The Bank Slate


First National in Va. posts loss from third-party C&I loans

First National in Strasburg, Va., reported a quarterly loss due to issues with commercial loans originated by a third-party lender.

The $1.4 billion-asset company said in a press release that it lost $851,000 in the fourth quarter. The company set aside $6 million in the quarter to cover potential loan losses.

First National said the quarter included $2.7 million in chargeoffs and $2.4 million in specific reserves largely tied to C&I loans originated to health care professionals through an outside lender.

The release did not identify the lender.

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