/a	n/a	US$11m
Mar 31 2021	n/a	n/a	US$10m
Dec 31 2020	US$582k	US$348k	US$9m
Sep 30 2020	n/a	n/a	US$8m
Jun 30 2020	n/a	n/a	US$9m
Mar 31 2020	n/a	n/a	US$9m
Dec 31 2019	US$462k	US$328k	US$10m
Sep 30 2019	n/a	n/a	US$9m
Jun 30 2019	n/a	n/a	US$9m
Mar 31 2019	n/a	n/a	US$10m
Dec 31 2018	US$505k	US$319k	US$10m
Sep 30 2018	n/a	n/a	US$9m
Jun 30 2018	n/a	n/a	US$8m
Mar 31 2018	n/a	n/a	US$8m
Dec 31 2017	US$504k	US$314k	US$6m

Compensation vs Market: Scott's total compensation ($USD593.47K) is about average for companies of similar size in the US market ($USD652.28K).

Compensation vs Earnings: Scott's compensation has been consistent with company performance over the past year.

CEO

Scott Harvard (69 yo)

13.5yrs

Tenure

US$593,468

Compensation

Mr. Scott C. Harvard has been the President and Chief Executive Officer of First National Corporation since May 09, 2011 and has been its Director since August 3, 2011. He has been Chief Executive Officer...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Scott Harvard	President	13.5yrs	US$593.47k	1.12% $ 1.6m
Gerald Smith	Independent Vice Chair of the Board & Secretary	17.1yrs	US$51.10k	7.36% $ 10.7m
M. Bell	Executive VP & CFO	21yrs	US$406.52k	0.46% $ 665.9k
Dennis Dysart	Senior EVP & COO	10.3yrs	US$392.53k	0.59% $ 855.3k
W. Ross	Market President	1.6yrs	no data	no data
Paul Martin	Senior VP and Market President of Staunton	9.5yrs	no data	no data
Matt Paciocco	Senior VP & Regional Executive for Richmond	2.5yrs	no data	no data

9.9yrs

Average Tenure

57yo

Average Age

Experienced Management: FXNC's management team is seasoned and experienced (9.9 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Scott Harvard	President	13.3yrs	US$593.47k	1.12% $ 1.6m
Gerald Smith	Independent Vice Chair of the Board & Secretary	17.1yrs	US$51.10k	7.36% $ 10.7m
Elizabeth Cottrell	Independent Chair of the Board	32.8yrs	US$60.04k	0.27% $ 398.3k
James Wilkins	Independent Director	23.8yrs	US$49.88k	5.42% $ 7.9m
W. Funk	Independent Director	10.3yrs	US$49.88k	0.27% $ 396.6k
Norman Wagstaff	Director	less than a year	no data	1.55% $ 2.3m
Emily Beck	Independent Director	10.3yrs	US$49.88k	0.45% $ 660.3k
George Holt	Independent Director	3.3yrs	US$49.88k	0.73% $ 1.1m
Boyce Brannock	Independent Director	7.8yrs	US$49.88k	0.11% $ 164.0k
Jason Aikens	Independent Director	6.3yrs	US$49.88k	0.38% $ 549.2k
Kirtesh Patel	Independent Director	3.8yrs	US$49.88k	0.49% $ 718.7k
Toni Lee-Andrews	Director	less than a year	no data	0.059% $ 86.1k

9.0yrs

Average Tenure

62yo

Average Age

Experienced Board: FXNC's board of directors are considered experienced (9 years average tenure).

First National Management

Management criteria checks 4/4

Key information

Recent management updates

Independent Director recently bought US$117k worth of stock

Independent Director recently bought US$54k worth of stock

Independent Director recently bought US$64k worth of stock

Here's Why It's Unlikely That First National Corporation's (NASDAQ:FXNC) CEO Will See A Pay Rise This Year

First National Corporation, Annual General Meeting, May 08, 2024

Insufficient new directors

Recent updates

Price target increased by 7.3% to US$25.75

First National (NASDAQ:FXNC) Will Pay A Larger Dividend Than Last Year At $0.155

Third quarter dividend increased to US$0.15

First National Corporation Announces Increase in Quarterly Cash Dividend, Payable on December 13, 2024

Third quarter 2024 earnings released: EPS: US$0.36 (vs US$0.50 in 3Q 2023)

First National's (NASDAQ:FXNC) Dividend Will Be $0.15

Second quarter dividend of US$0.15 announced

Price target increased by 14% to US$21.00

First National Corporation Reports Net Charge-Offs for the Second Quarter Ended June 30, 2024

