NKSH Q1 net income $4.53M ($0.77) vs $4.89M ($0.81) YoY; pays $1 special dividend

NATIONAL BANKSHARES INC

2024-Q1 EPS reported $0.77 revenue$1,842,000

Net income of $4.53M ($0.77 per share) vs $4.89M ($0.81) in Q1 2022; excluding $441K proxy costs, net income would have been $4.88M.
Paid a special one-time cash dividend of $1.00 per common share in Q1 2023.
Total deposits declined 2.03% from Dec 31, 2022; non-municipal uninsured deposits ~24%.
Adopted CECL (ASU 2016-13) effective Jan 1, 2023; allowance increased $2.34M, retained earnings reduced $2.01M.
Securities AFS unrealized loss of $88.22M at March 31, 2023, improved from $103.07M at Dec 31, 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NATIONAL BANKSHARES INC reported the first quarter of 2023 results: net income $4.53 million, EPS $0.77 per common share.

Period: the first quarter of 2023
Net income: $4.53 million
EPS: $0.77 per common share
Result: reported results

Exact text from the filing

National Bankshares, Inc. (“the Company”) (Nasdaq: NKSH), parent company of The National Bank of Blacksburg (“the Bank”), today announced its results of operations for the first quarter of 2023. The Company reported net income for the quarter of $4.53 million, or $0.77 per common share.

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NATIONAL BANKSHARES INC filing history →

Source: SEC EDGAR

accession 0001437749-23-010747

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