Virginia National Bankshares Corporation (VABK): Business Model Canvas [Jan-2025 Mis à jour]

Au cœur du paysage financier de Virginia, Virginia National Bankshares Corporation (VABK) apparaît comme une puissance dynamique, tissant stratégiquement les relations locales, les solutions numériques innovantes et les expériences bancaires personnalisées. En fabriquant méticuleusement un modèle d'entreprise qui équilibre les banques traditionnelles axées sur les relations avec des infrastructures technologiques de pointe, VABK s'est positionné comme un acteur distinctif de l'écosystème bancaire régional, offrant des services financiers sur mesure qui résonnent avec de petites entreprises, les particuliers fortunés et les entreprises commerciales locales.

Virginia National Bankshares Corporation (VABK) - Modèle d'entreprise: partenariats clés

Associations commerciales locales et chambres de commerce

Virginia National Bankshares Corporation maintient des partenariats avec les réseaux commerciaux locaux suivants:

Organisation	Emplacement	Détails du partenariat
Chambre de commerce régionale de Roanoke	Roanoke, VA	Réseau de référence commercial
Virginia Bankers Association	Richmond, VA	Conformité et réseautage réglementaires

Fournisseurs de services financiers régionaux

Les principaux partenariats de services financiers comprennent:

• SunTrust Bank (maintenant truist) pour les programmes de prêt régional
• Services marchands de Wells Fargo pour le traitement des paiements
• Visa et MasterCard pour l'intégration du réseau de cartes de crédit

Réseaux immobiliers commerciaux et résidentiels

Réseau de partenariat immobilier:

Partenaire	Type de partenariat	Zone de couverture
Virginia Realtors®	Réseau de référence hypothécaire	Virginie à l'échelle de l'État
Sociétés immobilières commerciales locales	Collaboration des prêts commerciaux	Région de Virginie occidentale

Sociétés de consultation de la gestion de la patrimoine et de l'investissement

Détails du partenariat d'investissement:

• Services financiers Raymond James
• Edward Jones
• Sociétés de conseil financier indépendants locaux

Provideurs de solutions de technologie et de banque numérique

Écosystème de partenariat technologique:

Partenaire technologique	Type de solution	Année de mise en œuvre
Jack Henry & Associés	Logiciel bancaire de base	2019
Finerv	Plateformes bancaires numériques	2021

Virginia National Bankshares Corporation (VABK) - Modèle d'entreprise: activités clés

Services bancaires commerciaux et de détail

Au quatrième trimestre 2023, Virginia National Bankshares Corporation a rapporté:

• Actif total: 1,67 milliard de dollars
• Prêts totaux: 1,28 milliard de dollars
• Dépôts totaux: 1,49 milliard de dollars

Catégorie de service bancaire	Volume total	Valeur de transaction moyenne
Prêts commerciaux	842 millions de dollars	1,2 million de dollars par transaction
Banque de détail	438 millions de dollars	45 000 $ par compte

Origination du prêt et gestion du portefeuille

Répartition du portefeuille de prêts pour 2023:

• Prêts immobiliers commerciaux: 612 millions de dollars
• Prêts commerciaux et industriels: 328 millions de dollars
• Prêts hypothécaires résidentiels: 240 millions de dollars
• Prêts à la consommation: 100 millions de dollars

Offres de produits de dépôt et d'investissement

Type de produit	Volume total	Équilibre moyen
Comptes chèques	412 millions de dollars	$18,500
Comptes d'épargne	298 millions de dollars	$22,300
Comptes de marché monétaire	215 millions de dollars	$45,000

Développement de la plate-forme bancaire numérique

Métriques bancaires numériques pour 2023:

• Utilisateurs de la banque mobile: 62 000
• Transactions bancaires en ligne: 3,2 millions
• Investissement de plate-forme numérique: 4,2 millions de dollars

Gestion des risques et surveillance de la conformité

Métrique de conformité	Performance de 2023
Ratio de capital réglementaire	12.4%
Ratio de prêts non performants	1.2%
Personnel du département de conformité	42 employés

Virginia National Bankshares Corporation (VABK) - Modèle d'entreprise: Ressources clés

Strong régional Banking Network en Virginie

Au quatrième trimestre 2023, Virginia National Bankshares Corporation exploite 24 bureaux bancaires à service complet Situé exclusivement en Virginie:

