National Bankshares, Inc. (NKSH) 10-Year Financial Performance & Capital Metrics

NKSH • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingSoutheast Community Banks

AboutNational 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 and agricultural, commercial real estate, residential real estate, home equity, and various consumer loan products, 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 services, 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. It operates 23 branch offices, a loan production office, and 22 automated teller machines in Southwest Virginia. National Bankshares, Inc. was founded in 1891 and is headquartered in Blacksburg, Virginia.Show more

Net Interest Income $36M -2.4%
Total Revenue $79M +16.0%
Net Income $8M -51.4%
Return on Equity 5.13% -56.9%
Net Interest Margin 2.01% -10.8%
Efficiency Ratio 44.27% +3.3%
ROA 0.44% -53.3%
Equity / Assets 8.63% +1.7%
Book Value per Share 25.38 +6.4%
Tangible BV/Share 23.34 +2.1%
Debt/Equity -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 44.3% efficiency ratio
✓Healthy dividend yield of 4.4%
✓Trading near 52-week high
✓Trading at only 1.4x book value

✗Weaknesses

✗Profits declining 15.3% over 5 years
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.59%

5Y7.95%

3Y13.98%

TTM-

Profit (Net Income) CAGR

10Y-7.66%

5Y-15.28%

3Y-27.95%

TTM-1.43%

EPS CAGR

10Y-6.51%

5Y-14.09%

3Y-27.69%

TTM40.78%

ROCE

10Y Avg10.96%

5Y Avg11.59%

3Y Avg12.49%

Latest5.78%

Peer Comparison

Southeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FFINFirst Financial Bankshares, Inc.	4.68B	32.65	20.93	18.79%	30.24%	14.14%	6.26%	0.12
FHNFirst Horizon Corporation	11.85B	24.44	17.97	4.71%	15.7%	9.58%	10.33%	0.50
AUBAtlantic Union Bankshares Corporation	5.47B	38.36	17.13	28.8%	15.53%	4.22%	5.51%	0.17
UCBUnited Community Banks, Inc.	4.09B	33.91	16.62	14.65%	17.05%	8.83%	7.4%	0.13
SNVSynovus Financial Corp.	6.95B	50.05	16.52	1.16%	14.09%	13.7%	11.01%	0.35
PNFPPinnacle Financial Partners, Inc.	14.67B	97.65	16.38	15.32%	16.65%	9.1%	5.5%	0.39
CADECadence Bank	8.27B	44.40	16.03	32.37%	18.03%	9.08%	9.39%	0.01
ABCBAmeris Bancorp	5.56B	81.41	15.69	9.75%	21.97%	9.91%	2.53%	0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	38.73M	36.76M	37.13M	38.18M	37.77M	38.17M	41.89M	47.03M	37.28M	36.4M
NII Growth %	-0.01%	-0.05%	0.01%	0.03%	-0.01%	0.01%	0.1%	0.12%	-0.21%	-0.02%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	42.91M	40.93M	41.26M	43.22M	45.15M	44.01M	44.99M	50.11M	58.83M	70.12M
Interest Expense	4.18M	4.17M	4.13M	5.05M	7.38M	5.84M	3.1M	3.08M	21.55M	33.73M
Loan Loss Provision	2.01M	1.65M	157K	-81K	126K	1.99M	-398K	706K	-1.26M	1.23M
Non-Interest Income+	6.79M	7.12M	7.64M	7.73M	8.79M	7.94M	8.43M	12.4M	9.36M	8.96M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	49.71M	48.05M	48.9M	50.95M	53.94M	51.95M	53.41M	62.51M	68.19M	79.08M
Revenue Growth %	-0.02%	-0.03%	0.02%	0.04%	0.06%	-0.04%	0.03%	0.17%	0.09%	0.16%
Non-Interest Expense	22.94M	23.34M	24.23M	27.28M	25.75M	24.97M	26.08M	26.96M	29.23M	35.01M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	20.57M	18.89M	20.39M	18.71M	20.68M	19.15M	24.63M	31.76M	18.68M	9.12M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.07%	-0.08%	0.08%	-0.08%	0.11%	-0.07%	0.29%	0.29%	-0.41%	-0.51%
Pretax Income+	20.57M	18.89M	20.39M	18.71M	20.68M	19.15M	24.63M	31.76M	18.68M	9.12M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	4.74M	3.95M	6.29M	2.56M	3.21M	3.08M	4.25M	5.83M	2.98M	1.5M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	15.83M	14.94M	14.09M	16.15M	17.47M	16.08M	20.38M	25.93M	15.69M	7.62M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.06%	-0.06%	-0.06%	0.15%	0.08%	-0.08%	0.27%	0.27%	-0.39%	-0.51%
Net Income (Continuing)	15.83M	14.94M	14.09M	16.15M	17.47M	16.08M	20.38M	25.93M	15.69M	7.62M
EPS (Diluted)+	2.28	2.15	2.03	2.32	2.65	2.48	3.28	4.33	2.66	1.24
EPS Growth %	-0.06%	-0.06%	-0.06%	0.14%	0.14%	-0.06%	0.32%	0.32%	-0.39%	-0.53%
EPS (Basic)	2.28	2.15	2.03	2.32	2.65	2.48	3.28	4.33	2.66	1.24
Diluted Shares Outstanding	6.96M	6.96M	6.96M	6.96M	6.58M	6.48M	6.21M	5.99M	5.89M	6.16M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	142.96M	94.24M	64.16M	56.37M	87.17M	133.87M	138.79M	71.43M	86.6M	107.82M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	999.5M	1.08B	1.12B	1.13B	1.16B	1.31B	1.48B	1.5B	1.47B	1.58B
Investments Growth %	0.02%	0.08%	0.04%	0.01%	0.03%	0.12%	0.13%	0.01%	-0.02%	0.08%
Long-Term Investments	763.37M	774.89M	787.57M	702.48M	727.49M	761.18M	796.19M	844.52M	847.96M	1.55B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	5.85M	5.85M	5.85M	5.85M	5.85M	5.85M	5.85M	5.85M	5.85M	10.72M
Intangible Assets	376K	118K	50K	0	0	0	0	0	0	1.86M
PP&E (Net)	9.02M	8.85M	8.22M	8.65M	8.92M	10.04M	9.72M	10.37M	11.11M	16.88M
Other Assets	40.04M	40.45M	54.23M	52.51M	52.86M	56.96M	60.44M	82.53M	78.94M	87.69M
Total Current Assets	384.86M	403.78M	400.84M	486.54M	526.72M	685.64M	829.97M	734.28M	711.52M	147.97M
Total Non-Current Assets	818.66M	830.16M	855.91M	769.49M	795.12M	834.03M	872.2M	943.27M	943.85M	1.66B
Total Assets+	1.2B	1.23B	1.26B	1.26B	1.32B	1.52B	1.7B	1.68B	1.66B	1.81B
Asset Growth %	0.04%	0.03%	0.02%	-0%	0.05%	0.15%	0.12%	-0.01%	-0.01%	0.09%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%	0%
Accounts Payable	56K	55K	62K	89K	144K	56K	48K	106K	1.42M	1.46M
Total Debt+	0	0	0	0	0	0	0	0	0	0
Net Debt	-142.96M	-94.24M	-64.16M	-56.37M	-87.17M	-133.87M	-138.79M	-71.43M	-86.6M	-107.82M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	12.49M	12.18M	12.06M	13.76M	18.21M	21.87M	15.79M	12.03M	9.46M	9.01M
Total Current Liabilities	1.02B	1.04B	1.06B	1.05B	1.12B	1.3B	1.49B	1.54B	1.51B	1.65B
Total Non-Current Liabilities	12.49M	12.18M	12.06M	13.76M	18.21M	21.87M	15.79M	12.03M	9.46M	9.01M
Total Liabilities	1.03B	1.06B	1.07B	1.07B	1.14B	1.32B	1.51B	1.55B	1.51B	1.66B
Total Equity+	172.11M	178.26M	184.9M	190.24M	183.73M	200.61M	191.75M	122.69M	140.52M	156.41M
Equity Growth %	0.03%	0.04%	0.04%	0.03%	-0.03%	0.09%	-0.04%	-0.36%	0.15%	0.11%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.09%	0.08%	0.09%	0.09%	0.08%	0.1%	0.16%	0.12%	0.05%
Book Value per Share	24.74	25.62	26.57	27.34	27.92	30.94	30.88	20.48	23.86	25.38
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	8.7M	8.7M	8.7M	8.7M	8.11M	8.04M	7.58M	7.36M	7.4M	21.83M
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	171.35M	178.22M	185.89M	193.62M	184.12M	189.55M	188.23M	199.09M	197.98M	196.34M
Accumulated OCI	-7.94M	-8.66M	-9.7M	-12.09M	-8.51M	3.02M	-4.06M	-83.77M	-64.87M	-61.77M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	20.53M	17.53M	10.99M	19.77M	18.83M	13.79M	22.88M	29.5M	15.52M	9.44M
Operating CF Growth %	0.01%	-0.15%	-0.37%	0.8%	-0.05%	-0.27%	0.66%	0.29%	-0.47%	-0.39%
Net Income	15.83M	14.94M	14.09M	16.15M	17.47M	16.08M	20.38M	25.93M	15.69M	7.62M
Depreciation & Amortization	1.75M	1.06M	873K	816K	739K	708K	636K	609K	754K	1.14M
Deferred Taxes	10K	18K	3.35M	-382K	529K	282K	152K	-109K	750K	-884K
Other Non-Cash Items	1.45M	610K	-4.86M	-256K	-1.96M	-2.51M	290K	1.91M	1.76M	3.43M
Working Capital Changes	1.49M	905K	-2.47M	3.45M	2.06M	-760K	1.06M	1.16M	-3.48M	-2M
Cash from Investing+	-49.95M	-32.22M	-20.19M	-3.63M	-61.68M	-177.6M	-193.25M	-129.71M	53.19M	15.79M
Purchase of Investments	-80.09M	-290.3M	-41.61M	-25.32M	-352.5M	-241.16M	-219.33M	-117.34M	0	0
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	6.9M
Other Investing	-43.67M	20.77M	-1.41M	-34.21M	-57.26M	-79.52M	-38.85M	-49.74M	-3.04M	-13.4M
Cash from Financing+	28.67M	16.51M	8.15M	-16.21M	40.25M	166.67M	175.28M	32.85M	-53.54M	-3.71M
Dividends Paid	-7.93M	-8.07M	-8.14M	-8.42M	-9.03M	-9M	-8.81M	-8.95M	-14.78M	-9.26M
Share Repurchases	0	0	0	0	-18.52M	-1.72M	-13.35M	-6.34M	0	0
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	0	0	0	0	0	0	0	-1000K
Other Financing	36.6M	24.58M	16.29M	-7.79M	67.81M	177.39M	197.44M	48.14M	-38.75M	10.78M
Net Change in Cash+	-742K	1.82M	-1.05M	-44K	-2.59M	2.86M	4.92M	-67.36M	15.17M	21.51M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	12.89M	12.15M	13.97M	12.93M	12.88M	10.29M	133.87M	138.79M	71.43M	86.6M
Cash at End	12.15M	13.97M	12.93M	12.88M	10.29M	13.15M	138.79M	71.43M	86.6M	108.12M
Interest Paid	4.2M	4.17M	4.12M	5.02M	7.33M	5.92M	3.11M	3.02M	20.24M	33.68M
Income Taxes Paid	4.79M	3.94M	4.09M	1.78M	2.54M	3.86M	3.18M	3.86M	2.54M	715K
Free Cash Flow+	19.87M	16.9M	10.73M	18.58M	17.8M	11.97M	22.56M	28.24M	14.03M	6.18M
FCF Growth %	-0%	-0.15%	-0.36%	0.73%	-0.04%	-0.33%	0.88%	0.25%	-0.5%	-0.56%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.36%	8.53%	7.76%	8.61%	9.34%	8.37%	10.39%	16.49%	11.92%	5.13%
Return on Assets (ROA)	1.34%	1.23%	1.13%	1.29%	1.36%	1.13%	1.27%	1.53%	0.94%	0.44%
Net Interest Margin	3.22%	2.98%	2.95%	3.04%	2.86%	2.51%	2.46%	2.8%	2.25%	2.01%
Efficiency Ratio	46.16%	48.57%	49.55%	53.53%	47.75%	48.06%	48.83%	43.13%	42.86%	44.27%
Equity / Assets	14.3%	14.45%	14.71%	15.15%	13.9%	13.2%	11.27%	7.31%	8.49%	8.63%
Book Value / Share	24.74	25.62	26.57	27.34	27.92	30.94	30.88	20.48	23.86	25.38
NII Growth	-0.8%	-5.08%	1.01%	2.81%	-1.07%	1.07%	9.74%	12.26%	-20.72%	-2.38%
Dividend Payout	50.09%	54.02%	57.77%	52.13%	51.71%	55.98%	43.2%	34.51%	94.22%	121.53%

Frequently Asked Questions

Valuation & Price

National Bankshares, Inc. (NKSH) has a price-to-earnings (P/E) ratio of 27.8x. This suggests investors expect higher future growth.

Growth & Financials

National Bankshares, Inc. (NKSH) grew revenue by 16.0% over the past year. This is strong growth.

Yes, National Bankshares, Inc. (NKSH) is profitable, generating $8.6M in net income for fiscal year 2024 (9.6% net margin).

Dividend & Returns

Yes, National Bankshares, Inc. (NKSH) pays a dividend with a yield of 4.37%. This makes it attractive for income-focused investors.

National Bankshares, Inc. (NKSH) has a return on equity (ROE) of 5.1%. This is below average, suggesting room for improvement.

Industry Metrics

National Bankshares, Inc. (NKSH) has a net interest margin (NIM) of 2.0%. NIM has been under pressure due to interest rate environment.

National Bankshares, Inc. (NKSH) has an efficiency ratio of 44.3%. This is excellent, indicating strong cost control.

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