Virginia National Bankshares authorizes up to $18.7 million stock buyback
The Charlottesville-based bank company's repurchase plan runs through Oct. 5, 2027, an SEC filing shows.
CHARLOTTESVILLE - Virginia National Bankshares Corp. (Nasdaq: VABK), which is based in Charlottesville, has authorized buying back up to $18.7 million of its common stock, according to a Form 8-K filed with the U.S. Securities and Exchange Commission on Oct. 8. The company announced the plan Oct. 6, and it runs through Oct. 5, 2027, the filing says.
Repurchases may be made on the open market, in privately negotiated transactions or by other means, with timing and amounts tied to market conditions and corporate needs, according to the filing. The plan does not require the company to buy any set amount of stock and can be extended, changed, suspended or ended at any time, the filing states.
The authorization follows second-quarter results the company reported July 23: net income of $9.0 million, or $1.65 per diluted share, compared with $4.2 million, or 78 cents per share, a year earlier. The company's earnings release attributed the increase partly to a gain on the sale of a limited partnership interest in Bearing Insurance Group, along with lower funding costs and reduced noninterest expense.
Source: Virginia National Bankshares Corp. Form 8-K, filed Oct. 8, 2026 https://www.sec.gov/Archives/edgar/data/1572334/000119312526417432/vabk-20261006.htm