Key insight: The bank hired two executives and launched a new private banking team to diversify its loan portfolio and nab more of its clients' business.What's at stake: Despite a growth-via-acquisition strategy, Simmons has underperformed peers in the market in recent years.Forward look: The company's largest opportunity to exceed its guidance for 2026 is by racking up low-cost deposits, the CEO said.Simmons First National is bulking up its executive leadership team under its new CEO, Jay Brogdon, the bank ...

Financial Performance - Consolidated net income for Q4 2025 was $5.5 million, with basic and diluted earnings per share of $0.61[1] - For the year ended December 31, 2025, consolidated earnings were $17.7 million, with basic and diluted earnings per share of $1.97 and $1.96, respectively[1] - Net income for the year ended December 31, 2025, was $17,703 thousand, a significant increase from $6,966 thousand in 2024[30] - Basic earnings per share (GAAP) for the year ended December 31, 2025, was $1.97, an increase from $1.00 in 2024, representing a 97% increase[35] - Adjusted earnings per common share for the year ended December 31, 2025, increased to $2.13 from $2.10 in 2024[31] Asset and Loan Growth - Total assets increased to $2.039 billion, a 0.4% increase from September 30, 2025[14] - Loan growth for Q4 2025 was $16.3 million, representing a 4.6% annualized growth rate[5] - Average assets for the year ended December 31, 2025, were $2,061.973 million, compared to $2,022.958 million in Q3 2025 and $2,051.578 million in 2024[31] - Total loans portfolio stood at $1,449,745 thousand, a slight increase from $1,433,197 thousand in the previous quarter[32] Non-Performing Assets and Credit Losses - Non-performing assets (NPAs) as a percentage of total loans improved to 0.32% on December 31, 2025, down from 0.40% on September 30, 2025[20] - The allowance for credit losses on loans totaled $14.7 million, or 1.02% of total loans on December 31, 2025[8] - The company reported a provision for credit losses of $951 thousand in Q4 2025, compared to $193 thousand in Q3 2025, indicating increased caution in credit risk management[30] - Loan charge-offs for the year ended December 31, 2025, totaled $4.805 million, compared to $4.033 million in 2024[31] Income and Expense Analysis - Total noninterest income for the year ended December 31, 2025, was $17,018 thousand, compared to $16,380 thousand in 2024, reflecting a growth of 3.9%[30] - Noninterest expense for the year ended December 31, 2025, was $65,433 thousand, compared to $52,934 thousand in 2024, indicating an increase of 23.6%[30] - Adjusted operating noninterest expense for Q4 2025 was $15,556,000, slightly up from $15,340,000 in Q3 2025 but significantly lower than $21,929,000 in Q4 2024[36] Capital Ratios and Dividends - Total risk-based capital ratio for First National Corporation decreased to 14.53% as of December 31, 2025, from 15.15% in the previous quarter[23] - Tier 1 risk-based capital ratio increased to 12.93% as of December 31, 2025, compared to 12.83% in the prior quarter[23] - The Company declared a cash dividend of $0.17 per common share in Q4 2025, up from $0.155 in Q3 2025[22] - Tangible book value per share grew to $18.83 at December 31, 2025, from $18.26 at September 30, 2025[22] Interest Income and Efficiency - Net interest margin (FTE) for Q4 2025 was 3.95%, up from 3.84% in Q3 2025 and 3.83% in Q4 2024[4] - Net interest income after provision for credit losses was $18,001 thousand for Q4 2025, up from $18,102 thousand in Q3 2025[30] - The interest rate spread improved to 3.37% for the quarter ended December 31, 2025, compared to 3.21% in the previous quarter[33] - The efficiency ratio (non-GAAP) improved to 64.66% in Q4 2025 from 67.97% in Q3 2025, indicating better cost management[36]

Core Insights - First National Corporation reported a record financial performance for the fourth quarter and the year 2025, with consolidated net income of $5.5 million and earnings per share of $0.61 for Q4 2025, and $17.7 million with earnings per share of $1.97 for the full year [1][2] Financial Performance - The net interest margin for Q4 2025 was 3.95%, an increase from 3.84% in Q3 2025 and 3.83% in Q4 2024 [4][6] - Net interest income for Q4 2025 was $19.0 million, up from $18.3 million in Q3 2025, driven by a slight increase in net accretion income and a decrease in interest expense on average interest-bearing liabilities [4][7] - Non-interest income increased by $518 thousand to $5.0 million in Q4 2025, primarily due to a recovery from an acquired loan [10][11] Asset Quality - Non-performing assets (NPAs) as a percentage of total loans improved to 0.32% on December 31, 2025, down from 0.40% on September 30, 2025, and 0.48% on December 31, 2024 [21][22] - The allowance for credit losses on loans totaled $14.7 million, or 1.02% of total loans, reflecting an increase from the previous quarter [9][34] Capital and Dividends - The Company declared a quarterly dividend of $0.17 per common share, a 9.7% increase from the previous quarter [2][23] - Tangible book value per share grew to $18.83 at December 31, 2025, from $18.26 at September 30, 2025 [23][33] Balance Sheet - Total assets were $2.039 billion as of December 31, 2025, reflecting a 0.4% increase from the previous quarter and a 1.4% increase from the previous year [15][16] - Total loans held for investment increased by $16.3 million to $1.435 billion from the previous quarter [16][18] Liquidity - Liquidity sources available to the Bank totaled $743.0 million on December 31, 2025, an increase from $676.1 million on September 30, 2025 [19][20]

Core Insights - DriveItAway Holdings, Inc. is expanding its service footprint to nine major U.S. cities as part of a joint mobility program with Free2move, enhancing accessibility to flexible lease-to-own automotive solutions [1][2] - The expansion aims to make mobility accessible to individuals who cannot meet traditional financing requirements, with a focus on no down payment, no minimum credit score, and no long-term lease commitments [2] - The partnership with Free2move is expected to facilitate a national rollout, leveraging a dealer network to bridge the gap in accessible mobility [2][7] Expansion Details - The new markets for DriveItAway's flexible lease/subscription service include Miami, Fort Lauderdale, Orlando, Tampa, Key West, Minneapolis/St. Paul, Denver, St. Louis, and Los Angeles [6] - The company plans to continue expanding into additional U.S. cities in 2026, driven by dealer participation and regional demand [4] Strategic Partnerships - The collaboration with Free2move integrates flexible lease-to-own technology with aligned supply, enabling a national rollout through franchise dealerships [7] - Free2move, a subsidiary of Stellantis, provides the necessary industrial scale and expertise to support DriveItAway's accelerated growth [1][7] Leadership and Advisory Board - DriveItAway has strengthened its Board of Advisors by adding members with extensive experience in retail, rental, and capital markets, which will support the company's growth and operational discipline [7] Market Positioning - DriveItAway is positioned as a national dealer-focused mobility platform, enabling franchise dealers to sell more vehicles through an exclusive lease-to-own, app-based subscription model [5]

First National Corp. (FXNC) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a changing ...

Core Points - Denison Mines Corp has signed the Nuhenéné Benefit Agreement with the Athabasca Communities, which includes several First Nations and municipalities, to support the development of its uranium projects in northern Saskatchewan [1][2][4] - The agreement allows Denison to advance its Wheeler River Project and Waterbury Lake Project, and includes its minority interest in the Midwest Project and the operating McClean Lake Project [1][4] - The agreement emphasizes environmental oversight, community investment, business opportunities, and employment and training for the Athabasca Communities [4][5] Company Overview - Denison is a leading uranium mining, development, and exploration company with a 95% interest in the Wheeler River Uranium Project, the largest undeveloped uranium project in the eastern Athabasca Basin [6] - The company has completed feasibility studies for its Phoenix deposit and Gryphon deposit, indicating potential competitiveness with the lowest cost uranium mining operations globally [7] - Denison's interests also include a 22.5% stake in the McClean Lake Joint Venture and various other uranium projects through its 50% ownership of JCU (Canada) Exploration Company [8][9] Community Engagement - The agreement reflects a commitment to maintaining a cooperative relationship between Denison and the Athabasca Communities, focusing on sustainable development and environmental protection [5][10] - Community leaders expressed that the agreement will create job opportunities, training programs, and support local businesses, contributing to long-term prosperity in the region [2][3] - The Ya'thi Néné Land and Resource Office plays a crucial role in ensuring the voices and rights of the Athabasca residents are represented in decisions affecting their lands and resources [11][12]

