---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-010747"
form_type: "8-K"
ticker: "NKSH"
cik: "0000796534"
company_name: "NATIONAL BANKSHARES INC"
filed_at: "2023-04-20T23:59:59+00:00"
generated_at: "2026-06-16T23:05:39.822247+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-010747
- form_type: 8-K
- ticker: NKSH
- cik: 0000796534
- company_name: NATIONAL BANKSHARES INC
- filed_at: 2023-04-20T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/796534/000143774923010747/0001437749-23-010747-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/796534/000143774923010747/nksh20230420_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-010747
- JSON: https://secwatch.observer/filing/0001437749-23-010747.json
- Plain text: https://secwatch.observer/filing/0001437749-23-010747.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/796534/000143774923010747/0001437749-23-010747-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.