Région	Nombre de branches
Virginie du Nord	8
Virginie centrale	12
Virginie du sud-ouest	4

Équipe expérimentée des banques et de la gestion financière

Composition de l'équipe de gestion:

• Leadership exécutif total: 7 cadres supérieurs
• Expérience bancaire moyenne: 22 ans par exécutif
• Expérience combinée de l'industrie bancaire: 154 ans

Infrastructure bancaire numérique avancée

Les capacités bancaires numériques comprennent:

Service numérique	Disponibilité
Plateforme de banque mobile	Accès 24/7
Gestion de compte en ligne	100% opérationnel
Capacités de transaction numérique	Pleine fonctionnalité

Systèmes de gestion de la relation client robustes

Métriques de la relation client:

• Base de clientèle totale: 42 500 en décembre 2023
• Taux de rétention de la clientèle: 89,3%
• Pourcentage d'utilisateurs de la banque numérique: 67%

Capital financier substantiel et réserves

Mesures de ressources financières:

Métrique financière	Montant
Actif total	3,2 milliards de dollars
Dépôts totaux	2,8 milliards de dollars
Ratio de capital de niveau 1	13.6%
Total des capitaux propres	385 millions de dollars

Virginia National Bankshares Corporation (VABK) - Modèle d'entreprise: propositions de valeur

Solutions bancaires personnalisées pour les entreprises locales

Au quatrième trimestre 2023, Virginia National Bankshares Corporation a fourni des services bancaires commerciaux spécialisés avec les caractéristiques financières suivantes:

Catégorie de prêts commerciaux	Valeur totale du portefeuille	Taille moyenne du prêt
Prêts immobiliers commerciaux	487,3 millions de dollars	2,4 millions de dollars
Prêts aux petites entreprises	213,6 millions de dollars	$375,000
Commercial & Prêts industriels	329,7 millions de dollars	1,1 million de dollars

Taux d'intérêt concurrentiels et produits financiers

Offres de taux d'intérêt pour les produits bancaires commerciaux et personnels:

• Taux d'intérêt du compte à chèques d'entreprise: 0,25%
• Taux d'intérêt du compte d'épargne d'entreprise: 0,50%
• Taux du marché de l'argent commercial: 1,75%
• Taux de prêt à terme des petites entreprises: 6,25% - 8,50%

Approche du service client axé sur les relations

Métriques d'engagement client pour 2023:

Métrique de service	Performance
Taux de rétention de la clientèle	92.3%
Durée moyenne de la relation client	7,6 ans
Score de satisfaction du client	4.6/5.0

Plateformes de banque numérique et mobile pratique

Statistiques d'utilisation des banques numériques:

• Utilisateurs de la banque mobile: 68 500
• Transactions bancaires en ligne par mois: 412 000
• Taux de téléchargement des applications mobiles: 37 200 en 2023
• Volume de transaction numérique: 1,2 milliard de dollars par an

Services de gestion de patrimoine et d'investissement sur mesure

Répartition du portefeuille de gestion de patrimoine:

Catégorie d'investissement	Total des actifs sous gestion	Valeur moyenne du portefeuille client
Gestion de la richesse personnelle	624,5 millions de dollars	1,3 million de dollars
Services de planification de la retraite	412,7 millions de dollars	$875,000
Avis d'investissement	289,6 millions de dollars	$650,000

Virginia National Bankshares Corporation (VABK) - Modèle d'entreprise: relations clients

Modèle de banque de relations personnelles

Au quatrième trimestre 2023, Virginia National Bankshares Corporation entretient 23 sites bancaires à service complet à travers Virginie. La banque dessert environ 45 000 comptes clients individuels et commerciaux avec une approche bancaire personnalisée.

