Virginia National Bankshares Declares $0.36 Quarterly Dividend

Virginia National Bankshares Corporation (NASDAQ: VABK), a community banking company operating in Virginia, declared a quarterly cash dividend of $0.36 per share on April 22, 2026. The dividend will be paid to stockholders of record as of May 13, 2026. Read more dividend announcements.

The payment represents an annualized dividend yield of approximately 3.50% based on the company's closing stock price on April 21, 2026.

First Quarter Financial Performance

The dividend declaration accompanied the company's first quarter 2026 earnings announcement. Virginia National Bankshares reported net income of $5.3 million, or $0.97 per diluted share, for the quarter ended March 31, 2026, compared to $4.5 million, or $0.83 per diluted share, in the same period last year.

The 17.2% increase in net income resulted primarily from a 19 basis point reduction in cost of funds and lower non-interest expenses. Return on average assets improved to 1.30% from 1.12% year-over-year, while return on average equity rose to 11.34% from 11.05%.

Net interest margin on a fully taxable equivalent basis expanded to 3.40% from 3.28% in the first quarter of 2025. The efficiency ratio improved to 56.6% from 62.4% in the prior-year period.

President and CEO Glenn W. Rust attributed the results to successful implementation of financial strategies enhancing operating efficiency, along with attention to pricing and asset quality management.

Balance Sheet Metrics

As of March 31, 2026, gross loans outstanding totaled $1.2 billion, a decrease of $4.8 million, or 0.4%, compared to March 31, 2025. The loan-to-deposit ratio stood at 86.7%, up slightly from 86.6% a year earlier.

The company trades on the Nasdaq Stock Market under the ticker VABK and is headquartered in Charlottesville, Virginia.