Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in its charter) FORM 10-Q (540) 951-6300 (Registrant's telephone number, including area code) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission ...

BLACKSBURG, VA., April 24, 2025 -- National Bankshares, Inc. ("the Company") (Nasdaq: NKSH), parent company of The National Bank of Blacksburg ("the Bank") and National Bankshares Financial Services, Inc., today announced its results of operations for the first quarter of 2025. The Company reported net income of $3.24 million or $0.51 per diluted common share for the three months ended March 31, 2025. This compares with net income of $2.17 million or $0.37 per diluted common share for the three months ended ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2024 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ________ to ________. Commission File Number: 0-15204 NATIONAL BANKSHARES, INC. (Exact name of registrant as specified in its charter) Virginia (State or other ...

Earnings Performance - National Bankshares reported quarterly earnings of $0 48 per share, in line with the Zacks Consensus Estimate, compared to $0 71 per share a year ago [1] - The company missed the Zacks Consensus Estimate for revenues by 1 71%, posting $12 25 million for the quarter ended December 2024, compared to $10 73 million a year ago [2] - Over the last four quarters, the company has not surpassed consensus EPS estimates and topped revenue estimates only once [2] Stock Performance and Market Comparison - National Bankshares shares have gained 3 8% since the beginning of the year, slightly outperforming the S&P 500's gain of 3 5% [3] - The stock's immediate price movement will depend on management's commentary during the earnings call [3] Earnings Outlook and Estimate Revisions - The current consensus EPS estimate for the coming quarter is $0 52 on $12 64 million in revenues, and $2 35 on $53 35 million in revenues for the current fiscal year [7] - The estimate revisions trend for National Bankshares is mixed, translating into a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - National Bankshares belongs to the Zacks Banks - Southeast industry, which is currently in the top 20% of Zacks industries [8] - The top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8] Peer Comparison - First National Corp (FXNC), another company in the same industry, is expected to report quarterly earnings of $0 47 per share, representing a year-over-year change of +435 7%, with revenues expected to be $21 5 million, up 54 9% from the year-ago quarter [9]

CONTACTS: F. Brad Denardo, Chairman and CEO Lora M. Jones, Treasurer & CFO (540) 951-6213 bdenardo@nbbank.com (540) 951-6238 ljones@nbbank.com National Bankshares, Inc. Reports Results for the Fourth Quarter and Twelve Months Ended December 31, 2024 BLACKSBURG, VA., January 23, 2025 -- National Bankshares, Inc. ("the Company") (Nasdaq: NKSH), parent company of The National Bank of Blacksburg ("the Bank") and National Bankshares Financial Services, Inc., today announced its results of operations for the year ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 0-15204 NATIONAL BANKSHARES, INC. (Exact name of registrant as specified in its charter) Virginia 54-1375 ...

Financial Performance - National Bankshares, Inc. reported net income of $4.54 million or $0.75 per basic common share for the nine months ended September 30, 2024, a decrease from $11.51 million or $1.95 per share for the same period in 2023[2]. - For the third quarter of 2024, net income was $2.68 million or $0.42 per share, compared to $3.07 million or $0.52 per share in the third quarter of 2023[2]. - Net income for the nine months ended September 30, 2024, was $4,544,000, a decline of 60.5% compared to $11,506,000 in the same period of 2023[22]. - Basic net income per common share decreased to $0.75 from $1.95, reflecting a 61.5% drop year-over-year[22]. - Net income for the three months ended September 30, 2024, was $2,676 thousand, compared to a net loss of $306 thousand for the three months ended June 30, 2024, and a net income of $3,074 thousand for the three months ended September 30, 2023[19]. Asset and Loan Growth - Total assets as of September 30, 2024, were $1,785,033 thousand, a decrease of 1.3% from $1,809,215 thousand on June 30, 2024, and an increase of 11.9% from $1,591,902 thousand on September 30, 2023[14]. - Total loans increased to $1,002,241 thousand as of September 30, 2024, up 1.3% from $989,898 thousand on June 30, 2024, and up 17.9% from $849,417 thousand on September 30, 2023[14]. - Gross loans reached $994,876, an increase of 17.9% compared to $843,892 in the same period last year[27]. - Loans increased from June 30, 2024, driven by growth in consumer and commercial real estate loans, with low credit risk metrics[10]. Income and Expenses - Total interest income for the nine months ended September 30, 2024, was $51,805,000, an increase of 19.4% from $43,320,000 in the same period of 2023[21]. - Total noninterest expense increased to $26,388,000, up 16.1% from $22,665,000 in the previous year[22]. - Noninterest income for the nine months ended September 30, 2024, increased due to service charges on deposits and trust income growth[6]. - Noninterest expenses increased due to the FCB acquisition and contract termination expenses, but decreased in Q3 2024 compared to Q2 2024[7]. Credit Losses and Allowances - The provision for credit losses was $1,287,000, compared to a recovery of $(368,000) in the previous year[21]. - The allowance for credit losses decreased to $10,328 thousand as of September 30, 2024, from $10,502 thousand on June 30, 2024, and increased from $10,181 thousand on September 30, 2023[14]. - The allowance for credit losses on loans to total loans ratio stood at 1.03%, down from 1.20% a year ago[29]. Equity and Shareholder Information - Stockholders' equity increased as of September 30, 2024, primarily due to the acquisition and improvement in unrealized losses on securities[11]. - Total shareholders' equity increased to $156,111, up from $126,612 in the same period last year, marking a growth of 23.2%[27]. - Book value per common share increased to $26.38 as of September 30, 2024, from $23.42 on June 30, 2024, and from $19.71 on September 30, 2023[19]. - The weighted average number of common shares outstanding increased to 6,092,468 from 5,889,687, indicating a growth in share count[22]. Efficiency and Margins - The net interest margin improved in Q3 2024 compared to Q2 2024, driven by increased loan yields outpacing deposit costs[5]. - The net interest margin for the nine months ended September 30, 2024, was 2.14%, compared to 2.45% in the same period of 2023[25]. - The efficiency ratio was reported at 69.80%, slightly higher than 67.96% from the previous year[27]. - Adjusted return on average assets (non-GAAP) is 0.42% for the nine months ended September 30, 2024, compared to 0.94% for the same period in 2023[37]. Acquisition Details - The company recorded merger-related expenses of $2.89 million during the nine months ended September 30, 2024, and a provision for credit loss of $1.29 million upon acquiring Frontier Community Bank loans[3]. - The acquisition of Frontier Community Bank totaled $16.35 million, including $14.30 million in common stock and $2.05 million in cash[4].

National Bankshares (NKSH) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of $0.32. This compares to earnings of $0.66 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -115.63%. A quarter ago, it was expected that this holding company for the National Bank of Blacksburg would post earnings of $0.43 per share when it actually produced earnings of $0.37, delivering a surprise of -13.95%. Ove ...

FOR IMMEDIATE RELEASE CONTACTS: F. Brad Denardo, Chairman, President & CEO (540) 951-6213 bdenardo@nbbank.com Lora M. Jones, Treasurer & CFO (540) 951-6238 ljones@nbbank.com National Bankshares, Inc. Reports Results for the First Half of 2024 BLACKSBURG, VA., July 25, 2024 -- National Bankshares, Inc. ("the Company") (Nasdaq: NKSH), parent company of The National Bank of Blacksburg ("the Bank") and National Bankshares Financial Services, Inc., today announced its results of operations for the first half of ...

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 27 full-service offices in southwest and central Virginia, and two loan production offices in Roanoke and Charlottesville, Virginia. National Bankshares Financial Services, Inc. is an investment and insurance subsidiary in the same trade area. The C ...