Author: Ravi Shankar

KINGSTON, N.Y., Oct. 23, 2026 (GLOBE NEWSWIRE) — Kingstone Companies, Inc. (Nasdaq: KINS) (“Kingstone” or the “Company”), a regional property and casualty insurance holding company, today announced that its Board of Directors has declared a quarterly cash dividend of $0.06 per share of common stock. The dividend is payable on November 25, 2026, to stockholders of record at the close of business on November 11, 2026.

This is the Company’s sixth consecutive quarterly dividend since the dividend was reinstated in July 2025, and the second at the $0.06 per share rate following the 20% increase approved by the Board in July 2026.

About Kingstone Companies, Inc.
Kingstone is a regional property and casualty insurance holding company whose principal operating subsidiaries write business through retail and wholesale agents and brokers. Kingstone delivers tailored homeowners insurance solutions through its sophisticated product suite, Select, supported by a scalable and efficient operating platform that enables the Company to pursue significant market opportunities and strategic expansion. Kingstone was the 11th largest writer of homeowners insurance in New York in 2025 and is diversifying its geographic footprint by writing in Connecticut on an admitted basis and California on a non-admitted basis.

Investor Relations Contact
Elevate IR
KINS@elevate-ir.com
720-330-2829

Expands total line solutions capabilities in poultry, a strategic priority with sustained growth momentum

Represents Midera’s first acquisition as an independent public company

ROSEMONT, Ill., Oct. 23, 2026 (GLOBE NEWSWIRE) — Midera Food Processing, Inc. (Nasdaq: MFP) (“Midera” or the “Company”), a leading global pure-play food processing automation company, today announced the acquisition of Phoenix Innovations Inc. (“Phoenix Innovations” or “Phoenix”), a high-quality designer and builder of poultry processing equipment with extensive experience in the protein industry. Based in Russellville, Arkansas, the company is currently operating at an annual revenue run rate of approximately $25 million.

The acquisition strengthens Midera’s ability to deliver complete processing lines for poultry clients and advances its total line solutions strategy. Poultry represents one of Midera’s fastest-growing categories, supported by steady, value-driven customer demand and a consumer shift toward higher-protein diets.

“This acquisition aligns with our vision to continue to lead the future of food production automation around the globe,” said Mark Salman, Chief Executive Officer of Midera. “The leadership team at Phoenix Innovations has earned trusted relationships throughout the poultry industry by consistently solving complex processing challenges. That reputation, combined with their product capabilities, makes them a compelling addition to our platform. We see a clear path to accelerate value creation through our total line solutions approach, leveraging the expertise and capabilities across our 30-plus brands and global service network.”

This is Midera’s first acquisition as a standalone company. Phoenix is aligned with the M&A framework Midera has leveraged since 2005, a proven, repeatable engine built on a disciplined approach across 30-plus acquisitions. With a deep pipeline of strategically aligned targets and a strong standalone balance sheet, Midera is positioned to be an active acquirer in the highly fragmented food processing equipment market. This transaction advances multiple strategic priorities: expanding total line solutions for a high-growth market segment, strengthening market penetration in poultry, and deepening aftermarket service capabilities for an expanding customer base.

About Midera Food Processing
Midera Food Processing provides food processing equipment and automation solutions for industrial protein, bakery, and snack producers, delivering total line solutions from preparation and thermal processing through packaging. With a portfolio of 30+ industry-leading brands reaching customers across six continents, Midera helps food processors produce safer, more consistent products while improving efficiency and reducing waste at scale. Headquartered in Rosemont, Illinois, Midera employs approximately 2,800 people worldwide. For more information about Midera, please visit www.midera.com.

About Phoenix Innovations
Phoenix Innovations Inc. is a specialized designer and manufacturer of protein processing equipment serving customers globally. The company specializes in needle injection, marination, tumbling, and thermal processing solutions, and is recognized for engineering excellence, reliable equipment performance, and deep customer partnerships focused on improving yield and production efficiency. Headquartered in Russellville, Arkansas, Phoenix Innovations serves protein processors with innovative solutions that enhance processing outcomes and operational efficiency.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” subject to the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s expectations with respect to the acquisition of Phoenix Innovations and the anticipated benefits thereof, and the Company’s future performance, strategy, growth opportunities and value creation. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan,” “see” or words or phrases of similar meaning. The Company cautions investors that such statements are estimates and are highly dependent upon a variety of factors. These forward-looking statements involve known and unknown risks, uncertainties and other factors, which could cause the Company’s actual results, performance or outcomes to differ materially from those expressed or implied in the forward-looking statements. The following are some of the important factors that could cause the Company’s actual results, performance or outcomes to differ materially from those discussed in the forward-looking statements: the Company’s ability to successfully integrate Phoenix Innovations and realize the anticipated benefits of the transaction when expected or at all; changes in demand in the poultry and broader protein industry, including as a result of changes in customer preferences; changing market conditions, including inflation; volatility in earnings resulting from goodwill impairment losses, which may occur irregularly and in varying amounts; variability in financing costs and interest rates; quarterly variations in operating results; dependence on key customers; risks associated with the Company’s foreign operations, including international exposure, political risks affecting international sales, market acceptance and demand for the Company’s products and the Company’s ability to manage the risk associated with the exposure to foreign currency exchange rate fluctuations; the Company’s ability to protect its trademarks, copyrights and other intellectual property; the impact of competitive products and pricing; the impact of announced management and organizational changes; intense competition in the Company’s business including the impact of both new and established global competitors; unfavorable tax law changes and tax authority rulings; cybersecurity attacks and other breaches in security; the continued ability to realize profitable growth through the sourcing and completion of strategic acquisitions; the timely development and market acceptance of the Company’s products; the availability and cost of raw materials; the potential that the Company does not realize all of the expected benefits of its spin-off from The Middleby Corporation (“the Spin-off”); the failure of the Spin-off to qualify for the expected tax treatment; potential adverse effects of the Spin-off, including on the ability of the Company to develop and maintain relationships with personnel, customers, suppliers and others with whom it does business or on the Company’s business, financial condition, results of operations and financial performance; and other risks disclosed under the heading “Risk Factors” in the Company’s Information Statement, attached as Exhibit 99.1 to the Company’s Current Report on Form 8-K, furnished to the U.S. Securities and Exchange Commission (“SEC”) on June 22, 2026, and in the Company’s other filings with the SEC. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date hereof and, except as required by federal securities laws and rules and regulations of the SEC, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investors

Rob Fagan
VP, FP&A and Investor Relations
investors@midera.com

Media

ICR
midera@icrinc.com

Opportunity to Connect with Hospital Administrators and Physicians to Foster Expanded Adoption of the LIBERTY System

HINGHAM, Mass., Oct. 23, 2026 (GLOBE NEWSWIRE) — Microbot Medical Inc. (Nasdaq: MBOT), developer and distributor of the innovative LIBERTY® Endovascular Robotic System, today announced that key executives and members of the Company’s commercial team will be attending the SIR EDGE 2026 conference in Louisville, Kentucky, providing an opportunity for the Company to engage with prospective customers.

SIR EDGE 2026 is designed to provide interventional radiologists with practical, case-based education focused on real-world clinical decision-making and patient care.

Concurrent to SIR EDGE 2026, the Association of Chiefs of Interventional Radiology (ACIR) Annual Fall Conference will be taking place, which the Company believes provides it with a valuable opportunity to engage directly with decision-makers at hospitals and health networks from across the U.S. as the Company expands its national sales footprint and continues to engage with Value Analysis Committees (VACs) at hospitals and healthcare networks.

“We believe these opportunities to engage with hundreds of potential users are invaluable, and we have benefited from prior similar events to generate new leads, many of which we continue to manage through the sales funnel, including the VAC process,” commented Harel Gadot, Chairman, CEO and President. “This event allows us to meet jointly with physicians and administrators, share the positive user experience and feedback that we have already received, and take the next step of setting up demonstrations to initiate the sales process.”

LIBERTY is the only FDA-cleared, single-use, remotely operated robotic system for peripheral endovascular procedures, and it is designed for precise vascular navigation while aiming to reduce radiation exposure and physical strain.

About Microbot Medical
Microbot Medical Inc. (NASDAQ: MBOT) is a commercial stage medical device company focused on transforming endovascular procedures through advanced robotic technology. Microbot’s LIBERTY® Endovascular Robotic System is the first single-use, remotely operated robotic solution designed for precision, efficiency and safety. Backed by a strong intellectual property portfolio and a commitment to innovation, Microbot is driving the future of endovascular care.

Learn more at www.microbotmedical.com and connect on LinkedIn and X.

Safe Harbor

Statements relating to future financial and/or operating results, future adoption of products, future growth in research, technology, clinical development, commercialization and potential opportunities for Microbot Medical Inc. and its subsidiaries, including the expected benefits of the Company’s participation in industry conferences and the conversion of sales leads, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Any statements that are not historical fact (including, but not limited to statements that contain words such as “contemplates,” “continues,” “could,” “forecasts,” “intends,” “may,” “might,” “possible,” “potential,” “predicts,” “projects,” “should,” “would,” “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements involve risks and uncertainties, including, without limitation, market conditions, risks inherent in the commercialization of the LIBERTY^® Endovascular Robotic System, and in the development of future versions of or applications for the system, market acceptance of the system, the length and outcome of hospital Value Analysis Committee and purchasing processes, and the Company’s ability to convert sales leads into orders, uncertainty in the results of regulatory pathways and regulatory approvals, uncertainty resulting from political, social and geopolitical conditions, disruptions resulting from new and ongoing hostilities between Israel and the Palestinians, Iran and other neighboring countries, and maintenance of intellectual property rights. Additional information on risks facing Microbot Medical^® can be found under the heading “Risk Factors” in Microbot Medical’s periodic reports filed with the Securities and Exchange Commission (SEC), which are available on the SEC’s web site at www.sec.gov. Microbot Medical^® disclaims any intent or obligation to update these forward-looking statements, except as required by law.

Contacts:
IR@microbotmedical.com
Media@microbotmedical.com

ALEXANDRIA, La., Oct. 23, 2026 (GLOBE NEWSWIRE) — Red River Bank (the “Bank”) recently secured property in Slidell, Louisiana, to further its expansion into the Northshore market.

On October 22, 2026, the Bank purchased a former credit union building located at 2175 Gause Boulevard E. in Slidell. This will be the Bank’s first full-service banking center location in Slidell and its second in the Northshore market. Doug Ferrer is the Northshore region Market President for the Bank.

“We are excited to expand our service to the Northshore by opening Red River Bank’s first banking center in Slidell. Doug Ferrer is leading our Northshore expansion, and we remain committed to providing the personal, customized financial solutions that Red River Bank clients have come to expect,” said Red River Bank President and CEO Blake Chatelain.

The Bank expects to open the full-service banking center at this location in the first quarter of 2027, pending all regulatory approvals. For any questions regarding the expansion, Ferrer can be reached at 985.875.5115 or doug.ferrer@redriverbank.net.

About Red River Bank
Red River Bank is a Louisiana state-chartered bank established in Alexandria, Louisiana, in 1999 that provides a fully integrated suite of banking products and services tailored to the needs of its commercial and retail customers. Red River Bank operates from a network of 28 banking centers throughout Louisiana and two combined loan and deposit production offices, one each in Lafayette, Louisiana, and Shreveport, Louisiana. Banking centers are located in the following Louisiana markets: Central, which includes the Alexandria metropolitan statistical area (“MSA”); Northwest, which includes the Shreveport-Bossier City MSA; Capital, which includes the Baton Rouge MSA; Southwest, which includes the Lake Charles MSA; the Northshore, which includes the Slidell-Mandeville-Covington MSA; Acadiana, which includes the Lafayette MSA; and New Orleans, which includes the New Orleans-Metairie MSA. Red River Bank is a subsidiary of Red River Bancshares, Inc., which trades under the trading symbol RRBI on the Nasdaq Global Select Market. Learn more at www.redriverbank.net.

COSTA MESA, Calif., Oct. 23, 2026 (GLOBE NEWSWIRE) — Gold.com, Inc. (NYSE: GOLD) (“Gold.com” or the “Company”), a fully integrated alternative assets platform that offers an extensive range of precious metals, numismatic coins, and collectibles to consumers, collectors, and institutional clients worldwide, will hold a conference call on Wednesday, November 4, 2026, at 4:30 p.m. Eastern time to discuss results for the fiscal first quarter ended September 30, 2026. Financial results will be issued in a press release prior to the call. Gold.com management will host the presentation, followed by a question-and-answer period.

Gold.com’s conference call can be accessed as follows:

Date: Wednesday, November 4, 2026
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Webcast: https://www.webcaster5.com/Webcast/Page/2867/54619
U.S. dial-in number: 888-506-0062
International number: 973-528-0011
Participant Access Code: 243840

A replay of the call will be available after 7:30 p.m. Eastern time on the same day through November 18, 2026.

Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Participant Access Code: 54619

About Gold.com, Inc.

Gold.com builds on gold’s storied history and heritage to define the future of alternative asset management. Founded in 1965, Gold.com offers comprehensive solutions for all aspects of the precious metals (gold, silver, platinum, and palladium) and collectibles (including rare coins and currency) value chains. Its vertically integrated platform combines market expertise with state-of-the-art logistics, financing, and minting capabilities to serve customers, collectors, and institutional clients globally.

Gold.com’s direct-to-consumer marketplace, anchored by flagship brands JMBullion.com, Stack’s Bowers Galleries, GovMint.com, Monex Precious Metals, and Goldline, has served millions of customers. The Company’s trading and wholesale sales platform, which operates as A-Mark Precious Metals, maintains distribution and finance focused relationships with a network of sovereign and private mints and has been an “authorized purchaser” of the United States Mint since 1986. This platform is supported by the Company’s minting and refining operations which include Sunshine Minting and Silver Towne Mint, whose facilities can collectively produce in excess of three million ounces of finished precious metals products per week. Gold.com’s Collateral Finance Corporation secured lending subsidiary, CFCGoldLoans.com, extends bullion, numismatic, and graded sports card loans, while A-Mark Global Logistics supports the Company’s operations with airport-adjacent distribution centers and IRA-approved storage depositories.

Gold.com is headquartered in Costa Mesa, California, and operates across the United States, Canada, the United Kingdom, Europe, Hong Kong, and Singapore. Learn more at www.gold.com.

Gold.com periodically provides information for investors on its corporate website, www.gold.com and its investor relations website, ir.gold.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and investor presentations.

Important Cautions Regarding Forward-Looking Statements

Statements in this press release that relate to future plans, objectives, expectations, performance, events and the like are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. These include statements regarding expectations with respect to growth, increasing market share and the delivery of long-term value. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results or circumstances to differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ include the following: The failure to execute the Company’s growth strategy, including the inability to identify suitable or available acquisition or investment opportunities; greater than anticipated costs incurred to execute this strategy; our inability to execute on our cost containment and expense reduction programs; government regulations that might impede growth, particularly in Asia, including with respect to tariff policy; the inability to successfully integrate our recently acquired businesses; changes in the current international political climate, which historically has favorably contributed to demand and volatility in the precious metals markets but also has posed certain risks and uncertainties for the Company; increased competition for the Company’s higher margin services, which could depress pricing; the failure of the Company’s business model to respond to changes in the market environment as anticipated; changes in consumer demand and preferences for precious metal products generally; potential negative effects that inflationary pressure may have on our business; the failure of our investee companies to maintain, or address the preferences of, their customer bases; general risks of doing business in the commodity markets; and the strategic, business, economic, financial, political and governmental risks and other Risk Factors described in in the Company’s public filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.

