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National Bankshares, Inc. operates as the bank holding company for the National Bank of Blacksburg that provides retail and commercial banking products and services to individuals, businesses, non-profits, and local governments. The company accepts interest-bearing and non-interest-bearing demand deposit accounts, money market deposit accounts, savings accounts, certificates of deposit, health savings accounts, and individual retirement accounts. Its loan products include commercial non-real estate loans, including commercial and agricultural loans; commercial and consumer real estate loans; residential real estate loans; home equity loans; various consumer loans, such as credit cards, automobile, and other consumer loans; and public sector and IDA loans, as well as loans for the construction of commercial and residential properties. The company also provides business and consumer debit and credit cards; letters of credit, night depository, safe deposit boxes, utility payment services, and automatic funds transfer; wealth management, trust, and estate services; non-deposit investment and insurance products; and telephone, mobile, and Internet banking services, as well as operates automated teller machines. The company was founded in 1891 and is headquartered in Blacksburg, Virginia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $56M | - | $16M | $15M | 8.6% | 22.5% | 107.6% |
| 2024 | $45M | - | $8M | $6M | 4.9% | -2.8% | -51.4% |
| 2023 | $47M | - | $16M | $14M | 11.2% | -21.5% | -39.5% |
| 2022 | $59M | - | $26M | $28M | 21.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 59.43 | 46.64 | 45.36 | 55.56 |
| Pretax Income | 31.76 | 18.68 | 9.12 | 19.17 |
| Tax Provision | 5.83 | 2.98 | 1.50 | 3.34 |
| Net Income | 25.93 | 15.69 | 7.62 | 15.83 |
| Net Income Common Stockholders | 25.93 | 15.69 | 7.62 | 15.83 |
| Interest Expense | 3.08 | 21.55 | 33.72 | 29.75 |
| Interest Income | 50.11 | 58.83 | 70.03 | 75.31 |
| Selling General And Administration | 17 | 18.07 | 19.99 | 21.69 |
| Normalized Income | 25.93 | 15.69 | 10.06 | 15.83 |
| Basic EPS | 4.33 | 2.66 | 1.24 | 2.49 |
| Diluted EPS | 4.33 | 2.66 | 1.24 | 2.49 |
| Tax Effect Of Unusual Items | 0 | 0 | -0.48 | 0 |
| Tax Rate For Calcs | 0.18 | 0.16 | 0.16 | 0.17 |
| Total Unusual Items | 0 | 0 | -2.92 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | -2.92 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 25.93 | 15.69 | 7.62 | 15.83 |
| Reconciled Depreciation | 0.61 | 0.75 | 1.14 | 1.47 |
| Net Interest Income | 47.03 | 37.28 | 36.31 | 45.56 |
| Net Income From Continuing And Discontinued Operation | 25.93 | 15.69 | 7.62 | 15.83 |
| Diluted Average Shares | 5.99 | 5.89 | 6.16 | 6.36 |
| Basic Average Shares | 5.99 | 5.89 | 6.16 | 6.36 |
| Diluted NI Availto Com Stockholders | 25.93 | 15.69 | 7.62 | 15.83 |
| Net Income Including Noncontrolling Interests | 25.93 | 15.69 | 7.62 | 15.83 |
| Net Income Continuous Operations | 25.93 | 15.69 | 7.62 | 15.83 |
| Special Income Charges | 0 | 0 | -2.92 | 0 |
| Restructuring And Mergern Acquisition | 0 | 0 | 2.92 | 0 |
| Gain On Sale Of Security | 3.82 | -0.36 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | 0 | 0 | 0.24 | 0.37 |
| Depreciation And Amortization In Income Statement | 0 | 0 | 0.24 | 0.37 |
| Amortization | 0 | 0 | 0.24 | 0.37 |
| Amortization Of Intangibles Income Statement | 0 | 0 | 0.24 | 0.37 |
| General And Administrative Expense | 17 | 18.07 | 19.99 | 21.69 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 0.48 | 0.75 | 0.81 | 0.83 |
| Salaries And Wages | 16.52 | 17.32 | 19.18 | 20.86 |
| Operating Revenue | 59.43 | 46.64 | 45.36 | 55.56 |
| Occupancy And Equipment | 1.93 | 2 | 2.65 | 3.08 |
| Professional Expense And Contract Services Expense | 1 | 1.74 | 1.05 | 1.45 |
| Other Non Interest Expense | 7.03 | 7.42 | 8.16 | 9.83 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| National Bankshares, Inc.this co. | NKSH | $228M | 12.95↑ premium | 1.23 | 8.6% | - |
| First United Corporation | FUNC | $239M | 9.50 | 1.17 | 12.0% | - |
| Security National Financial Corporation | SNFCA | $238M | 7.63 | 0.58 | 7.8% | 4.28 |
| Hawthorn Bancshares, Inc. | HWBK | $232M | 9.82 | 1.33 | 13.7% | - |
| LCNB Corp. | LCNB |
| $231M |
| 10.07 |
| 0.84 |
| 8.4% |
| - |
| Virginia National Bankshares Corporation | VABK | $229M | 11.44 | 1.24 | 10.5% | - |
| FinWise Bancorp | FINW | $218M | 14.09 | 1.13 | 8.3% | - |
| Meridian Corporation | MRBK | $218M | 8.87 | 1.07 | 10.9% | - |
| Medallion Financial Corp. | MFIN | $218M | 5.20 | 0.51 | 9.2% | 13.46 |
| Peer Median | - | 9.66 | 1.10 | 9.8% | 8.87 | |