National Bankshares, Inc.
- Open
- 36.55
- Day high
- 36.81
- Day low
- 36.43
- Prev close
- 36.59
- Volume
- 24K
- Mkt cap
- $232M
- P/E (TTM)
- 13.3
- EPS (TTM)
- $2.75
- P/B
- 1.2
- P/S
- 2.7
- Yield
- 4.19%
- Per share
- $1.53
National Bankshares, Inc. (NKSH) is a Financial Services company listed on NASDAQ. The stock is up 25% over the past year.
National Bankshares, Inc. (NKSH) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NKSH earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $0.65 | $0.78 | +20.0% | $22M | +53.8% |
| Jan 22, 2026 | $0.68 | $0.84 | +23.5% | $22M | — |
| Oct 23, 2025 | $0.66 | $0.69 | +4.5% | — | — |
| Aug 13, 2025 | $0.64 | $0.61 | -4.7% | $21M | — |
| Apr 24, 2025 | $0.52 | $0.48 | -7.7% | $21M | — |
| Mar 26, 2025 | $0.55 | $0.48 | -12.0% | $21M | — |
| Oct 24, 2024 | $0.38 | $0.42 | +10.5% | $12M | +25.8% |
| Aug 14, 2024 | $0.12 | $-0.05 | -141.7% | $11M | +20.3% |
| May 15, 2024 | $0.43 | $0.37 | -14.0% | $10M | -9.2% |
| Mar 19, 2024 | $0.71 | $0.71 | +0.0% | $11M | -4.2% |
| Oct 26, 2023 | $0.55 | $0.47 | -14.5% | $11M | -4.8% |
| May 11, 2023 | $1.03 | $0.80 | -22.3% | $16M | +6.9% |
NKSH insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 11, 2026 | Dye Michael Edirector | Grant | 221 | — |
| Jun 11, 2026 | Dooley John Elliottdirector | Grant | 221 | — |
| Jun 11, 2026 | Thompson James Carrolldirector | Grant | 221 | — |
| Jun 11, 2026 | Sweet Alan Jeffreydirector | Grant | 221 | — |
| Jun 11, 2026 | Smith Lutheria H.director | Grant | 221 | — |
| Jun 11, 2026 | Reynolds Glenn Pdirector | Grant | 221 | — |
| Jun 11, 2026 | Johnson Mildred Rdirector | Grant | 221 | — |
| Jun 11, 2026 | DENARDO F BRADdirector | Grant | 221 | — |
| Jun 11, 2026 | Fitzwater Norman V IIIdirector | Grant | 221 | — |
| Jun 11, 2026 | BALL LAWRENCE Jdirector | Grant | 221 | — |
| Mar 16, 2026 | Sweet Alan Jeffreydirector | Buy | 215 | $37.10 |
| Feb 17, 2026 | Jones Lora M.officer: EVP/Chief Financial Officer | Grant | 767 | — |
| Feb 17, 2026 | Skeens David K.officer: EVP/Chief Operating Officer | Grant | 771 | — |
| Feb 17, 2026 | Skeens David K.officer: EVP/Chief Operating Officer | Grant | 265 | — |
| Feb 17, 2026 | Mylum Paul M.officer: EVP/Chief Lending Officer | Grant | 906 | — |
Source: NKSH SEC Form 4 filings, latest Jun 11, 2026. For informational purposes only — not investment advice.
See the full NKSH insider & 13F page →National Bankshares, Inc. company profile
Overview
National Bankshares, Inc. (NASDAQ:NKSH) is a regional bank holding company founded in 1891 and headquartered in Blacksburg, Virginia. The company operates through its subsidiary, the National Bank of Blacksburg, serving Southwest Virginia with a network of 23 branch offices and 22 automated teller machines. As a community-focused financial institution with over 130 years of history, National Bankshares has established itself as a stable provider of traditional banking services in its regional market, maintaining a conservative approach to banking operations while adapting to modern financial service delivery methods.
Business
National Bankshares operates in the regional banking industry, providing comprehensive financial services to individuals, businesses, non-profit organizations, and local governments throughout Southwest Virginia. The banking industry serves as a financial intermediary, accepting deposits from customers and using those funds to make loans, while earning income from the difference between interest paid on deposits and interest earned on loans. The company's core operations center around traditional commercial banking services. On the deposit side, National Bankshares offers various account types including interest-bearing and non-interest bearing demand deposit accounts (checking accounts), money market deposit accounts, savings accounts, certificates of deposit, health savings accounts, and individual retirement accounts. These deposit products provide the funding base for the bank's lending operations. The lending portfolio encompasses several key segments. Commercial and agricultural loans serve business customers for working capital, equipment purchases, and operational needs. Commercial real estate loans finance income-producing properties such as office buildings, retail centers, and industrial facilities. Residential real estate loans include traditional home mortgages for primary residences, while home equity loans allow homeowners to borrow against their property's value. The bank also provides various consumer loan products for personal financing needs and construction loans for both commercial and residential development projects. Beyond traditional banking, National Bankshares offers complementary financial services. The company provides business and consumer debit and credit cards, letters of credit for trade financing, night depository services for business customers, safe deposit boxes, utility payment services, and automatic funds transfer capabilities. Wealth management, trust, and estate services cater to customers seeking investment advice and estate planning. The bank also offers non-deposit investment products and insurance services, expanding its revenue streams beyond traditional banking. Modern convenience is addressed through telephone, mobile, and internet banking platforms that allow customers to conduct transactions remotely.
