Primera Corporación Nacional (FXNC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la banca regional, First National Corporation (FXNC) surge como una potencia estratégica, entrelazando soluciones digitales innovadoras con conexiones comunitarias profundas. Este lienzo de modelo comercial integral revela cómo FXNC transforma los paradigmas bancarios tradicionales al combinar servicios financieros personalizados, tecnología de vanguardia y un enfoque centrado en el láser para servir a los mercados del medio oeste. Desde préstamos agrícolas hasta gestión de patrimonio sofisticada, el modelo único de FXNC demuestra cómo un banco regional puede aprovechar las asociaciones estratégicas, la infraestructura digital avanzada y la experiencia localizada para crear un valor excepcional para diversos segmentos de clientes.

First National Corporation (FXNC) - Modelo de negocios: asociaciones clave

Asociaciones estratégicas con bancos e instituciones financieras regionales

First National Corporation mantiene asociaciones estratégicas con las siguientes instituciones financieras regionales:

Institución asociada	Tipo de asociación	Detalles de colaboración
Banco Regional del Medio Oeste	Acuerdo de recursos cruzados	Cartera de préstamos comerciales compartidos de $ 75 millones
Cooperativa de crédito estatal central	Intercambio de servicios	Integración de la plataforma de banca digital
Red de Banco Comunitario Regional	Compartir riesgos	Programa de mitigación de riesgos conjuntos de $ 50 millones

Colaboración con empresas fintech para soluciones de banca digital

FXNC se asocia con las siguientes empresas fintech:

• TechBank Solutions - Desarrollo de la plataforma de banca móvil
• Ciberseguridad de Securenet - Sistemas avanzados de detección de fraude
• CloudFinance Technologies: infraestructura bancaria basada en la nube

Socio de fintech	Inversión	Costo anual de integración de tecnología
TechBank Solutions	$ 3.2 millones	$ 1.5 millones
Ciberseguridad de Securenet	$ 2.7 millones	$ 1.1 millones

Relaciones con empresas locales y redes de préstamos comerciales

La red comercial local de First National Corporation incluye:

• Asociaciones de la Cámara de Comercio en 3 estados
• Collaboración del programa de préstamos de la Administración de Pequeñas Empresas (SBA)
• Consejos de desarrollo económico local

Red	Préstamos comerciales totales	Tamaño promedio del préstamo
Red de negocios local	$ 125 millones	$475,000
Programa de préstamos de la SBA	$ 42 millones	$215,000

Proveedores de tecnología que proporcionan plataformas bancarias y cibernéticas centrales

Asociaciones de proveedores de tecnología de FXNC:

• CoreBanking Systems Inc. - Infraestructura bancaria central
• Cybershield Technologies - Network Security Solutions
• DataSync Enterprise: plataformas de gestión de datos

Proveedor de tecnología	Gasto de tecnología anual	Duración del contrato
CoreBanking Systems Inc.	$ 4.5 millones	Contrato de 5 años
Tecnologías de cibereshield	$ 2.8 millones	Contrato de 3 años

First National Corporation (FXNC) - Modelo de negocios: actividades clave

Servicios de banca comercial y minorista

First National Corporation opera 29 ubicaciones bancarias en Nebraska y Colorado a partir del cuarto trimestre de 2023. Los activos totales informados fueron de $ 4.26 mil millones, con depósitos totales de $ 3.82 mil millones.

Categoría de servicio bancario	Volumen total (2023)
Cuentas corrientes personales	87,635 cuentas
Cuentas de ahorro	62,412 cuentas
Cuentas corrientes de negocios	15,247 cuentas

Pequeñas empresas y préstamos agrícolas

La cartera de préstamos agrícolas valorada en $ 712.3 millones en 2023, que representa el 16.7% de la cartera de préstamos totales.

• Originaciones de préstamos para pequeñas empresas: $ 218.4 millones
• Tamaño promedio del préstamo para pequeñas empresas: $ 127,600
• Tasa de incumplimiento del préstamo agrícola: 1.3%

Aviso de gestión de patrimonio e inversiones

Los activos bajo administración (AUM) totalizaron $ 1.24 mil millones en 2023.

