First Bank (Strasburg, VA)
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Data as of · sourced from FFIEC call reports. How we update
First Bank is an FDIC-insured commercial bank headquartered in Strasburg, VA, established in 1907 (FDIC certificate 6917), and it is supervised by the Federal Reserve. At Q2 2026 it reported total assets of $2.07B, up 1.6% from Q2 2025, the 17th largest of 56 banks headquartered in Virginia. Its CET1 capital ratio was 12.87% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- Federal Reserve
- Deposit insurance
- FDIC
- FDIC certificate
- 6917
- Headquarters
- Strasburg, VA
- Established
- 1907
- Total assets, Q2 2026
- $2.07B
- Assets vs Q2 2025
- +1.6%
- CET1 ratio, Q2 2026
- 12.87%
- Domestic offices
- 33 FDIC institution directory, current count
- Routing number
- 051402589
- Latest call report
- Q2 2026, FFIEC 051 · First Bank call report
- Holding company
- FIRST NATIONAL CORPORATION
- Asset rank in state
- 17th of 56 in Virginia
First Bank, based in Strasburg, Virginia, reported $2.1 billion in assets at June 30, 2026, up 1.6% from a year earlier. It pays an average of 1.06% on its deposits and borrowings, about half the median of 2.01% for the 895 banks with $1 billion to $10 billion in assets. It also grew deposits 0.5% over the year, a small fraction of the median of 5.1% for banks its size.
Problem loans eased: loans on nonaccrual or 90 or more days past due, net of government guarantees, were 0.32% of loans, down from 0.47% a year earlier. Where it has less room is capital: it funds 9.44% of its assets with Tier 1 capital, lower than about three-quarters of banks its size (median 10.52%).
As of June 30, 2026, First Bank reported a CET1 capital ratio of 12.87%, a return on assets of 1.19%, a nonperforming-loan ratio of 0.32% and a Texas ratio of 2.43%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, First Bank is the 17th largest of the 56 banks headquartered in Virginia. Quarter on quarter (Q1 2026 to Q2 2026), its total assets fell 0.1% to $2.07B, loans rose 1.6% and deposits fell 0.5%. Its loan book on June 30, 2026 was led by 1-4 family residential loans, at 35.1% of total loans, followed by non-owner-occupied commercial real estate loans at 23.6%. Its 33 offices in the FDIC Summary of Deposits are in 29 cities across 2 states; its Winchester 2 offices book 16% of its branch deposits. Judged on its Q2 2026 call report, First Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 112 W King St, Strasburg, VA 22657
- County
- Shenandoah
- Charter
- Commercial bank, state charter, Fed member, FRB-supervised
- Primary Regulator
- Federal Reserve
- FDIC Region
- Atlanta (Region 5)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 5, Richmond
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 051
- Established
- July 1, 1907
- Domestic offices
- 33 FDIC institution directory, current count
- Employees (FTE)
- 308
- Domestic deposits
- $1.85B
- Allowance for credit losses
- $14.9M
- Net charge-offs (YTD)
- $647K
- Average total assets
- $2.08B
- Average total loans
- $1.48B
- Average interest-bearing deposits
- $1.50B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 6917
- Fed RSSD
- 899428
- SEC CIK
- 719402 → filed by FIRST NATIONAL CORPORATION
- Website
- www.fbvirginia.com →
- Parent Holding Company
- FIRST NATIONAL CORPORATION (RSSD 1076123) · FXNC
Management
Senior officers at parent holding company, from SEC Form 3/4/5 disclosures
| Name | Role | Title |
|---|---|---|
| Scott C Harvard | CEO | President & CEO |
| Brad E Schwartz | CFO | EVP - CFO |
| Dennis A Dysart | COO | Senior EVP/COO |
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, First Bank's total assets ranged from $1.37B (Q3 2023) to $2.08B (Q1 2026), and it earned a profit in 10 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$2.07B total assets against $2.04B; $1.88B total liabilities against $1.87B.
$1.47B net loans and leases against $1.43B; $1.85B total deposits against $1.84B.
$317.2M securities against $294.1M; $166.1M cash and balances due against $194.3M.
$25.6M total interest income against $25.2M; $5.4M total interest expense against $6.1M.
$20.2M net interest income against $19.1M.
$4.1M total noninterest income against $3.9M; $16.2M total noninterest expense against $14.9M.
$427K provision for credit losses against $912K.
$6.2M net income against $5.6M.
1.19% return on assets against 1.11%; 4.16% net interest margin against 4.00%.
