National Bankshares Q2 net income falls 30% to $3.9M; EPS $0.66 vs $0.93

NATIONAL BANKSHARES INC

2023-Q2 EPS reported $1.43 revenue$3,535,000

Net income $3.9M ($0.66 EPS) vs $5.57M ($0.93 EPS) in Q2 2022, down 30%.
Six-month net income $8.43M ($1.43 EPS) vs $10.46M ($1.74 EPS) year ago.
Net interest margin compressed due to rising deposit costs outpacing loan yields.
Noninterest income boosted by $2.97M gain on VISA stock sale and $1.04M BOLI payout, offset by $3.34M loss on securities sale.
Paid $0.73 semiannual dividend in June plus $1.00 special dividend in Q1; total payout ratio 120.84% for H1 2023.

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 0.9

NATIONAL BANKSHARES INC reported the second quarter and first half of 2023 results: net income $3.90 million, or basic earnings per common share of $0.66, for the second quarter and $8.43 million, or basic earnings.

Period: the second quarter and first half of 2023
Net income: $3.90 million, or basic earnings per common share of $0.66, for the second quarter and $8.43 million, or basic earnings
Result: reported results

Exact text from the filing

On July 20, 2023, National Bankshares, Inc. issued a press release reporting its financial results for the period ended June 30, 2023.

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Source: SEC EDGAR

accession 0001437749-23-020344

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