NASDAQ : NKSH
National Bankshares, Inc. — Financial statements
Financials · Banks - Regional · United States
Last price 40.95 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 260.69M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 57.11M | 55.45M | 47.91M | 38.92M | 34.25M | 34.92M |
| Interest Income on Investments | 21.14M | 19.86M | 22.12M | 19.91M | 15.86M | 10.06M |
| Total Interest Income | 78.25M | 75.31M | 70.03M | 58.83M | 50.11M | 44.99M |
| Interest Paid on Deposits | 25.75M | 29.37M | 33.72M | 21.25M | 3.08M | 3.10M |
| Interest Paid on Borrowings | 333.00K | 381.00K | 2.00K | 300.00K | ||
| Total Interest Expense | 26.09M | 29.75M | 33.72M | 21.55M | 3.08M | 3.10M |
| Net Interest Income | 52.17M | 45.56M | 36.31M | 37.28M | 47.03M | 41.89M |
| Trust Income | 2.55M | 2.47M | 2.18M | 1.90M | 1.82M | 1.79M |
| Gain (Loss) on Sale of Investments | 17.00K | -361.00K | 3.82M | 6.00K | ||
| Other Non-Interest Income | 3.04M | 2.82M | 2.52M | 3.52M | 2.26M | 2.35M |
| Total Non-Interest Income | 10.53M | 10.00M | 9.05M | 9.36M | 12.40M | 8.43M |
| Revenues Before Loan Losses | 62.69M | 55.56M | 45.36M | 46.64M | 59.43M | 50.31M |
| Provision for Loan Losses | -66.00K | -16.00K | 1.23M | -1.26M | 706.00K | -398.00K |
| Revenue | 62.76M | 55.58M | 44.13M | 47.90M | 58.72M | 50.71M |
| Salaries and Employee Benefits | 22.25M | 20.32M | 18.75M | 16.98M | 16.12M | 15.39M |
| Occupancy Expenses | 2.96M | 2.63M | 2.21M | 1.62M | 1.60M | 1.47M |
| Federal Deposit Insurance | 829.00K | 831.00K | 812.00K | 749.00K | 477.00K | 422.00K |
| Amortization of Goodwill & Intangibles | 342.00K | 373.00K | 237.00K | |||
| Selling, General & Administrative | 6.14M | 5.86M | 5.48M | 6.01M | 4.92M | 3.77M |
| Other Non-Interest Expense | 4.10M | 6.41M | 4.60M | 3.84M | 3.52M | 4.98M |
| Total Non-Interest Expense | 36.62M | 36.41M | 32.09M | 29.23M | 26.96M | 26.08M |
| EBT Excluding Unusual Items | 26.14M | 19.17M | 12.04M | 18.68M | 31.76M | 24.63M |
| Pretax Income | 26.14M | 19.17M | 9.12M | 18.68M | 31.76M | 24.63M |
| Income Tax Expense | 4.76M | 3.34M | 1.50M | 2.98M | 5.83M | 4.25M |
| Net Income | 21.38M | 15.83M | 7.62M | 15.69M | 25.93M | 20.38M |
| Net Income to Common | 21.38M | 15.83M | 7.62M | 15.69M | 25.93M | 20.38M |
| Basic Shares Outstanding | 6.36M | 6.36M | 6.16M | 5.89M | 5.99M | 6.21M |
| Diluted Shares Outstanding | 6.37M | 6.36M | 6.16M | 5.89M | 5.99M | 6.21M |
| EPS (Basic) | 3.36 | 2.49 | 1.24 | 2.66 | 4.33 | 3.28 |
| EPS (Diluted) | 3.36 | 2.49 | 1.24 | 2.66 | 4.33 | 3.28 |
| Dividend Per Share | 1.53 | 1.51 | 1.51 | 1.51 | 1.50 | 1.44 |
| Effective Tax Rate | 18.20% | 17.43% | 16.43% | 15.98% | 18.36% | 17.26% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 30.11M | 59.25M | 108.12M | 86.60M | 71.43M | 138.79M |
| Investment Securities | 619.89M | 446.74M | 463.60M | 468.45M | 495.38M | 479.91M |
| Mortgage-Backed Securities | 207.64M | 138.30M | 150.15M | 161.48M | 206.17M | |
| Total Investments | 619.89M | 654.38M | 601.90M | 618.60M | 656.85M | 686.08M |