Independent Director recently bought US$117k worth of stock

Independent Director recently bought US$54k worth of stock

First National (NASDAQ:FXNC) Is Due To Pay A Dividend Of $0.15

First quarter dividend of US$0.15 announced

Independent Director recently bought US$64k worth of stock

First National Corporation Reports Net Charge-Offs for the First Quarter Ended March 31, 2024

Here's Why It's Unlikely That First National Corporation's (NASDAQ:FXNC) CEO Will See A Pay Rise This Year

First quarter 2024 earnings released: EPS: US$0.51 (vs US$0.61 in 1Q 2023)

New minor risk - Market cap size

First National Corporation, Annual General Meeting, May 08, 2024

Price target decreased by 12% to US$18.50

First National Corporation (NasdaqCM:FXNC) entered into a definitive merger agreement to acquire Touchstone Bankshares, Inc. (OTCPK:TSBA) for $46.9 million.

First National Corporation (NasdaqCM:FXNC) entered into a definitive merger agreement to acquire Touchstone Bankshares, Inc. (OTCPK:TSBA) for $46.9 million.

First National Corporation (NasdaqCM:FXNC) entered into a definitive merger agreement to acquire Touchstone Bankshares, Inc. (OTCPK:TSBA) for $47.3 million.

First National (NASDAQ:FXNC) Will Pay A Dividend Of $0.15

Fourth quarter dividend of US$0.15 announced

Full year 2023 earnings released: EPS: US$1.54 (vs US$2.69 in FY 2022)

Price target increased by 17% to US$21.00

First National Corporation Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2023

Insufficient new directors

Upcoming dividend of US$0.15 per share at 3.2% yield

First National Corporation Declares Quarterly Cash Dividend, Payable on December 8, 2023

New major risk - Revenue and earnings growth

Third quarter 2023 earnings released: EPS: US$0.50 (vs US$0.71 in 3Q 2022)

First National Corporation Reports Net Charge-Offs for the Third Quarter Ended September 30, 2023

Investor sentiment deteriorates as stock falls 15%

Upcoming dividend of US$0.15 per share at 3.5% yield

First National (NASDAQ:FXNC) Is Due To Pay A Dividend Of $0.15

First National Corporation Announces Quarterly Cash Dividend, Payable on September 8, 2023

Second quarter 2023 earnings released: EPS: US$0.56 (vs US$0.61 in 2Q 2022)

Upcoming dividend of US$0.15 per share at 4.0% yield

First National (NASDAQ:FXNC) Is Due To Pay A Dividend Of $0.15

Full year 2022 earnings released: EPS: US$2.69 (vs US$1.87 in FY 2021)

First National's (NASDAQ:FXNC) Dividend Will Be Increased To $0.15

First National Corporation Announces Quarterly Cash Dividend, Payable on March 10, 2023

First National Corporation Announces Quarterly Cash Dividend, Payable on December 16, 2022

First National Corporation Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2022

Full year 2022 earnings released: EPS: US$2.68 (vs US$1.87 in FY 2021)

First National Corporation Declares Quarterly Cash Dividend, Payable on December 16, 2022

Investor sentiment improved over the past week

First National Corporation Announces Unaudited Net Charge Offs for the Quarter Ended September 30, 2022

Third quarter 2022 earnings released: EPS: US$0.71 (vs US$0.39 in 3Q 2021)

First National goes ex-dividend tomorrow

First National Corporation Declares Quarterly Cash Dividend, Payable on September 9, 2022

Second quarter 2022 earnings released: EPS: US$0.61 (vs US$0.69 in 2Q 2021)

First National GAAP EPS of $0.61, revenue of $14.07M

Independent Director recently bought US$94k worth of stock

Upcoming dividend of US$0.14 per share

First National (NASDAQ:FXNC) Has Announced That It Will Be Increasing Its Dividend To US$0.14

First National Corporation Appoints Matt Paciocco as Senior Vice President and Regional Executive for Richmond, Virginia

First quarter 2022 earnings: EPS exceeds analyst expectations

First National Corporation, Annual General Meeting, May 11, 2022

Full year 2021 earnings: EPS misses analyst expectations

Upcoming dividend of US$0.14 per share

First National's (NASDAQ:FXNC) Dividend Will Be Increased To US$0.14

First National Corporation Declares Quarterly Cash Dividend, Payable on March 11, 2022

First National Corporation Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2021

Full year 2021 earnings: EPS misses analyst expectations

Third quarter 2021 earnings released: EPS US$0.39 (vs US$0.36 in 3Q 2020)

Insufficient new directors