Financial Performance - Net income for Q3 2025 increased by $3.4 million to $5.6 million, or $0.62 per diluted share, compared to $2.2 million, or $0.36 per diluted share, in Q3 2024[148] - For the nine months ended September 30, 2025, net income increased by $4.3 million to $12.2 million, or $1.35 per diluted share, compared to $7.9 million, or $1.26 per diluted share, in the same period of 2024[155] - Net income for the three months ended September 30, 2025, increased by $3.4 million to $5.6 million, or $0.62 per diluted share, compared to $2.2 million, or $0.36 per diluted share, for the same period in 2024[171] Interest Income and Margin - Net interest income increased by $6.5 million, driven by a $7.6 million increase in total interest income, with a 38.0% increase in average earning assets of $522.8 million[151] - Net interest income for the three months ended September 30, 2025, increased by $6.5 million, or 55.7%, to $18.3 million, driven by a $7.0 million increase in interest income and fees on loans[174] - The net interest margin for the third quarter of 2025 was 3.84%, an increase of 41 basis points compared to 3.43% for the same period in the prior year[177] - Net interest income for the nine months ended September 30, 2025, increased by $20.2 million, or 59.3%, to $54.3 million, with total interest income rising by $23.4 million[178] - The net interest margin for the nine months ended September 30, 2025, was 3.85%, compared to 3.36% for the same period in the prior year, reflecting a 49 basis point increase[182] Noninterest Income and Expenses - Noninterest income rose by $1.3 million in Q3 2025, primarily from increases in service charges and fees related to the Touchstone acquisition[153] - Noninterest income increased by $1.3 million, or 40.5%, to $4.5 million for Q3 2025 compared to Q3 2024[189] - Noninterest income for the nine months ended September 30, 2025, rose by $2.1 million, or 20.8%, to $12.0 million compared to the same period in 2024[190] - Noninterest expenses increased by $5.3 million, mainly due to a $2.6 million rise in salaries and employee benefits related to the Touchstone merger[154] - Noninterest expenses increased by $5.3 million, or 50.9%, to $15.8 million for Q3 2025 compared to Q3 2024, primarily due to a $2.6 million increase in salaries and employee benefits[191] - Noninterest expenses for the nine months ended September 30, 2025, rose by $18.3 million, or 59.0%, to $49.3 million compared to the same period in 2024[192] Credit Losses and Allowance - Provision for credit losses decreased by $1.5 million in Q3 2025, totaling $193 thousand, compared to $1.7 million in Q3 2024[152] - The provision for credit losses for the three-month period ended September 30, 2025, was $193 thousand, significantly lower than $1.7 million for the same period last year[187] - The allowance for credit losses to total loans ratio decreased to 1.01% at September 30, 2025, down from 1.28% at September 30, 2024[188] - The net charge-offs for the first nine months of 2025 totaled $3.8 million, compared to $2.4 million for the same period in 2024[188] Assets and Liabilities - Total assets as of September 30, 