First National Bank

First National Bank is a community bank founded in 1908 and headquartered in Altavista, Virginia, serving individual consumers and small-to-medium businesses across Central and Southern Virginia through 19 branches and one Loan Production Office under publicly-traded parent Pinnacle Bankshares Corporation (NASDAQ: PPBN).

Company typePublic
Founded1908
HeadquartersAltavista, United States
Headcount51–100
GTM typeB2B and B2C
OfferingServices

What First National Bank does

First National Bank is a community banking organization headquartered in Altavista, Virginia, operating since 1908 as a wholly-owned subsidiary of Pinnacle Bankshares Corporation (NASDAQ: PPBN). The bank serves individuals, small and medium businesses, and commercial clients across Central and Southern Virginia through 19 branches and one Loan Production Office, covering the Greater Lynchburg region, the City of Danville, Pittsylvania County, South Boston, and the City of Charlottesville. The institution generated record net income of $10.77 million in full-year 2025 and $3.061 million in Q1 2026, supported by total assets of approximately $1.09 billion and a Q1 2026 net interest margin of 4.12%.

The product portfolio spans deposit products (checking, savings, CDs, money markets, IRAs), consumer lending (auto, personal, mortgage, home equity, credit cards), and a full commercial banking suite including commercial loans, treasury services (ACH Manager, Remote Deposit Capture, Wire Manager, Positive Pay), credit card processing, and business credit cards. Digital channels include Retail Online and Business Online banking, the First Nat Mobile App with Apple Pay, Google Pay, Zelle, and Visa debit integration, Telephone Banking, and TransferNow interbank transfers. Compliance and certifications include FDIC membership, Equal Housing Lender status, and USA PATRIOT Act Section 326 procedures.

The business model relies on net interest income (FY2025: $40.1 million, +13% YoY) supplemented by noninterest income from treasury services fees, credit card processing interchange, and merchant services. Distribution is a hybrid of physical branches and digital channels, with go-to-market focused on local relationship banking, Community Reinvestment Act programs, and the Community Impact Foundation (which has donated over $139,000 to local 501(c)(3) nonprofits since 2018). Recent strategic moves include the May 2026 divestiture of Bearing Insurance Group ($3.8 million pre-tax gain), early $10 million subordinated-debt paydown in September 2025, and the addition of a Chief Operating Officer and Chief Customer Experience Officer to the executive team.

First National Bank firmographics

Firmographics

Name: First National Bank
Legal name: First National Bank
Website: https://1stnatbk.com
Company type: Public
Founded year: 1908
Operating status: Operating
Headcount range: 51–100 employees
Short description: First National Bank is a community bank founded in 1908 and headquartered in Altavista, Virginia, serving individual consumers and small-to-medium businesses across Central and Southern Virginia through 19 branches and one Loan Production Office under publicly-traded parent Pinnacle Bankshares Corporation (NASDAQ: PPBN).
Ownership category
akta.pro rank

First National Bank industry classification

Industry

Product category: Community Banking
NAICS: Commercial Banking (52211)
SIC: National Commercial Banks (6021)
akta.pro primary industry: Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
akta.pro secondary industry: Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

Community banking services
Consumer lending products
Commercial lending solutions
Treasury management services
Retail deposit accounts

Where First National Bank is headquartered

Location

Headquarters

HQ city: Altavista
HQ country: United States
HQ region: North America

Offices8 records

Markets served

First National Bank business model

Business model

GTM type: B2B and B2C
Offering type: Services
Cost components: Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

Net Interest Income: Primary revenue stream from interest earned on loans and securities. Q1 2026 net interest margin of 4.12%, driven by higher average loan volume and increased yields on earning assets. Full-year 2025 net interest income of $40.1 million, up 13% from 2024.
Noninterest Income: Fees from treasury services including credit card processing, commercial online banking, wire transfers, and other banking services. Also includes gains from sale of affiliate investments (Bearing Insurance Group sold for estimated $3.8M pre-tax gain in Q2 2026).

Pricing tiers

Model	Billing	Price
Subscription	Monthly	Community banking products including checking, savings, CDs, IRAs, consumer loans, mortgages, and commercial loans.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

First National Bank product offering

Product offering

Core offering

First National Bank is a community banking organization that provides personal and business deposit products (checking, savings, CDs, money markets, IRAs), lending products (consumer loans, mortgages, home equity, commercial loans), and treasury management services for small and mid-sized businesses. It operates 19 branches and one Loan Production Office across Central and Southern Virginia and serves both individual consumers and local businesses through online, mobile, and in-branch channels.

Product overview

First National Bank operates as a community banking organization offering a comprehensive suite of personal and commercial banking products through a single unified platform. The core product portfolio includes deposit products (checking, savings, CDs, IRAs, money markets), lending products (consumer loans, mortgages, home equity, commercial loans), and payment services (credit cards, debit cards, Zelle, treasury services). Treasury Services represents a distinct business module featuring credit card processing, ACH Manager, Remote Deposit Capture, Wire Manager, and Positive Pay fraud protection. Digital banking services are integrated across all products via online and mobile banking platforms. The bank also offers supplementary services including SecureNow identity protection, overdraft protection, and financial planning tools through its website.

Differentiator

Problem solved

Functional benefit

Products and services

Checking Accounts Personal and business checking account options with online and mobile access, debit cards, and overdraft protection for individual consumers and businesses.
Savings Accounts Personal savings accounts offering competitive interest rates with FDIC insurance protection for individual depositors.
CD/Money Markets Certificate of deposit and money market accounts including the 1st Index product offering flexibility with higher interest rates based on market indices.
IRAs Individual Retirement Accounts including traditional and Roth IRA options for retirement savings.
Consumer Loans Personal lending products including auto loans, personal loans, and other consumer credit facilities.
Mortgages Home mortgage financing products including purchase mortgages and refinancing options for primary residences and second homes.
Home Equity Home equity loans and lines of credit allowing homeowners to borrow against the equity in their homes.
Consumer Credit Card Credit card products for personal use with various rewards and benefits programs.
VISA Check Card Debit card linked to checking accounts with Visa network acceptance worldwide, including digital wallet compatibility.
Online/Mobile Banking Digital banking platform providing 24/7 access to accounts via web and mobile applications with bill pay, transfers, and mobile check deposit.
Business Checking Commercial checking accounts designed for businesses with features including overdraft protection and merchant services.
Business Savings Business savings accounts offering competitive rates for business deposits.
Commercial Loans Business lending products including term loans, lines of credit, and customized financing solutions for commercial clients.
Business Credit Card Credit card products designed for business spending with expense management features.
Treasury Services Comprehensive cash management services for businesses including credit card processing, ACH manager, remote deposit capture, wire manager, and positive pay fraud protection, delivered through the Commercial Online Banking platform.
Dealer Division Auto lending division providing financing solutions for vehicle purchases through dealership partnerships.

Quantifiable outcome

Record Q1 2026 net income of $3,061,000, up 35% year-over-year
+4 more outcomes

Companies that use First National Bank

Customer profile

Named customers1 record

Segments3 records

Ideal customer profiles2 records

First National Bank technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

First National Bank partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

Bearing Insurance Group, LLCminorStrategic or Co-development Partner · 1 May 2026Affiliate company previously owned by First National Bank. Membership interest sold to unaffiliated third party effective May 1, 2026 for estimated $3.8 million pre-tax gain. Previously listed as affiliate under privacy policy disclosures.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

First National Bank competitors and assessment

Company assessment

Direct peers

MainStreet Bank: Northern Virginia community bank offering personal and business banking products comparable to First National Bank, with similar community-bank positioning and SMB focus.
Carter Bank & Trust: Community bank serving Virginia and North Carolina with comparable branch-based retail and small business banking model and overlapping Central/Southern Virginia footprint.
Virginia National Bankshares: Holding company for Virginia National Bank, a Charlottesville-headquartered community bank serving Central and Northern Virginia with similar consumer and commercial banking products.
Blue Ridge Bankshares: Virginia community bank holding company serving Central and Western Virginia with similar consumer, mortgage, and commercial banking services.
Pinnacle Financial Partners: Tennessee-headquartered community bank with similar business model emphasizing relationship banking, commercial lending, and treasury services; comparable operating philosophy and mid-cap community bank scale.
Atlantic Union Bankshares: Virginia-based community/regional bank holding company with similar deposit-taking, commercial lending, and treasury services across Virginia. Closest scale and geographic peer to First National Bank.
TowneBank: Virginia-based community bank holding company offering similar personal and business banking products across Hampton Roads, Greater Richmond, and other Virginia markets.
Primis Bank (formerly Sonabank): Virginia-based community bank with overlapping Central Virginia presence offering consumer deposits, mortgages, and commercial lending comparable to First National Bank's product set.
F&M Bank: Independently owned Virginia community bank serving the Shenandoah Valley and Central Virginia with traditional retail and commercial banking services.

Broad incumbents

Truist Financial: Top-10 US bank with major Virginia presence (Charlotte-based but heavy VA/NC footprint) competing directly in retail deposits, mortgages, and commercial banking across FNB's geographic markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

First National Bank compliance and trust

Trust signal

Compliance3 records

First National Bank financial estimates

Financial estimate

Revenue estimate

Valuation estimate

First National Bank leadership team

Management profile

Number of profiles

Profiles8 records

First National Bank subsidiaries and ownership

Company hierarchy

Subsidiaries2 records

First National Bank funding detail

Funding detail

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

First National Bank M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First National Bank

What does First National Bank do?

Is First National Bank a public or private company?

First National Bank is a public company. It is classified as corporate owned and is currently operating.

When was First National Bank founded?

First National Bank was founded in 1908. It employs 51 to 100 people.

Where is First National Bank based?

First National Bank is headquartered in Altavista, United States, in the North America region.

How does First National Bank make money?

Two revenue lines are on record. Net Interest Income is the primary driver. The others are noninterest Income.

Who are First National Bank's main competitors?

Direct peers on record are MainStreet Bank, Carter Bank & Trust, Virginia National Bankshares, Blue Ridge Bankshares, Pinnacle Financial Partners, Atlantic Union Bankshares, TowneBank, Primis Bank (formerly Sonabank) and F&M Bank. Truist Financial is listed as a broad incumbent.

Does First National Bank have an API?

No public API is recorded for First National Bank.

What industry is First National Bank in?

First National Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAAAI, Small Business Banking (Microbusiness/Sole Proprietor). Its NAICS code is 52211 and its SIC code is 6021.