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Q2 2026 · read from the 30 June 2026 Call Report · United States · Southeast · Virginia, the state note

First Bank

Strasburg, Virginia · $2.07B in assets · beside the 11 other Virginia banks between $1B and $3B

The filing

67.3%
Efficiency
11th of 12
9.4%
Equity / assets
10th of 12
80.6%
Loans / deposits
4th of 12

First Bank is the sixth largest of the 12 Virginia banks nearest its size between $1B and $3B, with $2.07B in assets at 30 June 2026. Loans are 80.6% of deposits, 4th of 12 against a median of 90.5%, and equity is 9.4% of assets, 10th of 12. Loans grew +3.0% in the year, 7th of 12, and deposits grew 0.5%; the cohort's median loan growth is +3.7%.

Noncurrent loans are 0.32% of the book, 6th of 12 against a median of 0.39%; 0.17% is 30 to 89 days past due, and the allowance covers them 3.2 times. Commercial real estate is 40.0% of loans, 5th of 12 against a median of 41.1%, and 283% of capital, below the 300% screen, with construction at 54% against the 100% screen. CRE has grown +81.5% over 36 months, past the guidance's 50% prong.

Return on assets is 1.13%, 7th of 12 against a median of 1.17%, on an efficiency ratio of 67.3%, 11th of 12. Five years ago it was 1.23%. The question is which of these lines moves first over the next four quarters, and against which peer.

The efficiency ratioVA banks $1B to $3B · 30 June 2026 · lower is stronger, listed first
median 60.6% CB Chain Bridge Bank N.A. 40.4% VN Virginia National Bank 44.6% F Fvcbank 48.8% JM John Marshall Bank 49.1% NB National Bank of Blacksburg 59.2% BC Benchmark Community Bank 59.9% OD Old Dominion National Bank 61.4% Bo Bank of Clarke 62.5% MB Mainstreet Bank 65.0% CB Chesapeake Bank 65.8% FB First Bank 67.3% BR Blue Ridge Bank N.A. 89.8%
Loans, year over yearVA banks $1B to $3B · 30 June 2026 · no better direction, largest first
median +3.7% CB Chesapeake Bank +18.5% MB Mainstreet Bank +9.0% OD Old Dominion National Bank +8.2% BC Benchmark Community Bank +7.3% JM John Marshall Bank +5.1% Bo Bank of Clarke +4.4% FB First Bank +3.0% F Fvcbank +1.6% NB National Bank of Blacksburg +0.3% VN Virginia National Bank -0.6% CB Chain Bridge Bank N.A. -4.7% BR Blue Ridge Bank N.A. -6.9%

SBA 7(a), FY2008 to FY2026

First Bank is the 191st largest 7(a) lender into Virginia of 332, with $2M across 10 loans, 0.0% of everything approved in the state (Live Oak Banking Company leads with $669M). 5 of its 5 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Virginia, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Botetourt, VA$838K8th of 213.1%quiet FY2021
Roanoke, VA$756K18th of 391.1%quiet FY2020
Shenandoah, VA$300K12th of 191.2%quiet FY2009
Roanoke City, VA$244K33rd of 400.3%quiet FY2021
Winchester City, VA$100K35th of 380.2%quiet FY2010
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Accommodation & food services3$885K39.5%0.00%1656th of 2,596
Transportation & warehousing3$520K23.2%0.00%967th of 1,563
Retail trade2$433K19.4%0.00%1947th of 2,589
Manufacturing1$300K13.4%0.00%1860th of 2,246
Finance & insurance1$100K4.5%0.00%958th of 1,111
7(a) lenders into Virginia, share of approvals since FY2008332 lenders on record; the ten largest and First Bank
LO Live Oak Banking Company 9.2% $669M · 493 loans TB Truist Bank 6.8% $497M · 1,580 loans WF Wells Fargo Bank National Associa… 5.0% $365M · 1,549 loans AU Atlantic Union Bank 4.0% $294M · 765 loans Ma Manufacturers and Traders Trust C… 3.5% $254M · 1,602 loans TH The Huntington National Bank 3.0% $219M · 454 loans FN First National Bank of Pennsylvan… 2.4% $176M · 195 loans PB Primis Bank 2.4% $175M · 522 loans G Gbank 2.3% $170M · 69 loans TF The First Bank and Trust Company 2.2% $161M · 227 loans FB First Bank 0.0% $2M · 10 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; owner-occupied excluded; bold marks a screen met
First BankRankCohort median
Total CRE against capital, the 300% screen283%7th of 12269%
Construction against capital, the 100% screen54%8th of 1244%
Construction and land development, share of loans7.6%7th of 127.5%
Non-owner-occupied nonfarm nonresidential, share of loans23.6%4th of 1225.4%
Total CRE, the guidance definition, share of loans40.0%5th of 1241.1%
CRE growth over 36 months, the third prong+81.5%12th of 12+15.2%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
John Marshall Bank$2.40B1.2%49.1%0.01%0.01%1.0%100.9%12.3%
Fvcbank$2.36B1.4%48.8%0.59%0.00%1.0%92.3%11.8%
Blue Ridge Bank N.A.$2.31B0.0%89.8%1.68%0.03%1.2%98.0%10.6%
Mainstreet Bank$2.24B0.9%65.0%3.15%0.03%1.0%100.5%12.5%
Chain Bridge Bank N.A.$2.19B1.8%40.4%0.00%0.00%1.4%13.7%8.1%
First Bank$2.07B1.1%67.3%0.32%0.09%1.0%80.6%9.4%
Bank of Clarke$1.85B1.0%62.5%1.07%0.29%1.2%93.9%12.0%
National Bank of Blacksburg$1.83B0.6%59.2%0.06%0.02%1.0%61.4%9.2%
Old Dominion National Bank$1.80B0.8%61.4%0.85%0.26%0.9%91.5%10.7%
Chesapeake Bank$1.72B1.7%65.8%0.24%0.07%1.1%75.0%10.7%
Virginia National Bank$1.64B1.9%44.6%0.47%0.00%0.7%87.5%11.9%
Benchmark Community Bank$1.41B1.6%59.9%0.17%0.02%0.8%89.6%9.4%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
First BankCohort median
20212026Change20212026Change
Loans$617M$1.49B+141%$842M$1.43B+70%
Deposits$929M$1.85B+99%$1.28B$1.75B+37%
NPA / loans0.34%0.32%-0.02 pts0.26%0.39%+0.14 pts
Efficiency65.4%67.3%+1.8 pts64.9%60.6%-4.2 pts
ROA1.23%1.13%-0.10 pts1.18%1.17%-0.02 pts

This read was prepared for First Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on First Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort VA banks $1B to $3B
Institution www.fbvirginia.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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