FIRST NATIONAL CORPORATION (OTCMKTS:FXNC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

FIRST NATIONAL CORPORATION (OTCMKTS:FXNC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) On August 8, 2018, the Board of Directors of First National Corporation appointed Mr. Jason C. Aikens as director of the Company and its wholly-owned banking subsidiary, First Bank.

Mr. Aikens has been appointed to serve on the Compensation and Governance Committee of the Board of Directors of the Company and the Loan Committee of the Board of Directors of First Bank. Mr. Aikens will receive the same compensation as the other non-management directors receive, as described in the Registrant's definitive proxy statement filed with the Securities and Exchange Commission on March 23, 2018.

Item 5.03Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

(a) On August 8, 2018, the Board of Directors of the Company amended Article II (A) of its Bylaws to increase the size of the Board of Directors from seven (7) to eight (8) members, effective immediately.

The full text of the Bylaws, as amended to date, is attached as Exhibit 3.1 to this report and is incorporated by reference into this Item 5.03.

Item 9.01Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No.Description

3.1

Bylaws of First National Corporation (as restated in electronic format as of August 8, 2018)


FIRST NATIONAL CORP /VA/ Exhibit
EX-3.1 2 exhibit318818.htm EXHIBIT 3.1 Exhibit Exhibit 3.1BY-LAWSOFFIRST NATIONAL CORPORATION(as amended August 8,…
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About FIRST NATIONAL CORPORATION (OTCMKTS:FXNC)

First National Corporation is a bank holding company of First Bank (the Bank). The Bank is a commercial bank, which provides loan, deposit, wealth management and other products and services in the Shenandoah Valley and central regions of Virginia. Loan products and services include personal loans, residential mortgages, home equity loans and commercial loans. Deposit products and services include checking, savings, negotiable order of withdrawal (NOW) accounts, money market accounts, individual retirement accounts, certificates of deposit and cash management accounts. The Bank offers other services, including Internet banking, mobile banking, remote deposit capture and other traditional banking services. The Bank’s wealth management department offers estate planning, investment management of assets, trustee under an agreement, trustee under a will, individual retirement accounts and estate settlement.

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