Company Contact:
Steve Reiner, Executive Vice President, Capital Markets & Investor Relations
Gold.com, Inc.
1-310-587-1410
sreiner@gold.com

Investor Relations Contact:
Reed Anderson, ICR
646-277-1260
reed.anderson@icrinc.com
GOLD@icrinc.com

STRASBURG, Va., Oct. 23, 2026 (GLOBE NEWSWIRE) — First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the bank holding company of First Bank (the “Bank”), reported consolidated net income of $6.9 million and basic and diluted earnings per common share of $0.76, for the three months ended September 30, 2026. The Company reported consolidated net income of $17.5 million and basic and diluted earnings per common share of $1.94 and $1.93, respectively, for the nine months ended September 30, 2026. 

“We are extremely pleased with our record financial performance for the quarter and the year. Organic loan growth continued in the third quarter with strong new loan production in all our markets. The improved net interest margin, excellent asset quality, and expense management drove the financial performance in the third quarter. Our branch optimization process was completed as we closed and consolidated three banking offices and closed our off-site ATMs in the third quarter. In early October we completed the sale of our two North Carolina banking offices and will book a gain in the fourth quarter,” said Scott C. Harvard, President and Chief Executive Officer of First National Corporation.

FINANCIAL HIGHLIGHTS FOR THIRD QUARTER OF 2026

• Basic earnings per share of  $0.76 per share, compared to $0.62 one year prior, and $0.64 in the previous quarter
• Return on average assets of  1.32%  compared to 1.09% one year prior, and 1.11% in the previous quarter
• Return on average equity of  14.02% compared to 12.43% one year prior, and 12.03% in the previous quarter
• Tax equivalent net interest margin⁽¹⁾ of  4.38%, up from 3.84% one year prior, and 4.15% in the previous quarter
• Net loan growth of $13.6 million for the quarter, a 3.7% annualized growth rate
• Asset quality remained sound with non-performing assets at 0.26%  of total assets
• Noninterest bearing deposits of $520.1 million, or 28% of deposits, contributed to our low funding cost

FINANCIAL HIGHLIGHTS FOR YEAR TO DATE 2026

• Basic earnings per share of $1.94 per share, compared to $1.36 one year prior
• Adjusted basic earnings per share ⁽¹⁾ of $1.94 per share, compared to $1.51 one year prior
• Return on average assets of 1.15% compared to 0.81% one year prior
• Return on average equity of 12.26% compared to 9.47% one year prior
• Tax equivalent net interest margin⁽¹⁾ of 4.19%, up from 3.85% one year prior
• Net loan growth of $67.3 million for the year, a 4.7% growth rate

NET INTEREST INCOME

For the third quarter of 2026, the Company’s net interest margin fully tax equivalent (“FTE”)⁽¹⁾ was 4.38%, compared to 4.15% for the second quarter of 2026 and 3.84% in the third quarter of 2025. The Company’s net interest margin (FTE)⁽¹⁾ for the third quarter of 2026 includes the impact of acquisition accounting fair value adjustments. Net accretion income related to acquisition accounting was $867 thousand, an 18-basis point incremental increase to the net interest margin for the third quarter ended September 30, 2026. Prior period acquisition accounting resulted in net accretion income of $245 thousand, or a 5-basis point incremental increase to the net interest margin for the quarter ended June 30, 2026, and net accretion income of $43 thousand, with no incremental impact to the net interest margin for the third quarter ended September 30, 2025. The increase in net accretion income as compared to prior quarters was driven by payoffs on purchased loans.

Earning asset yields for the third quarter of 2026 increased 24 basis points to 5.55% compared to the second quarter of 2026. For the third quarter of 2026, net interest income FTE⁽¹⁾ was $21.3 million, an increase of $1.2 million from $20.1 million in the second quarter of 2026 due to improved yields and interest income related to acquisition accounting.

The impact of acquisition accretion and amortization is reflected in the following table (dollars in thousands):

		For the Three Months Ended												For the Nine Months Ended
		Sept 30, 2026				Jun 30, 2026				Sept 30, 2025				Sept 30, 2026				Sept 30, 2025
Loans		$	958			$	334			$	81			$	1,586			$	1,011
Deposits			(14	)			(14	)			55				(38	)			218
Borrowings			(77	)			(75	)			(93	)			(225	)			(279	)
		$	867			$	245			$	43			$	1,323			$	950

ALLOWANCE AND PROVISION FOR CREDIT LOSSES

The Company recorded no net provision for credit losses in the third quarter of 2026, compared to $426 thousand for the second quarter of 2026. The third quarter provision was comprised of a $64 thousand provision for credit losses on loans, a $79 thousand reduction in provision for credit losses on unfunded commitments, and a $15 thousand provision for credit losses on securities.  Net charge-offs totaled $594 thousand in the third quarter of 2026, compared to net charge-offs of $105 thousand in the second quarter of 2026 and net charge-offs of $939 thousand in the third quarter of 2025.

The allowance for credit losses on loans totaled $14.4 million, or 0.96% of total loans on September 30, 2026, compared to $14.9 million, or 1.00% of total loans on June 30, 2026, and $14.4 million, or 1.01% of total loans on September 30, 2025. The allowance for credit losses to total loans decreased from the prior period and prior year due to declines in specific reserves on individually analyzed loans and lower calculated reserves on pooled loans. The allowance for credit losses to non-performing assets coverage was 268% on September 30, 2026, compared to 315% on June 30, 2026, and 253% on September 30, 2025. 

NONINTEREST INCOME AND EXPENSE

Noninterest income increased $66 thousand to $4.1 million for the third quarter of 2026 from $4.0 million in the prior quarter. The increase in noninterest income includes increases in wealth management fees, income from bank owned life insurance, and gains on sale of loans held for sale, offset by decreases in brokered mortgage fees, loss on disposals, and other operating income compared to the prior quarter.

Noninterest expense increased $259 thousand to $16.7 million for the third quarter of 2026 from $16.4 million in the prior quarter. The increase in noninterest expense includes increases in employee benefit expense related to our above target net income as well as other real estate owned expense, offset by decreases in marketing expense, legal and professional fees, and other operating expense.

Two banking offices in Roanoke Rapids and Louisburg, North Carolina, including most of the deposit and loan accounts associated with those offices were sold in early October. The company anticipates a one-time gain on the sale of the offices in the fourth quarter of 2026.  The Bank consolidated three additional banking offices and discontinued low-volume ATMs at non-branch locations during the third quarter of 2026. The consolidation resulted in other real estate owned expense of $212 thousand in the third quarter. These two closed banking offices are carried as our only other real estate owned and as non-performing assets. The sale and consolidation combined will reduce the number of banking offices from 33 to 28 by year end. The goals of these branch optimization actions are to streamline operations, improve future profitability and allocate resources to faster growing markets. 

INCOME TAXES

Income tax expense was $1.7 million for the third quarter of 2026, compared to $1.4 million for the second quarter of 2026. The effective tax rate of 19.7% for the third quarter of 2026 increased slightly from 19.5% in the second quarter of 2026 due to changes in permanent tax differences.

BALANCE SHEET

On September 30, 2026, total assets were $2.075 billion, an increase of $44.1 million or 2.2% from September 30, 2025. Total assets were consistent with the prior quarter with the increase in loan growth offset by decreases in cash and cash equivalents and investment securities, and the increase from the prior year was driven by loan growth funded by decreases in cash and cash equivalents and securities held to maturity.

On September 30, 2026, loans held for investment (“LHFI”) net of allowance totaled $1.486 billion, an increase of $13.4 million or 3.6% annualized from $1.472 billion on June 30, 2026, and an increase of $67.3 million or 4.7% from $1.419 billion on September 30, 2025. Net loan growth in the third quarter and for the year has been driven by increased production from newly hired bankers along with our continued focus on relationship banking. 

On September 30, 2026, total investments were $306.8 million, a decrease of $16.0 million or 5.0% from June 30, 2026, and an increase of $1.3 million or 0.4% from September 30, 2025. Available for sale (“AFS”) securities totaled $218.7 million on September 30, 2026, and $227.8 million on June 30, 2026, and $196.5 million on September 30, 2025. The increase compared to the prior year was driven by security purchases exceeding portfolio cashflows and utilization of excess cash. Total net unrealized losses on the AFS securities portfolio were $21.4 million on September 30, 2026, compared to $15.8 million on June 30, 2026, and $15.4 million on September 30, 2025. Held to maturity securities are carried at amortized cost and totaled $82.6 million on September 30, 2026, $89.4 million on June 30, 2026, and $104.6 million on September 30, 2025.

On September 30, 2026, total deposits were $1.829 billion, a decrease of $2.4 million or 0.5% annualized from the prior quarter, and an increase of $19.2 million or 1.1% from September 30, 2025. Average deposit balances for the third quarter declined $17.6 million or 3.8% annualized. Overall, deposit balances were relatively stable in comparison with the prior quarter and the prior year with decreases primarily in interest-bearing demand deposits. There were $25.0 million in other borrowings with the Federal Home Loan Bank on September 30, 2026 and June 30, 2026 and no borrowings on September 30, 2025.

LIQUIDITY

Liquidity sources available to the Bank, including interest-bearing deposits in banks, unpledged securities available for sale, at fair value, and available lines of credit totaled $721.6 million on September 30, 2026, $747.8 million on June 30, 2026, and $676.1 million on September 30, 2025.

The Bank maintains liquidity to fund loan growth and to meet potential demand from deposit customers, including potential volatile deposits. The estimated amount of uninsured customer deposits totaled $575.8 million on September 30, 2026, $573.8 million on June 30, 2026, and $555.0 million on September 30, 2025. Excluding municipal deposits that have collateral pledged, the estimated amount of uninsured customer deposits totaled $483.3 million on September 30, 2026, $466.9 million on June 30, 2026, and $473.4 million on September 30, 2025.

ASSET QUALITY

Non-performing assets (“NPAs”) increased slightly from the prior period and improved from the prior year as previously reserved loans were charged off since the third quarter of 2025. Management classifies NPAs as non-accrual loans and other real estate owned (“OREO”). The Bank had $747 thousand in OREO on September 30, 2026, and no OREO on June 30, 2026 or September 30, 2025. The OREO increase is from the carrying values of two closed banking offices driven by the one-time event of the branch consolidation. Non-accrual loans as a percentage of total loans decreased from prior period and prior year to 0.31% on September 30, 2026. NPAs increased by $647 thousand to $5.4 million on September 30, 2026, compared to $4.7 million on June 30, 2026, but decreased by $318 thousand from $5.7 million on September 30, 2025. 

Loans past due over 90 days or more and still accruing interest were $0 on September 30, 2026 and on June 30, 2026, and $388 thousand on September 30, 2025. Loans past-due 30-89 days and still accruing interest increased to $3.4 million, or 0.23% of total loans on September 30, 2026, $2.5 million, or 0.17% of total loans on June 30, 2026, and $3.6 million, or 0.25%, of total loans on September 30, 2025.  The health care provider portfolio balance continues to decline with $7.9 million in loan balances and $3.0 million in remaining unamortized premiums. The portfolio has loans totaling $1.4 million currently on non-accrual that are specifically reserved at $1.0 million. 

CAPITAL

During the third quarter of 2026, the Company declared and paid cash dividends of $0.17 per common share, compared to $0.17 in the second quarter of 2026 and $0.155 in the third quarter of 2025. Tangible book value per share⁽¹⁾ grew to $19.94 on September 30, 2026, from $19.71 per share on June 30, 2026, and $18.26 on September 30, 2025.

The following table provides capital ratios and values for the periods ended:

First National Corporation (2)

​

Sept 30, 2026

​

​

Jun 30, 2026

​

​

Sept 30, 2025

​

Total risk-based capital ratio

​

​

15.14

%

​

​

14.81

%

​

​

15.15

%

Tier 1 risk-based capital ratio

​

​

13.59

%

​

​

13.22

%

​

​

12.83

%

Common equity Tier 1 capital ratio

​

​

12.98

%

​

​

12.60

%

​

​

12.20

%

Leverage ratio

​

​

10.00

%

​

​

9.62

%

​

​

9.24

%

Tangible common equity to tangible assets (1)

​

​

8.77

%

​

​

8.65

%

​

​

8.17

%

Tangible book value per share (1)

​

$

19.94

​

​

$

19.71

​

​

$

18.26

​

​

​

​

​

​

​

​

​

​

​

​

​

​

First Bank

​

Sept 30, 2026

​

​

Jun 30, 2026

​

​

Sept 30, 2025

​

Total risk-based capital ratio (3)

​

​

14.19

%

​

​

13.91

%

​

​

13.40

%

Tier 1 risk-based capital ratio (3)

​

​

13.20

%

​

​

12.87

%

​

​

12.36

%

Common equity Tier 1 capital ratio (3)

​

​

13.20

%

​

​

12.87

%

​

​

12.36

%

Leverage ratio (3)

​

​

9.77

%

​

​

9.44

%

​

​

8.88

%

Tangible common equity to tangible assets (1)

​

​

8.82

%

​

​

8.75

%

​

​

8.18

%

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 bankers, consumer and business mobile banking platforms, a network of ATMs located throughout its market area, a loan production office, a customer service center in a retirement community, and twenty-eight banking office locations located throughout the Shenandoah Valley, the Roanoke Valley, the Richmond MSA, and the south-central regions of Virginia. 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 a title insurance company.

NON-GAAP FINANCIAL MEASURES

In addition to financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), the Company uses certain non-GAAP financial measures that provide useful information for financial and operational decision making, evaluating trends, and comparing financial results to other financial institutions. The non-GAAP financial measures presented in this document include adjusted operating net income, adjusted operating non-interest expense, adjusted basic and diluted earnings per share, adjusted return on average assets, adjusted return on average equity, pre-provision pre-tax earnings, adjusted pre-provision pre-tax earnings, fully taxable equivalent interest income, the fully tax-equivalent net interest margin, the efficiency ratio, tangible book value per share, and tangible common equity to tangible assets.

The Company believes certain non-GAAP financial measures enhance the understanding of its business and performance. Non-GAAP financial measures are supplemental and not a substitute for, or more important than, financial measures prepared in accordance with GAAP and may not be comparable to those reported by other financial institutions. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measure is included at the end of this release.

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 plans, objectives, strategies, expectations and intentions, including with respect to the Company’s branch sales and other branch optimization initiatives, and other statements that are not historical facts, and other statements identified by words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” “will,” “continue,” and “projects,” as well as similar expressions. 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 the Company will achieve the anticipated benefits of its plans and strategies or that its actual results, performance, or achievements will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties and speak only as of the date of this release. The Company undertakes no obligations to update or revise any forward-looking statement, except as required by law. For details on factors that could affect expectations, future events, or results, see the risk factors and other cautionary language included in First National Corporation’s Annual Report on Form 10-K for the year ended December 31, 2025 and other filings with the Securities and Exchange Commission (the “SEC”).

CONTACTS

Scott C. Harvard		Brad E. Schwartz
President and CEO		Executive Vice President and CFO
(540) 545-7695		(540) 465-6130
sharvard@fbvirginia.com		bschwartz@fbvirginia.com