| Gross Loans | 1.02B | 999.93M | 988.61M | 857.17M | 853.19M | 803.73M |
| Allowance for Loan Losses | -10.12M | -9.89M | -10.26M | -9.09M | -8.22M | -7.67M |
| Other Adjustments to Gross Loans | -852.00K | -616.00K | -663.00K | -529.00K | -449.00K | -481.00K |
| Net Loans | 1.01B | 989.42M | 977.69M | 847.55M | 844.52M | 795.57M |
| Property, Plant & Equipment | 18.04M | 20.32M | 18.13M | 12.21M | 11.79M | 11.25M |
| Goodwill | 10.72M | 10.72M | 10.72M | 5.85M | 5.85M | 5.85M |
| Other Intangible Assets | 1.24M | 1.49M | 1.86M | |||
| Loans Held for Sale | 422.00K | 619.00K | 406.00K | 615.00K | ||
| Accrued Interest Receivable | 7.31M | 6.54M | 6.47M | 6.31M | 6.00M | 5.10M |
| Long-Term Deferred Tax Assets | 9.91M | 16.38M | 16.32M | 21.56M | 261.00K | |
| Other Real Estate Owned & Foreclosed | 662.00K | 957.00K | ||||
| Other Long-Term Assets | 88.19M | 72.48M | 69.76M | 61.52M | 58.90M | 57.69M |
| Total Assets | 1.78B | 1.82B | 1.81B | 1.66B | 1.68B | 1.70B |
| Interest Bearing Deposits | 1.26B | 1.23B | 1.27B | 1.16B | 1.20B | 1.16B |
| Institutional Deposits | 78.98M | 87.64M | 65.78M | 18.61M | 14.60M | |
| Non-Interest Bearing Deposits | 318.75M | 313.02M | 290.09M | 281.21M | 327.71M | 317.43M |
| Total Deposits | 1.58B | 1.63B | 1.64B | 1.50B | 1.54B | 1.49B |
| Current Portion of Leases | 556.00K | |||||
| Accrued Interest Payable | 1.57M | 1.58M | 1.46M | 1.42M | 106.00K | 48.00K |
| Long-Term Leases | 1.48M | 1.52M | 1.13M | 1.44M | 1.56M | |
| Other Long-Term Liabilities | 10.21M | 9.05M | 7.49M | 8.33M | 10.59M | 14.23M |
| Total Liabilities | 1.61B | 1.64B | 1.66B | 1.51B | 1.55B | 1.51B |
| Common Stock | 22.19M | 22.02M | 21.83M | 7.40M | 7.36M | 7.58M |
| Retained Earnings | 213.28M | 202.56M | 196.34M | 197.98M | 199.09M | 188.23M |
| Comprehensive Income & Other | -59.13M | -39.67M | -61.77M | -64.87M | -83.77M | -4.06M |
| Shareholders' Equity | 176.34M | 184.91M | 156.41M | 140.52M | 122.69M | 191.75M |
| Total Liabilities & Equity | 1.78B | 1.82B | 1.81B | 1.66B | 1.68B | 1.70B |
| Total Debt | 17.90M | 2.04M | 1.52M | 1.13M | 1.44M | 1.56M |
| Net Cash (Debt) | 12.21M | 57.21M | 106.59M | 85.48M | 69.98M | 137.23M |
| Net Cash Per Share | 1.92 | 8.99 | 17.29 | 14.51 | 11.68 | 22.10 |
| Filing Date Shares Outstanding | 6.37M | 6.36M | 6.36M | 5.89M | 5.89M | 6.02M |
| Total Common Shares Outstanding | 6.37M | 6.36M | 6.36M | 5.89M | 5.89M | 6.06M |
| Book Value Per Share | 27.70 | 29.06 | 24.60 | 23.86 | 20.83 | 31.62 |
| Tangible Book Value | 164.38M | 172.70M | 143.83M | 134.67M | 116.84M | 185.90M |
| Tangible Book Value Per Share | 25.82 | 27.14 | 22.62 | 22.87 | 19.84 | 30.66 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 15.83M | 7.62M | 15.69M | 25.93M | 20.38M | |
| Depreciation & Amortization | 1.47M | 1.14M | 754.00K | 609.00K | 636.00K | |
| Gain (Loss) on Sale of Assets | -2.00K | 1.00K | 3.00K | 286.00K | 25.00K | |
| Gain (Loss) on Sale of Investments | 1.05M | 1.07M | 4.41M | 1.26M | 1.68M | |
