National Bankshares, Inc. Reports
Income for the Nine Months Ended September 30, 2014
VA, October 23, 2014: Today, National Bankshares, Inc. (NASDAQ Capital
Market: NKSH) announced net income of approximately $12.78 million
through September 30, 2014 compared to $13.17 million reported for
the first nine months of 2013. Basic earnings per share were $1.84
which compares with $1.90 reported at September 30, 2013. The return
on average assets for the nine months ended September 30, 2014 was
1.53% compared to 1.61% in 2013. The return on average equity was
10.99% and 11.70% for the same two periods. At September 30, 2014,
the Company had total assets of almost $1.12 billion.
National Bankshares' Chairman, President &
CEO James G. Rakes commented, "We continue to seek ways to
grow our bank and build value for our stockholders. We have money
to lend and are ready to assist with our customers' financial needs.
While there continues to be aggressive competition for loan and
deposit growth, we are staying true to our community banking fundamentals
by delivering the very best products and personal customer service
in the communities that we serve."
National Bankshares, Inc., headquartered
in Blacksburg, Virginia, is the parent company of The 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 Company's 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.