FIRST NATIONAL CORPORATION Performance Summary (in thousands)
(unaudited)				​				​				​				​				​
		For the Three Months Ended												For the Nine Months Ended
		Sept 30, 2026				Jun 30, 2026				Sept 30, 2025				Sept 30, 2026				Sept 30, 2025
Income Statement				​				​				​				​				​
Interest and dividend income				​				​				​				​				​
Interest and fees on loans		$	23,496			$	22,145			$	21,430			$	66,658			$	63,661
Interest on deposits in banks			1,169			$	1,288				1,733				3,627				5,295
Interest on federal funds sold			—				—				1				—				40
Taxable interest on securities			1,899				1,843				1,562				5,528				4,189
Tax-exempt interest on securities			292				293				296				877				894
Dividends			64				64				65				192				194
Total interest and dividend income		$	26,920			$	25,633			$	25,087			$	76,882			$	74,273
Interest expense				​				​				​				​				​
Interest on deposits		$	5,471			$	5,410			$	6,246			$	16,295			$	18,363
Interest on subordinated debt			171				170				479				509				1,414
Interest on junior subordinated debt			69				69				67				204				199
Interest on other borrowings			3				3				—				11				3
Total interest expense		$	5,714			$	5,652			$	6,792			$	17,019			$	19,979
Net interest income		$	21,206			$	19,981			$	18,295			$	59,863			$	54,294
Provision for credit losses			—				426				193				876				1,936
Net interest income after provision for credit losses		$	21,206			$	19,555			$	18,102			$	58,987			$	52,358
Noninterest income				​				​				​				​				​
Service charges on deposit accounts		$	940			$	913			$	985			$	2,777			$	3,018
ATM and check card fees			1,143				1,155				1,336				3,345				3,460
Wealth management fees			1,009				902				910				2,822				2,675
Fees for other customer services			334				295				407				916				895
Brokered mortgage fees			79				153				166				347				459
Income from bank owned life insurance			289				241				284				789				761
Net (loss) gains on securities available for sale			—				—				—				8				—
Net gains on sale of loans held for sale			46				4				5				51				5
Bargain purchase gain			—				—				304				—				304
Net gain on subordinated debt payoff			—				—				—				—				80
(Loss) gain on disposal of premises and equipment			(12	)			56				—				44				—
Other operating income			256				299				103				827				343
Total noninterest income		$	4,084			$	4,018			$	4,500			$	11,926			$	12,000
Noninterest expense				​				​				​				​				​
Salaries and employee benefits		$	9,341			$	9,006			$	8,487			$	27,329			$	25,209
Occupancy			1,002				974				1,025				2,948				3,038
Equipment			1,067				1,131				1,056				3,291				3,138
Marketing			353				476				324				1,170				830
Supplies			199				192				158				537				573
Legal and professional fees			646				742				660				2,076				1,775
ATM and check card expense			629				608				569				1,808				1,545
FDIC assessment			254				224				305				705				1,034
Bank franchise tax			395				395				350				1,170				1,015
Data processing expense			435				435				495				1,264				1,761
Core deposit intangible amortization expense			434				433				442				1,301				1,325
Other real estate owned expense (income), net			212				—				—				212				(7	)
Net loss on disposal of premises and equipment			—				—				(23	)			—				(16	)
Merger expense			—				—				—				—				2,032
Other operating expense			1,729				1,821				1,934				5,304				6,056
Total noninterest expense		$	16,696			$	16,437			$	15,782			$	49,115			$	49,308
Income before income taxes		$	8,594			$	7,136			$	6,820			$	21,798			$	15,050
Income tax expense			1,694				1,393				1,270				4,268				2,851
Net income		$	6,900			$	5,743			$	5,550			$	17,530			$	12,199

FIRST NATIONAL CORPORATION Performance Summary (in thousands, except share and per share data)

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

At or for the Three Months Ended

​

​

At or for the Nine Months Ended

​

​

​

Sept 30, 2026

​

​

Jun 30, 2026

​

​

Sept 30, 2025

​

​

Sept 30, 2026

​

​

Sept 30, 2025

​

Common Share and Per Common Share Data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Earnings per common share, basic

​

$

0.76

​

​

$

0.64

​

​

$

0.62

​

​

$

1.94

​

​

$

1.36

​

Adjusted earnings per common share, basic (1)

​

$

0.76

​

​

$

0.64

​

​

$

0.58

​

​

$

1.94

​

​

$

1.51

​

Weighted average shares, basic

​

​

9,050,059

​

​

​

9,041,314

​

​

​

8,999,153

​

​

​

9,041,056

​

​

​

8,988,692

​

Earnings per common share, diluted

​

$

0.76

​

​

$

0.63

​

​

$

0.62

​

​

$

1.93

​

​

$

1.35

​

Adjusted earnings per common share, diluted (1)

​

$

0.76

​

​

$

0.63

​

​

$

0.58

​

​

$

1.93

​

​

$

1.50

​

Weighted average shares, diluted

​

​

9,084,052

​

​

​

9,068,347

​

​

​

9,023,185

​

​

​

9,066,673

​

​

​

9,010,432

​

Shares outstanding at period end

​

​

9,057,224

​

​

​

9,042,629

​

​

​

9,009,209

​

​

​

9,057,224

​

​

​

9,009,209

​

Tangible book value per share at period end (1)

​

$

19.94

​

​

$

19.71

​

​

$

18.26

​

​

$

19.94

​

​

$

18.26

​

Market price per share at period end

​

$

29.38

​

​

$

30.02

​

​

$

22.68

​

​

$

29.38

​

​

$

22.68

​

Cash dividends declared

​

$

0.170

​

​

$

0.170

​

​

$

0.155

​

​

$

0.510

​

​

$

0.465

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Key Performance Ratios

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Return on average assets (4)

​

​

1.32

%

​

​

1.11

%

​

​

1.09

%

​

​

1.15

%

​

​

0.81

%

Adjusted return on average assets (1)(4)

​

​

1.32

%

​

​

1.11

%

​

​

1.03

%

​

​

1.15

%

​

​

0.90

%

Return on average equity (4)

​

​

14.02

%

​

​

12.03

%

​

​

12.43

%

​

​

12.26

%

​

​

9.47

%

Adjusted return on average equity (1)(4)

​

​

14.02

%

​

​

12.03

%

​

​

11.75

%

​

​

12.26

%

​

​

10.50

%

Net interest margin (4)

​

​

4.36

%

​

​

4.13

%

​

​

3.83

%

​

​

4.17

%

​

​

3.83

%

Net interest margin fully tax equivalent (1)(4)

​

​

4.38

%

​

​

4.15

%

​

​

3.84

%

​

​

4.19

%

​

​

3.85

%

Efficiency ratio (1)

​

​

63.21

%

​

​

66.59

%

​

​

67.97

%

​

​

66.11

%

​

​

69.46

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Average Balances

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Average assets

​

$

2,065,812

​

​

$

2,079,467

​

​

$

2,022,958

​

​

$

2,047,838

​

​

$

2,021,263

​

Average earning assets

​

​

1,930,945

​

​

​

1,941,385

​

​

​

1,897,328

​

​

​

1,925,959

​

​

​

1,892,933

​

Average deposits

​

​

1,843,968

​

​

​

1,861,554

​

​

​

1,806,310

​

​

​

1,829,463

​

​

​

1,808,016

​

Average noninterest deposits to total average deposits

​

​

28.98

%

​

​

29.15

%

​

​

29.13

%

​

​

28.32

%

​

​

29.35

%

Average shareholders’ equity

​

$

195,262

​

​

$

191,465

​

​

$

177,130

​

​

​

191,909

​

​

$

172,297

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Asset Quality

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for credit losses on loans to nonperforming assets

​

​

267.70

%

​

​

315.45

%

​

​

253.37

%

​

​

267.70

%

​

​

253.37

%

Allowance for credit losses on loans to period end loans

​

​

0.96

%

​

​

1.00

%

​

​

1.01

%

​

​

0.96

%

​

​

1.01

%

Nonperforming assets to period end loans

​

​

0.36

%

​

​

0.32

%

​

​

0.40

%

​

​

0.36

%

​

​

0.40

%

Nonperforming assets to total assets

​

​

0.26

%

​

​

0.23

%

​

​

0.28

%

​

​

0.26

%

​

​

0.28

%

Non-accrual loans to period end loans

​

​

0.31

%

​

​

0.32

%

​

​

0.40

%

​

​

0.31

%

​

​

0.40

%

Non-accrual loans to total assets

​

​

0.22

%

​

​

0.23

%

​

​

0.28

%

​

​

0.22

%

​

​

0.28

%

Loan charge-offs

​

$

728

​

​

$

266

​

​

$

1,027

​

​

$

1,703

​

​

$

4,052

​

Loan recoveries

​

​

134

​

​

​

161

​

​

​

88

​

​

​

462

​

​

​

264

​

Net charge-offs

​

​

594

​

​

​

105

​

​

​

939

​

​

​

1,241

​

​

​

3,788

​

Non-accrual loans

​

​

4,637

​

​

​

4,737

​

​

​

5,702

​

​

​

4,637

​

​

​

5,702

​

Other real estate owned, net

​

​

747

​

​

​

—

​

​

​

—

​

​

​

747

​

​

​

—

​

Nonperforming assets

​

​

5,384

​

​

​

4,737

​

​

​

5,702

​

​

​

5,384

​

​

​

5,702

​

Loans 30 to 89 days past due, accruing

​

​

3,408

​

​

​

2,534

​

​

​

3,580

​

​

​

3,408

​

​

​

3,580

​

Loans over 90 days past due, accruing

​

​

—

​

​

​

—

​

​

​

388

​

​

​

—

​

​

​

388

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital Ratios (5)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total capital