2025, were $2,022,958 thousand, an increase from $1,449,264 thousand in the prior year[183] - Total earning assets increased to $1,897,328 thousand with an average yield of 5.26%, compared to $1,374,566 thousand and 5.08% in the prior year[183] - Total deposits reached $1.810 billion as of September 30, 2025, reflecting a $5.8 million (0.6%) increase from December 31, 2024, and a $556.3 million (44.4%) increase from September 30, 2024[210] - Total interest-bearing liabilities increased to $1,310,653 thousand with an interest expense of $6,792 thousand, resulting in a cost of funds of 2.06%[183] - Loans totaled $1.419 billion at September 30, 2025, reflecting a decrease of $31.4 million, or 8.7%, from December 31, 2024[200] Capital and Liquidity - The Bank's total capital to risk-weighted assets ratio was 13.40% as of September 30, 2025, exceeding the minimum requirement of 8.00%[218] - The Tier 1 capital to risk-weighted assets ratio was 12.36% as of September 30, 2025, above the minimum requirement of 6.00%[218] - The common equity Tier 1 capital to risk-weighted assets ratio was 12.36% as of September 30, 2025, surpassing the minimum requirement of 4.50%[218] - Liquidity sources available to the Bank totaled $783.2 million on September 30, 2025, up from $758.0 million on December 31, 2024, and $499.1 million on September 30, 2024[213] - Estimated uninsured customer deposits amounted to $555.0 million on September 30, 2025, compared to $537.0 million on December 31, 2024, and $400.1 million on September 30, 2024[214] Merger and Acquisition Costs - The Company incurred merger costs totaling $2.0 million and $7.2 million for the nine months ended September 30, 2025, and the year ended December 31, 2024, respectively[147] - Noninterest expenses for the nine months increased by $18.3 million, primarily due to merger expenses of $2.0 million and additional operating costs from the Touchstone merger[160] Tax and Shareholder Equity - The effective tax rate for Q3 2025 was 18.6%, compared to 19.5% for Q3 2024[194] - Total shareholders' equity increased by $14.7 million during the first nine months of 2025, primarily from an $8.0 million increase in retained earnings[199] Other Financial Metrics - The efficiency ratio, a non-GAAP measure, is used to assess operational efficiency, calculated by dividing noninterest expenses by the sum of net interest income and noninterest income[161] - The efficiency ratio for the three months ended September 30, 2025, was 67.97%, compared to 67.95% for the same period in 2024[165] - The company experienced a $20.2 million increase in net interest income after provision for the nine months ended September 30, 2025, offset by an $18.3 million increase in noninterest expenses[173] - The Company had commitments to extend credit totaling $288.1 million as of September 30, 2025, compared to $212.9 million at the same date in 2024[221] - The Company recognized an $80 thousand gain on the early redemption of a $500 thousand tranche of subordinated debt during the second quarter of 2025[211] - The cash flow hedges related to interest rate swaps had a fair value of $2.3 million as of September 30, 2025[225]