| Provision for Credit Losses | -16.00K | 1.23M | -1.26M | 706.00K | -398.00K | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 845.00K | -45.00K | -299.00K | 772.00K | 615.00K | |
| Accrued Interest Receivable | -69.00K | 181.00K | -312.00K | -897.00K | -76.00K | |
| Change in Other Net Operating Assets | 1.07M | -2.09M | -4.47M | 2.00M | 1.15M | |
| Other Operating Activities | -364.00K | 1.26M | -232.00K | -1.07M | -758.00K | |
| Operating Cash Flow | 17.89M | 9.44M | 15.52M | 29.50M | 22.88M | |
| Capital Expenditures | -2.74M | -3.26M | -1.49M | -1.26M | -323.00K | |
| Sale of Property, Plant and Equipment | 2.00K | 46.00K | 9.00K | |||
| Cash Acquisitions | 6.90M | |||||
| Investment in Securities | -26.79M | 25.54M | 57.72M | -78.71M | -154.07M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -9.65M | -13.61M | -4.11M | -49.66M | -34.92M | |
| Other Investing Activities | 169.00K | 403.00K | -96.00K | -4.55M | ||
| Investing Cash Flow | -39.18M | 15.79M | 53.19M | -129.71M | -193.25M | |
| Long-Term Debt Repaid | -5.23M | |||||
| Net Debt Issued (Repaid) | -5.23M | |||||
| Repurchase of Common Stock | -6.34M | -13.35M | ||||
| Common Dividends Paid | -9.61M | -9.26M | -8.89M | -8.95M | -8.81M | |
| Net Increase (Decrease) in Deposit Accounts | -17.97M | 10.78M | -38.75M | 48.14M | 197.44M | |
| Financing Cash Flow | -27.58M | -3.71M | -53.54M | 32.85M | 175.28M | |
| Net Cash Flow | -48.87M | 21.51M | 15.17M | -67.36M | 4.92M | |
| Free Cash Flow | 15.15M | 6.18M | 14.03M | 28.24M | 22.56M | |
| Free Cash Flow Margin | 27.26% | 14.01% | 29.29% | 48.09% | 44.48% | |
| Free Cash Flow Per Share | 2.38 | 1.00 | 2.38 | 4.71 | 3.63 | |
| Cash Interest Paid | 29.48M | 33.68M | 20.24M | 3.02M | 3.11M | |
| Cash Income Tax Paid | 2.21M | 715.00K | 2.54M | 3.86M | 3.18M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 255.79M | 213.28M | 182.50M | 190.53M | 239.70M | 218.19M |
| Last Close Price | 40.18 | 32.82 | 26.63 | 28.56 | 32.88 | 28.04 |
| PE Ratio | 11.96 | 13.48 | 23.94 | 12.14 | 9.24 | 10.71 |
| PS Ratio | 4.08 | 3.84 | 4.13 | 3.98 | 4.08 | 4.30 |
| PB Ratio | 1.45 | 1.15 | 1.17 | 1.36 | 1.95 | 1.14 |
| P/FCF Ratio | 13.89 | 14.08 | 29.52 | 13.58 | 8.49 | 9.67 |
| P/OCF Ratio | 12.75 | 11.92 | 19.34 | 12.27 | 8.12 | 9.54 |
| Debt / Equity Ratio | 0.10 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Debt / FCF Ratio | 0.14 | 0.25 | 0.08 | 0.05 | 0.07 | |
| Net Debt / Equity Ratio | -0.07 | -0.31 | -0.68 | -0.61 | -0.57 | -0.72 |
| Net Debt / FCF Ratio | -3.78 | -17.24 | -6.09 | -2.48 | -6.08 | |
| Return on Equity (ROE) | 12.03% | 9.27% | 5.13% | 11.92% | 16.49% | 10.39% |
| Return on Assets (ROA) | 1.19% | 0.87% | 0.44% | 0.94% | 1.54% | 1.26% |
| Earnings Yield | 8.36% | 7.42% | 4.18% | 8.24% | 10.82% | 9.34% |
| FCF Yield | 7.20% | 7.10% | 3.39% | 7.36% | 11.78% | 10.34% |
| Dividend Yield | 3.76% | 4.50% | 5.26% | 4.67% | 3.69% | 4.00% |
| Payout Ratio | 45.54% | 60.73% | 121.53% | 56.68% | 34.51% | 43.20% |
| Buyback Yield / Dilution | -0.04% | -3.23% | -4.65% | 1.66% | 3.55% | 4.22% |
| Total Shareholder Return | 3.72% | 1.28% | 0.61% | 6.33% | 7.23% | 8.22% |