Company Quick10K Filing
Virginia National Bankshares
10-Q 2020-03-31 Filed 2020-05-11
10-K 2019-12-31 Filed 2020-03-12
10-Q 2019-09-30 Filed 2019-11-08
10-Q 2019-06-30 Filed 2019-08-08
10-Q 2019-03-31 Filed 2019-05-10
10-K 2018-12-31 Filed 2019-03-15
10-Q 2018-09-30 Filed 2018-11-09
10-Q 2018-06-30 Filed 2018-08-08
10-Q 2018-03-31 Filed 2018-05-15
10-K 2017-12-31 Filed 2018-03-27
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-11
10-Q 2017-03-31 Filed 2017-05-12
10-K 2016-12-31 Filed 2017-03-27
10-Q 2016-09-30 Filed 2016-11-14
10-Q 2016-06-30 Filed 2016-08-15
10-Q 2016-03-31 Filed 2016-05-16
10-K 2015-12-31 Filed 2016-03-30
10-Q 2015-09-30 Filed 2015-11-12
10-Q 2015-06-30 Filed 2015-08-14
10-Q 2015-03-31 Filed 2015-05-15
10-K 2014-12-31 Filed 2015-03-30
10-Q 2014-09-30 Filed 2014-11-13
10-Q 2014-06-30 Filed 2014-08-13
10-Q 2014-03-31 Filed 2014-05-14
10-K 2013-12-31 Filed 2014-03-27
8-K 2020-04-28 Earnings, Exhibits
8-K 2020-03-25 Amend Bylaw, Other Events, Exhibits
8-K 2020-01-28 Earnings, Exhibits
8-K 2020-01-15 Officers
8-K 2019-12-13 Other Events, Exhibits
8-K 2019-10-25 Earnings, Exhibits
8-K 2019-09-20 Other Events, Exhibits
8-K 2019-08-08 Earnings, Exhibits
8-K 2019-06-14 Shareholder Vote
8-K 2019-06-13 Regulation FD, Other Events, Exhibits
8-K 2019-04-30 Regulation FD, Exhibits
8-K 2019-04-26 Earnings, Exhibits
8-K 2019-03-21 Other Events, Exhibits
8-K 2019-01-28 Earnings, Exhibits
8-K 2018-12-13 Other Events, Exhibits
8-K 2018-10-22 Earnings, Exhibits
8-K 2018-09-20 Other Events, Exhibits
8-K 2018-07-30 Earnings, Exhibits
8-K 2018-07-05 Other Events, Exhibits
8-K 2018-05-18 Shareholder Vote
8-K 2018-05-17 Other Events, Exhibits
8-K 2018-04-23 Earnings, Exhibits
8-K 2018-04-11 Regulation FD, Exhibits
8-K 2018-03-16 Other Events, Exhibits
8-K 2018-01-23 Earnings, Exhibits

Virginia National Bankshares Financials

VABK Metrics, Comps, Filings

Quarterly | Annual

Business

Virginia National Bankshares Corporation (the "Company") was incorporated under the laws of the Commonwealth of Virginia on February 21, 2013 at the direction of the Board of Directors of Virginia National Bank (the "Bank") for the purpose of acquiring all of the outstanding shares of the Bank and becoming the holding company of the Bank. On June 19, 2013, the shareholders of the Bank approved the Reorganization Agreement and Plan of Share Exchange, dated March 6, 2013, whereby the Bank would reorganize into a holding company structure (the "Reorganization").

Virginia National Bank, the principal operating subsidiary of the Company, was organized in 1998 under federal law as a national banking association to engage in a general commercial and retail banking business. The Bank received its charter from the Office of the Comptroller of the Currency (the “OCC”) and commenced operations on July 29, 1998. The Bank is headquartered in Charlottesville, Virginia. The Bank's deposits are insured up to the maximum amount provided by the Federal Deposit Insurance Act by the Federal Deposit Insurance Corporation (“FDIC”). Prior to July, 2018, the Bank had one wholly owned subsidiary, VNBTrust, National Association (“VNBTrust”), a national trust bank formed in 2007. Effective July 1, 2018, VNBTrust was merged into Virginia National Bank, and the Bank continues to offer investment management, wealth advisory and trust and estate administration services under the name of VNB Wealth Management, also referred to herein as “VNB Wealth”. The Bank is subject to the supervision, examination and regulations of the OCC.