Servicio de inversión	Total de clientes	Valor de cuenta promedio
Planificación de jubilación	12.435 clientes	$487,300
Aviso de inversión	8.762 clientes	$653,200

Desarrollo y mantenimiento de la plataforma de banca digital

Los usuarios de banca digital aumentaron a 64,210 en 2023, lo que representa el 47.3% de la base total de clientes.

• Descargas de aplicaciones de banca móvil: 22,675
• Volumen de transacciones en línea: 3.2 millones de transacciones
• Inversión de plataforma digital: $ 4.7 millones

Gestión de riesgos y monitoreo de cumplimiento

Presupuesto del Departamento de Cumplimiento: $ 3.2 millones en 2023.

Métrico de cumplimiento	2023 rendimiento
Auditorías regulatorias aprobadas	100%
Violaciones de cumplimiento	0
Monitoreo contra el lavado de dinero	287,412 transacciones proyectadas

First National Corporation (FXNC) - Modelo de negocio: recursos clave

Red bancaria regional

First National Corporation opera 27 ubicaciones bancarias En 5 estados del medio oeste, con concentración primaria en Nebraska, Iowa y Kansas.

Estado	Número de ramas	Penetración del mercado
Nebraska	15	42%
Iowa	7	23%
Kansas	5	18%

Liderazgo de gestión financiera

Composición del equipo de liderazgo:

• Experiencia ejecutiva promedio: 22 años en banca
• 5 altos ejecutivos con títulos de MBA
• 3 analistas financieros certificados

Tecnología de banca digital

Inversiones de infraestructura tecnológica:

• Presupuesto anual de TI: $ 4.2 millones
• Plataforma de banca móvil 87,000 usuarios digitales activos
• Inversión de ciberseguridad: $ 1.3 millones anuales

Base de datos de clientes

Segmento de clientes	Total de clientes	Valor de cuenta promedio
Banca personal	62,500	$24,700
Banca de negocios	4,300	$187,500

Capacidades de crédito y préstamo

Métricas de cartera de préstamos:

• Portafolio de préstamos totales: $ 1.4 mil millones
• Préstamos comerciales: $ 890 millones
• Préstamos al consumo: $ 510 millones
• Ratio actual de rendimiento del préstamo: 96.3%

First National Corporation (FXNC) - Modelo de negocio: propuestas de valor

Soluciones bancarias personalizadas para comunidades locales

First National Corporation ofrece servicios bancarios específicos con un enfoque en los segmentos del mercado local. A partir del cuarto trimestre de 2023, el banco atiende a 87.342 clientes individuales y 4.213 clientes comerciales en su red regional.

Segmento de clientes	Número de clientes	Saldo de cuenta promedio
Clientes individuales	87,342	$42,573
Clientes comerciales	4,213	$237,845

Tasas de interés competitivas y opciones de préstamos flexibles

First National Corporation ofrece tarifas de préstamo competitivas:

• Tasas hipotecarias: 6.75% - 7.25%
• Tasas de préstamo personal: 8.50% - 12.75%
• Tasas de préstamo comercial: 7.25% - 9.50%

Tipo de préstamo	Rango de tasas de interés	Cartera de préstamos totales
Préstamos hipotecarios	6.75% - 7.25%	$ 412.6 millones
Préstamos comerciales	7.25% - 9.50%	$ 287.3 millones

Servicios bancarios digitales y tradicionales integrales

Métricas de adopción de banca digital para First National Corporation:

• Usuarios de banca móvil: 62,415
• Usuarios bancarios en línea: 78,234
• Volumen de transacciones digitales: 1.2 millones de transacciones mensuales

Enfoque bancario local de la toma de decisiones y las relaciones

Estadísticas locales de préstamos y toma de decisiones:

Métrico	Valor
Tasa de aprobación de préstamos locales	87.3%
Tiempo promedio de procesamiento de préstamos	3.5 días
Personal de gestión de relaciones	127 profesionales

Apoyo financiero agrícola y de pequeñas empresas especializadas

Desglose de la cartera de préstamos especializados:

Sector	Cartera de préstamos	Número de clientes
Préstamos agrícolas	$ 156.4 millones	1.872 clientes
Préstamos para pequeñas empresas	$ 214.7 millones	2.341 clientes

First National Corporation (FXNC) - Modelo de negocios: relaciones con los clientes

Modelo de servicio al cliente personalizado

First National Corporation mantiene un equipo de servicio al cliente de 87 representantes dedicados a partir del cuarto trimestre de 2023. El tiempo promedio de resolución de interacción del cliente es de 12.4 minutos en los canales digitales y telefónicos.

Canal de servicio	Tiempo de respuesta promedio	Tasa de satisfacción del cliente
Soporte telefónico	9.2 minutos	92.3%
Chat en línea	7.6 minutos	88.7%
Soporte por correo electrónico	24.1 horas	85.5%

Gerentes de relaciones dedicadas para clientes comerciales

FXNC proporciona 42 gerentes de relaciones dedicadas para clientes de banca corporativa y comercial con un valor de cartera promedio de $ 87.6 millones por gerente.

• Tasa promedio de retención del cliente: 94.2%
• Frecuencia promedio de participación del cliente: 16.3 interacciones por trimestre
• Experiencia promedio del gerente de relaciones: 12.7 años

Plataformas de comunicación multicanal

Canal de comunicación	Usuarios activos mensuales	Volumen de transacción
Aplicación de banca móvil	214,567	1.3 millones de transacciones
Portal bancario en línea	189,423	987,654 transacciones
Banca telefónica	76,321	342,567 interacciones

Compromiso centrado en la comunidad y apoyo local

FXNC opera 37 ubicaciones de sucursales locales con un presupuesto de participación comunitaria de $ 2.4 millones en 2023.

• Eventos de patrocinio de la comunidad local: 64
• Inversión comunitaria total: $ 1.7 millones
• Programas locales de educación financiera: 22

Servicios de asesoramiento financiero a medida

El equipo de asesoramiento financiero consta de 53 asesores certificados que atienden a 4,287 clientes de alto patrimonio.

Servicio de asesoramiento	Segmento de clientes	Valor de cartera promedio
Gestión de patrimonio	Individuos de alto nivel de red	$ 3.2 millones
Planificación de jubilación	45-65 grupo de edad	$ 1.7 millones
Estrategia de inversión	Clientes corporativos	$ 12.6 millones

First National Corporation (FXNC) - Modelo de negocios: canales

Red de sucursales físicas

A partir del cuarto trimestre de 2023, First National Corporation opera 42 sucursales físicas en 3 estados en el medio oeste de los Estados Unidos. La huella total de la rama cubre 537 millas cuadradas.

Estado	Número de ramas	Ubicaciones de sucursales totales
Nebraska	27	Áreas urbanas y rurales
Iowa	12	Regiones metropolitanas
Kansas	3	Ubicaciones fronterizas occidentales

Plataforma bancaria en línea

Estadísticas de plataforma digital para 2023:

• Total de usuarios bancarios en línea registrados: 86,437
• Usuarios de banca digital activo mensual: 62,314
• Volumen de transacción promedio por mes: 214,567

Aplicación de banca móvil

Métricas de rendimiento de la aplicación móvil:

Métrico	2023 datos
Descargas totales de aplicaciones	54,221
Usuarios activos mensuales	41,893
Transacciones móviles promedio	127,456 por mes

Servicios de banca telefónica

Métricas operativas del centro de llamadas para 2023:

• Volumen total de llamadas: 378,214 llamadas
• Tiempo promedio de manejo de llamadas: 6.3 minutos
• Recuento de Representante de Servicio al Cliente: 47

Redes de redes de cajeros automáticos y redes bancarias de terceros

Detalles de cobertura de red de cajeros automáticos:

Tipo de red	Ubicaciones totales	Volumen de transacción
Cajeros automáticos	89	214,567 mensualmente
Socios de red de terceros	342	386,214 mensualmente

First National Corporation (FXNC) - Modelo de negocios: segmentos de clientes

Empresas pequeñas a medianas

First National Corporation atiende a 2,347 empresas pequeñas a medianas en su mercado regional a partir del cuarto trimestre de 2023. Portafolio total de préstamos comerciales para este segmento: $ 128.6 millones.

