secwatch.observer — SEC 8-K summary
======================================

Issuer:     NATIONAL BANKSHARES INC (NKSH)
CIK:        0000796534
Form:       8-K
Filed at:   2023-07-20T23:59:59+00:00
Accession:  0001437749-23-020344
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/796534/000143774923020344/0001437749-23-020344-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/796534/000143774923020344/nksh20230719_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-020344

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer