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Photo Release -- Smiley Joins First National Corporation to Lead South Region

STRASBURG, Va., May 26, 2015 (GLOBE NEWSWIRE) -- First National Corporation (the "Company") (OTC Pink:FXNC), the parent company of First Bank (the "Bank"), announced today that Norman C. (Butch) Smiley, III has joined the Bank as Regional President of the newly formed South Region following the Bank's acquisition of six branches from Bank of America. The Bank acquired branches in Staunton, Dillwyn, Elkton, Farmville, Waynesboro and Woodstock. Butch most recently served as the President & CEO of Community Bank in Staunton, prior to being acquired in 2013. Butch began his banking career in 1982 and has served in numerous officer roles, including Chief Lending Officer. He brings a wealth of financial expertise, market knowledge, leadership and community banking values to the Company. Butch resides in Staunton, where he is actively engaged in numerous community and non-profit associations. Butch will be working at the Company's newly established Staunton Regional Headquarters, which will be undergoing renovations over the next several months.







The Company is also excited to have recruited Paul K. Martin, Senior Vice President/Market Executive, a seasoned banking professional. Prior to joining First Bank, Paul has served in various leadership and business development roles, most recently serving as the SVP and Senior Relationship Manager at a local community bank in the Staunton market. Paul is primarily responsible for developing the Staunton, Waynesboro and Augusta County markets. Paul will also be working at the Staunton Regional Headquarters.

First Bank is likewise pleased to announce the promotion of Jeffrey R. (Jeff) Smith to Senior Vice President/Market Executive. Jeff joined the Company in September 2014 and has demonstrated exceptional market knowledge and leadership. A Dayton native, Jeff brings over 23 years of local market experience in both commercial and mortgage lending. Jeff is primarily responsible for developing the Harrisonburg and Rockingham County markets. He will continue to work in the Harrisonburg Loan Production Office.

"We are truly excited about the newly formed South Region and recent branch acquisition. A vibrant market, combined with sound leadership, market executives focused on business development and a retail team committed to customer service and relationships positions the Company for future growth and success," stated Dennis A. Dysart, Senior EVP/Chief Operating Officer. "This expansion is clearly aligned with the Company's strategic growth plans. We welcome Butch and Paul to First Bank, and congratulate Jeff on his promotion."

Photos accompanying this release are available at

http://www.globenewswire.com/newsroom/prs/?pkgid=33254

http://www.globenewswire.com/newsroom/prs/?pkgid=33255

http://www.globenewswire.com/newsroom/prs/?pkgid=33256

About the Company

First National Corporation, headquartered in Strasburg, Virginia, is the bank holding company of First Bank, a community bank that first opened for business in 1907. The Bank offers loan, deposit, and wealth management products and services from 18 office locations located throughout the Shenandoah Valley and central regions of Virginia. Banking services are also accessed from the Bank's website, www.fbvirginia.com, and from a network of ATMs located throughout its market area. The Bank operates divisions under the names First Mortgage and First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc., which invests in entities that provide investment services and title insurance.

Caution about Forward Looking Statements

Certain information contained in this discussion may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to the Company's future operations and are generally identified by phrases such as "the Company expects," "the Company believes" or words of similar import. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reliable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. For details on factors that could affect expectations, see the risk factors and other cautionary language included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014, and other filings with the Securities and Exchange Commission.

CONTACT: Scott C. Harvard President and CEO (540) 465-9121 sharvard@fbvirginia.com Dennis A. Dysart Senior EVP (540) 465-9121 ddysart@fbvirginia.com

Source:First National Corporation