Segment de clientèle	Nombre de comptes	Type de relation
Banque personnelle	32,500	Service personnalisé à haut toucher
Banque commerciale	12,500	Gestion des relations dédiées

Gestionnaires de relations dédiées

Structure spécialisée de l'équipe bancaire:

• 15 gestionnaires de relations commerciales dédiées
• 22 spécialistes de la relation bancaire personnelle
• Portefeuille de clients moyen par gestionnaire: 175-225 comptes

Assistance bancaire en ligne et mobile

Statistiques de la plate-forme bancaire numérique pour 2023:

Service numérique	Taux d'adoption des utilisateurs	Utilisateurs actifs mensuels
Application bancaire mobile	68%	30,600
Portail bancaire en ligne	72%	33,400

Engagement client axé sur la communauté

Métriques d'engagement communautaire pour 2023:

• Les événements communautaires locaux ont participé: 42
• Programmes de littératie financière: 18
• Commanditaires communautaires: 26

Services de conseil financier proactifs

Détails de l'offre du service consultatif:

Type de service consultatif	Nombre de clients servis	Frais de conseil moyen
Gestion de la richesse	1,250	3 200 $ par an
Planification financière des entreprises	875	4 500 $ par an

Virginia National Bankshares Corporation (VABK) - Modèle d'entreprise: canaux

Réseau de succursale bancaire physique

En 2024, Virginia National Bankshares Corporation exploite 26 succursales bancaires physiques, principalement situées en Virginie.

Type d'emplacement de la succursale	Nombre de branches
Zones urbaines	16
Zones de banlieue	8
Zones rurales	2

Plateforme bancaire en ligne

La plate-forme numérique de la banque prend en charge 99,8% de disponibilité avec les fonctionnalités suivantes:

• Suivi du solde du compte
• Transferts de fonds
• Services de paiement de factures
• Déclarations électroniques

Application bancaire mobile

Métriques d'application mobile	Statistiques
Téléchargements totaux	87,456
Utilisateurs actifs mensuels	52,340
Note de l'App Store	4.6/5

Services bancaires téléphoniques

Centre d'appels de service client Heures de fonctionnement: 7h00 à 21h00 HNE, avec Temps de réponse moyen de 2,5 minutes.

Réseau ATM

Type d'emplacement ATM	Nombre de distributeurs automatiques de billets
ATM appartenant à des banques	42
ATM du réseau partagé	176
Accès ATM total	218

Virginia National Bankshares Corporation (VABK) - Modèle d'entreprise: segments de clients

Petites et moyennes entreprises

En 2024, Virginia National Bankshares Corporation dessert environ 1 250 petites et moyennes entreprises de Virginie. Le portefeuille de prêts commerciaux de la banque pour ce segment est évalué à 312,5 millions de dollars.

Caractéristiques du segment d'entreprise	Nombre total	Taille moyenne du prêt
Entreprises manufacturières	215	$475,000
Entreprises de vente au détail	387	$285,000
Fournisseurs de services	648	$215,000

Entreprises commerciales locales

La banque entretient des relations avec 875 entreprises commerciales locales, les revenus bancaires commerciaux totaux atteignant 47,3 millions de dollars en 2024.

• Concentration géographique: 92% en Virginie
• Volume de transaction annuel moyen: 3,2 millions de dollars par entreprise
• Pénétration des services bancaires commerciaux: 68% du marché cible

Clients bancaires de détail individuels

Virginia National Bankshares Corporation dessert 65 400 clients de banque de détail individuels. Le segment des banques de détail génère 38,7 millions de dollars de revenus annuels.

Groupe d'âge du client	Total des clients	Solde moyen du compte
18-35 ans	12,600	$24,500
36-55 ans	28,750	$87,300
Plus de 56 ans	24,050	$156,200

Individus à haute nette

La banque dessert 1 850 personnes à haute teneur en naissance avec un actif total sous gestion de 624 millions de dollars.

• Valeur du portefeuille individuel moyen: 337 000 $
• Revenus de services de gestion de la patrimoine: 14,6 millions de dollars
• Pénétration des produits d'investissement: 42% du segment cible

Fournisseurs de services professionnels

Virginia National Bankshares Corporation entretient des relations bancaires avec 1 100 prestataires de services professionnels, générant 22,5 millions de dollars en revenus spécialisés de services bancaires.

