First National Corp.’s Earnings Off by 27%

First National Corp., the parent company of First National Bank, reported that “occupancy costs” associated with the bank’s downtown office headquarters building dragged earnings down by 27% to $533,000 for the fiscal year ended Dec. 31. Earnings rose 102% to $148,000 for the fourth quarter.

Assets grew 33%, to $136.8 million, and deposits increased 41%, to $83.4 million. Net loans increased 23%, to $98.2 million.