​

$

215,522

​

​

$

210,436

​

​

$

194,910

​

​

$

215,522

​

​

$

194,910

​

Tier 1 capital

​

​

200,457

​

​

​

194,778

​

​

​

179,781

​

​

​

200,457

​

​

​

179,781

​

Common equity Tier 1 capital

​

​

200,457

​

​

​

194,778

​

​

​

179,781

​

​

​

200,457

​

​

​

179,781

​

Total capital to risk-weighted assets (3)

​

​

14.19

%

​

​

13.91

%

​

​

13.40

%

​

​

14.19

%

​

​

13.40

%

Tier 1 capital to risk-weighted assets (3)

​

​

13.20

%

​

​

12.87

%

​

​

12.36

%

​

​

13.20

%

​

​

12.36

%

Common equity Tier 1 capital / risk-weighted assets (3)

​

​

13.20

%

​

​

12.87

%

​

​

12.36

%

​

​

13.20

%

​

​

12.36

%

Leverage ratio (3)

​

​

9.77

%

​

​

9.44

%

​

​

8.88

%

​

​

9.77

%

​

​

8.88

%

FIRST NATIONAL CORPORATION Performance Summary (in thousands)
(unaudited)				​				​				​				​				​
		For the Period Ended
		Sept 30, 2026				Jun 30, 2026				Mar 31, 2026				Dec 31, 2025				Sept 30, 2025
Balance Sheet				​				​				​				​				​
Cash and due from banks		$	25,996			$	23,294			$	22,624			$	20,836			$	23,716
Interest-bearing deposits in banks			141,580				142,854				165,185				140,074				165,601
Cash and cash equivalents		$	167,576			$	166,148			$	187,809			$	160,910			$	189,317
Securities available for sale, at fair value			218,668				227,792				217,655				217,538				196,476
Securities held to maturity, at amortized cost (net of allowance for credit losses)			82,513				89,392				101,261				102,872				104,608
Restricted securities, at cost			5,642				5,642				5,642				5,624				4,436
Loans held for sale			262				—				—				—				—
Loans, net of allowance for credit losses			1,485,813				1,472,455				1,449,708				1,435,026				1,418,750
Other real estate owned, net			747				—				—				—				—
Premises and equipment, net			33,162				34,021				34,327				34,561				34,107
Accrued interest receivable			6,732				6,517				6,656				6,467				6,238
Bank owned life insurance			39,371				39,077				38,837				38,577				38,652
Goodwill			3,030				3,030				3,030				3,030				3,030
Core deposit intangibles, net			11,918				12,352				12,785				13,219				13,661
Other assets			19,426				19,219				18,113				20,154				21,479
Total assets		$	2,074,860			$	2,075,645			$	2,075,823			$	2,037,978			$	2,030,754
				​				​				​				​				​
Noninterest-bearing demand deposits		$	520,058			$	520,548			$	524,323			$	509,874			$	511,482
Savings and interest-bearing demand deposits			951,409				953,639				953,399				926,579				931,241
Time deposits			357,273				356,943				359,570				363,095				366,860
Total deposits		$	1,828,740			$	1,831,130			$	1,837,292			$	1,799,548			$	1,809,583
Other borrowings			25,000				25,000				25,000				25,000				—
Subordinated debt, net			8,537				8,460				8,385				8,312				21,241
Junior subordinated debt			9,279				9,279				9,279				9,279				9,279
Accrued interest payable and other liabilities			7,751				8,188				7,305				9,643				9,442
Total liabilities		$	1,879,307			$	1,882,057			$	1,887,261			$	1,851,782			$	1,849,545
				​				​				​				​				​
Common stock			11,320				11,303				11,301				11,282				11,262
Surplus			79,284				78,667				78,400				78,216				78,187
Retained earnings			121,854				116,494				112,288				108,937				104,964
Accumulated other comprehensive (loss), net			(16,905	)			(12,876	)			(13,427	)			(12,239	)			(13,204	)
Total shareholders’ equity		$	195,553			$	193,588			$	188,562			$	186,196			$	181,209
Total liabilities and shareholders’ equity		$	2,074,860			$	2,075,645			$	2,075,823			$	2,037,978			$	2,030,754
				​				​				​				​				​
Loan Portfolio				​				​				​				​				​
Real estate loans:				​				​				​				​				​
Construction and land development		$	99,991			$	113,289			$	97,487			$	88,424			$	78,470
Secured by farmland			10,199				10,348				11,554				11,879				12,812
Secured by 1-4 family residential			526,563				522,763				520,821				527,282				533,458
Other real estate loans			739,805				709,772				701,013				685,099				671,723
Commercial and industrial loans (except those secured by real estate)			106,134				113,205				114,517				117,256				117,047
Consumer installment loans			7,673				8,105				8,060				8,419				8,358
Deposit overdrafts			647				478				547				543				535
All other loans			9,214				9,438				10,407				10,843				10,794
Total loans		$	1,500,226			$	1,487,398			$	1,464,406			$	1,449,745			$	1,433,197
Allowance for credit losses			(14,413	)			(14,943	)			(14,698	)			(14,719	)			(14,447	)
Loans, net		$	1,485,813			$	1,472,455			$	1,449,708			$	1,435,026			$	1,418,750