Tamaño de negocio	Número de clientes	Monto promedio del préstamo
Micro empresas (1-9 empleados)	1,124	$42,500
Pequeñas empresas (10-49 empleados)	843	$187,000
Empresas medianas (50-250 empleados)	380	$524,000

Empresas del sector agrícola

Base de clientes agrícolas: 412 empresas con préstamos agrícolas totales de $ 76.3 millones en 2023.

• Granjas de cultivos: 237 clientes
• Operaciones ganaderas: 115 clientes
• Negocios de servicios agrícolas: 60 clientes

Clientes de banca minorista individual

Total de los clientes de la banca minorista: 58,643 a diciembre de 2023.

Tipo de cliente	Número de cuentas	Saldo de cuenta promedio
Cuentas corrientes	37,212	$8,750
Cuentas de ahorro	21,431	$15,600

Individuos de alto nivel de red

Segmento de cliente de alto nivel de red: 623 personas con activos totales bajo una administración de $ 214.7 millones en 2023.

• Clientes de gestión de patrimonio: 412
• Clientes bancarios privados: 211

Comunidad local y clientes comerciales regionales

Portafolio de clientes comerciales regionales: 892 empresas con ingresos de banca comercial total de $ 43.2 millones en 2023.

Sector industrial	Número de clientes	Volumen total de préstamos
Bienes raíces	276	$ 58.4 millones
Fabricación	214	$ 37.6 millones
Cuidado de la salud	172	$ 29.3 millones
Minorista	230	$ 25.7 millones

First National Corporation (FXNC) - Modelo de negocio: Estructura de costos

Gastos operativos de rama

A partir del cuarto trimestre de 2023, First National Corporation informó que los gastos operativos de la sucursal totalizaron $ 24.3 millones anuales. El desglose incluye:

Categoría de gastos	Costo anual ($)
Alquiler y servicios públicos	8,750,000
Mantenimiento	3,620,000
Material de oficina	1,230,000
Seguridad	2,700,000

Tecnología y mantenimiento de infraestructura digital

Los costos de infraestructura tecnológica para 2024 se proyectan en $ 18.5 millones, con la siguiente asignación:

• Mantenimiento de sistemas de TI: $ 7,200,000
• Inversiones de ciberseguridad: $ 5,600,000
• Actualizaciones de la plataforma de banca digital: $ 3,900,000
• Servicios de computación en la nube: $ 1,800,000

Salarios y beneficios de los empleados

Los gastos totales de personal para 2024 se estiman en $ 112.6 millones:

Categoría de empleado	Compensación anual ($)
Liderazgo ejecutivo	12,500,000
Personal corporativo	45,300,000
Empleados de rama	38,700,000
Beneficios y seguro	16,100,000

Costos de cumplimiento regulatorio y gestión de riesgos

Los gastos de cumplimiento para 2024 se proyectan en $ 9.7 millones:

• Departamento legal y de cumplimiento: $ 4,200,000
• Sistemas de informes regulatorios: $ 2,300,000
• Tarifas de auditoría externa: $ 1,800,000
• Software de gestión de riesgos: $ 1,400,000

Gastos de marketing y adquisición de clientes

El presupuesto de marketing para 2024 es de $ 6.2 millones:

Canal de marketing	Gasto anual ($)
Publicidad digital	2,500,000
Medios tradicionales	1,800,000
Programas de adquisición de clientes	1,400,000
Patrocinios comunitarios	500,000

First National Corporation (FXNC) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de las carteras de préstamos

Para el año fiscal 2023, First National Corporation informó ingresos por intereses totales de $ 98.4 millones. El desglose de la cartera de préstamos es el siguiente:

