Revenue during the quarter grew 3.13 percent to $8.04 million from $7.80 million in the previous year period. Net interest income for the quarter rose 5.63 percent over the prior year period to $5.91 million. Non-interest income for the quarter fell 3.23 percent over the last year period to $2.13 million.

Net interest margin improved 7 basis points to 3.60 percent in the quarter from 3.53 percent in the last year period. Efficiency ratio for the quarter improved to 67.17 percent from 78.42 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.

"Since closing on the branch deposit acquisition in the second quarter of 2015, our banking team has successfully executed on two primary drivers of value of the transaction," said Scott Harvard, president and chief executive officer of First National. Harvard added, "The first driver was to deploy the newly acquired funds into loans. Loans, net of the allowance for loan losses, increased by $47.3 million during 2016, which followed total loan growth of $61.8 million in 2015.

Deposits stood at $645.57 million as on Dec. 31, 2016, up 2.94 percent compared with $627.12 million on Dec. 31, 2015.

Noninterest-bearing deposit liabilities were $168.08 million or 26.04 percent of total deposits on Dec. 31, 2016, compared with $157.07 million or 25.05 percent of total deposits on Dec. 31, 2015.

Investments stood at $148.20 million as on Dec. 31, 2016, down 13.88 percent or $23.88 million from year-ago. Shareholders equity was at $50.75 million as on Dec. 31, 2016.

Return on average assets moved up 40 basis points to 0.94 percent in the quarter from 0.54 percent in the last year period. At the same time, return on average equity increased 607 basis points to 13.08 percent in the quarter from 7.01 percent in the last year period.

Nonperforming assets moved down 72.91 percent or $4.76 million to $1.77 million on Dec. 31, 2016 from $6.53 million on Dec. 31, 2015.