$NKSH

NATIONAL BANKSHARES INC

CIK:0000796534|SEC Filings

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest Income
Interest and fees on loans	$ 14,068	$ 13,494	$ 28,012	$ 26,454
Interest on federal funds sold	0	2	0	5
Interest on interest-bearing deposits	605	978	1,029	2,017
Interest on securities – taxable	4,439	3,725	8,672	7,585
Interest on securities – nontaxable	342	337	682	673
Total interest income	19,454	18,536	38,395	36,734
Interest Expense
Interest on time deposits	2,541	3,058	5,172	6,369
Interest on other deposits	3,856	4,488	7,543	9,124
Interest on borrowings	7	0	7	0
Total interest expense	6,404	7,546	12,722	15,493
Net interest income	13,050	10,990	25,673	21,241
Provision for credit losses	317	36	244	312
Net interest income after provision for credit losses	12,733	10,954	25,429	20,929
Noninterest Income:
Noninterest Income	2,178	1,921	4,386	4,053
BOLI income	306	297	607	589
Gain on sale of mortgage loans held for sale	75	54	94	79
Other income	278	177	805	642
Gain on sale of equity investment	6,566		6,566
Loss on sale of securities, net	(6,549)		(6,549)
Total noninterest income	2,646	2,279	5,325	4,839
Noninterest Expense
Salaries and employee benefits	5,788	5,211	11,622	10,391
Occupancy, furniture and fixtures	838	731	1,722	1,470
Data processing	965	617	1,893	1,600
FDIC assessment	207	210	414	417
Intangible asset amortization	84	95	171	192
Franchise taxes	351	358	701	731
Professional services	358	509	731	808
Core system conversion expense	0	1,977	0	2,023
Other operating expenses	711	874	1,376	1,583
Total noninterest expense	9,302	10,582	18,630	19,215
Income before income tax expense	6,077	2,651	12,124	6,553
Income tax expense	1,048	362	2,114	1,028
Net Income	$ 5,029	$ 2,289	$ 10,010	$ 5,525
Basic net income per common share	$ 0.79	$ 0.36	$ 1.57	$ 0.87
Diluted net income per common share	$ 0.79	$ 0.36	$ 1.57	$ 0.87
Weighted average number of common shares outstanding, basic	6,363,920	6,358,917	6,363,647	6,358,665
Weighted average number of common shares outstanding, diluted	6,367,161	6,361,582	6,366,660	6,360,990
Dividends declared per common share	$ 0.75	$ 0.73	$ 0.75	$ 0.73
Deposit Account [Member]
Noninterest Income:
Noninterest Income	$ 690	$ 734	$ 1,339	$ 1,433
Product and Service, Other [Member]
Noninterest Income:
Noninterest Income	69	73	211	156
Credit and Debit Card [Member]
Noninterest Income:
Noninterest Income	544	366	1,001	783
Fiduciary and Trust [Member]
Noninterest Income:
Noninterest Income	$ 667	$ 578	$ 1,251	$ 1,157

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 8,854	$ 8,419
Interest-bearing deposits	45,709	50,831
Total cash and cash equivalents	54,563	59,250
Securities available for sale, at fair value	652,660	654,377
Mortgage loans held for sale	331	0
Loans:
Total loans	1,015,412	999,926
Less deferred fees and costs	(758)	(616)
Loans, net of deferred fees and costs	1,014,654	999,310
Less: allowance for credit losses on loans	(10,047)	(9,892)
Loans, net	1,004,607	989,418
Premises and equipment, net	18,269	18,479
Accrued interest receivable	7,029	6,538
Goodwill	10,718	10,718
Core deposit intangible, net	1,319	1,490
Bank-owned life insurance ("BOLI")	49,174	48,568
Other assets	34,030	35,668
Total assets	1,832,700	1,824,506
Liabilities and Stockholders' Equity
Noninterest-bearing demand deposits	313,453	313,022
Interest-bearing demand deposits	861,560	853,756
Savings deposits	139,593	142,645
Time deposits	314,850	317,510
Total deposits	1,629,456	1,626,933
Accrued interest payable	1,439	1,581
Other liabilities	9,574	11,084
Total liabilities	1,640,469	1,639,598
Commitments and contingencies
Stockholders' Equity
Preferred stock, no par value, 5,000,000 shares authorized; none issued and outstanding
Common stock of $1.25 par value and additional paid in capital. Authorized 10,000,000 shares; issued and outstanding 6,370,620 (including 4,619 unvested) shares as of June 30, 2026 and 6,368,410 (including 5,039 unvested) shares as of December 31, 2025	22,149	22,024
Retained earnings	207,789	202,558
Accumulated other comprehensive loss, net	(37,707)	(39,674)
Total stockholders' equity	192,231	184,908
Total liabilities and stockholders' equity	1,832,700	1,824,506
Real Estate Construction Portfolio Segment [Member]
Loans:
Total loans	72,220	40,694
Less: allowance for credit losses on loans	(671)	(337)
Consumer Real Estate Portfolio Segment [Member]
Loans:
Total loans	330,204	328,653
Less: allowance for credit losses on loans	(3,816)	(3,823)
Commercial Real Estate Portfolio Segment [Member]
Loans:
Total loans	456,181	467,783
Less: allowance for credit losses on loans	(3,834)	(3,805)
Commercial Non Real Estate Segment [Member]
Loans:
Total loans	49,616	52,018
Less: allowance for credit losses on loans	(674)	(849)
Public Sector and IDA Portfolio Segment [Member]
Loans:
Total loans	62,124	63,677
Less: allowance for credit losses on loans	(325)	(308)
Consumer Non Real Estate Portfolio Segment [Member]
Loans:
Total loans	45,067	47,101
Less: allowance for credit losses on loans	$ (727)	$ (770)