First Bank Hires W. Todd Ross as Roanoke Valley Market President

STRASBURG, Va., April 24, 2023 (GLOBE NEWSWIRE) -- First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the bank holding company of First Bank (the “Bank”), announced today that W. Todd Ross has been hired as Market President for the Roanoke Valley Region. Todd will be responsible for all lines of business banking, and business development, while partnering with other core functions such as retail, treasury, and mortgage banking.

“Todd’s experience clearly aligns with our culture and strategic commitment to growth in the Roanoke Valley Region, including Botetourt and Roanoke Counties, as well as Roanoke and Salem proper,” said Scott C. Harvard, CEO of First National Corporation and First Bank.

Todd has over 30 years of banking experience in the Roanoke Valley Region, including leadership and production roles with several regional and local banks. He maintains deep relationships with commercial customers throughout the region with a focus on responsive, high-quality service. Todd has a collaborative approach to meeting the loan, deposit and treasury services needs of the market. He has a B.S. in Finance from James Madison University and a Masters in Business Administration from Virginia Tech. Lastly, Todd continues to serve the community on a number of non-profit and municipal boards and commissions.

Mr. Ross will lead First Bank’s strategic efforts in the market, following the 2021 merger with the former Bank of Fincastle, including plans to expand in the Roanoke market. “As a lifelong Roanoke native, I am excited about the opportunity to provide true community banking throughout the area. As a Virginia based financial institution, First Bank understands what is important to our current customers and is eager to share those values with new customers.” Ross stated. “While the banking industry in Roanoke is very strong and competitive, we feel the flexibility and efficiency that we provide are key aspects of how we do business. Our team of retail and commercial banking specialists are focused on delivering banking services with a personal touch and a commitment to service. I truly believe in the Bank’s philosophy of there’s power in one. One banker; one customer; one smile; one kind gesture can all make a huge difference in our lives and our community.”

Todd and the Roanoke Valley team stand prepared to meet the banking needs of small businesses, corporations, real estate investors, individuals, municipalities and non-profits alike. Harvard added, “We’re excited for the opportunity to build our banking company in Roanoke with Todd and our legacy team.”

ABOUT FIRST NATIONAL CORPORATION

First National Corporation (NASDAQ: FXNC) is the parent company and bank holding company of First Bank, a community bank that first opened for business in 1907 in Strasburg, Virginia. The Bank offers loan and deposit products and services through its website, www.fbvirginia.com, its mobile banking platform, a network of ATMs located throughout its market area, a loan production office, two customer service centers in retirement communities, and 20 bank branch office locations located throughout the Shenandoah Valley, the central regions of Virginia, the Roanoke Valley, and in the city of Richmond. In addition to providing traditional banking services, the Bank operates a wealth management division under the name First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc., which owns an interest in an entity that provides title insurance services.

FORWARD-LOOKING STATEMENTS

Certain information contained in this discussion may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to the Company’s future operations and are generally identified by phrases such as “the Company expects,” “the Company believes” or words of similar import. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reliable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results, performance, or achievements of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including the rapidly changing uncertainties related to the COVID-19 pandemic and its potential adverse effect on the economy, our employees and customers, and our financial performance. For details on other factors that could affect expectations, see the risk factors and other cautionary language included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and other filings with the Securities and Exchange Commission.

CONTACTS

Scott C. Harvard	Dennis A. Dysart
President and CEO	Sr. Executive Vice President and COO
(540) 465-9121	(540) 465-9121
sharvard@fbvirginia.com	ddysart@fbvirginia.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f76b6daa-c450-4684-bcea-20933890dded