First National Corporation Subsidiary Announces New Mortgage Division

STRASBURG, Va., June 12, 2014 /PRNewswire/ -- First National Corporation (the "Company") (OTCBB: FXNC), the parent company of First Bank (the "Bank"), announced today the launch of a new mortgage division named, "First Mortgage".  George Ballew has joined First Bank as the Chief Executive Officer of the division that will be headquartered in Staunton, Virginia.  Mr. Ballew has over 27 years of mortgage lending experience, with nearly 20 years in the Staunton market.  George most recently served as a Senior Vice President and Mortgage Market Manager.  During his illustrious career, he has been a valued financial partner for many, providing local banking services and sound financial advice.  The Company is excited about the strategic opportunity to expand operations into the Staunton market.  First Mortgage is a natural extension of the Company's core banking franchise.  George will build a productive team of mortgage professionals to meet the diverse needs of current and prospective homeowners throughout the region.

Dennis Dysart, Senior EVP of the Bank stated, "We are excited about the opportunity to expand into the Staunton market and build the First Mortgage operation with George's leadership and experience.  George epitomizes the First Bank commitment to community, service, and community banking.  His support of our core values combined with his strong skills as a lender and as a leader makes him an excellent addition to our Company and the perfect person to lead the First Mortgage division."

Ballew added, "It's a privilege to be a part of a local community bank, such as First Bank, that has a long history of customer service.  I intend to carry this type of service to each and every customer of First Mortgage."

First National Corporation, headquartered in Strasburg, Virginia, is the bank holding company of First Bank that first opened for business in 1907.  First Bank offers loan, deposit, trust and investment products and services from 10 office locations located throughout the northern Shenandoah Valley region of Virginia, which includes Shenandoah County, Warren County, Frederick County and the City of Winchester. Banking services are also accessed from the Bank's website, www.fbvirginia.com, and from a network of ATMs located throughout its market area.  First Bank also owns First Bank Financial Services, Inc., which invests in entities that provide investment services and title insurance.

Cautionary Statements
The Company notes to investors that past results of operations do not necessarily indicate future results.  Certain factors that affect the Company's operations and business environment are subject to uncertainties that could in turn affect future results.  These factors are identified in the Annual Report on Form 10-K for the year ended December 31, 2013, which can be accessed from the Company's website at www.fbvirginia.com, as filed with the Securities and Exchange Commission.

SOURCE First National Corporation