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Dec 31, 2024
VNB Q4 2024 Earnings Report
Reported a net income increase due to rise in interest income and decline in interest expense.
Key Takeaways
Virginia National Bankshares Corporation reported a net income of $4.6 million, or $0.85 per diluted share, for the quarter ended December 31, 2024. This represents an increase compared to the $3.2 million, or $0.59 per diluted share, recognized in the same quarter of the previous year. Loan balances increased 13% over the prior year.
Net income increased from Q4 2023 due to higher interest income and reduced interest expense.
Loan balances grew by 13% year-over-year.
Credit quality metrics remained strong.
The company focused on loan growth and reducing operating expenses during 2024.