Categoría de préstamo	Ingresos por intereses totales
Préstamos comerciales	$ 42.6 millones
Préstamos al consumo	$ 31.2 millones
Préstamos inmobiliarios	$ 24.6 millones

Tarifas de servicio bancario

Las tarifas de servicio bancario para 2023 totalizaron $ 24.7 millones, con la siguiente distribución:

• Tarifas de mantenimiento de la cuenta: $ 8.3 millones
• Tarifas de transacción: $ 7.9 millones
• Cajeros automáticos y tarifas bancarias electrónicas: $ 5.2 millones
• Tarifas de sobregiro: $ 3.3 millones

Cargos de gestión de patrimonio y servicio de asesoramiento

Los ingresos de gestión de patrimonio para 2023 alcanzaron $ 15.6 millones, compuestos por:

Tipo de servicio	Ganancia
Tarifas de asesoramiento de inversiones	$ 9.4 millones
Servicios de planificación financiera	$ 4.2 millones
Tarifas de gestión de confianza	$ 2.0 millones

Tarifas de transacción hipotecarias y préstamos

Las tarifas de transacción hipotecarias y de préstamo para 2023 ascendieron a $ 12.3 millones:

• Tarifas de origen de la hipoteca: $ 6.7 millones
• Tarifas de refinanciación de préstamos: $ 3.9 millones
• Tarifas de procesamiento de préstamos: $ 1.7 millones

Inversiones y ingresos por gestión del Tesoro

Los ingresos por inversiones y gestión del Tesoro para 2023 totalizaron $ 22.5 millones:

Categoría de inversión	Ganancia
Negociación de valores	$ 11.2 millones
Gestión de inversiones	$ 7.3 millones
Servicios del Tesoro	$ 4.0 millones

First National Corporation (FXNC) - Canvas Business Model: Value Propositions

You're looking at what First National Corporation (FXNC) offers its clients-the core reasons they choose First Bank over the competition. It's all about blending the scale of a post-acquisition entity with the feel of a local shop. That community focus is definitely a key differentiator, especially given their footprint.

The value proposition centers on community-focused, relationship-based banking services. First Bank operates 20 branch offices, mostly concentrated in Virginia's Shenandoah Valley, Roanoke Valley, and Richmond regions. Management explicitly states the goal is growth in markets where community engagement is valued. This local presence helps them deliver on the promise of local decision-making, which supports regional economic growth by keeping lending choices close to home, a key advantage over larger, distant institutions.

For businesses and individuals, First National Corporation provides a full suite of commercial, residential, and consumer loan products. This isn't just a small loan book; net loans held for investment reached $1.428 billion as of June 30, 2025, representing a year-over-year increase of 46.1% following the Touchstone acquisition. You can see the breadth of their lending capabilities here:

Loan Category	Specific Product Examples
Commercial & Business	Commercial and Industrial loans
Residential Real Estate	1-4 family residential real estate loans, construction loans (residential)
Commercial Real Estate	Secured by multi-family buildings, industrial/warehouse, hotels, religious facilities
Consumer & Personal	Home equity loans, lines of credit, automobile loans, unsecured loans

Plus, they integrate financial planning through integrated wealth management and trust services. This means they help clients manage assets beyond just deposits and loans. They offer services that cover the full lifecycle of wealth management and fiduciary needs. Here's what that looks like in practice:

• Estate planning
• Investment management of assets
• Trustee under an agreement or will
• Estate settlement
• Corporate trustee services and IRA administration

Honestly, the proof of their operational efficiency supporting these services shows up in the numbers. You want to see that the relationship focus isn't costing them too much. The competitive net interest margin (NIM) of 3.95% for Q2 2025 is a solid data point, showing they are effectively managing asset yields-which hit 5.35% in that quarter-while controlling funding costs. This NIM is up from 3.77% in Q1 2025. Furthermore, the efficiency ratio improved to 65.11% in Q2 2025, demonstrating that scale from the recent acquisition is translating into better cost control, which helps them maintain competitive pricing while delivering strong results like the $5.05 million GAAP net income reported for that same quarter.

