# EDGAR Filing Document

**Accession Number:** 0000719402
**File Stem:** 0001437749-23-003127
**Filing Date:** 2023-2
**Character Count:** 7822
**Document Hash:** 5be7e760a9cf12fbe907329295580948
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-23-003127.hdr.sgml**: 20230213

**ACCESSION NUMBER**: 0001437749-23-003127

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230213

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230213

**DATE AS OF CHANGE**: 20230213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST NATIONAL CORP /VA/
- **CENTRAL INDEX KEY:** 0000719402
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **IRS NUMBER:** 541232965
- **STATE OF INCORPORATION:** VA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38874
- **FILM NUMBER:** 23617641

**BUSINESS ADDRESS:**
- **STREET 1:** 112 WEST KING STREET
- **CITY:** STRASBURG
- **STATE:** VA
- **ZIP:** 22657
- **BUSINESS PHONE:** 5404659121

**MAIL ADDRESS:**
- **STREET 1:** 112 WEST KING STREET
- **CITY:** STRASBURG
- **STATE:** VA
- **ZIP:** 22657

fxnc20230209_8k.htm

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

___________

**FORM**8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **February 13, 2023**

___________

**FIRST NATIONAL CORPORATION**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Virginia**<br> (State or other jurisdiction of incorporation) | **1-38874**<br> (Commission File Number) | **54-1232965**<br> (IRS Employer Identification No.) |

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| | |
|:---|:---|
| **112 West King Street**<br> **Strasburg**, **Virginia**<br> (Address of principal executive offices) | <br> **22657**<br> (Zip Code) |

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Registrant's telephone number, including area code: **(**540**) **465-9121**

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| <u>Title of each class</u> | <u>Trading Symbol(s)</u> | <u>Name of each exchange on which registered</u> |
| Common Stock, par value $1.25 per share | FXNC | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 8.01** | **Other Events.** |

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On February 13, 2023, First National Corporation issued a press release announcing a quarterly cash dividend of $0.15 per common share, which is payable on March 10, 2023 to shareholders of record as of February 24, 2023.

A copy of the press release is being furnished as Exhibit 99.1 to this report and is incorporated by reference into this Item 8.01.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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(d) Exhibits. The following exhibits are being furnished pursuant to Item 8.01 above.

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| | |
|:---|:---|
| <u>**Exhibit No.**</u> | <u>**Description**</u> |
| 99.1 | [Press Release dated February 13, 2023](ex_474982.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **FIRST NATIONAL CORPORATION** | **FIRST NATIONAL CORPORATION** |
|  | (Registrant) | (Registrant) |
| Date: February 13, 2023 | By: | /s/ M. Shane Bell |
|  |  | M. Shane Bell |
|  |  | Executive Vice President and Chief Financial Officer |

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## Exhibit 99.1

**Exhibit 99.1**

![a01.jpg](a01.jpg)

**First National Corporation Announces 7% Increase in Cash Dividend**

STRASBURG, Va., February 13, 2023 --- The Board of Directors of First National Corporation (Nasdaq: FXNC) declared a quarterly cash dividend of $0.15 per share on February 8, 2023. This was a 7% increase compared to the quarterly dividend paid on December 16, 2022. The dividend is payable on March 10, 2023, to shareholders of record as of February 24, 2023.

**ABOUT FIRST NATIONAL CORPORATION**

First National Corporation (NASDAQ: FXNC) is the parent company and bank holding company of First Bank, a community bank that first opened for business in 1907 in Strasburg, Virginia. The Bank offers loan and deposit products and services through its website, fbvirginia.com, its mobile banking platform, a network of ATMs located throughout its market area, a loan production office, two customer service centers in retirement communities, and 20 bank branch office locations located throughout the Shenandoah Valley, the central regions of Virginia, the Roanoke Valley, and in the city of Richmond. In addition to providing traditional banking services, the Bank operates a wealth management division under the name First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc., which owns an interest in an entity that provides title insurance services.

**FORWARD-LOOKING STATEMENTS**

Certain information contained in this discussion may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to the Company's future operations and are generally identified by phrases such as "the Company expects," "the Company believes" or words of similar import. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reliable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results, performance, or achievements of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including the rapidly changing uncertainties related to the COVID-19 pandemic and its potential adverse effect on the economy, our employees and customers, and our financial performance. For details on other factors that could affect expectations, see the risk factors and other cautionary language included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and other filings with the Securities and Exchange Commission.

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| | |
|:---|:---|
| **CONTACTS** |  |
| Scott C. Harvard | M. Shane Bell |
| President and CEO | Executive Vice President and CFO |
| (540) 465-9121 | (540) 465-9121 |
| <u>sharvard@fbvirginia.com</u> | <u>sbell@fbvirginia.com</u> |

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