Revenue model
National Bankshares generates revenue primarily through net interest income, which represents the difference between interest earned on loans and investments and interest paid on deposits and borrowings. This is the fundamental business model of traditional banking - the bank acts as a financial intermediary, paying depositors a lower rate of interest while charging borrowers a higher rate, with the spread representing the bank's primary profit margin. The bank's paying customers include individual consumers seeking personal banking services, local businesses requiring commercial banking solutions, non-profit organizations, and local government entities. Commercial and agricultural borrowers typically represent higher-yielding loan segments compared to residential mortgages, while deposit customers provide the low-cost funding base essential for profitable lending operations. Additional revenue streams include non-interest income from various fee-based services. These include service charges on deposit accounts, credit and debit card interchange fees, wealth management and trust service fees, safe deposit box rentals, and commissions from insurance and investment product sales. Based on typical regional bank operations, non-interest income likely represents approximately 15-25% of total revenue, with net interest income comprising the majority. Several factors can significantly impact the bank's profitability margins. Interest rate environment changes affect both sides of the balance sheet - rising rates can improve net interest margins if loan repricing occurs faster than deposit repricing, while falling rates can compress margins. Credit quality directly impacts profitability through loan loss provisions, with economic downturns potentially requiring increased reserves for bad debt. Competition from larger regional banks, credit unions, and fintech companies can pressure both loan pricing and deposit rates. Regulatory compliance costs continue to increase for all banks, affecting operational efficiency. Local economic conditions in Southwest Virginia significantly influence loan demand, credit quality, and deposit growth, making the bank's performance closely tied to regional economic health.
Competitive moat
National Bankshares possesses a modest but meaningful competitive moat built primarily around its established community presence and local market knowledge. The bank's 130-year operating history in Southwest Virginia has created deep relationships with local businesses, families, and institutions that are difficult for outside competitors to replicate quickly. This local market intimacy allows for better credit underwriting decisions and customer retention through personalized service that larger regional or national banks often cannot match. The company's extensive physical branch network of 23 locations provides convenient access for customers who value in-person banking relationships, particularly important for commercial lending where relationship banking remains crucial. Local decision-making authority allows faster loan approvals and more flexible terms compared to larger institutions where credit decisions may be made at distant headquarters. However, this moat faces significant challenges and limitations. The geographic concentration in Southwest Virginia creates vulnerability to regional economic downturns and limits growth opportunities. Digital disruption from fintech companies and online banks threatens traditional relationship banking, particularly among younger customers who prioritize convenience over personal relationships. Scale disadvantages compared to larger regional banks result in higher relative operating costs and limited ability to invest in advanced technology platforms. Competitive threats include larger regional banks with superior technology and broader service offerings, credit unions with tax advantages and member-focused models, and national banks that can offer more competitive rates due to their funding advantages. The rise of digital-first banking and mobile payment solutions continues to erode the importance of physical branch networks, potentially weakening National Bankshares' traditional competitive advantages over time.
Risks & safety
National Bankshares demonstrates strong financial stability with minimal solvency risk, supported by conservative balance sheet management and adequate profitability. • Debt and Solvency: Zero debt-to-equity ratio indicates no meaningful debt burden. Strong current ratio of 9.48 and quick ratio of 9.48 demonstrate excellent short-term liquidity. Total assets of $1.81 billion against liabilities of $1.66 billion provide substantial equity cushion. • Cash Position: Cash and short-term investments of $13.9 million represent modest but adequate liquidity reserves. Positive operating cash flow of $9.4 million annually and free cash flow of $6.2 million indicate healthy cash generation. • Valuation Metrics: Price-to-earnings ratio of 14.8 appears reasonable for a regional bank. Price-to-book ratio of 1.17 suggests modest valuation premium. Return on equity of 4.9% is below historical banking averages but reflects current interest rate environment challenges. • Other Considerations: Net income volatility with Q2 2024 loss of $306,000 raises concerns about earnings consistency. Revenue declining from $59.4 million in 2022 to $44.1 million in 2024 indicates pressure on core business performance.
Recent development
Based on the available financial data, National Bankshares has experienced significant operational challenges over the past few years. The most notable development has been a substantial decline in revenue and profitability from peak performance levels. Annual revenue dropped from $59.4 million in 2022 to $44.1 million in 2024, representing a 26% decline over two years. Similarly, net income fell dramatically from $25.9 million in 2022 to $7.6 million in 2024, indicating significant pressure on the bank's core profitability. The company experienced particular volatility in 2024, including a quarterly loss of $306,000 in Q2 2024, which suggests challenges in managing the interest rate environment and potentially increased credit provisions. This performance inconsistency contrasts sharply with the historically stable earnings profile expected from community banks. Balance sheet management has shown conservative positioning with the elimination of debt by 2024, resulting in a zero debt-to-equity ratio. The bank has maintained substantial cash positions, though these have fluctuated significantly - from over $121 million in Q1 2024 to approximately $14 million by Q4 2024, indicating active liquidity management or potential deployment of excess cash into earning assets. The decline in financial performance appears to reflect broader challenges facing regional banks, including compressed net interest margins due to interest rate volatility, increased competition for deposits, and potentially slower loan growth in the Southwest Virginia market. Without access to earnings call transcripts, the specific strategic initiatives or management responses to these challenges remain unclear from the financial data alone.
NKSH company profile · for informational purposes only — not investment advice.
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