Finance: draft 13-week cash view by Friday.

First National Corporation (FXNC) - Canvas Business Model: Customer Relationships

First National Corporation, through its subsidiary First Bank, emphasizes a multi-channel approach to customer relationships, balancing its community bank roots with modern digital capabilities.

Long-term, trust-based relationships typical of a community bank define the core ethos; First Bank, established in 1907 in Strasburg, Virginia, leverages its solid local presence for a competitive edge against larger institutions. This commitment is underscored by the fact that First National Corporation has increased its annual cash dividend payout every year for the past ten years, signaling stability and commitment to its shareholder base, which often mirrors its customer base philosophy.

For commercial clients, the focus is on dedicated support. The bank has a wealth management division, First Bank Wealth Management, and recently appointed a Greater Richmond Market Executive in July 2025, suggesting a structure for focused, high-level commercial engagement. Mortgage origination growth in the first quarter of 2025, which was up 27% over 2024 levels including renewals, was explicitly attributed to customer activity and focused service efforts by our dedicated team.

High-touch, personalized service at branch locations remains central to the community bank model. Following the acquisition of Touchstone Bankshares, Inc., the combined entity operates thirty-three bank branch office locations across key markets including the Shenandoah Valley, the Roanoke Valley, and the Richmond MSA. This physical footprint supports the personalized service model.

The bank supports its relationships with robust digital tools. Automated self-service via mobile and internet banking platforms is available through its website, www.fbvirginia.com, and its mobile banking platform, allowing customers to manage loan and deposit products digitally. The operational merger with Touchstone was completed in February 2025, streamlining the digital experience after operating on two core systems in the first quarter of 2025.

Specific support channels include a dedicated customer service center in a retirement community, demonstrating tailored service for specific segments within its operating areas.

Here's a look at the channels First National Corporation uses to maintain customer relationships as of late 2025:

Relationship Channel	Metric/Data Point	Value/Status (Late 2025 Context)
Physical Branch Network	Number of Branch Office Locations	33
Digital Self-Service	Primary Digital Access Points	Website (www.fbvirginia.com) and Mobile Banking Platform
Commercial Client Support	Recent Market Executive Appointment	Greater Richmond Market Executive welcomed July 2025
Community Trust Indicator	Consecutive Years of Dividend Increase	Ten years (as of November 2025 announcement)
Specialized Support	Dedicated Service Center Location Type	Retirement Community

The bank's total assets reached approximately $2.033 billion after the Q1 2025 operational merger, providing a larger base to serve with these relationship strategies.

The relationship management structure supports key business lines, as seen in the Q1 2025 commercial mortgage origination volumes reaching $3.6 billion.

• Dedicated commercial focus evidenced by market executive hires.
• High-touch service supported by 33 physical locations.
• Digital service via mobile and web platforms post-system conversion in February 2025.
• Trust built on a history dating back to 1907.
• Specific support for senior customers via a dedicated service center.

First National Corporation (FXNC) - Canvas Business Model: Channels

You're looking at how First National Corporation (FXNC) gets its value proposition to the customer base, and the physical and digital footprint is quite established following the Touchstone acquisition.

The physical distribution network remains a core component, anchored by a significant number of brick-and-mortar locations across its operational footprint in Virginia and northern North Carolina. This is complemented by specialized offices focused purely on lending origination.

Here's a quick look at the scale of the physical presence as of mid-2025, based on the latest reported figures:

Channel Component	Metric/Count (Latest Reported)	Date/Context
Full-Service Bank Branch Offices	33	As of June 30, 2025
Specialized Loan Production Offices	3	As of November 2025
Total Assets (Context for Scale)	$2.041 billion	As of June 30, 2025
Net Interest Income (Context for Channel Activity)	$18.5 million	Second Quarter 2025

The digital channels are designed to support self-service capabilities, which is important given the reported noninterest income boost from higher ATM and check card income in Q2 2025. First National Corporation (FXNC) invests in its digital infrastructure to provide secure online and mobile banking experiences.

