First National Corporation announced unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net interest income was $4.805 million against $4.549 million a year ago. Total interest income was $5.214 million against $5.093 million a year ago. Income before income taxes was $5.533 million against $3.038 million a year ago. Net income available to common shareholders
was $3.368 million or $0.68 basic and diluted per share against $7.162 million or $1.46 basic and diluted per share a year ago. As on date, book value per share was $9.17 against $7.96 per share a year ago. Return on average assets was 2.81% against 5.55% a year ago. Return on average equity was 25.03% against 62.96% a year ago.

For the year, the company reported net interest income was $18.621 million against $18.448 million a year ago. Total interest and dividend income was $20.399 million against $21.157 million a year ago. Income before income taxes was $11.13 million against $5.054 million a year ago. Net income available to common shareholders was $6.493 million or $1.32 basic and diluted per share against $8.961 million or $1.83 basic and diluted per share a year ago. Return on average assets was 1.45% against 1.85% a year ago. Return on average equity was 13.49% against 21.87% a year ago.

For the quarter, the company reported net charge-offs of $0.151 million against $1.719 million a year ago.