{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-013660","form_type":"8-K","ticker":"NKSH","cik":"0000796534","company_name":"NATIONAL BANKSHARES INC","filed_at":"2024-01-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.943032+00:00","generated_at":"2026-06-06T19:38:00.025428+00:00","sec_items":["1.01","5.02","5.03","7.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"National Bankshares to acquire Frontier Community Bank for $14.48/share or 0.4250 NKSH shares","bullets":["Per share consideration: $14.48 cash or 0.4250 NKSH shares; overall mix targeted at 90% stock, 10% cash.","Closing expected in Q2 2024, subject to regulatory approvals, FCB shareholder vote (>2/3), and S-4 effectiveness.","NKSH board expands to 12 members; appoints a current FCB director post-closing; Lara Ramsey appointed director immediately.","All FCB directors and executive officers entered support agreements to vote in favor and 12-month non-compete.","Termination fee of $685,000 payable by FCB if it accepts a superior proposal."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-013660","json":"https://secwatch.observer/filing/0001193125-24-013660.json","markdown":"https://secwatch.observer/filing/0001193125-24-013660.md","text":"https://secwatch.observer/filing/0001193125-24-013660.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/796534/000119312524013660/0001193125-24-013660-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/796534/000119312524013660/d745467d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T19:38:00.025428+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"715493e04c","claim":"Lara E. Ramsey was appointed as Director at NATIONAL BANKSHARES INC.","evidence_excerpt":"On January 23, 2024, the Company’s Board of Directors appointed Lara E. Ramsey as a new director of the Company, effective immediately.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/796534/000119312524013660/0001193125-24-013660-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"2b3270dca8511a29cdeb7e411f3144457ab0064b","claim":"NATIONAL BANKSHARES INC: Amended Bylaws to increase board size from 11 to 12 and raise director renomination age limit from 73 to 75 (effective 2024-01-23).","evidence_excerpt":"On January 23, 2024, the Company’s Board of Directors adopted amendments to Article II, Section 2.2 of the Company’s Bylaws, effective immediately, to (i) increase the number of directors of the Company from 11 to 12 and (ii) change the age limit for a director to be renominated to the Board from 73 to 75.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/796534/000119312524013660/0001193125-24-013660-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"bylaw amendment"},{"label":"Effective","value":"2024-01-23"}],"fact_type":"governance_change"},{"claim_id":"dfdc98f22698a2b869e154b4d56aac07226f48ed","claim":"NATIONAL BANKSHARES INC entered into Agreement and Plan of Merger with Frontier Community Bank (effective 2024-01-23).","evidence_excerpt":"On January 23, 2024, National Bankshares, Inc., a Virginia corporation (the “Company”), The National Bank of Blacksburg, a national banking association and wholly-owned bank subsidiary of the Company (the “Bank”), and Frontier Community Bank, a Virginia chartered commercial bank (“FCB”), entered into an Agreement and Plan of Merger (the “Merger Agreement”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/796534/000119312524013660/0001193125-24-013660-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"Frontier Community Bank"},{"label":"Effective","value":"2024-01-23"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}