First National Management

Management criteria checks 4/4

First National's CEO is Scott Harvard, appointed in May 2011, has a tenure of 12.92 years. total yearly compensation is $593.47K, comprised of 73.4% salary and 26.6% bonuses, including company stock and options. directly owns 1.1% of the company’s shares, worth $1.06M. The average tenure of the management team and the board of directors is 9.3 years and 9.7 years respectively.

Key information

Scott Harvard

Chief executive officer

US$593.5k

Total compensation

CEO salary percentage	73.4%
CEO tenure	12.9yrs
CEO ownership	1.1%
Management average tenure	9.3yrs
Board average tenure	9.7yrs

Recent management updates

Recent updates

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

First National goes ex-dividend tomorrow

Dec 17

First National (NASDAQ:FXNC) Could Be A Buy For Its Upcoming Dividend

Dec 14

How Much Does First National's (NASDAQ:FXNC) CEO Make?

Nov 23

First National reports Q3 results

Oct 29

CEO Compensation Analysis

How has Scott Harvard's remuneration changed compared to First National's earnings?
Date	Total Compensation	Salary	Company Earnings
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 ($USD593.47K) is about average for companies of similar size in the US market ($USD667.11K).

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

CEO

Scott Harvard (68 yo)

12.9yrs

Tenure

US$593,468

Compensation

Mr. Scott C. Harvard has been Chief Executive Officer of First National Corporation since May 09, 2011 and also served as its President since May 9, 2011. He serves as Director at First National Corporatio...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Scott Harvard	CEO & Director	12.9yrs	US$593.47k	1.1% $ 1.1m
Gerald Smith	Independent Vice Chair of the Board & Secretary	16.5yrs	US$51.10k	6.59% $ 6.4m
M. Bell	Executive VP & CFO	20.4yrs	US$406.52k	0.46% $ 444.1k
Dennis Dysart	Senior EVP & COO	9.7yrs	US$392.53k	0.59% $ 570.4k
W. Ross	Market President	less than a year	no data	no data
Paul Martin	Senior VP and Market President of Staunton	8.9yrs	no data	no data
Matt Paciocco	Senior VP & Regional Executive for Richmond	1.9yrs	no data	no data

9.3yrs

Average Tenure

56yo

Average Age

Experienced Management: FXNC's management team is seasoned and experienced (9.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Scott Harvard	CEO & Director	12.7yrs	US$593.47k	1.1% $ 1.1m
Gerald Smith	Independent Vice Chair of the Board & Secretary	16.5yrs	US$51.10k	6.59% $ 6.4m
Elizabeth Cottrell	Independent Chair of the Board	32.3yrs	US$60.04k	0.25% $ 242.5k
James Wilkins	Independent Director	23.3yrs	US$49.88k	4.96% $ 4.8m
W. Funk	Independent Director	9.7yrs	US$49.88k	0.25% $ 241.4k
Emily Beck	Independent Director	9.7yrs	US$49.88k	0.43% $ 416.4k
George Holt	Independent Director	2.8yrs	US$49.88k	no data
Boyce Brannock	Independent Director	7.3yrs	US$49.88k	0.088% $ 85.4k
Jason Aikens	Independent Director	5.7yrs	US$49.88k	0.34% $ 324.9k
Kirtesh Patel	Independent Director	3.3yrs	US$49.88k	0.35% $ 340.6k

9.7yrs

Average Tenure

61.5yo

Average Age

Experienced Board: FXNC's board of directors are considered experienced (9.7 years average tenure).

First National Management

Management criteria checks 4/4

Key information

Recent management updates

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

Insufficient new directors

Independent Director recently bought US$94k worth of stock

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

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

Insufficient new directors

Recent updates

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

Upcoming dividend of US$0.12 per share

Second quarter 2021 earnings released: EPS US$0.69 (vs US$0.46 in 2Q 2020)

First National Corporation (NasdaqCM:FXNC) completed the acquisition of The Bank of Fincastle (OTCPK : BFTL).

First National Corporation(NasdaqCM:FXNC) dropped from Russell Microcap Growth Index

First National goes ex-dividend tomorrow

Upcoming dividend of US$0.12 per share

First National Corporation Declares Quarterly Cash Dividend, Payable on June 11, 2021

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

First quarter 2021 earnings released: EPS US$0.50 (vs US$0.34 in 1Q 2020)

First National reports Q1 results

Key Executive recently bought US$100k worth of stock

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

Key Executive recently bought US$152k worth of stock

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

First National Corporation (NasdaqCM:FXNC) signed a definitive merger agreement to acquire The Bank of Fincastle (OTCPK : BFTL) for $31.5 million.

New 90-day high: US$18.40

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