Catégorie professionnelle	Total des clients	Relation moyenne des banques d'affaires
Professionnels du droit	275	$185,000
Pratiques médicales	412	$265,000
Cabinets de conseil	413	$145,000

Virginia National Bankshares Corporation (VABK) - Modèle d'entreprise: Structure des coûts

Succursale des dépenses opérationnelles

À partir du rapport annuel de 2023, Virginia National Bankshares Corporation a déclaré des dépenses opérationnelles de la succursale totale de 12,4 millions de dollars, ce qui comprend:

Catégorie de dépenses	Montant ($)
Frais d'occupation	4,560,000
Services publics	1,240,000
Entretien	2,350,000
Équipement	4,250,000

Investissements technologiques et infrastructures numériques

L'investissement technologique pour 2023 a totalisé 6,8 millions de dollars, avec la ventilation suivante:

• Systèmes bancaires de base: 3 200 000 $
• Infrastructure de cybersécurité: 1 750 000 $
• Plateformes bancaires numériques: 1 850 000 $

Salaires et avantages sociaux des employés

Dépenses totales d'indemnisation pour 2023:

Catégorie de compensation	Montant ($)
Salaires de base	22,500,000
Bonus de performance	4,750,000
Avantages sociaux	3,650,000
Contributions à la retraite	2,900,000

Coûts de conformité réglementaire

Les dépenses de conformité pour 2023 s'élevaient à 4,3 millions de dollars:

• Conseil juridique et réglementaire: 1 750 000 $
• Logiciel et systèmes de conformité: 1 250 000 $
• Formation et éducation: 850 000 $
• Audit et rapport: 450 000 $

Frais de marketing et d'acquisition des clients

Le budget marketing de 2023 était de 2,9 millions de dollars, alloué comme suit:

Canal de marketing	Montant ($)
Marketing numérique	1,200,000
Publicité médiatique traditionnelle	850,000
Parrainages communautaires	450,000
Campagnes d'acquisition de clients	400,000

Virginia National Bankshares Corporation (VABK) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des portefeuilles de prêts

Pour l'exercice 2023, Virginia National Bankshares Corporation a déclaré un revenu total d'intérêts de 146,3 millions de dollars. La répartition du portefeuille de prêts comprend:

Catégorie de prêt	Montant total ($ m)	Pourcentage de portefeuille
Immobilier commercial	$782.4	42.3%
Commercial & Prêts industriels	$456.7	24.7%
Prêts hypothécaires résidentiels	$412.5	22.3%
Prêts à la consommation	$200.3	10.8%

Frais de service bancaire

Les frais de service bancaire pour 2023 ont totalisé 37,9 millions de dollars, avec la distribution des revenus suivante:

• Frais de maintenance du compte: 15,6 millions de dollars
• Frais de transaction: 12,4 millions de dollars
• Frais de découvert: 6,2 millions de dollars
• Autres frais de service: 3,7 millions de dollars

Commissions d'investissement et de gestion de la patrimoine

Les services d'investissement ont généré 24,6 millions de dollars de commissions pour 2023, segmentés comme suit:

Catégorie de service	Revenus de commission ($ m)
Gestion des actifs	$14.2
Avis financier	$6.8
Services de courtage	$3.6

Revenus des transactions bancaires numériques

Les transactions bancaires numériques en 2023 ont généré 8,7 millions de dollars de revenus, avec la ventilation suivante:

• Transactions bancaires mobiles: 4,3 millions de dollars
• Payage des factures en ligne: 2,1 millions de dollars
• Transferts de fonds électroniques: 1,8 million de dollars
• Traitement des paiements numériques: 0,5 million de dollars

Services de gestion du Trésor

Les services de gestion du Trésor ont contribué 16,4 millions de dollars aux sources de revenus en 2023:

Type de service	Revenus ($ m)
Gestion des espèces	$7.6
Services de verrouillage	$4.2
Services marchands	$2.8
Services de trésorerie internationaux	$1.8

Virginia National Bankshares Corporation (VABK) - Canvas Business Model: Value Propositions

You're looking at the core value delivered by Virginia National Bankshares Corporation (VABK) to its clients, which centers on a blend of personalized, local service and robust financial performance. This isn't just about transactions; it's about providing tailored financial solutions across a defined regional footprint.

Full-Service Commercial and Retail Banking in a Regional Footprint

Virginia National Bankshares Corporation, through its subsidiary Virginia National Bank, offers the full spectrum of banking services. This includes commercial lending, retail deposit accounts, and specialized services like Zelle and Apple Pay integration. The commitment is to the local community, which translates into a value proposition of accessibility and familiarity.

