First National's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of First National (FXNC) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: First National vs Its Competitors
- TTM: Trailing 12-month revenue of 91M vs 633,075M combined for tracked competitors (0.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+3.3% annualized vs trailing 12 months), vs accelerating (+11.6%) for its tracked peer group.
- Growth: First National generated 9.5% revenue growth year over year in Q2 2026, vs 30.8% for its tracked competitors combined.
- Profitability: Its 24.4% net margin compares with 31.5% for the peer group.
- Scale: First National ranks #148 of 217 companies by market capitalization in the Regional Banks industry, holding 0.0% of industry market cap.
- Peer revenue share: First National accounted for 0.0% of combined revenue among its tracked peer group, down from 0.0% a year earlier.
- Peer differentiation: Revenue per employee of $0.30M compares with $0.49M for the peer group (0.6x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
FXNC Sales vs. its Competitors, Q2 2026
First National reported revenue growth of 9.51 % year on year in Q2 2026, below its competitors' combined revenue growth of 30.83 %.
With a net margin of 24.36 %, First National reported lower profitability than its competitors (31.47 %).
First National generated 0.01 % of the combined sales of its peer group, down from 0.02 % a year earlier.
First National vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in First National reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across First National and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| First National Corp | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (3) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (10) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across First National's competitor groups requires a Commercial License.
For context: the Regional Banks industry grew revenue 7.8% year over year, combined, vs 9.5% for First National. First National's share of combined industry revenue moved from 0.01% to 0.01%, a gain of 0.00 percentage points.
First National's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| First National Corp | Yes | Yes | Yes | No |
| Competitors combined (93) | ||||
| High-Confidence Competitors (3) | ||||
| Similar-Size Competitors (10) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
FXNC Stock Performance relative to its Competitors
FXNC Stock Performance relative to High-Confidence Competitors
FXNC Stock Performance relative to Similar-Size Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Brookline Bancorp inc | 282.9% | Outperformed |
| 2 | The Bank Of New York Mellon Corporation | 282.9% | Outperformed |
| 3 | Mizuho Financial Group Inc | 282.9% | Outperformed |
| 4 | Primis Financial Corp | 282.9% | Outperformed |
| 5 | National Bankshares Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for First National's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
First National's Comment on Competition and Industry Peers
The Company believes its competitive advantages include long-term customer relationships, local management and directors, a commitment to excellent customer service, dedicated and loyal employees, and the support of and involvement in the communities that the Company serves. The Company focuses on providing products and services to individuals, small to medium-sized businesses and local governmental entities within its communities. The Company’s primary operating subsidiary, First Bank, generally has a strong deposit market share of the markets it serves.
Publicly Traded Peers of First National Corp
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| First National Corp | 272.50 | 91.24 |
| Jpmorgan Chase and Co | 910,100.76 | 186,328.00 |
| Bank Of America Corporation | 375,031.29 | 121,098.00 |
| Wells Fargo and Company | 256,237.16 | 83,940.00 |
| Citigroup inc | 219,691.20 | 88,262.00 |
| Capital one financial corp | 124,282.11 | 51,099.00 |
| SUBTOTAL | 2,737,285.48 | 854,908.93 |
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Sources: First National Corp's official press releases and company reports; CSIMarket.com's market research; and the company reports and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on First National Corp versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
First National's Competitors Named by the Company
