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Stock impact report

First National Financial Corporation Reports First Quarter 2024 Results [Yahoo! Finance]

First National Corporation (FXNC) 
NASDAQ:AMEX Investor Relations: ir.fbvirginia.com
Company Research Source: Yahoo! Finance
its financial results for the three months ended March 31, 2024 . The Company derives virtually all of its earnings from its wholly owned subsidiary, First National Financial LP ("FNFLP" or "First National"), one of Canada's largest non-bank mortgage originators and underwriters. First Quarter Summary Mortgages Under Administration ("MUA") increased 9% to a record $145.1 billion compared to $133.0 billion at March 31, 2023 Revenue increased 20% to from $432.1 million a year ago Pre-FMV Income increased 5% to from $59.7 million a year ago Net income was $49.9 million $0.82 cents per share) compared to $35.7 million $0.58 cents per share) a year ago Management Commentary "First National translated its business model advantages into positive results for shareholders in the first quarter," said Jason Ellis President and Chief Executive Officer. "On the strength of mortgage servicing and our securitization strategy, we generated solid profitability. The presence of these inco Show less Read more
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