In the Q2, Virginia National Bankshares Corp's corporate clients experienced a reduction by -6.28 % in their costs of revenue, compared to a year ago, sequentially costs of revenue grew by 11.66 %. During the corresponding time, Virginia National Bankshares Corp recorded a revenue increase by 38.61 % year on year, sequentially revenue grew by 32.71 %. While revenue at the Virginia National Bankshares Corp's corporate clients recorded rose by 1.06 % year on year, sequentially revenue grew by 20.16 %.
Customers of Virginia National Bankshares Corp saw their costs of revenue decrease by -6.28 % in Q2 compare to a year ago, sequentially costs of revenue grew by 11.66 %, for the same period Virginia National Bankshares Corp recorded revenue increase by 38.61 % year on year, sequentially revenue grew by 32.71 %.
Virginia National Bankshares's Comment on Sales, Marketing and Customers
The population in the market area served by the Company continues to grow. According
to the U.S. Census Bureau, the total market area served by the Company grew 20.0%
between 2000 and 2010, as compared to 13.0 percent for the Commonwealth of Virginia
as a whole. The Virginia State Demographer (the “VSD’) estimates that,
as of 2015, the population of the Commonwealth had grown by 4.7%, while the population
in the Company’s current markets had grown by 5.7%. By 2020, the VSD expects
Virginia’s population will be 10.1% higher than the 2010 Census totals,
with the population in the Company’s current market area projected to be
15.2% higher than reported by the 2010 Census,
Charlottesville and Albemarle County support a diverse, well-rounded economy.
Stability in the local economy stems from the significant number of persons
employed by a wide variety of employers including the University of Virginia,
large medical and research facilities such as Martha Jefferson and UVA Health
Services, insurance and technology industries, Federal government-based facilities,
and a large number of national retail chains.
The combined populations of the City of Winchester and Frederick County increased
approximately 26.2 percent between April 1, 2000 and April 1, 2010, to a population
of 104,508 persons in 2010.
Virginia National Bankshares’s Comment on Sales, Marketing and Customers
The population in the market area served by the Company continues to grow. According
to the U.S. Census Bureau, the total market area served by the Company grew 20.0%
between 2000 and 2010, as compared to 13.0 percent for the Commonwealth of Virginia
as a whole. The Virginia State Demographer (the “VSD’) estimates that,
as of 2015, the population of the Commonwealth had grown by 4.7%, while the population
in the Company’s current markets had grown by 5.7%. By 2020, the VSD expects
Virginia’s population will be 10.1% higher than the 2010 Census totals,
with the population in the Company’s current market area projected to be
15.2% higher than reported by the 2010 Census,
Charlottesville and Albemarle County support a diverse, well-rounded economy.
Stability in the local economy stems from the significant number of persons
employed by a wide variety of employers including the University of Virginia,
large medical and research facilities such as Martha Jefferson and UVA Health
Services, insurance and technology industries, Federal government-based facilities,
and a large number of national retail chains.
The combined populations of the City of Winchester and Frederick County increased
approximately 26.2 percent between April 1, 2000 and April 1, 2010, to a population
of 104,508 persons in 2010.
Sources:
Virginia National Bankshares Corp’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Virginia National Bankshares Corp’s corporate clients.
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