secwatch.observer — SEC 8-K summary
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Issuer:     NATIONAL BANKSHARES INC (NKSH)
CIK:        0000796534
Form:       8-K
Filed at:   2023-04-20T23:59:59+00:00
Accession:  0001437749-23-010747
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/796534/000143774923010747/0001437749-23-010747-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/796534/000143774923010747/nksh20230420_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-010747

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