• Full range of services: Checking accounts, NOW accounts, Money Market Deposit Accounts, Time Deposits, and Personal IRAs.
• The organization is the bank holding company for Virginia National Bank, headquartered in Charlottesville, Virginia.
• The Bank received its federal banking charter from the Office of the Comptroller of the Currency on July 29, 1998.

Integrated Wealth Management and Fiduciary Services (VNB Trust)

A key differentiator is the integrated wealth management offering through VNB Trust and Estate Services, a division of VNB. This provides clients with community-based trust, investment, and administration services, working alongside their existing legal and tax professionals. It's important to note the distinction in insurance coverage here; while the Bank's deposits are FDIC insured, Investment Accounts at VNB Trust and Estate Services are explicitly stated as NOT insured or guaranteed by the FDIC or any other federal government agency, and may lose value.

VNB Trust and Estate Services can serve as executor, co-executor, or agent for an executor, offering unbiased loyalty and knowledgeable management of trust assets. The current VNB Trust and Estates Fee Schedule was approved effective April 23, 2025.

Community Bank Focus with Local Decision-Making and Service

The value proposition emphasizes that people, not just brick and mortar, make the bank successful. This local focus supports quicker, more informed decision-making for commercial and retail clients within their operating areas, which include locations in Charlottesville and Warrenton, Virginia.

Strong Profitability Metrics

The operational efficiency and profitability of Virginia National Bankshares Corporation translate directly into stability and confidence for clients and shareholders. For the quarter ended September 30, 2025, the company demonstrated solid performance, with key metrics improving over the previous quarter.

Metric (Q3 2025)	Value	Comparison
Return on Average Assets (ROAA)	1.12%	Improved from 1.05% (Q2 2025)
Return on Average Equity (ROE)	10.48%	Improved from 10.05% (Q2 2025)
Net Interest Margin (FTE)	3.43%	Improved from 3.40% (Q2 2025)
Efficiency Ratio (FTE)	57.9%	Improved from 61.2% (Q2 2025)
Loan-to-Deposit Ratio	89%	Remained stable

The quarterly net income for Q3 2025 was $4.6 million, resulting in diluted earnings per share of $0.84. Net interest income (FTE) for the quarter was $13.072 million (or $13.1 million). Total Liabilities & Shareholders' Equity as of September 30, 2025, stood at $1,622,141 thousand, or approximately $1.622 billion.

Multi-Million-Dollar FDIC Insurance via Insured Cash Sweep (ICS)

For clients with significant cash balances exceeding the standard single-bank FDIC limit of $250,000, Virginia National Bankshares Corporation offers a solution through a third-party Insured Cash Sweep (ICS) plan. This service automates the movement of excess balances into deposit accounts at multiple FDIC-insured banks, providing access to multi-million-dollar FDIC insurance coverage while keeping funds accessible through a single relationship. This addresses the need for high-limit security without sacrificing liquidity.

The company declared a quarterly cash dividend of $0.36 per share on October 22, 2025, representing an annual yield of approximately 3.63% based on the closing price on October 22, 2025.

Virginia National Bankshares Corporation (VABK) - Canvas Business Model: Customer Relationships

Virginia National Bankshares Corporation (VABK) maintains customer relationships rooted in its community bank structure, balancing personal interaction with necessary digital capabilities.

Personal, relationship-driven service model for commercial clients

The service model emphasizes direct, personal interaction for commercial clients, a hallmark of community banking. The total assets managed by Virginia National Bankshares Corporation stood at $0.32 Billion as of September 30, 2025. The company reported a quarterly net income of $0.92 Million for the third quarter of 2025. Gross loans outstanding reached $1.2 billion as of March 31, 2025. This scale supports a relationship-focused approach where commercial bankers know their clients' operations.

Dedicated advisors for wealth management and trust clients

Virginia National Bank offers the fiduciary services of VNB Trust and Estate Services. This specialized service implies dedicated advisory relationships for clients needing trust and estate planning. While specific Assets under Management for VNB Trust are not public, the broader US wealth management market's Financial Advisory segment was expected to see a 4.5% change in assets under management in 2025.

High-touch, community-focused approach in local branches

The high-touch service is physically supported by a network of banking offices. Virginia National Bank has seven banking offices throughout Fauquier and Prince William counties, three banking offices in Charlottesville and Albemarle County, and offices in Winchester and Richmond, Virginia, totaling at least 12 locations. The company employed 146 total employees as of September 30, 2025. This structure supports a community-focused approach, contrasting with the industry trend where 66% of consumers are unlikely to change their primary bank due to satisfaction with products and services.