Competitive relationships identified from First National reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| First Bancorp Inc | Company report | 85% |
| Ames National Corporation | Company report | 85% |
| First Keystone Corporation | Company report | 85% |
| First Bancorp | Company report | 85% |
| Bank Bradesco | Company report | 85% |
| Financial Institutions Inc | Company report | 85% |
| First Bancorp | Company report | 85% |
| Primis Financial Corp | Company report | 85% |
| First Community Bankshares Inc | Company report | 85% |
| New Peoples Bankshares Inc | Company report | 85% |
| F and m Bank Corp | Company report | 85% |
| Community bankers trust corp | Company report | 85% |
| Huntington Bancshares Incorporated | Company report | 85% |
| Park Sterling Corp | Company report | 85% |
| Comerica Incorporated | Company report | 85% |
| Bay Banks Of Virginia Inc | Company report | 85% |
| Eastern Virginia Bankshares Inc | Company report | 85% |
| Xenith Bankshares, Inc. | Company report | 85% |
| Citizens and Northern Corporation | Company report | 85% |
| Old Line Bancshares Inc | Company report | 85% |
| Wells Fargo and Company | Company report | 85% |
| United Bankshares Inc | Company report | 85% |
| Communityone Bancorp | Company report | 85% |
| Fvcbankcorp Inc | Company report | 85% |
| Monarch Financial Holdings, Inc. | Company report | 85% |
| First Horizon Corp | Company report | 85% |
| Richmond Mutual Bancorporation Inc | Company report | 85% |
| Citigroup inc | Company report | 85% |
| Bnc Bancorp | Company report | 85% |
| Fauquier Bankshares Inc | Company report | 85% |
| John Marshall Bancorp inc | Company report | 85% |
| Regions Financial Corporation | Company report | 85% |
| Skyline Bankshares Inc | Company report | 85% |
| Us Bancorp De | Company report | 85% |
| Atlantic Union Bankshares Corporation | Company report | 85% |
| Citizens Bancorp Of Virginia Inc | Company report | 85% |
| Highlands Bankshares Inc | Company report | 85% |
| Community Trust Bancorp Inc | Company report | 85% |
| Mainstreet Bancshares Inc | Company report | 85% |
| Keycorp | Company report | 85% |
Company report basis, confidence, active dates and source counts for First National's named competitors require a Commercial License.
Methodology: relationships are extracted from First National reports (named-competitor disclosures) and corroborating sources. Confidence reflects evidence strength.
First National's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Citigroup inc | Markets 29.42 % |
| First Citizens Bancshares Inc | Commercial Bank 46.42 % |
| Webster Financial Corporation | Commercial Banking 48.55 % |
| Wesbanco Inc | Community Banking 98.24 % |
| Brc Group Holdings Inc | Reportable 93.26 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
First National's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| First National Corp | 273 | 296,247 | 70,403 |
| Jpmorgan Chase and Co | 910,101 | 584,995 | 200,752 |
| Bank Of America Corporation | 375,031 | 568,535 | 158,005 |
| Wells Fargo and Company | 256,237 | 351,213 | 95,100 |
| Citigroup inc | 219,691 | 390,540 | 72,049 |
| Capital one financial corp | 124,282 | 669,712 | 137,615 |
| PEERS TOTAL | 2,737,013 | 489,799 | 130,760 |
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First National's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Brc Group Holdings Inc | North America 93.52 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
First National's Position in Industry Market Structure
Market-capitalization share and concentration across all 198 companies in First National's industry classification, broader than the peer set above. Market cap in millions of $.First National ranks #148 of 198 companies by market capitalization in its industry, holding 0.04 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 518, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Bank Of Nova Scotia | 112,881 | 14.98 % |
| 2 | Deutsche Bank Aktiengesellschaft | 64,619 | 8.58 % |
| 3 | Ita Unibanco Holding S a | 53,790 | 7.14 % |
| 4 | Fifth Third Bancorp | 46,645 | 6.19 % |
| 5 | State Street Corp | 1,234 | 5.2% |
| 6 | M and t Bank Corporation | 1,234 | 5.2% |
| 7 | Northern Trust Corporation | 1,234 | 5.2% |
| 8 | Citizens Financial Group Inc | 1,234 | 5.2% |
| 9 | First Citizens Bancshares Inc | 1,234 | 5.2% |
| 10 | Bank Bradesco | 1,234 | 5.2% |
| 148 | First National Corp | 273 | 0.04 % |
Market cap and industry share for the rest of First National's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-10-19.
