Basic and diluted earnings per share for the 2007 fiscal year were $1.93 and $1.91, respectively, down from $2.44 and $2.41 per share, respectively, for 2006.
Net income for the quarter ended December 31, 2007 was $2.4 million, or $.33 per diluted share, down $1.8 million or 42% from $4.2 million or $.56 per diluted share for the comparable period in 2006.
Gregory Feldmann, president and CEO of First National Bank, said: In 2007 we continued to increase franchise value by reopening two renovated locations, opening a new branch near Tanglewood Mall in southwest Roanoke County, and preparing a new branch in Floyd, Virginia for opening in the spring of 2008. Core deposits grew in excess of $14 million and our commercial and retail divisions will continue to deepen client relationships as we forge ahead in 2008.
