---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-002199"
form_type: "8-K"
ticker: "NKSH"
cik: "0000796534"
company_name: "NATIONAL BANKSHARES INC"
filed_at: "2024-01-25T23:59:59+00:00"
generated_at: "2026-06-06T18:49:21.888755+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# National Bankshares Q4 net income $4.19M ($0.71 EPS) down 55% YoY; announces acquisition of Frontier Community Bank

## Summary
- Net income $4.19M ($0.71 EPS) in Q4 2023 vs $9.31M ($1.57 EPS) in Q4 2022; full-year $15.69M ($2.66 EPS) vs $25.93M ($4.33 EPS).
- Net interest margin compressed due to 525 bps Fed rate hikes; deposit competition raised cost of funds.
- Entered definitive agreement to acquire Frontier Community Bank (Waynesboro, VA); expands into Shenandoah Valley and central Virginia.
- Paid $2.51 per share in dividends in 2023 ($1.51 regular + $1.00 special), payout ratio 94.21%.
- Low credit risk; allowance for credit losses decreased, leading to recovery of provision.

## SEC filing metadata
- accession: 0001437749-24-002199
- form_type: 8-K
- ticker: NKSH
- cik: 0000796534
- company_name: NATIONAL BANKSHARES INC
- filed_at: 2024-01-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/796534/000143774924002199/0001437749-24-002199-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/796534/000143774924002199/nksh20240123_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-002199
- JSON: https://secwatch.observer/filing/0001437749-24-002199.json
- Plain text: https://secwatch.observer/filing/0001437749-24-002199.txt

## Key facts
- Earnings Releases
  NATIONAL BANKSHARES INC reported Fourth quarter and year ended December 31, 2023 results: net income Net income of $4.19 million, or basic and diluted earnings per common share of $0.71, for the fourth quarter and $15.69, EPS Basic and diluted earnings per common share of $0.71 for the fourth quarter and $2.66 for the year ended December 31, 20.
  - Period: Fourth quarter and year ended December 31, 2023
  - Net income: Net income of $4.19 million, or basic and diluted earnings per common share of $0.71, for the fourth quarter and $15.69
  - EPS: Basic and diluted earnings per common share of $0.71 for the fourth quarter and $2.66 for the year ended December 31, 20
  - Result: reported results
  source text: The Company reported net income of $4.19 million, or basic and diluted earnings per common share of $0.71, for the fourth quarter and $15.69 million, or basic and diluted earnings per common share of $2.66, for the year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/796534/000143774924002199/0001437749-24-002199-index.htm

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