Core Points - First National Corporation announced a quarterly cash dividend of $0.17 per share, reflecting a 9.7% increase from the previous dividend of $0.155 per share [1] - The increase in dividends is attributed to the company's strong financial performance, with a consistent annual cash dividend payout increase over the past ten years [2] Company Overview - First National Corporation is the parent company of First Bank, a community bank established in 1907 in Strasburg, Virginia [3] - The Bank provides a range of loan and deposit products and services through various platforms, including mobile banking, ATMs, and multiple branch locations across Virginia and northern North Carolina [3] - In addition to traditional banking services, the Bank operates a wealth management division and owns an interest in a title insurance services entity through First Bank Financial Services, Inc. [3]

Financial Performance - Earnings for Q3 2025 were $5.55 million, with earnings per share of $0.62, representing an 11% increase from the previous period and a 72% increase year-over-year[1][5] - For the three months ended September 30, 2025, net income was $5,550,000, an increase from $5,051,000 for the previous quarter[28] - Net income for Q3 2025 was $5,550,000, compared to $5,051,000 in Q2 2025 and $2,248,000 in Q3 2024, representing a year-over-year increase of 146.5%[33] - Adjusted operating net income (non-GAAP) for Q3 2025 was $5,310,000, up from $2,448,000 in Q3 2024, reflecting a growth of 116.1%[33] - Basic earnings per common share increased to $0.62 for Q3 2025, up from $0.56 in Q2 2025 and $0.36 in Q3 2024[29] - Adjusted earnings per common share, basic, rose to $0.58 in Q3 2025, compared to $0.57 in Q2 2025 and $0.39 in Q3 2024[29] Asset and Loan Growth - Total assets were $2.031 billion, a 40.0% increase from the previous year[12] - Total assets as of September 30, 2025, were $2,030,754,000, compared to $1,450,716,000 a year earlier, marking an increase of 39.9%[35] - Net loans held for investment totaled $1.419 billion, an increase of 44.5% from the previous year[5][13] - Total loans reached $1,441,419 thousand with a yield of 5.90% for the three months ended September 30, 2025, compared to $991,183 thousand and a yield of 5.82% a year earlier, indicating a significant increase in both volume and yield[31] - Total loans decreased to $1,433,197,000 from $1,443,437,000, reflecting a decline of approximately 0.7%[30] Deposits and Capital - Total deposits reached $1.810 billion, up 44.4% from one year prior[5][15] - Total deposits increased to $1,809,583,000 from $1,803,166,000 in the previous quarter, reflecting a growth of approximately 0.9%[30] - Total capital reached $194.91 million as of Q3 2025, an increase from $189.12 million in Q2 2025 and $148.48 million in Q3 2024[29] - Shareholders' equity rose to $177,130 thousand as of September 30, 2025, compared to $122,882 thousand a year earlier, reflecting a year-over-year increase of 44%[31] Income and Expenses - Total interest and dividend income for the nine months ended September 30, 2025, was $74,273,000, compared to $50,833,000 for the same period in 2024, representing a 46.3% increase[28] - Total noninterest income for Q3 2025 was $4,500,000, compared to $3,203,000 in Q3 2024, indicating a growth of 40.4%[34] - Total noninterest expense for the nine months ended September 30, 2025, was $49,308,000, compared to $31,005,000 in 2024, indicating a 59.3% increase[28] - Total noninterest expense for Q3 2025 was $15,782,000, up from $10,459,000 in Q3 2024, reflecting a 51.1% increase, primarily due to merger-related expenses[34] Efficiency and Ratios - The efficiency ratio for the nine months ended September 30, 2025, improved to 73.1% from 78.1% in 2024, indicating better cost management[28] - Efficiency ratio (non-GAAP) for Q3 2025 was 67.97%, compared to 67.95% in Q3 2024, indicating a slight improvement in operational efficiency[34] - Return on average assets improved to 1.09% in Q3 2025, up from 1.00% in Q2 2025 and 0.62% in Q3 2024[29] - Return on average equity increased to 12.43% in Q3 2025, compared to 11.85% in Q2 2025 and 7.28% in Q3 2024[29] Credit Quality - Non-performing assets (NPAs) as a percentage of total assets improved to 0.28%, down from 0.33% in Q2 2025 and 0.41% in Q3 2024[5][19] - The allowance for credit losses on loans was $14.4 million, or 1.01% of total loans, down from 1.05% in Q2 2025[6][7] - Provision for credit losses for the three months ended September 30, 2025, was $193,000, significantly lower than $911,000 in the previous quarter[28] - Nonperforming assets decreased to $5.70 million in Q3 2025 from $6.80 million in Q2 2025 and $5.99 million in Q3 2024[29] Dividends - The Company declared and paid cash dividends of $0.155 per common share, consistent with the previous quarter[21] - Cash dividends declared remained stable at $0.155 per share for Q3 2025, consistent with Q2 2025 and up from $0.15 in Q3 2024[29]

分组1 - First National Corp. reported quarterly earnings of $0.58 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.39 per share a year ago [1] - The company posted revenues of $22.8 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 1.76%, compared to $14.95 million in the same quarter last year [2] - Over the last four quarters, First National has surpassed consensus EPS estimates two times and revenue estimates three times [2][3] 分组2 - The stock has underperformed, losing about 3.1% since the beginning of the year, while the S&P 500 has gained 17.2% [3] - The current consensus EPS estimate for the coming quarter is $0.58 on revenues of $22.6 million, and for the current fiscal year, it is $1.90 on revenues of $88.5 million [7] - The Zacks Industry Rank for Banks - Southeast is in the top 16% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]