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VNB Wealth Management completes purchase of a book of business in Q1

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VNB Wealth Management completes purchase of a book of business in Q1

Charlottesville,Va.-based Virginia NationalBankshares Corp. said May 4 that VNB Wealth Management completedthe purchase of a book of business in the first quarter.

This shouldadd to the company's noninterest income over the coming quarters, according toan earnings release.

The companyreported net income of $1.4 million, or 57 cents per share, for the firstquarter, compared to $415,000, or 15 cents per share, for the first quarter of2015.

Noninterestincome for the first quarter was $1.1 million, down $60,000 compared to theyear-ago period.

VNB WealthManagement is a trade name of VNBTrust NA, a unit of Virginia National Bank.