Virginia National Bankshares Corporation (VABK) is a five-branch community bank serving Charlottesville, Virginia, with an additional branch in distant Winchester, Virginia. Virginia National Bankshares belongs to a small cadre of local community banks, often with concentrated geographic branch networks around college communities, such as Auburn National Bancorporation (AUBN), which have historically carried premium valuations.
Virginia National had not previously been especially appealing for this reason. However, the recent drop in community bank valuations in the face of coronavirus-induced concerns and lower benchmark interest rates has changed the dynamic. Virginia National's shares