National Bankshares, Inc. Reports
Income For The Nine Months Ended September 30, 2013
VA, October 17, 2013: Today, National Bankshares, Inc. (NASDAQ Capital
Market: NKSH) announced net income of approximately $13.17 million
through September 30, 2013, up $106 thousand, or 0.81%, above the
total reported for the first nine months of 2012. Basic earnings
per share were $1.90, which compares with $1.88 reported at September
30, 2012. The return on average assets for the nine months ended
September 30, 2013 was 1.61% compared to 1.62% in 2012. The return
on average equity was 11.70% and 12.14% for the same two periods.
At September 30, 2013, the Company had total assets of $1.08 billion.
National Bankshares Chairman, President &
CEO James G. Rakes commented, We continue to focus on bringing
successful results to our stockholders by growing our bank with
high quality loans, sustaining asset quality and risk management,
and providing our customers the best community banking services
and products available. In addition, technology and process improvement
initiatives are underway to further enhance our customer experience.
National Bankshares, Inc., headquartered in Blacksburg,
Virginia, is the parent company of National Bank of Blacksburg,
which does business as National Bank, and of National Bankshares
Financial Services, Inc. National Bank is a community bank operating
from 25 offices throughout Southwest Virginia. National Bankshares
Financial Services, Inc. is an investment and insurance subsidiary
in the same trade area. The Companys stock is traded on the
NASDAQ Capital Market under the symbol NKSH.
Certain statements in this
press release may be "forward-looking statements." Forward-looking
statements are statements that include projections, predictions,
expectations or beliefs about future events or results that are
not statements of historical fact and that involve significant risks
and uncertainties. Although the Company believes that its expectations
with regard to forward-looking statements are based upon reasonable
assumptions within the bounds of its existing knowledge of its business
and operations, there can be no assurance that actual Company results
will not differ materially from any future results implied by the
forward-looking statements. Actual results may be materially different
from past or anticipated results because of many factors, some of
which may include changes in economic conditions, the interest rate
environment, legislative and regulatory requirements, new products,
competition, changes in the stock and bond markets and technology.
The Company does not update any forward-looking statements that
it may make.