Company profile

Jeffrey Vernon Haley
Incorporated in
Fiscal year end
Industry (SEC)
Former names
American National Bankshares Inc
IRS number

AMNB stock data



8 May 20
9 Jul 20
31 Dec 20


Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 23.87M 24.59M 24.96M 25.21M
Net income 8.54M 7.44M 8.69M -1.23M
Diluted EPS 0.77 0.68 0.78 -0.11
Net profit margin 35.79% 30.26% 34.83% -4.88%
Net change in cash 29.99M -63.04M 87.7M -15.95M
Cash on hand 109.57M 79.58M 142.62M 54.91M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 92.86M 68.77M 63.04M 56.17M
Net income 20.91M 22.58M 15.25M 16.3M
Diluted EPS 1.98 2.59 1.76 1.89
Net profit margin 22.51% 32.83% 24.19% 29.02%
Net change in cash 15.33M 11.78M -730K -42.13M
Cash on hand 79.58M 64.26M 52.48M 53.21M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
28 May 20 Dan Miller Pleasant American National Bankshares Inc. Other Aquire J No 27.23 551 15K 27,014.013
28 May 20 Penn Ronda American National Bankshares Inc. Other Aquire J No 27.23 588 16.01K 7,441.648
28 May 20 Joel R Shephard American National Bankshares Inc. Other Aquire J No 27.23 588 16.01K 71,190.781
28 May 20 Susan King Still American National Bankshares Inc. Other Aquire J No 27.23 588 16.01K 11,099.549
28 May 20 Claude B Owen American National Bankshares Inc. Other Aquire J No 27.23 662 18.03K 29,225.51
37.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 66 74 -10.8%
Opened positions 4 11 -63.6%
Closed positions 12 7 +71.4%
Increased positions 17 25 -32.0%
Reduced positions 28 20 +40.0%
13F shares
Current Prev Q Change
Total value 357.82M 273.65M +30.8%
Total shares 4.1M 4.33M -5.4%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK BlackRock 766.17K $18.31M +0.7%
Vanguard 489.68K $11.7M +2.8%
Dimensional Fund Advisors 405.16K $9.68M +2.4%
FJ Capital Management 383K $9.14M -24.5%
STT State Street 234.01K $5.59M -2.2%
Renaissance Technologies 194.4K $4.65M -1.3%
Smith, Salley & Associates 161.56K $3.86M -1.5%
Geode Capital Management 152.99K $3.66M +4.5%
Maltese Capital Management 139K $3.32M -10.1%
NTRS Northern Trust 136.19K $3.26M +6.9%
Largest transactions
Shares Bought/sold Change
FJ Capital Management 383K -124K -24.5%
Castine Capital Management 32.22K -50.38K -61.0%
Russell Investments 43.8K +40.33K +1161.6%
Maltese Capital Management 139K -15.62K -10.1%
MS Morgan Stanley 5.41K -13.68K -71.7%
Vanguard 489.68K +13.44K +2.8%
AUB Atlantic Union Bankshares 0 -13.37K EXIT
Martingale Asset Management L P 0 -12.7K EXIT
FMR 102.49K -10.95K -9.7%
Citadel Advisors 10K +10K NEW

