National Bankshares, Inc. Reports Increased Net Income for
the First Three Quarters of 2012
BLACKSBURG, VA, October 18, 2012: Today, National
Bankshares, Inc. (NASDAQ Capital Market: NKSH) announced net
income of approximately $13.06 million through September 30,
2012, up $313 thousand, or 2.46%, above the total reported
for the first nine months of 2011. Basic earnings per share
were $1.88, which compares with $1.84 reported at September
30, 2011. At September 30, 2012, the Company had total assets
of $1.08 billion, an increase of 3.73% in total assets since
the end of September 2011.
National Bankshares' Chairman, President & CEO James G.
Rakes commented, "While economic factors combined with
increased regulatory burden and political uncertainty
continue to challenge our market area and the financial
industry, our consistent focus on providing our customers the
best services and products available continues to bring
successful results to our stockholders."
National Bankshares, Inc., headquartered in Blacksburg,
Virginia, is the parent company of National Bank of
Blacksburg, which does business as National Bank, and of
National Bankshares Financial Services, Inc. National Bank is
a community bank operating from 25 offices throughout
Southwest Virginia. National Bankshares Financial Services,
Inc. is an investment and insurance subsidiary in the same
trade area. The Company's stock is traded on the NASDAQ
Capital Market under the symbol "NKSH."
Certain statements in this press release may be
"forward-looking statements." Forward-looking
statements are statements that include projections,
predictions, expectations or beliefs about future events or
results that are not statements of historical fact and that
involve significant risks and uncertainties. Although the
Company believes that its expectations with regard to
forward-looking statements are based upon reasonable
assumptions within the bounds of its existing knowledge of
its business and operations, there can be no assurance that
actual Company results will not differ materially from any
future results implied by the forward-looking statements.
Actual results may be materially different from past or
anticipated results because of many factors, some of which
may include changes in economic conditions, the interest rate
environment, legislative and regulatory requirements, new
products, competition, changes in the stock and bond markets
and technology. The Company does not update any
forward-looking statements that it may make.