Virginia National Bankshares Corporation (VABK)

VABK Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	63.93	56.05	44.23	43.9	24.95	24.18
Interest Income on Investments	10.78	13.94	12.5	4.37	2.29	2.02
Total Interest Income	74.7	69.99	56.73	48.27	27.23	26.2
Interest Paid on Deposits	27.56	18.64	2.98	3.42	3.28	4.18
Interest Paid on Borrowings	2.25	2.39	0.2	-0.13	0.07	0.09
Total Interest Expense	29.81	21.02	3.18	3.28	3.35	4.27
Net Interest Income	44.89	48.97	53.55	44.99	23.88	21.92
Net Interest Income Growth (YoY)	-16.24%	-8.55%	19.03%	88.40%	8.92%	-4.25%
Trust Income	1.66	1.98	2.44	3.51	1.13	1.27
Mortgage Banking Activities	-	-	-	-	-	0.19
Gain (Loss) on Sale of Assets	0.02	0.11	1.21	0.08	-	-
Gain (Loss) on Sale of Investments	-0	-0.21	-	-	0.74	0.07
Other Non-Interest Income	3.89	5.17	5.58	5.42	4.04	3.66
Total Non-Interest Income	7	8.64	11.02	10.47	6.57	5.19
Non-Interest Income Growth (YoY)	-27.50%	-21.58%	5.29%	59.41%	26.49%	-6.15%
Revenues Before Loan Losses	51.89	57.61	64.57	55.45	30.44	27.11
Provision for Loan Losses	0.32	0.73	0.11	1.01	1.62	1.38
Revenue	51.57	56.88	64.46	54.44	28.82	25.74
Revenue Growth (YoY)	-18.37%	-11.77%	18.41%	88.88%	11.98%	-3.07%
Salaries and Employee Benefits	14.76	15.17	16.57	15.61	9.2	8.72
Occupancy Expenses	1.93	1.95	2.17	1.85	0.94	0.87
Federal Deposit Insurance	0.67	0.71	0.51	0.86	0.19	-
Amortization of Goodwill & Intangibles	1.35	1.49	1.68	1.39	-	-
Selling, General & Administrative	8.49	9.09	10.78	10.04	4.7	3.69
Other Non-Interest Expense	5.99	5.66	6.6	5.35	2.77	4.15
Total Non-Interest Expense	33.18	34.06	38.31	35.1	17.79	17.42
EBT Excluding Unusual Items	18.39	22.81	26.15	19.34	11.03	8.32
Legal Settlements	-	-	2.4	-	-	-0.46
Other Unusual Items	0.46	0.46	-	-	-	-
Pretax Income	18.85	23.27	28.55	11.92	10.04	8.22
Income Tax Expense	3.28	4.01	5.11	1.85	2.07	1.53
Net Income	15.57	19.26	23.44	10.07	7.98	6.69
Net Income to Common	15.57	19.26	23.44	10.07	7.98	6.69
Net Income Growth	-32.74%	-17.81%	132.73%	26.23%	19.27%	-21.03%
Basic Shares Outstanding	5	5	5	5	3	3
Diluted Shares Outstanding	5	5	5	5	3	3
Shares Change (YoY)	0.00%	0.41%	13.97%	73.35%	0.69%	0.15%
EPS (Basic)	2.90	3.60	4.40	2.16	2.95	2.49
EPS (Diluted)	2.89	3.58	4.38	2.14	2.95	2.49
EPS Growth	-32.95%	-18.26%	104.67%	-27.36%	18.35%	-20.97%
Dividend Per Share	1.320	1.320	1.200	1.200	1.200	1.171
Dividend Growth	2.33%	10.00%	0%	0%	2.44%	13.89%
Effective Tax Rate	17.38%	17.23%	17.89%	15.49%	20.56%	18.59%

Source: S&P Capital IQ. Banks template. Financial Sources.