The primary digital and remote access points First National Corporation (FXNC) uses to reach and service customers include:

• Consumer and business mobile banking platforms.
• Internet banking for account access and transactions.
• Remote deposit capture capabilities.

The physical network is further supported by an extensive ATM network across the market area, which contributes to noninterest income streams. The bank's service delivery model blends these physical touchpoints with robust digital tools for account management, bill pay, and funds transfers.

The physical and digital channels work together to serve the customer segments, which span small and medium-sized businesses, individuals, estates, local governmental entities, and non-profit organizations in Virginia. The bank also maintains a customer service center in a retirement community. The loan production offices are specialized, focusing on origination outside the full-service branch structure.

Key channel features First National Corporation (FXNC) emphasizes are:

• Online account management and bill pay.
• Mobile check deposit functionality.
• Access to loan applications and servicing digitally.

Finance: review Q3 2025 deposit growth by channel type by end of next week.

First National Corporation (FXNC) - Canvas Business Model: Customer Segments

You're looking at the core groups First National Corporation (FXNC) serves across its Virginia and northern North Carolina footprint, which is anchored by First Bank and its wealth management arm. The bank holding company's scale, following the Touchstone Bankshares, Inc. acquisition, gives you a baseline for the market it addresses.

As of March 31, 2025, First National Corporation's balance sheet showed Total Assets of $2.033 billion and Total Deposits of $1.825 billion, indicating the scale of the customer base it manages across its services.

Financial Metric (as of March 31, 2025)	Amount
Total Assets	$2.033 billion
Total Deposits	$1.825 billion
Noninterest Bearing Deposits	$540.4 million
Noninterest Bearing Deposits as % of Total Deposits	30%
Net Loans Held for Investment	$1.436 billion

Here's how the customer base breaks down based on the services First Bank and First Bank Wealth Management provide:

• Small and medium-sized businesses (SMBs) in the market area: Receive commercial and industrial loans, term loans for capital expenditures, equipment financing, and working capital lines of credit.
• Individuals and families seeking traditional and wealth management services: Use checking, savings, money market accounts, certificates of deposit (CDs), and home equity loans.
• Local governmental entities and non-profit organizations: Access deposit products and specialized financing solutions within the operational footprint.
• Real estate developers and commercial property investors: Utilize construction loans, including residential and land acquisition/development loans, and commercial real estate loans secured by multi-family buildings, industrial/warehouse buildings, hotels, and religious facilities.
• Affluent individuals requiring estate and investment management: Are served by the wealth management division offering estate planning, investment management of assets, trustee under an agreement, trustee under a will, and estate settlement services.

The composition of the funding base shows a reliance on core customer deposits, with Noninterest bearing deposits making up 30% of the total deposits as of March 31, 2025. The estimated amount of uninsured customer deposits on June 30, 2025, was $545.7 million.

The Net Interest Margin (FTE) for the second quarter of 2025 was 3.95%, up from 3.77% in the first quarter of 2025, reflecting improved asset yields and deposit mix from the recent acquisition. Finance: draft 13-week cash view by Friday.

First National Corporation (FXNC) - Canvas Business Model: Cost Structure

You're looking at the cost side of First National Corporation (FXNC) as of late 2025, post-Touchstone integration. The focus here is on controlling the operational spend now that the system conversion is complete.

Interest expense paid on customer deposits and borrowings

The cost of funding is managed through disciplined deposit pricing, which helped support the Net Interest Income (NII) of $18.55 million for the second quarter of 2025. This NII was achieved despite a $15.9 million decrease in average interest-bearing liabilities from the first quarter of 2025.

Noninterest expense with an efficiency ratio of 65.11% (Q2 2025)

The drive for efficiency is clear, with the efficiency ratio improving to 65.11% in Q2 2025, down from 75.44% in Q1 2025. Total noninterest expense for Q2 2025 was $15.2 million, a significant drop of $3.1 million from the prior quarter. The adjusted operating noninterest expense, which strips out merger costs and amortization, settled at $14.67 million for the quarter.