FIRST NATIONAL CORPORATION Average Balances, Yields and Rates Paid (in thousands)
(unaudited)		Three Months Ended
		September 30, 2026										June 30, 2026										September 30, 2025
		Average Balance				Interest Income/ Expense			Yield/ Rate (7)			Average Balance				Interest Income/ Expense			Yield/ Rate (7)			Average Balance				Interest Income/ Expense			Yield/ Rate (7)
Assets				​				​		​				​				​		​				​				​		​
Securities:				​				​		​				​				​		​				​				​		​
Taxable		$	250,906			$	1,899		3.00	%		$	256,750			$	1,843		2.88	%		$	242,797			$	1,562		2.55	%
Tax-exempt (1)			62,745				370		2.33	%			62,353				372		2.39	%			51,493				375		2.89	%
Restricted			4,468				64		5.66	%			4,468				64		5.76	%			4,436				65		5.80	%
Total securities		$	318,119			$	2,333		2.91	%		$	323,571			$	2,279		2.82	%		$	298,726			$	2,002		2.66	%
Loans:				​				​		​				​				​		​				​				​		​
Taxable		$	1,483,047			$	23,452		6.27	%		$	1,473,064			$	22,103		6.02	%		$	1,437,946			$	21,386		5.90	%
Tax-exempt (1)			3,463				55		6.34	%			3,460				54		6.31	%			3,473				55		6.29	%
Total loans		$	1,486,510			$	23,507		6.27	%		$	1,476,524			$	22,157		6.02	%		$	1,441,419			$	21,441		5.90	%
Federal funds sold			13				—		—				1				—		—				55				—		—
Interest-bearing deposits with other institutions			126,303				1,169		3.67	%			141,289				1,287		3.66	%			157,128				1,734		4.38	%
Total earning assets		$	1,930,945			$	27,009		5.55	%		$	1,941,385			$	25,723		5.31	%		$	1,897,328			$	25,177		5.26	%
Less: allowance for credit losses on loans			(15,193	)				​		​			(15,039	)				​		​			(15,378	)				​		​
Total non-earning assets			150,060					​		​			153,121					​		​			141,008					​		​
Total assets		$	2,065,812					​		​		$	2,079,467					​		​		$	2,022,958					​		​
Liabilities and Shareholders’ Equity				​				​		​				​				​		​				​				​		​
Interest bearing deposits:				​				​		​				​				​		​				​				​		​
Checking		$	409,383			$	1,138		1.10	%		$	416,041			$	1,101		1.06	%		$	376,344			$	1,256		1.32	%
Regular savings			210,192				173		0.33	%			212,451				171		0.32	%			209,909				208		0.39	%
Money market accounts			332,549				1,582		1.89	%			335,904				1,573		1.88	%			330,115				1,882		2.26	%
Time deposits			357,452				2,578		2.86	%			354,558				2,565		2.90	%			363,702				2,900		3.16	%
Total interest-bearing deposits		$	1,309,576			$	5,471		1.66	%		$	1,318,954			$	5,410		1.65	%		$	1,280,070			$	6,246		1.94	%
Federal funds purchased			5				—		—				2				—		—				—				—		—
Subordinated debt			8,498				171		8.02	%			8,422				170		8.09	%			21,304				479		8.92	%
Junior subordinated debt			9,279				69		2.95	%			9,279				69		2.96	%			9,279				67		2.83	%
Other borrowings			272				3		4.19	%			275				3		3.93	%			—				—		—
Total interest-bearing liabilities		$	1,327,630			$	5,714		1.71	%		$	1,336,932			$	5,652		1.70	%		$	1,310,653			$	6,792		2.06	%
Non-interest bearing liabilities				​				​		​				​				​		​				​				​		​
Demand deposits			534,392					​		​			542,600					​		​			526,240					​		​
Other liabilities			8,528					​		​			8,470					​		​			8,935					​		​
Total liabilities		$	1,870,550					​		​		$	1,888,002					​		​		$	1,845,828					​		​
Shareholders’ equity			195,262					​		​			191,465					​		​			177,130					​		​
Total liabilities and Shareholders’ equity		$	2,065,812					​		​		$	2,079,467					​		​		$	2,022,958					​		​
Net interest income (1)				​		$	21,295			​				​		$	20,071			​				​		$	18,385			​
Interest rate spread (1)				​				​	3.84	%				​				​	3.61	%				​				​	3.21	%
Cost of funds				​				​	1.22	%				​				​	1.21	%				​				​	1.47	%
Interest expense as a percent of average earning assets				​				​	1.17	%				​				​	1.17	%				​				​	1.42	%
Net interest margin FTE (1)				​				​	4.38	%				​				​	4.15	%				​				​	3.84	%

FIRST NATIONAL CORPORATION Average Balances, Yields and Rates Paid (in thousands)
(unaudited)		Nine Months Ended
		September 30, 2026										September 30, 2025
		Average Balance				Interest Income/ Expense			Yield / Rate (7)			Average Balance				Interest Income/ Expense			Yield / Rate (7)
Assets				​				​		​				​				​		​
Securities:				​				​		​				​				​		​
Taxable		$	255,719			$	5,528		2.90	%		$	227,643			$	4,189		2.46	%
Tax-exempt (1)			62,225				1,110		2.39	%			51,380				1,132		2.95	%
Restricted			4,467				192		5.78	%			4,353				194		5.96	%
Total securities		$	322,411			$	6,830		2.84	%		$	283,376			$	5,515		2.60	%
Loans:				​				​		​				​				​		​
Taxable		$	1,467,572			$	66,529		6.08	%		$	1,444,739			$	63,513		5.88	%
Tax-exempt (1)			3,468				163		6.34	%			4,117				187		6.08	%
Total loans		$	1,471,040			$	66,692		6.08	%		$	1,448,856			$	63,700		5.88	%
Federal funds sold			17				—		—				1,182				40		4.52	%
Interest-bearing deposits with other institutions			132,491				3,627		3.67	%			159,519				5,295		4.44	%
Total earning assets		$	1,925,959			$	77,149		5.38	%		$	1,892,933			$	74,550		5.27	%
Less: allowance for credit losses on loans			(15,091	)				​		​			(15,624	)				​		​
Total non-earning assets			136,970					​		​			143,954					​		​
Total assets		$	2,047,838					​		​		$	2,021,263					​		​
Liabilities and Shareholders’ Equity				​				​		​				​				​		​
Interest bearing deposits:				​				​		​				​				​		​
Checking		$	409,527			$	3,317		1.09	%		$	370,045			$	3,696		1.34	%
Regular savings			211,231				521		0.33	%			211,635				574		0.36	%
Money market accounts			333,069				4,647		1.87	%			332,864				5,713		2.30	%
Time deposits			357,495				7,810		2.93	%			362,860				8,380		3.09	%
Total interest-bearing deposits		$	1,311,322			$	16,295		1.67	%		$	1,277,404			$	18,363		1.92	%
Federal funds purchased			9				—		—				1				—		—
Subordinated debt			8,423				509		8.11	%			22,500				1,414		8.40	%
Junior subordinated debt			9,279				204		2.95	%			9,279				199		2.86	%
Other borrowings			366				11		4.01	%			92				3		4.63	%
Total interest-bearing liabilities		$	1,329,399			$	17,019		1.72	%		$	1,309,276			$	19,979		2.04	%
Non-interest bearing liabilities				​				​		​				​				​		​
Demand deposits			518,141					​		​			530,612					​		​
Other liabilities			8,389					​		​			9,078					​		​
Total liabilities		$	1,855,929					​		​		$	1,848,966					​		​
Shareholders’ equity			191,909					​		​			172,297					​		​
Total liabilities and Shareholders’ equity		$	2,047,838					​		​		$	2,021,263					​		​
Net interest income (1)				​		$	60,130			​				​		$	54,571			​
Interest rate spread (1)				​				​	3.66	%				​				​	3.23	%
Cost of funds				​				​	1.24	%				​				​	1.45	%
Interest expense as a percent of average earning assets				​				​	1.19	%				​				​	1.41	%
Net interest margin FTE (1)				​				​	4.19	%				​				​	3.85	%

FIRST NATIONAL CORPORATION Non-GAAP Reconciliation (in thousands, except share and per share data)
(unaudited)				​				​				​				​				​
		For the Three Months Ended												For the Nine Months Ended
		Sept 30, 2026				Jun 30, 2026				Sept 30, 2025				Sept 30, 2026				Sept 30, 2025
Operating Net Income				​				​				​				​				​
Net income (GAAP)		$	6,900			$	5,743			$	5,550			$	17,530			$	12,199
Add: Merger-related expenses			—				—				—				—				2,032
Subtract: Bargain purchase gain			—				—				(304	)			—				(304	)
Subtract: Tax effect of adjustment (6)			—				—				64				—				(327	)
Adjusted operating net income (non-GAAP)		$	6,900			$	5,743			$	5,310			$	17,530			$	13,600
				​				​				​				​				​
Adjusted Earnings Per Share, Basic				​				​				​				​				​
Weighted average shares, basic			9,050,059				9,041,314				8,999,153				9,041,056				8,988,692
Basic earnings per share (GAAP)		$	0.76			$	0.64			$	0.62			$	1.94			$	1.36
Adjusted earnings per share, basic (non-GAAP)		$	0.76			$	0.64			$	0.58			$	1.94			$	1.51
				​				​				​				​				​
Adjusted Earnings Per Share, Diluted				​				​				​				​				​
Weighted average shares, diluted			9,084,052				9,068,347				9,023,185				9,066,673				9,010,432
Diluted earnings per share (GAAP)		$	0.76			$	0.63			$	0.62			$	1.93			$	1.35
Adjusted diluted earnings per share (non-GAAP)		$	0.76			$	0.63			$	0.58			$	1.93			$	1.50
				​				​				​				​				​
Adjusted Pre-Provision, Pre-Tax Earnings				​				​				​				​				​
Net interest income		$	21,206			$	19,981			$	18,295			$	59,863			$	54,294
Total noninterest income			4,084				4,018				4,500				11,926				12,000
Net revenue		$	25,290			$	23,999			$	22,795			$	71,789			$	66,294
Total noninterest expense			16,696				16,437				15,782				49,115				49,308
Pre-provision, pre-tax earnings (non-GAAP)		$	8,594			$	7,562			$	7,013			$	22,674			$	16,986
Add: Merger expenses			—				—				—				—				2,032
Subtract: Bargain purchase gain			—				—				(304	)			—				(304	)
Adjusted pre-provision, pre-tax earnings (non-GAAP)		$	8,594			$	7,562			$	6,709			$	22,674			$	18,714
				​				​				​				​				​
Adjusted Performance Ratios				​				​				​				​				​
Average assets		$	2,065,812			$	2,079,467			$	2,022,958			$	2,047,838			$	2,021,263
Return on average assets (GAAP)			1.32	%			1.11	%			1.09	%			1.15	%			0.81	%
Adjusted return on average assets (non-GAAP)			1.32	%			1.11	%			1.03	%			1.15	%			0.90	%
				​				​				​				​				​
Average shareholders’ equity		$	195,262			$	191,465			$	177,130			$	191,909			$	172,297
Return on average equity (GAAP)			14.02	%			12.03	%			12.43	%			12.26	%			9.47	%
Adjusted return on average equity (non-GAAP)			14.02	%			12.03	%			11.75	%			12.26	%			10.50	%
				​				​				​				​				​
Net Interest Margin				​				​				​				​				​
Net interest income		$	21,206			$	19,981			$	18,295			$	59,863			$	54,294
Tax-equivalent net interest income (non-GAAP)			21,295				20,071				18,385				60,130				54,571
Average earning assets			1,930,945				1,941,385				1,897,328				1,925,959				1,892,933
Net interest margin			4.36	%			4.13	%			3.83	%			4.17	%			3.83	%
Net interest margin fully tax equivalent (non-GAAP)			4.38	%			4.15	%			3.84	%			4.19	%			3.85	%

