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Jun 30, 2020
VNB Q2 2020 Earnings Report
Reported second quarter results with increased net income and earnings per share.
Key Takeaways
Virginia National Bankshares Corporation reported a strong second quarter with a 49% increase in net income compared to the preceding quarter. The company's financial position remains solid, supported by strong credit standards and a focus on customer and employee needs during the pandemic.
Net income was $2.1 million, or $0.77 per diluted share, consistent with the second quarter of 2019.
Gross loans outstanding totaled $632.4 million, an increase of $110.6 million compared to June 30, 2019.
The balance of loans in non-accrual status decreased to $11 thousand as of June 30, 2020.
Second quarter net interest income increased $294 thousand, or 5.4%, compared to the second quarter of 2019.
VNB
VNB
VNB Revenue by Segment
Revenue by Segment
Loans, including fees Revenue
CapyFin.comFederal funds sold Revenue
CapyFin.comInvestment securities: Taxable Revenue
CapyFin.comInvestment securities: Tax exempt Revenue
CapyFin.comDividends Revenue
CapyFin.com Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income