First National's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 143 | First Community Corporation | 308 | 19.50 % |
| 144 | Princeton Bancorp Inc | 301 | 48.07 % |
| 145 | First Western Financial Inc | 293 | 28.36 % |
| 146 | Oak Valley Bancorp | 283 | 26.82 % |
| 147 | Franklin Financial Services Corporation | 1,234 | 12.3% |
| 148 | First National Corp | 273 | 37.15 % |
| 149 | Isabella Bank Corp | 1,234 | 12.3% |
| 150 | Gbank Financial Holdings Inc | 1,234 | 12.3% |
| 151 | Eagle Financial Services Inc | 1,234 | 12.3% |
| 152 | Peoples Bancorp Of North Carolina Inc | 1,234 | 12.3% |
| 153 | First Internet Bancorp | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of First National's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-10-19. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
First National's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Regional Banks industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (2 companies). See the full Regional Banks industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | - | 56.54 % (avg) | - |
| Operating Margin | - | industry median | - |
| EBITDA Margin | 55.90 % | 50.49 % (avg) | +5.4 pp |
| Capital Intensity (Capex / Revenue) | 4.41 % | 2.34 % (avg) | +2.1 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
First National's Valuation vs Competitive Position
Valuation multiples vs the Regional Banks industry average (2 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Regional Banks industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 11.8x | - | - |
| EV / EBITDA | 4.8x | - | - |
| P/B | 1.4x | - | - |
| Return on Equity | 11.57 % | industry aggregate | 0.69 % |
| Return on Invested Capital | - | 4.16 % (avg) | - |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
First National's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 8.14 % | -0.20 % | -3.93 % | 31.66 % | 23.36 % | -12.95 % | 24.33 % | 43.28 % |
| Operating Margin | 34.33 % | 32.66 % | 31.44 % | 28.34 % | 36.82 % | - | - | - |
| Return on Invested Capital | 8.79 % | 7.15 % | 5.91 % | 5.66 % | 2.43 % | 0.79 % | 0.47 % | 5.43 % |
| P/E | 9.3x | 10.6x | 8.8x | 11.9x | 6.6x | 12.5x | 19.8x | 12.1x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
First National's BCG Growth-Share Matrix
Relative market share (vs First National's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
First National falls in the Question Mark quadrant: relative market share of 0.00x vs its largest competitor, in an industry growing revenue 11.9% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
First National's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 518 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 4.41 % vs industry average 2.34 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See First National's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See First National's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
First National's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
First National falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
First National's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+3.3% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.00x).
Opportunities
- Industry revenue growing at a healthy 11.9% median pace.
Threats
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
First National's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| First National Corp | 0.02 | 0.08 | 0.16 |
| Jpmorgan Chase and Co | 0.17 | 0.42 | 1.40 |
| Bank Of America Corporation | 0.09 | 0.52 | 1.25 |
| Wells Fargo and Company | 0.11 | 0.80 | 1.41 |
| Citigroup inc | 0.01 | 0.40 | 1.75 |
| Capital one financial corp | 0.03 | 1.03 | 0.39 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
First National's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| First National Corp | Q2 2026 | +9.5 % | +13.7 % |
| Jpmorgan Chase and Co | Q2 2026 | +30.4 % | +44.0 % |
| Bank Of America Corporation | Q2 2026 | +15.0 % | +27.5 % |
| Wells Fargo and Company | Q2 2026 | +14.2 % | +21.6 % |
| Citigroup inc | Q1 2026 | +14.1 % | +44.6 % |
| Capital one financial corp | Q2 2026 | +1,392.5 % | - |
| PEERS TOTAL | +20.3 % | +50.1 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
First National's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| First National Corp | Q2 2026 | -53.2 % | -27.6 % |
| Jpmorgan Chase and Co | Q2 2026 | -6.4 % | - |
| Bank Of America Corporation | Q2 2026 | - | - |
| Wells Fargo and Company | Q2 2026 | -16.2 % | - |
| Citigroup inc | Q1 2026 | - | -6.7 % |
| Capital one financial corp | Q2 2026 | -73.8 % | -8.0 % |
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First National's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| First National Corp | 1.06% | 3.13% | 11.57% |
| Jpmorgan Chase and Co | 1.35% | 3.71% | 17.50% |
| Bank Of America Corporation | 0.97% | 2.76% | 11.13% |
| Wells Fargo and Company | 1.05% | 2.94% | 12.48% |
| Citigroup inc | 0.61% | 0.65% | 7.62% |
| Capital one financial corp | 1.56% | 3.24% | 9.26% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
First National's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| First National Corp | 12.52 | 2.99 |
| Jpmorgan Chase and Co | 14.22 | 4.88 |
| Bank Of America Corporation | 11.85 | 3.10 |
| Wells Fargo and Company | 12.18 | 3.05 |
| Citigroup inc | 15.39 | 2.49 |
| Capital one financial corp | 11.91 | 2.43 |
| PEERS AVERAGE | 11.99 | 3.20 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.