12.87% CET1 capital ratio against 11.81%; 9.44% tier 1 leverage ratio against 8.56%.
Inside the full First Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans are between 200% and 300% of total capital, approaching the 2006 interagency guidance threshold of 300% that triggers heightened supervisory attention. BankRegReports early-warning band below the 300% guidance.
First Bank rankings
Its closest position to the top of a national ranking is 580 of 4,196, for total assets; its furthest is 1,450 of 2,134, for CET1 ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from -0.04% (Q4 2024) to 1.20% (Q3 2025) and its net interest margin ran from 3.44% (Q3 2024) to 4.16% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 12.87% | 1.19% | 0.32% | 2.43% | 4.16% |
| Q1 2026 | 12.73% | 1.09% | 0.30% | 2.34% | 3.96% |
| Q4 2025 | 12.59% | 1.16% | 0.32% | 2.49% | 4.02% |
| Q3 2025 | 12.36% | 1.20% | 0.42% | 3.40% | 3.95% |
| Q2 2025 | 11.81% | 1.11% | 0.47% | 3.99% | 4.00% |
| Q1 2025 | 11.39% | 0.44% | 0.34% | 2.99% | 3.79% |
| Q4 2024 | 11.19% | -0.04% | 0.51% | 4.67% | 3.92% |
| Q3 2024 | 13.04% | 0.67% | 0.60% | 4.57% | 3.44% |
Swipe the table sideways to see every column.
Branch Network
View all 33 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Winchester Financial Center Branch | Winchester , VA | 22601 | $228.2M |
| First Bank (main office) | Strasburg , VA | 22657 | $161.7M |
| South Woodstock Branch | Woodstock , VA | 22664 | $146.2M |
| Front Royal Financial Center Branch | Front Royal , VA | 22630 | $117.4M |
| South Hill Branch | South Hill , VA | 23970 | $91.7M |
| Mt Jackson Financial Center Branch | Mount Jackson , VA | 22842 | $77.6M |
| Winchester West Financial Center Branch | Winchester , VA | 22603 | $75.4M |
| Dinwiddie Branch | Dinwiddie , VA | 23841 | $63.5M |
| Colonial Heights Branch | Colonial Heights , VA | 23834 | $63.1M |
| Daleville Branch | Daleville , VA | 24083 | $62.1M |
| Airport Branch | Petersburg , VA | 23803 | $60.5M |
| Sherando Financial Center Branch | Stephens City , VA | 22655 | $49.4M |
| Matoaca Branch | South Chesterfield , VA | 23803 | $49.3M |
| Fincastle Branch | Fincastle , VA | 24090 | $48.4M |
| Elkton Branch | Elkton , VA | 22827 | $46.5M |
| Waynesboro Branch | Waynesboro , VA | 22980 | $46.3M |
| Staunton Branch | Staunton , VA | 24401 | $45.0M |
| Blue Ridge Branch | Blue Ridge , VA | 24064 | $44.3M |
| Westhampton Branch | Richmond , VA | 23226 | $42.2M |
| Clarksville Branch | Clarksville , VA | 23927 | $33.3M |
| Prince George Branch | Prince George , VA | 23875 | $32.7M |
| Dillwyn Branch | Dillwyn , VA | 23936 | $31.9M |
| Roanoke Rapids Branch | Roanoke Rapids , NC | 27870 | $31.3M |
| Gasburg Branch | Gasburg , VA | 23857 | $30.9M |
| Mckenney Branch | Mc Kenney , VA | 23872 | $30.4M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| October 1, 2024 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| October 1, 2024 | Structure Change | Acquired Touchstone Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| July 1, 2021 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| July 1, 2021 | Structure Change | Acquired The Bank of Fincastle Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 4 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.6% of deposits in VA, rank 23 of 102 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 499 applications, 350 loans originated, $77.0M originated, across 3 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 3 loans, $557K approved, $186K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2021 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about First Bank
What are First Bank's total assets?
As of the Q2 2026 filing, First Bank reported total assets of $2.07 billion in its FFIEC call report.
Where is First Bank headquartered?
It is headquartered in Strasburg, VA, United States.
When was First Bank founded?
It was established in 1907, per the FDIC institution directory.
Is First Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #6917). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates First Bank?
First Bank's primary federal regulator is the Federal Reserve.
What is First Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 12.87% in its Q2 2026 call report, above regulatory requirements.
How many branches does First Bank operate?
It operates 33 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is First Bank's Texas Ratio?
Its Texas Ratio is 2.43% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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