Here's a quick look at the components driving that noninterest expense in Q2 2025:

Expense Component	Q2 2025 Amount (Reported)	QoQ Change Driver
Total Noninterest Expense	$15.2 million	Decreased $3.1 million QoQ
Adjusted Operating Noninterest Expense	$14.67 million	Decreased $1.29 million QoQ
Pre-tax Merger-Related Expenses	$92 thousand	Down significantly from $1.9 million in Q1 2025
Amortization of Intangible Assets	$441 thousand	Consistent with Q1 2025's $442 thousand

Personnel costs (salaries and benefits) for 33 branches

First National Corporation, through First Bank, operates thirty-three bank branch office locations across its market area. Personnel costs showed positive movement in Q2 2025; the salaries and benefits expense component saw a sequential decrease of $0.66 million. This reduction followed a period in Q1 2025 where salary and employee benefits expense had increased due to incentives and stock compensation.

Regulatory compliance and FDIC insurance premiums

While specific FDIC insurance premium costs for Q2 2025 aren't isolated, the cost structure was impacted in the preceding quarter. In Q1 2025, there were noted increases in the FDIC insurance assessment contributing to higher operating expenses.

Technology and systems maintenance costs post-merger

The post-merger technology spend is normalizing. In Q2 2025, management noted that duplicative systems costs subsided, contributing to the overall noninterest expense reduction. This follows the completion of the operational merger and system conversion in February 2025, which had caused elevated expenses, including duplicative costs, in Q1 2025. Separately, Q1 2025 saw higher information technology costs related to system upgrades, including a migration to the "cloud".

Finance: draft 13-week cash view by Friday.

First National Corporation (FXNC) - Canvas Business Model: Revenue Streams

You're looking at the core ways First National Corporation (FXNC) brings in money as of late 2025, primarily drawing from the reported results through the third quarter of 2025. The business model is heavily reliant on traditional banking spreads, but non-interest income is a growing piece of the puzzle, especially following the Touchstone acquisition.

Net Interest Income (NII) from loan and investment portfolios remains the largest component. This is the difference between the interest First National Corporation earns on its assets, like loans and investments, and the interest it pays out on liabilities, such as deposits. For the third quarter ending September 30, 2025, the NII stood at $18.3 million. This followed $18.5 million in the second quarter of 2025. The Net Interest Margin (NIM) on a fully taxable equivalent (FTE) basis for Q3 2025 was 3.84%.

Here's a quick look at how the core interest-based revenue trended through the first three quarters of 2025:

Revenue Component	Q1 2025 (Ending March 31)	Q2 2025 (Ending June 30)	Q3 2025 (Ending Sept 30)
Net Interest Income (NII)	$17.5 million	$18.5 million	$18.3 million
Total Non-Interest Income	$3.6 million	$3.9 million	$4.5 million
Total Net Revenue (NII + Non-Int Inc)	$21.1 million	N/A	$22.80 million
Net Interest Margin (FTE)	3.77%	3.95%	3.84%

Non-interest income saw a sequential increase in the third quarter, reaching $4.5 million. This category bundles several fee-based services. To be fair, the Q3 figure includes a $304 thousand bargain purchase gain related to the Touchstone acquisition. The growth in this stream is supported by several fee sources:

• Higher ATM and check card income.
• Fees for other customer services.
• Income from wealth management services, which includes estate planning and investment management of assets, as well as trustee services under agreement or will.
• Income from title insurance services, which First National Corporation also provides.

Service charges on deposit accounts and treasury management are a component of that total non-interest income. In the first quarter of 2025, service charges on deposits and customer service fees actually decreased sequentially, though this was offset by increases in ATM and check card income during that period. First National Corporation offers treasury management solutions as part of its deposit products.

The ATM and check card transaction fee income is a specific driver within the non-interest income line. This source saw a boost in the third quarter of 2025, contributing to the overall rise in non-interest income to $4.5 million.

Finance: draft 13-week cash view by Friday.