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<P style="margin:0pt; line-height:16pt; font-size:14pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0pt; line-height:14pt; font-size:12pt" align=center><B>Washington, D.C. &nbsp;20549</B></P>
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<P style="margin:0pt; line-height:16pt; font-size:14pt" align=center><B>FORM 8-K</B></P>
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<P style="margin:0pt; line-height:16pt; font-size:14pt" align=center><B>CURRENT REPORT</B></P>
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<P style="margin:0pt; line-height:14pt; font-size:12pt" align=center><B>Pursuant to Section 13 or 15(d) of the</B></P>
<P style="margin:0pt; line-height:14pt; font-size:12pt" align=center><B>Securities Exchange Act of 1934</B></P>
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<P style="margin:0pt; line-height:14pt; font-size:12pt" align=center>Date of Report: &nbsp;February 25, 2003</P>
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<P style="margin:0pt; line-height:18pt; font-size:16pt" align=center><B>FIRST NATIONAL CORPORATION</B></P>
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<TD valign=top width=34%><P style="margin:0pt; line-height:14pt; font-size:12pt" align=center><B>Virginia</B></P>
<P style="margin:0pt; line-height:13pt; font-size:11pt" align=center>(State or Other Jurisdiction</P>
<P style="margin:0pt; line-height:13pt; font-size:11pt" align=center>of Incorporation)</P>
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<TD valign=top width=33%><P style="margin:0pt; line-height:14pt; font-size:12pt" align=center><B>0-23976</B></P>
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<TD valign=top width=33%><P style="margin:0pt; line-height:14pt; font-size:12pt" align=center><B>54-1232965</B></P>
<P style="margin:0pt; line-height:13pt; font-size:11pt" align=center>(IRS Employer</P>
<P style="margin:0pt; line-height:13pt; font-size:11pt" align=center>Identification No.)</P>
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<TD valign=top width=170>&nbsp;</TD>
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<TD valign=top width=50%><P style="margin:0pt; line-height:14pt; font-size:12pt" align=center><B>112 West King Street</B></P>
<P style="margin:0pt; line-height:14pt; font-size:12pt" align=center><B>Strasburg, Virginia</B></P>
<P style="margin:0pt; line-height:13pt; font-size:11pt" align=center>(Address of Principal Executive Offices)</P>
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<P style="margin:0pt; line-height:13pt; font-size:11pt" align=center>(Zip Code)</P>
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<P style="margin:0pt; line-height:14pt; font-size:12pt" align=center>Registrant&#146;s telephone number, including area code:</P>
<P style="margin:0pt; line-height:14pt; font-size:12pt" align=center>(540) 465-9121</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-size:12pt" align=justify><B>Item 5.</B></P>
<B><P style="margin:0pt; text-indent:72pt; line-height:14pt; font-size:12pt" align=justify>Other Events.</B></P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-size:12pt" align=justify>The press release issued by the Registrant on February 25, 2003 and attached hereto as Exhibit 99 is incorporated herein by reference.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-size:12pt" align=justify><B>Item 7.</B></P>
<B><P style="margin:0pt; text-indent:72pt; line-height:14pt; font-size:12pt" align=justify>Financial Statements, <I>Pro Forma</I> Financial Information and Exhibits.</B></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-size:12pt" align=justify>(c)</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-size:12pt" align=justify>Exhibits.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:36pt; text-indent:36pt; line-height:14pt; font-size:12pt" align=justify>99</P>
<P style="margin:0pt; padding-left:36pt; text-indent:72pt; line-height:14pt; font-size:12pt" align=justify>Press release issued by the Registrant on February 25, 2003.</P>
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<P style="margin:0pt; line-height:14pt; font-size:12pt" align=center><B>SIGNATURES</B></P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-size:12pt" align=justify>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.</P>
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<P style="margin:0pt; text-indent:198pt; line-height:14pt; font-size:12pt" align=justify><B>FIRST NATIONAL CORPORATION </B></P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-size:12pt" align=justify>Date: &nbsp;February 25, 2003</P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:198pt; line-height:14pt; font-size:12pt" align=justify>By: <U>/s/Harry S. Smith&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
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<P style="margin:0pt; text-indent:225pt; line-height:14pt; font-size:12pt">Harry S. Smith </P>
<P style="margin:0pt; text-indent:225pt; line-height:14pt; font-size:12pt">President and Chief Executive Officer</P>
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<P style="margin:0pt; line-height:14pt; font-size:12pt" align=center><B><U>Exhibit Index</U></B></P>
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<P style="margin:0pt; padding-left:36pt; text-indent:-36pt; font-size:12pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:12.5pt; line-height:14pt; font-size:12pt" align=justify><U>Exhibit No.</U></P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-size:12pt" align=justify><U>Description</U></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:108pt; text-indent:-72pt; line-height:14pt; font-size:12pt" align=justify>99</P>
<P style="margin:0pt; padding-left:108pt; line-height:14pt; font-size:12pt" align=justify>Press release issued by the Registrant on February 25, 2003.</P>
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Ethan Frome
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:  February 25, 2003
(Date of earliest event reported)
FIRST NATIONAL CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Virginia
(State or Other Jurisdiction
of Incorporation)
0-23976
(Commission File Number)
54-1232965
(IRS Employer
Identification No.)
112 West King Street
Strasburg, Virginia
(Address of Principal Executive Offices)
22657
(Zip Code)
Registrant's telephone number, including area code:
(540) 465-9121
Item 5.
Other Events.
The press release issued by the Registrant on February 25, 2003 and attached hereto as Exhibit 99 is incorporated herein by reference.
Item 7.
Financial Statements,
Pro Forma
Financial Information and Exhibits.
(c)
Exhibits.
99
Press release issued by the Registrant on February 25, 2003.
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:  February 25, 2003
By:
/s/Harry S. Smith
Harry S. Smith
President and Chief Executive Officer
Exhibit Index
Exhibit No.
Description
99
Press release issued by the Registrant on February 25, 2003.