Automated digital self-service for routine transactions

To support routine needs, Virginia National Bank provides online and mobile banking services for both personal and business customers. This digital component complements the in-person service. Industry-wide, 34% of consumers use a mobile banking app daily as of 2025. Deposit balances held in third-party Insured Cash Sweep (ICS) plans, which facilitate digital management of large deposits, amounted to $177.6 million as of March 31, 2025.

Long-term relationships with local shareholders and founders

The relationship extends to the ownership base, reflecting local investment. The stock symbol is VABK, and as of November 21, 2025, the share price was $39.14. The company declared a quarterly cash dividend of $0.36 per share, representing an annualized dividend of $1.44. The market capitalization was reported at $219.97 million. Institutional owners filed forms indicating holdings of 3,088,832 shares.

The following table summarizes key financial metrics as of mid-to-late 2025, reflecting the scale of the business supporting these customer relationships.

Metric	Value	As of Date/Period
Total Assets	$0.32 Billion	9/30/2025
Gross Loans Outstanding	$1.2 billion	3/31/2025
Net Interest Margin (FTE)	3.28%	Q1 2025
Quarterly Cash Dividend	$0.36 per share	Paid November 28, 2025
Market Capitalization	$219.97 million	Late 2025
Total Employees	146	9/30/2025

The bank emphasizes its local presence through its branch structure:

• Seven banking offices in Fauquier and Prince William counties.
• Three banking offices in Charlottesville and Albemarle County.
• Additional offices in Winchester and Richmond, Virginia.

For wealth management clients, the advisory approach is supported by services including:

• Financial Planning.
• Investment Asset Allocation.
• Estate Planning and Wealth Transfer Planning.

Finance: review the Q4 2025 client retention rate for commercial accounts by Tuesday.

Virginia National Bankshares Corporation (VABK) - Canvas Business Model: Channels

You're mapping out how Virginia National Bankshares Corporation (VABK) gets its services to customers, and honestly, for a regional player, their approach is a solid mix of local presence and digital reach. Here's the breakdown of their delivery mechanisms as of late 2025.

Network of physical banking offices across Virginia

Virginia National Bankshares Corporation operates its physical channel through its wholly-owned subsidiary, Virginia National Bank. The footprint is concentrated in key Virginia markets, providing face-to-face service where they focus their lending and deposit gathering efforts.

Geographic Area/Office Type	Count as of Late 2025
Total Banking Offices	12
Offices in Charlottesville and Albemarle County	4 (including one limited-service banking facility)
Offices in Fauquier and Prince William counties	7
Office in Richmond, Virginia	1
Office in Winchester, Virginia	1

Digital banking platform (online and mobile)

The bank supports its physical network with digital access points, allowing customers to manage their accounts remotely. This is crucial for maintaining service levels across their geographic footprint. You can access these services online at www.vnb.com.

• Online platform for account management.
• Mobile platform for on-the-go banking.
• Remote check deposit capability.

Dedicated wealth and trust offices (Sturman, VNB Trust)

Specialized fiduciary and wealth services are delivered through distinct business lines, which often operate with dedicated teams or offices separate from the core commercial bank branches. These channels focus on fee-based revenue streams, though wealth management fees saw a decrease in Q2 2025.

• VNB Trust and Estate Services: Offers fiduciary services, trust and estate administration, and IRA administration.
• Sturman Wealth Advisors: Provides wealth management and investment advisory services.
• Masonry Capital segment: Offers investment management services for separately managed accounts and a private investment fund.

Direct sales force for commercial and private banking

The Commercial Bank segment relies on direct interaction to originate loans and secure deposits from businesses and individuals. This sales effort encompasses a range of products designed for their regional customer base.

The services pushed through this channel include:

• Commercial loans.
• Residential and commercial real estate mortgages.
• Construction financing.
• Treasury management and merchant services for businesses.

ATMs and debit/credit card networks

While specific figures on ATM locations or network volume aren't public in the latest reports, access to cash and payment processing is standard through participation in major card networks. The bank offers debit and credit card services as part of its consumer offerings.