During 2018, the Company changed the structure of its VNB Wealth lines of business. The Company formed Masonry Capital Management, LLC (“Masonry Capital”), a registered investment adviser, to offer investment advisory and management services to clients through separately managed accounts and through one or more private investment fund(s). The Company believes the formation of Masonry Capital will allow the Company to offer its investment strategy to a wider range of clients.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Equity

Income Statement ($MM Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($MM Quarterly)

Ops, Inv, Fin

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
UTG (UTGN) 106,601 0% 4.4 3% 418,871 289,863 35,179 0 13,535 18,338 80,872
Consumer Capital Group (CCGN) 106,115 100% -60.0 -140% 1,266 7,930 228 228 -1,772 -1,767 106,047
Bay Banks of Virginia (BAYK) 104,674 3.9 0% 1,112,219 987,362 0 0 5,056 18,746 73,361
Epsilon Energy (EPSN) 103,584 0% 8.7 7% 95,010 19,649 11,983 0 6,665 9,734 84,837
Juniata Valley Financial (JUVF) 102,429 13.6 1% 667,107 593,321 0 0 5,568 9,850 134,126
F&M Bank (FMBM) 102,135 16.1 0% 813,237 722,344 0 0 2,734 8,653 139,285
Invesco CurrencyShares Australian Dollar Trust (FXA) 100,780 0% -56.1 1% 97,821 32 1,223 0 788 788 -44,220
Zoned Properties (ZDPY) 100,699 0% 277.2 0% 8,204 2,225 941 0 7 368 102,125
Virginia National Bankshares (VABK) 99,658 7.1 1% 660,790 585,236 0 0 5,258 10,047 71,803
Juniper Pharmaceuticals (JNP) 98,834 41% 49.7 -1% 67,768 19,275 55,610 22,712 -985 1,629 80,918
Hash Labs (HLAB) 98,593 -24.3 -2,247% 181 419 0 0 -4,067 -4,048 98,439
Nuvera Communications (NUVR) 98,504 0% 7.1 4% 164,114 84,747 48,592 0 6,727 21,163 151,275
ITUS (ITUS) 98,193 0% -9.7 -142% 6,843 1,044 250 0 -9,708 -9,689 93,796
Capital Properties (CPTP) 97,349 0% 30.3 23% 9,785 1,837 3,907 0 2,261 3,127 94,790
Processa Pharmaceuticals (PCSA) 96,996 -40.0 -24% 10,821 2,151 0 0 -2,583 -2,410 96,491
Addentax Group (ATXG) 96,315 14% -113.5 -15% 5,879 8,162 9,240 1,309 -855 -847 96,046
Eaco (EACO) 95,530 28% 6.2 10% 88,765 40,144 215,534 60,071 9,012 14,872 92,780
Cortland Bancorp (CLDB) 95,237 7.1 1% 700,621 626,468 0 0 5,378 10,511 74,729
ChoiceOne Financial Services (COFS) 94,691 0% 8.1 1% 663,589 578,963 3,629 0 5,973 9,668 78,117
Aerkomm (AKOM) 94,280 1% -11.7 -17% 51,277 3,924 1,600 13 -8,941 -7,810 91,529

Balance Sheet ($'000)2014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash76,84752,01948,41754,10722,18416,52917,46443,52733,64325,11442,02838,50055,6649,59610,29818,2776,90126,5688,76218,87414,60424,79427,855
Accounts Receivable
Inventory
PP&E9,6119,6019,51324,5869,3359,1388,87524,4738,4458,2948,24524,0707,7817,5587,43724,2977,0567,1057,19525,0616,8466,5946,354
Assets533,976506,892508,011537,053543,919530,432548,773567,491555,842545,678569,539605,030638,808614,525610,328643,886625,473654,657626,796644,800635,800633,773660,790
Accounts Payable
Long-Term Debt
Liabilities475,064447,070447,870476,421482,336475,242492,371511,194499,263487,617510,261545,976577,782551,367545,479578,781558,652586,782557,672574,058563,275559,430585,236
Stockholders' Equity58,91259,82260,14160,63261,58355,19056,40256,29756,57958,06159,27859,05461,02663,15864,84965,10566,82167,87569,12470,74272,52574,34375,554
Income Statement ($'000)2014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue
Cost of Revenue
Gross Profit
R&D
SG&A
Tax2,073120941873092913274706066866296818131,200950875850565575286425463
Net Income5064453825654157678391,1001,3551,5101,3961,4871,7352,2591,7451,1542,7962,8832,1601,2462,1151,897
Cash Flow ($'000)2014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating5,415136981-6,3671,4191,0471,6021,8048211,9107572,4491,8392,3274,2061,5383,1512,7131,83154
Cash Investing4,6822,801-5,196-23,098-39,5906,584-17,5982,1022,040-7,407-39,609-16,508-22,563-26,7465,462-10,2719,1939,01212,806-22,109
Cash Financing26,678-27,765613-3506,248-13,28616,931-13,790-11,39022,41135,32431,223-25,34432,398-21,04428,400-30,150-15,995-4,44725,116