Company Overview

First National Corporation is a U.S.-based financial holding company headquartered in Strasburg, Virginia, operating primarily through its wholly owned banking subsidiary, First Bank. The company operates in the regional banking industry and provides a range of commercial and retail banking services, including deposit accounts, commercial and consumer lending, residential mortgage lending, treasury management, and wealth management services. Its primary revenue drivers are net interest income from lending activities and fee-based income generated through mortgage banking, service charges, and wealth advisory operations.

The company serves individuals, small and medium-sized businesses, commercial real estate operators, municipalities, and nonprofit organizations, primarily across Virginia and portions of neighboring states. First National Corporation traces its origins to the establishment of First Bank in 1907. Over time, the company expanded through branch growth and acquisitions, evolving from a community bank into a multi-market regional banking organization with a broader commercial banking focus. Its competitive positioning is centered on community banking relationships, local market knowledge, and a decentralized approach to customer service in mid-sized and rural markets.

Business Operations

First National Corporation conducts substantially all operations through First Bank, which represents the company’s core operating subsidiary. The bank generates revenue primarily through interest earned on commercial real estate loans, commercial and industrial loans, residential mortgages, agricultural loans, and consumer lending products. Non-interest income is generated through mortgage banking activities, deposit account fees, interchange fees, wealth management services, and other banking-related activities. The company’s operations are concentrated in traditional banking activities rather than investment banking or large-scale capital markets operations.

The company maintains a branch network across multiple Virginia markets and has expanded selectively into adjacent regions through acquisitions and de novo branch openings. Operational capabilities include digital banking platforms, treasury management systems, online and mobile banking technologies, and mortgage origination infrastructure. The company has also operated through specialized business units such as First Bank Wealth Management and mortgage banking divisions. Public filings indicate that First National Corporation has pursued strategic acquisitions of community banking assets and branches to strengthen regional market density and expand lending capacity.

Strategic Position & Investments

First National Corporation’s strategy has focused on disciplined regional expansion, commercial loan growth, and enhancement of fee-generating businesses. Management has emphasized maintaining strong asset quality, diversified lending exposure, and conservative capital management while increasing scale in attractive banking markets throughout Virginia. Growth initiatives have included expansion into higher-growth metropolitan corridors, investment in digital banking capabilities, and strengthening treasury and wealth management offerings to deepen commercial customer relationships.

The company has also pursued acquisition-led growth. Notable transactions in recent years have included the acquisition of Touchstone Bankshares, Inc., which expanded the company’s footprint in southern and central Virginia markets. Management has publicly identified technology modernization, operational efficiency, and relationship-driven commercial banking as strategic priorities. While the company invests in financial technology enhancements and digital service capabilities, available public information does not indicate major involvement in speculative emerging technology sectors outside traditional banking innovation initiatives.

Geographic Footprint

First National Corporation operates primarily within the United States, with its core market presence concentrated in Virginia. Through First Bank, the company serves customers across the Shenandoah Valley, central Virginia, northern Virginia, and portions of eastern and southern Virginia. The company’s headquarters remain in Strasburg, Virginia, reflecting its longstanding community banking roots.

The bank’s branch and lending network provides exposure to both rural and metropolitan economic regions, including markets near Washington, D.C., and Richmond. Although the company does not maintain a significant international operating presence, its commercial banking activities may support customers engaged in interstate or limited international business operations. Public disclosures indicate that the company’s operational influence remains overwhelmingly domestic and regionally focused within the Mid-Atlantic banking market.

Leadership & Governance

First National Corporation is led by an executive management team with backgrounds in community banking, commercial lending, finance, and regional banking operations. Leadership has consistently emphasized relationship banking, prudent credit standards, long-term shareholder value, and measured expansion through organic growth and acquisitions. Governance oversight is conducted through the corporation’s board of directors and banking leadership structure in accordance with regulatory standards applicable to publicly traded banking institutions.

Key executives identified in recent public filings include:

• Scott C. Harvard – President and Chief Executive Officer
• William B. Hayth, III – Executive Chairman
• Sharon H. McCullough – Executive Vice President and Chief Financial Officer
• J. Todd Hall – Executive Vice President and Chief Banking Officer
• Bryan B. McCarty – Executive Vice President and Chief Credit Officer
• Patrick L. Hill – Executive Vice President and Director of Wealth Management

Information regarding executive roles and corporate governance has been consistently disclosed through SEC filings, annual reports, and investor communications. Publicly available records indicate that management’s strategic vision remains centered on disciplined community banking expansion, customer relationship development, and maintaining strong regulatory and credit risk oversight.