FIRST NATIONAL CORPORATION Non-GAAP Reconciliation (in thousands)
(unaudited)		For the Three Months Ended												For the Nine Months Ended
		Sept 30, 2026				Jun 30, 2026				Sept 30, 2025				Sept 30, 2026				Sept 30, 2025
Adjusted Operating Noninterest Expense				​				​				​				​				​
Total noninterest expense (GAAP)		$	16,696			$	16,437			$	15,782			$	49,115			$	49,308
Subtract: merger expenses			—				—				—				—				(2,032	)
Subtract: amortization expense			(434	)			(433	)			(442	)			(1,301	)			(1,325	)
Adjusted operating noninterest expense (non-GAAP)		$	16,262			$	16,004			$	15,340			$	47,814			$	45,951
				​				​				​				​				​
Efficiency Ratio				​				​				​				​				​
Total noninterest expense (GAAP)		$	16,696			$	16,437			$	15,782			$	49,115			$	49,308
Subtract/Add: other real estate owned (expense) income, net			(212	)			—				—				(212	)			7
Subtract: amortization of intangibles			(434	)			(433	)			(442	)			(1,301	)			(1,325	)
Add: gain on disposal of premises and equipment, net			—				—				9				—				16
Subtract: merger expenses			—				—				—				—				(2,032	)
Adjusted operating non-interest expense (non-GAAP)		$	16,050			$	16,004			$	15,349			$	47,602			$	45,974
Tax-equivalent net interest income (non-GAAP)		$	21,295			$	20,071			$	18,385			$	60,130			$	54,571
Total noninterest income (GAAP)			4,084				4,018				4,500				11,926				12,000
Add/Subtract: loss (gain) on disposal of premises and equipment			12				(56	)			—				(44	)			—
Subtract: net (gain) on subordinated debt payoff			—				—				—				—				(80	)
Subtract: bargain purchase gain			—				—				(304	)			—				(304	)
Subtract: securities (gains), net			—				—				—				(8	)			—
Adjusted income for efficiency ratio (non-GAAP)		$	25,391			$	24,033			$	22,581			$	72,004			$	66,187
				​				​				​				​				​
Efficiency ratio (non-GAAP)			63.21	%			66.59	%			67.97	%			66.11	%			69.46	%

FIRST NATIONAL CORPORATION Non-GAAP Reconciliation (in thousands, except share and per share data)
(unaudited)				​				​				​				​				​
		For the Three Months Ended												For the Nine Months Ended
		Sept 30, 2026				Jun 30, 2026				Sept 30, 2025				Sept 30, 2026				Sept 30, 2025
Tax-Equivalent Net Interest Income				​				​				​				​				​
GAAP measures:				​				​				​				​				​
Interest income – loans		$	23,496			$	22,145			$	21,430			$	66,658			$	63,661
Interest income – investments and other			3,424				3,488				3,657				10,224				10,612
Interest expense – deposits			(5,471	)			(5,410	)			(6,246	)			(16,295	)			(18,363	)
Interest expense – subordinated debt			(171	)			(170	)			(479	)			(509	)			(1,414	)
Interest expense – junior subordinated debt			(69	)			(69	)			(67	)			(204	)			(199	)
Interest expense – other borrowings			(3	)			(3	)			—				(11	)			(3	)
Net interest income		$	21,206			$	19,981			$	18,295			$	59,863			$	54,294
Non-GAAP measures:				​				​				​				​				​
Add: Tax benefit realized on non-taxable interest income – loans (6)		$	11			$	12			$	11			$	34			$	39
Add: Tax benefit realized on non-taxable interest income – municipal securities (6)			78				78				79				233				238
Tax benefit realized on non-taxable interest income		$	89			$	90			$	90			$	267			$	277
Tax-equivalent net interest income (non-GAAP)		$	21,295			$	20,071			$	18,385			$	60,130			$	54,571
				​				​				​				​				​
Tangible Common Equity and Tangible Assets				​				​				​				​				​
Total assets (GAAP)		$	2,074,860			$	2,075,645			$	2,030,754			$	2,074,860			$	2,030,754
Subtract: goodwill			(3,030	)			(3,030	)			(3,030	)			(3,030	)			(3,030	)
Subtract: core deposit intangibles, net			(11,918	)			(12,352	)			(13,661	)			(11,918	)			(13,661	)
Tangible assets (Non-GAAP)		$	2,059,912			$	2,060,263			$	2,014,063			$	2,059,912			$	2,014,063
				​				​				​				​				​
Total shareholders’ equity (GAAP)		$	195,553			$	193,588			$	181,209			$	195,553			$	181,209
Subtract: goodwill			(3,030	)			(3,030	)			(3,030	)			(3,030	)			(3,030	)
Subtract: core deposit intangibles, net			(11,918	)			(12,352	)			(13,661	)			(11,918	)			(13,661	)
Tangible common equity (Non-GAAP)		$	180,605			$	178,206			$	164,518			$	180,605			$	164,518
				​				​				​				​				​
Tangible common equity to tangible assets ratio (non-GAAP)			8.77	%			8.65	%			8.17	%			8.77	%			8.17	%
				​				​				​				​				​
Tangible Book Value Per Share				​				​				​				​				​
Tangible common equity (non-GAAP)		$	180,605			$	178,206			$	164,518			$	180,605			$	164,518
Common shares outstanding, ending			9,057,224				9,042,629				9,009,209				9,057,224				9,009,209
Tangible book value per share (non-GAAP)		$	19.94			$	19.71			$	18.26			$	19.94			$	18.26

(1)	Non-GAAP financial measure. See “Non-GAAP Financial Measures” and “Non-GAAP Reconciliation” tables for additional information and detailed calculations of adjustments.
(2)	The Company is a small bank holding company under applicable regulations and guidance and is not subject to the minimum regulatory capital regulations for bank holding companies. The regulatory requirements that apply to bank holding companies that are subject to regulatory capital requirements are presented below, along with the Company’s capital ratios as determined under those regulations.
(3)	All ratios on September 30, 2026, are estimates and subject to change pending the Bank’s filing of its Call Report. All other periods are presented as filed.
(4)	Ratios are annualized.
(5)	Capital ratios presented are for First Bank.
(6)	The tax rate utilized in calculating the tax benefit is 21%.
(7)	Yields and interest income are presented on a taxable-equivalent basis using the federal statutory tax rate of 21%.