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what it is
National Bankshares is a community bank that takes local deposits, makes loans, and sells some insurance and investment products.
how it gets paid
Last year National Bankshares made $70M in revenue. retail banking was the main engine at $24M, or 34% of sales.
what just happened
The latest quarter put up $56M in revenue and $1.56 of EPS, but those figures conflict with Yahoo's last reported $0.69 EPS print.
At a glance
B+ balance sheet — decent shape, but not bulletproof
55/100 earnings predictability — expect surprises
16.7x trailing p/e — the market's not buying it — or you found a deal
4.2% dividend yield — cash in your pocket every quarter
$1.24 fy2024 eps est
xvary composite: 64/100 — average
What they do
National Bankshares is a community bank that takes local deposits, makes loans, and sells some insurance and investment products.
This is old-school community banking with actual roots. National Bank of Blacksburg runs 28 locations, 25 ATMs, and one loan office across southwest and central Virginia, with $1.6 billion of deposits at September 30, 2025. Scale loses to proximity here. When your business account, mortgage, and local lender all sit in one bank, leaving is annoying.
How they make money
$70M
annual revenue
retail banking
$24M
flat
commercial banking
$22M
up
government and nonprofit banking
$12M
flat
mortgage and consumer lending
$9M
dn
insurance and investment services
$3M
flat
The products that matter
funding the balance sheet
Deposit Accounts
core banking franchise
This is the fuel source for the bank. At a $236M market cap and a 4.2% dividend yield, stable deposits matter because they keep funding costs from eating the spread.
funding base
earning the spread
Commercial & Consumer Loans
drives most income
Higher loan yields were the main reason Q3 2025 EPS reached $0.84 versus a $0.66 consensus estimate. That tells you where the quarter was won.
margin lever
fee-based banking
Trust Services
part of $4.6M non-interest income
This is the smaller, steadier side of the bank. Non-interest income is only $4.6M in the figures shown here, which means trust services help diversify revenue but do not drive the thesis.
small offset
Key numbers
4.2%
dividend yield
You are being paid while you wait, and 4.2% is high versus many small banks with weaker income support.
16.7x
trailing p/e
P/E → price-to-earnings → what investors pay for each dollar of profit. At 16.7x, this is not bargain-bin cheap for a bank with falling EPS.
$1.6B
deposits
Deposits fund loans. That $1.6 billion base matters more than the marketing copy because it shows real customer trust.
$1.24
2024 eps
EPS → earnings per share → your slice of profit. It fell from $2.66 in 2023 to $1.24 in 2024, which explains the debate.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 2 — safer than 80% of stocks
- price stability 65 / 100
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for NKSH right now.
source: institutional data · return history unavailable
What just happened
beat estimates
The latest quarter put up $56M in revenue and $1.56 of EPS, but those figures conflict with Yahoo's last reported $0.69 EPS print.
EDGAR-backed data shows revenue up 193% vs. prior year and EPS up 126% vs. prior year in the latest quarter. The quiet part: investors need to reconcile that strength with Value Line's much weaker full-year 2024 EPS of $1.24.
$56M
revenue
$1.56
eps
+193%
vs. last year revenue growth
the number that mattered
$56 million matters because it is 80% of the company's entire $70 million trailing annual revenue base, which tells you the data set has major quarter-to-quarter noise.
source: company earnings report, 2026
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What could go wrong
The top risk is margin compression at a Southwest Virginia community bank under new leadership.
med
Interest rate sensitivity
Net interest income is $26.2M out of the $30.8M revenue mix shown here. If deposit costs rise faster than loan yields, the spread narrows and most of the earnings story narrows with it.
This risk touches roughly 85% of the revenue mix shown on the page.
med
CEO transition
F. Brad Denardo retired on June 30, 2025. New CEO Lara E. Ramsey does not get a long grace period at a bank this size — strategy changes show up fast in deposit pricing, loan growth, and expense control.
Execution risk is elevated because management change and earnings volatility are happening at the same time.
low
Geographic concentration
This is a Southwest Virginia bank. That local focus can help relationships, but it also means one regional slowdown can hit loans, deposits, and credit quality at once.
You do not have broad geographic diversification to offset a local downturn.
med
Dividend relying on lower earnings
A 4.2% yield looks good. It looks less comfortable when last year's profit was only $7.6M after a 51% decline.
If earnings do not stabilize, the yield stops feeling like a cushion and starts feeling like a question.
The income case depends on a bank with $7.6M of last-year profit keeping its spread intact while a new CEO takes over. That is specific risk, not generic bank risk.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
Net interest margin follow-through
Q3 worked because higher loan yields and lower deposit costs improved the spread. If that reverses, most of the earnings beat reverses with it.
calendar
Q1 2026 results
Next report is expected April 23, 2026. Consensus points to $0.66 EPS on $11.92M revenue.
risk
New CEO execution
Watch for how Lara E. Ramsey talks about deposit pricing, loan growth, and credit discipline. At a bank this small, strategy gets measured in quarters, not years.
trend
Dividend durability
The next semi-annual dividend of $0.78 per share was scheduled for December 1, 2025. The bigger question from here is whether earnings keep covering that payout comfortably.
Analyst rankings
earnings predictability
55 / 100
Earnings are middling on predictability. In human-speak, analysts do not view this as a smooth compounding story.
risk rank
2
That means safer than roughly 80% of stocks on this system. In human-speak, the balance sheet is better behaved than the earnings line.
source: institutional data
Institutional activity
institutional ownership data for NKSH is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$34
current price
n/a
target midpoint · n/a from current
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