First National Corporation announces $5M stock repurchase plan
First National Corporation announced that its board of directors has authorized a stock repurchase plan pursuant to which First National may repurchase up to $5M of the Company's outstanding common stock. First National intends to purchase shares periodically through privately negotiated transactions or in the open market in accordance with Securities and Exchange Commission rules. The Company's board of directors authorized the purchase plan to run through December 31, 2020, unless the entire amount authorized to be repurchased has been acquired before that date. First National intends to fund the repurchase plan with a combination of cash on hand and cash generated from ongoing operations.