Financial report summary

  • The Company's business is subject to interest rate risk, and variations in interest rates and inadequate management of interest rate risk may negatively affect financial performance.
  • The Company faces strong competition from financial services companies and other companies that offer banking and other financial services, which could negatively affect the Company's business.
  • Changes in economic conditions could materially and negatively affect the Company's business.
  • The Company's credit standards and its on-going credit assessment processes might not protect it from significant credit losses.
  • The Company's focus on lending to small to mid-sized community-based businesses may increase its credit risk.
  • The Company depends on the accuracy and completeness of information about clients and counterparties, and its financial condition could be adversely affected if it relies on misleading information.
  • The allowance for loan losses may not be adequate to cover actual losses.
  • Nonperforming assets take significant time to resolve and adversely affect the Company's results of operations and financial condition.
  • A downturn in the local real estate market could materially and negatively affect the Company's business.
  • The Company relies upon independent appraisals to determine the value of the real estate which secures a significant portion of its loans, and the values indicated by such appraisals may not be realizable if the Company is forced to foreclose upon such loans.
  • The Company is dependent on key personnel and the loss of one or more of those key personnel may materially and adversely affect the Company's operations and prospects.
  • The inability of the Company to successfully manage its growth or implement its growth strategy may adversely affect the Company's results of operations and financial condition.
  • Difficulties in combining the operations of acquired entities with the Company's own operations may prevent the Company from achieving the expected benefits from acquisitions.
  • The Company is subject to extensive regulation which could adversely affect its business.
  • Regulatory capital standards may have an adverse effect on the Company's profitability, lending, and ability to pay dividends on the Company's securities.
  • Regulations issued by the CFPB could adversely impact earnings due to, among other things, increased compliance costs or costs due to noncompliance.
  • Changes in accounting standards could impact reported earnings.
  • Failure to maintain effective systems of internal and disclosure control could have a material adverse effect on the Company's results of operation and financial condition.
  • The carrying value of goodwill may be adversely impacted.
  • The Company may need to raise additional capital in the future to continue to grow, but may be unable to obtain additional capital on favorable terms or at all.
  • The Company relies on other companies to provide key components of the Company's business infrastructure.
  • The Company's operations may be adversely affected by cybersecurity risks.
  • The Company’s risk-management framework may not be effective in mitigating risk and loss.
  • Current and proposed regulation addressing consumer privacy and data use and security could increase the Company's costs and impact its reputation.
  • Consumers may increasingly decide not to use the Bank to complete their financial transactions because of technological and other changes, which would have a material adverse impact on the Company's financial condition and operations.
  • Negative perception of the Company through media may adversely affect the Company’s reputation and business.
  • The Company is subject to claims and litigation pertaining to fiduciary responsibility.
  • Severe weather, natural disasters, acts of war or terrorism, and other external events could significantly impact the Company’s business.
  • While the Company's common stock is currently traded on the Nasdaq Global Select Market, it has less liquidity than stocks for larger companies quoted on a national securities exchange.
  • Economic and other conditions may cause volatility in the price of the Company’s common stock.
  • Future issuances of the Company's common stock could adversely affect the market price of the common stock and could be dilutive.
  • The primary source of the Company's income from which it pays cash dividends is the receipt of dividends from its subsidiary bank.
  • The Company's governing documents and Virginia law contain anti-takeover provisions that could negatively impact its shareholders.
Management Discussion
  • * Refer to the Non-GAAP Financial Measures section within this section for further information on these non-GAAP financial measurements.
  • Net interest income on a taxable equivalent basis increased $4,809,000 or 31.7% for the first quarter of 2020 compared to the same quarter of 2019. This improvement in net interest income was primarily related to an increase in earning asset balances and overall higher loan yields for the 2020 quarter compared to the 2019 quarter. Average loan balances for the 2020 quarter were up $477,930,000 or 35.3% over the 2019 quarter, primarily due to the HomeTown acquisition. Loan yields for the quarter were three basis points higher than the 2019 quarter.
  • For the first quarter of 2020, the Company's yield on interest-earning assets was 4.21%, compared to 4.20% for the first quarter of 2019. The cost of interest-bearing liabilities was 1.01% compared to 1.02%. The interest rate spread was 3.20% compared to 3.18%. The net interest margin, on a fully taxable equivalent basis, was 3.52% compared to 3.50%, an increase of two basis points (0.02%). The increase in net interest margin was driven by a $538,033,000 (31.0%) increase in average earning assets, enhanced by a $154,553,000 (36.8%) increase in average noninterest bearing deposits, and partially offset by a $363,961,000 (32.2%) increase in average interest bearing deposits.
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