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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=4>UNITED STATES</FONT></B></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=4>SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=2>Washington, D.C. 20549</FONT></B></P>

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<P style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=5>FORM 8-K</FONT></B></P>

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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=3>CURRENT REPORT</FONT></B></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=2>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</FONT></B></P>

<P style="MARGIN-TOP: 16pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=2>Date of Report (Date of earliest event reported):</FONT><B><FONT size=2> August 13, 2006</FONT></B></P>

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<P style="MARGIN-TOP: 8pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=5>FIRST NATIONAL CORPORATION</FONT></B></P>

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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><B><FONT size=2>Virginia</FONT></B></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><B><FONT size=2>0-23976</FONT></B></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><B><FONT size=2>54-1232965</FONT></B></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=2>(State or other jurisdiction of incorporation)</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=2>(Commission File Number)</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=2>(IRS Employer</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=2>Identification No.)</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><B><FONT size=2>112 West King Street</FONT></B></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><B><FONT size=2>Strasburg, Virginia</FONT></B></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><B><FONT size=2>22657</FONT></B></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=2>(Address of principal executive offices)</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT size=2>(Zip Code)</FONT></P>
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<P style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=2>Registrant&#146;s telephone number, including area code:</FONT><B><FONT size=2> (540) 465-9121</FONT></B></P>

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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=2>Not Applicable</FONT></B></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=2>(Former name or former address, if changed since last report)</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 8pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</FONT></P>

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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT face=Wingdings>o</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>
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<P style="MARGIN-TOP: 0pt; BORDER-LEFT-COLOR: gray; MARGIN-BOTTOM: 0pt; BORDER-BOTTOM-COLOR: gray; MARGIN-LEFT: 0pt; BORDER-TOP-COLOR: gray; TEXT-INDENT: 0pt; TEXT-ALIGN: left; BORDER-RIGHT-COLOR: gray"><B><FONT size=2>Item 5.02</FONT></B></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><B><FONT size=2>Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.</FONT></B></P>
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<P style="MARGIN-TOP: 8pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left"><FONT size=2>First National Corporation (the Company) regretfully reports that Noel M. Borden, Chairman of the Board of Directors of the Company and Chairman of the Board of First Bank (the Bank), the Company&#146;s wholly owned subsidiary, passed away on August 13, 2006. Mr. Borden had served as Chairman of the Board of the Company and Chairman of the Board of the Bank since 1986 and had served as a director since 1962.</FONT></P>

<P style="MARGIN-TOP: 8pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left"><FONT size=2>Douglas C. Arthur, the current Vice Chairman and Secretary of the Board of the Company and of the Bank, will temporarily assume the role as Chairman of the Board of the Company and of the Bank.</FONT></P>

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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=2>-2-</FONT></P>

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<P style="MARGIN-TOP: 8pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=2>SIGNATURES</FONT></B></P>

<P style="MARGIN-TOP: 8pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left"><FONT size=2>Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></P>

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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 3.25in; TEXT-ALIGN: left"><B><FONT size=2>FIRST NATIONAL CORPORATION</FONT></B></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 3.25in; TEXT-ALIGN: left"><FONT size=2>(Registrant)</FONT></P>

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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>Date: August 17, 2006</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>By: </FONT><U><FONT size=2>/s/Harry S. Smith&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;</FONT></U></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 3.58in; TEXT-ALIGN: left"><FONT size=2>Harry S. Smith</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 3.58in; TEXT-ALIGN: left"><FONT size=2>President and Chief Executive Officer</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=2>-3-</FONT></P>

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{"company-data": {"conformed-name": "FIRST NATIONAL CORP /VA/", "cik": "0000719402", "assigned-sic": "6022", "irs-number": "541231965", "state-of-incorporation": "VA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23976", "film-number": "061039858"}, "business-address": {"street1": "100 WEST KING STREET", "city": "STRASBURG", "state": "VA", "zip": "22657", "phone": "7034659121"}, "mail-address": {"street1": "100 WEST KING STREET", "city": "STRASBURG", "state": "VA", "zip": "22657"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 13, 2006
FIRST NATIONAL CORPORATION
(Exact name of registrant as specified in its charter)
Virginia
0-23976
54-1232965
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
112 West King Street
Strasburg, Virginia
22657
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(540) 465-9121
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
First National Corporation (the Company) regretfully reports that Noel M. Borden, Chairman of the Board of Directors of the Company and Chairman of the Board of First Bank (the Bank), the Company's wholly owned subsidiary, passed away on August 13, 2006. Mr. Borden had served as Chairman of the Board of the Company and Chairman of the Board of the Bank since 1986 and had served as a director since 1962.
Douglas C. Arthur, the current Vice Chairman and Secretary of the Board of the Company and of the Bank, will temporarily assume the role as Chairman of the Board of the Company and of the Bank.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FIRST NATIONAL CORPORATION
(Registrant)
Date: August 17, 2006
By:
/s/Harry S. Smith
Harry S. Smith
President and Chief Executive Officer
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