Finance: draft 13-week cash view by Friday.

Virginia National Bankshares Corporation (VABK) - Canvas Business Model: Customer Segments

Virginia National Bankshares Corporation serves distinct customer groups through its wholly-owned subsidiary, Virginia National Bank, and specialized segments like VNB Trust and Estate Services, Sturman Wealth Advisors, and Masonry Capital.

Individuals seeking retail banking and deposit products

This segment relies on traditional and digital banking services for their day-to-day financial needs across Virginia National Bank's offices, particularly in Northern Virginia, Fairfax, Loudoun, and Prince William counties.

• Offerings include checking accounts, savings accounts, money market accounts, and Certificates of Deposit (CDs).
• Digital banking solutions allow customers to manage accounts, transfer funds, pay bills, and deposit checks remotely.
• The company declared a quarterly cash dividend of $0.36 per share for the third quarter of 2025.

Small to mid-sized businesses needing commercial loans and cash management

Virginia National Bank focuses on making loans and taking deposits from businesses, supporting them with treasury management and merchant services to optimize cash flow.

Metric	Amount as of Q3 2025
Gross Loans Outstanding	$1.2 billion
Loan-to-Deposit Ratio	89%
Deposit Balance Change (vs. Dec 31, 2024)	Decreased $38.7 million

High-net-worth individuals for wealth and fiduciary services

Wealth and fiduciary services are delivered through VNB Trust and Estate Services, Sturman Wealth Advisors, and Masonry Capital, catering to more complex financial planning needs.

• Services include fiduciary account administration, investment advisory solutions, and retirement planning.
• Masonry wealth management fees were a component of noninterest income in prior periods.

Charitable organizations and non-profits

Charitable organizations are served by the Bank's commercial banking activities, which involve taking deposits and offering related services.

The Bank offers a full range of banking and related financial services to meet the needs of charitable organizations.

Real estate developers and investors (as a loan focus)

The lending portfolio includes commercial real estate mortgages and construction financing, directly serving developers and investors in the regional footprint.

Gross loans outstanding as of September 30, 2025, totaled $1.2 billion, which reflects the overall lending activity across all categories, including real estate.

Virginia National Bankshares Corporation (VABK) - Canvas Business Model: Cost Structure

You're looking at the cost side of the ledger for Virginia National Bankshares Corporation as of late 2025. For a bank, managing the cost of funds and operating expenses is where the real margin work happens, so let's break down the numbers from the third quarter of 2025.

Interest Expense on Deposits and Borrowings, a Key Focus for Reduction

Virginia National Bankshares Corporation has been actively managing its cost of funds, which directly impacts interest expense. For the three months ended September 30, 2025, the overall cost of funds, including noninterest-bearing deposits, was 177 bps, a decrease of 30 bps from the 207 bps reported in the same period of the prior year. This focus on reduction helped drive net interest income for the third quarter of 2025 up by $1.0 million, or 8.7%, compared to the third quarter of 2024, primarily due to this decreased interest expense. Specifically, the cost of interest-bearing deposits fell significantly, moving from a cost of 2.71% in Q3 2024 to 2.26% in Q3 2025. The cost of borrowings from the FHLB also saw a slight dip, decreasing 9 bps year-over-year, from 4.86% to 4.77%.

Non-interest Operating Expenses (Salaries, Occupancy, Technology)

Noninterest expense for the three months ended September 30, 2025, saw an increase of $461 thousand, or 5.8%, when compared to the same period in 2024. This rise reflects ongoing operational costs and investments. The efficiency ratio (FTE) improved to 57.9% for the third quarter of 2025, down from 61.2% in the second quarter of 2025, showing better operational leverage overall. Noninterest income, however, decreased by $101 thousand, or 7.0%, year-over-year for the quarter.

Here's a look at the expense movement:

Metric	Q3 2025 Amount/Ratio	Q3 2024 Amount/Ratio	Year-over-Year Change (Q3 2025 vs Q3 2024)
Noninterest Expense Change	N/A	N/A	Increase of $461 thousand (5.8%)
Efficiency Ratio (FTE)	57.9%	N/A (Q3 2024 was 58.6% for year-to-date comparison)	Improvement
Non-accruing Loans to Gross Loans	0.21%	0.21%	Stable
Net Charge-offs (Recoveries) to Average Loans	0.03%	0.02%	Increase

Provision for Credit Losses

Credit quality metrics remain a key area of focus. Nonperforming assets were reported at $6.8 million in Q3 2025. The ratio of non-accruing loans to gross loans stood at 0.21% for the third quarter of 2025, which was the same as the third quarter of 2024. Net charge-offs (recoveries) to average loans was 0.03% for the quarter. Furthermore, the company recorded a $78 thousand charge related to changes in unfunded reserves during the quarter.

Amortization of Core Deposit Intangible Asset

While a specific dollar amount for Virginia National Bankshares Corporation's amortization of the core deposit intangible asset for Q3 2025 isn't explicitly detailed in the available summaries, industry practice suggests a consistent approach. Based on analyzed acquisition data, a majority of banks selected a ten-year amortization term for these values. Regarding the method, an accelerated amortization method, such as the sum-of-the-years digits method, was selected in approximately two-thirds of recent transactions where data was available.

Regulatory Compliance and Technology Costs

These specific costs are embedded within the overall noninterest expense, but the drivers for the recent increase are clear. The higher noninterest expense in Q3 2025 was explicitly attributed to several factors, including:

• Increased franchise taxes.
• Higher FDIC insurance expense.
• Increased professional fees.
• Continued investments in information technology.

These are the direct cost inputs reflecting the current regulatory and operational environment for Virginia National Bankshares Corporation.

Virginia National Bankshares Corporation (VABK) - Canvas Business Model: Revenue Streams

You're looking at how Virginia National Bankshares Corporation (VABK) actually brings in the money, which for a bank like this, boils down to the spread between what it earns on assets and what it pays on liabilities, plus fees for services. It's all about managing that interest rate risk and driving fee-based income.

Net Interest Income (NII) from loans and securities forms the bedrock of Virginia National Bankshares Corporation's revenue. This is the core banking activity. For the three months ended September 30, 2025, the Net Interest Income (NII) was reported at $13.1 million. This was supported by a gross loan balance of $1.2 billion as of September 30, 2025. The management has been actively working to improve the profitability of this core function; the Net Interest Margin (FTE, a non-GAAP measure) for the third quarter of 2025 improved to 3.43%, up from 3.24% in the third quarter of 2024. Honestly, the key driver here was managing the cost side, as the overall cost of funds declined by 30 bps year-over-year, even while the yield on loans settled at 5.64% for the quarter. The loan portfolio generates this income through various products:

• Commercial loans
• Business lines of credit
• Residential and commercial real estate mortgages
• Construction financing
• Consumer installment loans

The overall financial performance reflects this focus. For the first nine months of 2025, Virginia National Bankshares Corporation recognized net income of $13.3 million. This is a solid number, showing improvement over the prior year's nine-month net income of $12.4 million, primarily due to that decreased interest expense.

We can map out the key financial results and operational metrics that feed into the revenue picture here:

Metric	Value (Q3 2025 or 9M 2025)	Context/Period
Net Income	$13.3 million	Nine months ended September 30, 2025
Revenue (TTM)	$56.6 million	Trailing twelve months to Q3 2025
Net Interest Income	$13.1 million	Three months ended September 30, 2025
Net Interest Margin (FTE)	3.43%	Three months ended September 30, 2025
Loan Yield	5.64%	Three months ended September 30, 2025

Non-interest income from wealth management and fiduciary fees provides diversification away from pure lending margins. Virginia National Bankshares Corporation structures this through specialized services. This revenue stream saw a decrease in the third quarter of 2025 compared to the prior year's third quarter, but it remains a crucial part of the overall revenue mix. The services supporting this include:

• VNB Trust and Estate Services
• Sturman Wealth Advisors

Fees from deposit accounts and transaction services capture revenue from the operational side of banking relationships. These fees come from the day-to-day interactions customers have with the bank, which helps keep the efficiency ratio in check; the efficiency ratio (FTE) improved to 57.9% for the three months ended September 30, 2025. The services generating these fees include:

• Treasury management for businesses
• Merchant services for payment processing
• Fees associated with deposit accounts

To be defintely clear on the top line, the Revenue for the trailing twelve months (TTM) to Q3 2025 was reported at $56.6 million. That's the total top-line figure you need to anchor your valuation models against.