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Parent Company Only Financial Statements (Tables)
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Balance Sheets
FIRST NATIONAL CORPORATION
(Parent Company Only)
Balance Sheets
December 31, 2018 and 2017
(in thousands)
 
 
2018
 
2017
Assets
 
 
 
Cash
$
12,257

 
$
9,964

Investment in subsidiaries, at cost, plus undistributed net income
68,357

 
62,094

Other assets
314

 
327

Total assets
$
80,928

 
$
72,385

Liabilities and Shareholders’ Equity
 
 
 
Subordinated debt
$
4,965

 
$
4,948

Junior subordinated debt
9,279

 
9,279

Other liabilities
10

 
4

Total liabilities
$
14,254

 
$
14,231

Preferred stock
$
—

 
$
—

Common stock
6,197

 
6,182

Surplus
7,471

 
7,260

Retained earnings
54,814

 
45,670

Accumulated other comprehensive loss, net
(1,808
)
 
(958
)
Total shareholders’ equity
$
66,674

 
$
58,154

Total liabilities and shareholders’ equity
$
80,928

 
$
72,385
Statements of Income
FIRST NATIONAL CORPORATION
(Parent Company Only)
Statements of Income
Years Ended December 31, 2018 and 2017
(in thousands)
 
 
2018
 
2017
Income
 
 
 
Dividends from subsidiary
$
4,000

 
$
5,500

Other income
—

 
13

Total income
$
4,000

 
$
5,513

Expense
 
 
 
Interest expense
$
757

 
$
663

Marketing
—

 
13

Supplies
3

 
3

Legal and professional fees
143

 
113

Data processing
43

 
62

Management fee-subsidiary
284

 
265

Other expense
8

 
8

Total expense
$
1,238

 
$
1,127

Income before allocated tax benefits and undistributed income of subsidiary
$
2,762

 
$
4,386

Allocated income tax benefit
260

 
379

Income before equity in undistributed income of subsidiary
$
3,022

 
$
4,765

Equity in undistributed income of subsidiary
7,113

 
1,683

Net income
$
10,135

 
$
6,448
Statements of Cash Flows
FIRST NATIONAL CORPORATION
(Parent Company Only)
Statements of Cash Flows
Years Ended December 31, 2018 and 2017
(in thousands)
 
 
2018
 
2017
Cash Flows from Operating Activities
 
 
 
Net income
$
10,135

 
$
6,448

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Equity in undistributed income of subsidiary
(7,113
)
 
(1,683
)
Amortization of debt issuance costs
17

 
18

Decrease (increase) in other assets
13

 
(3
)
Increase (decrease) in other liabilities
6

 
(1
)
Net cash provided by operating activities
$
3,058

 
$
4,779

Cash Flows from Financing Activities
 
 
 
Cash dividends paid on common stock, net of reinvestment
$
(929
)
 
$
(646
)
Net proceeds from issuance of common stock
189

 
141

Repurchase of common stock
(25
)
 
—

Net cash used in financing activities
$
(765
)
 
$
(505
)
Increase in cash and cash equivalents
$
2,293

 
$
4,274

Cash and Cash Equivalents
 
 
 
Beginning
9,964

 
5,690

Ending
$
12,257

 
$
9,964