First National (First National) Credit Losses Provision : $6.15 Mil (As of Dec. 2023)

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What is First National Credit Losses Provision?

First National's credit losses provision for the three months ended in Dec. 2023 was $5.95 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $6.15 Mil.

First National's quarterly credit losses provision stayed the same from Jun. 2023 ($0.10 Mil) to Sep. 2023 ($0.10 Mil) but then increased from Sep. 2023 ($0.10 Mil) to Dec. 2023 ($5.95 Mil).

First National's annual credit losses provision increased from Dec. 2021 ($-0.65 Mil) to Dec. 2022 ($1.85 Mil) and increased from Dec. 2022 ($1.85 Mil) to Dec. 2023 ($6.15 Mil).

First National Credit Losses Provision Historical Data

The historical data trend for First National's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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First National Credit Losses Provision Chart

First National Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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0.45

3.00

-0.65

1.85

6.15

First National Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Credit Losses Provision	Get a 7-Day Free Trial															1.25	-	0.10	0.10	5.95

First National Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $6.15 Mil.

First National (First National) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » First National Corp (NAS:FXNC) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

N/A

Address

112 West King Street, Strasburg, VA, USA, 22657

Website

https://www.fbvirginia.com

First National Corp is a bank holding company of First Bank, which is a commercial bank. Its core offering includes loans, deposits, wealth management, and other products and services. Loan products and services include personal loans, residential mortgages, home equity loans, and commercial loans. Deposit products and services include checking and savings. The Bank's wealth management division offers estate planning, investment management of assets, and retirement accounts.

Executives

Smith Gerald F Jr	director	112 W KING ST, STRASBURG VA 22657
Holt George Edwin Iii	director	112 WEST KING STREET, STRASBURG VA 22657
Wilkins Iii James R	director	112 W KING ST, STRASBURG VA 22657
Kirtesh Patel	director	112 WEST KING STREET, STRASBURG VA 22657
Scott C Harvard	director, officer: President/CEO	112 W KING ST, STRASBURG VA 22657
Boyce E Brannock	director	112 WEST KING STREET, STRASBURG VA 22657
C Ray Sprinkle	director	112 WEST KING STREET, STRASBURG VA 22657
Jason C Aikens	director	112 WEST KING STREET, STRASBURG VA 22657
William Michael Funk	director	443 SHENWOOD AVE, WOODSTOCK VA 22664-1956
Dennis A Dysart	officer: Senior EVP/CCO	112 WEST KING STREET, STRASBURG VA 22657
Beverley Jr Marshall J	officer: EVP-Senior Trust Officer	112 W KING STREET, STRASBURG VA 22657
James C Youngblood	officer: EVP/SENIOR LENDING OFFICER	112 WEST KING STREET, STRASBURG VA 22657-2220
Emily Marlow Beck	director	311 S STEWART ST, WINCHESTER VA 22601-4016
Crow Samuel J Jr.	officer: EVP / CCO	112 W KING ST, STRASBURG VA 22657
Davis Dr James A	director	112 WEST KING STREET, STRASBURG VA 22657