VABK — what changed in the latest 10-Q
A section-by-section comparison of VABK's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-13 vs the prior 10-Q · 2026-05-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +25 | −12 | ~40 | 31 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 5 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 5 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 5 |
| Risk factors | Text added/removed | 0 | 0 | ~1 | 5 |
| Other information | Text added/removed | 0 | 0 | ~1 | 4 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-13
ROAA for the three months ended June 30, 2026 of 2.24% increased 119 bps when compared to the three months ended June 30, 2025 of 1.05%. ROAA for the six months ended June 30, 2026 was 1.77% compared to 1.08% realized in the same period in the prior year. Both periods of 2026 reflect higher non-inte…
ROAE for the three months ended June 30, 2026 was 18.81% compared to 10.05% in the same period in the prior year. ROAE for the six months ended June 30, 2026 was 15.14% compared to 10.54% realized in the same period in the prior year.
Net income per diluted share was $1.65 for the three months ended June 30, 2026, compared to $0.78 for the same period in the prior year. Net income per diluted share was $2.62 for the six months ended June 30, 2026 compared to $1.61 for the same period in the prior year.
Tangible book value per share (non-GAAP) increased to $34.05 as of June 30, 2026, compared to $29.63 as of June 30, 2025. The increase reflects the impact of the Company's earnings performance that the Company posts as well as the gain from the Bearing transaction in the second quarter of 2026.
The $144 thousand provision release from December 31, 2025 to June 30, 2026 was the result of a combination of events. The improved economic forecast in the first quarter of 2026 drove improvement in factors and thus overall lower reserves. During the first quarter, a significant number of construct…
Text removed vs the prior filing · source: 10-Q · 2026-05-12
ROAA for the three months ended March 31, 2026 of 1.30% increased 18 bps when compared to the ROAA of 1.12% for the three months ended March 31, 2025, as net income was higher in the current period as compared to the same period in the prior year.
ROAE for the three months ended March 31, 2026 was 11.34% compared to 11.05% realized in same period in the prior year.
Net income per diluted share was $0.97 for the three months ended March 31, 2026, compared to $0.83 for the same period in the prior year. The period over period increases were due to the rise in net income, as described below.
Tangible book value per share (non-GAAP) increased to $32.51 as of March 31, 2026, compared to $28.84 as of March 31, 2025. The increase is the result of total equity increasing period over period, coupled with the offsetting impact of intangible assets declining over the same period.
The primary driver in the $281 thousand provision release from December 31, 2025 to March 31, 2026 was the migration of loans to pools requiring lower reserve rates such as the conversion of constructions loans to permanent loan pools. Improvement in the economic forecast in the first quarter of 202…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice