What does provision for credit losses mean?

Expense recognized to build or adjust allowances for expected credit losses on loans, receivables, and other financial assets, based on forward-looking CECL methodology.

First National Corp. FXNC Provision for Credit Losses

Discontinued — last reported Q1 '19

Provision for Credit Losses at other companies

First UnitedFUNC

$879K+34.0%

National BanksharesNKSH

-$73K-126%

VAB

Virginia National Bankshares CorporationVABK

-$336K-110%

Citizens Financial Services, Inc.CZFS

$500K-20.0%

First Commonwealth FinancialFCF

$10.73M+87.1%

SB Financial GroupSBFG

$214K-44.7%

Segments

By segment

See full

Wealth Management$0—

Other financials

Income statement

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Revenue$3.3M+0.3%

Net income$4.9M+206%

Balance sheet

See full

Cash & equivalents$187.8M-8.8%

Total debt$1.8M-9.0%

Total equity$188.6M+11.8%

Total assets$2.1B+2.1%

Cash flow

See full

Operating cash flow$6.4M+81.6%

CapEx$488.0K+1.0%

Free cash flow$5.9M+94.3%

Valuation

See full

Market cap$271.41M+59.6%

P/E12.9×—

P/S19×+8.2×

Profitability

See full

Net margin146.8%—

FCF margin166.5%+110pp

Returns & leverage

See full

Return on equity11.8%—

Debt / equity0×0.0×

Where this comes from

Reported directly by First National Corp. in its filing.

Tagged under the XBRL concept us-gaap:ProvisionForLoanAndLeaseLosses.

The official record: First National Corp.’s 10-Q, filed May 9, 2019, on SEC EDGAR. View the filing →

Questions, answered.

What does provision for credit losses mean?: Expense recognized to build or adjust allowances for expected credit losses on loans, receivables, and other financial assets, based on forward-looking CECL methodology.