XML 68 R52.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Parent Company Only Financial Statements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Balance Sheets | FIRST NATIONAL CORPORATION (Parent Company Only) Balance Sheets December 31, 2016 and 2015 (in thousands)
|  | 2016 |  |  | 2015 |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 5,690 |  |  | $ | 4,412 |
Investment in subsidiaries, at cost, plus undistributed net income |  |  | 60,344 |  |  |  | 55,334 |
Other assets |  |  | 335 |  |  |  | 408 |
Total assets |  | $ | 66,369 |  |  | $ | 60,154 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |
Subordinated debt |  | $ | 4,930 |  |  | $ | 4,913 |
Junior subordinated debt |  |  | 9,279 |  |  |  | 9,279 |
Other liabilities |  |  | 9 |  |  |  | 9 |
Total liabilities |  | $ | 14,218 |  |  | $ | 14,201 |
Preferred stock |  | $ | — |  |  | $ | — |
Common stock |  |  | 6,162 |  |  |  | 6,145 |
Surplus |  |  | 7,093 |  |  |  | 6,956 |
Retained earnings |  |  | 39,756 |  |  |  | 34,440 |
Accumulated other comprehensive loss, net |  |  | (860 | ) |  |  | (1,588 | )
Total shareholders’ equity |  | $ | 52,151 |  |  | $ | 45,953 |
Total liabilities and shareholders’ equity |  | $ | 66,369 |  |  | $ | 60,154 |
Statements of Income | FIRST NATIONAL CORPORATION (Parent Company Only) Statements of Income Years Ended December 31, 2016 and 2015 (in thousands)
|  | 2016 |  |  | 2015 |
Income |  |  |  |  |  |  |  |
Dividends from subsidiary |  | $ | 2,325 |  |  | $ | 13,500 |
Total income |  | $ | 2,325 |  |  | $ | 13,500 |
Expense |  |  |  |  |  |  |  |
Interest expense |  | $ | 620 |  |  | $ | 286 |
Supplies |  |  | 2 |  |  |  | 17 |
Legal and professional fees |  |  | 104 |  |  |  | 78 |
Data processing |  |  | 61 |  |  |  | 60 |
Management fee-subsidiary |  |  | 258 |  |  |  | 250 |
Other expense |  |  | 17 |  |  |  | 21 |
Total expense |  | $ | 1,062 |  |  | $ | 712 |
Income before allocated tax benefits and undistributed income of subsidiary |  | $ | 1,263 |  |  | $ | 12,788 |
Allocated income tax benefit |  |  | 361 |  |  |  | 242 |
Income before equity in undistributed income of subsidiary |  | $ | 1,624 |  |  | $ | 13,030 |
Equity in undistributed (distributed) income of subsidiary |  |  | 4,283 |  |  |  | (10,375 | )
Net income |  | $ | 5,907 |  |  | $ | 2,655 |
Effective dividend on preferred stock |  |  | — |  |  |  | 1,113 |
Net income available to common shareholders |  | $ | 5,907 |  |  | $ | 1,542 |
Statements of Cash Flows | FIRST NATIONAL CORPORATION (Parent Company Only) Statements of Cash Flows Years Ended December 31, 2016 and 2015 (in thousands)
|  | 2016 |  |  | 2015 |
Cash Flows from Operating Activities |  |  |  |  |  |  |  |
Net income |  | $ | 5,907 |  |  | $ | 2,655 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |
Equity in undistributed (income) loss of subsidiary |  |  | (4,283 | ) |  |  | 10,375 |
Amortization of debt issuance costs |  |  | 17 |  |  |  | 3 |
Decrease in other assets |  |  | 74 |  |  |  | 279 |
Increase in other liabilities |  |  | — |  |  |  | 1 |
Net cash provided by operating activities |  | $ | 1,715 |  |  | $ | 13,313 |
Cash Flows from Financing Activities |  |  |  |  |  |  |  |
Proceeds from subordinated debt, net of issuance costs |  | $ | — |  |  | $ | 4,910 |
Cash dividends paid on common stock, net of reinvestment |  |  | (550 | ) |  |  | (454 | )
Cash dividends paid on preferred stock |  |  | — |  |  |  | (1,281 | )
Net proceeds from issuance of common stock |  |  | 113 |  |  |  | 99 |
Repurchase of common stock |  |  | — |  |  |  | (1 | )
Redemption of preferred stock |  |  | — |  |  |  | (14,595 | )
Net cash used in financing activities |  | $ | (437 | ) |  | $ | (11,322 | )
Increase in cash and cash equivalents |  | $ | 1,278 |  |  | $ | 1,991 |
Cash and Cash Equivalents |  |  |  |  |  |  |  |
Beginning |  |  | 4,412 |  |  |  | 2,421 |
Ending |  | $ | 5,690 |  |  | $ | 4,412 |

X
- Definition Schedule of condensed balance sheets of parent company. + References No definition available. + Details
Name: | fxnc_ScheduleOfCondensedBalanceSheetsOfParentCompanyTableTextBlock
Namespace Prefix: | fxnc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of condensed statement of operations of parent company. + References No definition available. + Details
Name: | fxnc_ScheduleOfCondensedStatementOfOperationsOfParentCompanyTableTextBlock
Namespace Prefix: | fxnc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of condensed statements of cash flows of parent company. + References No definition available. + Details
Name: | fxnc_ScheduleOfCondensedStatementsOfCashFlowsOfParentCompanyTableTextBlock
Namespace Prefix: | fxnc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration