United States

Profile: Virginia National Bankshares Corp (VABK.PK)

VABK.PK on OTC Markets Group

12 Jan 2018
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Virginia National Bankshares Corporation, incorporated on February 21, 2013, is a bank holding company for Virginia National Bank (the Bank). The Bank is engaged in commercial and retail banking business. The Company's segments include the Bank and VNB Wealth Management (VNB Wealth). The Bank's commercial banking activities involve making loans, taking deposits and offering related services to individuals and businesses. The VNB Wealth segment includes investment management, wealth advisory, and trust and estate services offered by VNBTrust. The Bank offers a range of banking and related financial services, including checking accounts, negotiable order of withdrawal (NOW) accounts, money market deposit accounts, certificates of deposit, individual retirement accounts and other depository services. The Bank also offers short to long term commercial, real estate and consumer loans.

The Bank offers other services, including automated teller machines (ATMs), Internet banking, treasury and cash management services and merchant card services. In addition, the Bank is affiliated with Visa, which offers debit cards to consumer and business customers. The Bank serves the Virginia communities in and around the City of Charlottesville, Albemarle County, Orange County and the City of Winchester. The Bank also has a loan production office in Warrenton, Virginia. The Company and its subsidiaries occupy over seven full-service banking facilities in Charlottesville, Winchester, and Albemarle and Orange Counties.

Lending Activities

The Company's loan portfolio includes commercial loans, consumer loans, real estate construction loans, and real estate mortgage loans, including residential, home equity loans and commercial loans. The consumer loans consists of student loans purchased, revolving credit and other fixed payment loans. Its total loans are approximately $423.7 million.

Investment Activities

The Company's investment securities portfolio includes the available for sale securities, such as the United States government agencies, corporate bonds, mortgage-backed securities/collateralized mortgage obligations (CMOs) and municipal bonds. The Company's total investment portfolio is approximately $76.5 million.

Sources of Funds

The Company's primary source of funding represents the depository accounts. The Company offers various deposit services, including demand deposits, interest-bearing checking accounts, money market deposit accounts and time deposits. These deposits have been provided predominantly by individuals, professionals, small businesses and other organizations in the Charlottesville/Albemarle area, the Orange County area, and the Winchester area. Its total deposits are approximately $486.5 million.

Company Address

Virginia National Bankshares Corp

404 People Pl
P: +1434.8177676

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