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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000796534-99-000012.txt : 19990623
<SEC-HEADER>0000796534-99-000012.hdr.sgml : 19990623
ACCESSION NUMBER:		0000796534-99-000012
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19990524
ITEM INFORMATION:		
FILED AS OF DATE:		19990524

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL BANKSHARES INC
		CENTRAL INDEX KEY:			0000796534
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				541375874
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		
		SEC FILE NUMBER:	000-15204
		FILM NUMBER:		99632979

	BUSINESS ADDRESS:	
		STREET 1:		100 SOUTH MAIN ST
		CITY:			BLACKSBURG
		STATE:			VA
		ZIP:			24062-9002
		BUSINESS PHONE:		5405522011

	MAIL ADDRESS:	
		STREET 1:		100 SOUTH MAIN STREET
		STREET 2:		PO BOX 90002
		CITY:			BLACKSBURG
		STATE:			VA
		ZIP:			24062-9002
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<DESCRIPTION>ANNOUNCEMENT
<TEXT>




                      SECURITIES AND EXCHANGE COMMISSION

                            WASHINGTON, D. C. 20549


                                ---------------

                                   FORM 8-K

                                CURRENT REPORT

                      PURSUANT TO SECTION 13 OR 15(d) OF

                      THE SECURITIES EXCHANGE ACT OF 1934

                                ---------------



Date of Report (Date of Earliest Event Reported):  May 24, 1999


                           NATIONAL BANKSHARES, INC.
- ------------------------------------------------------------------------------
            (Exact name of Registrant as specified in its charter)


  Virginia               0-15204                             54-1375874
- ------------------------------------------------------------------------------
(State or other          (Commission                         (IRS Employer
jurisdiction of          File Number)                      Identification No.)
incorporation)


          P.O. Box 90002
          Blacksburg, Virginia                                24062-9002
- ------------------------------------------------------------------------------
     (Address of principal executive offices)                  (Zip Code)



Registrant's telephone number, including area code: (540) 552-2011




                               Page 1 of 2 Pages<PAGE>


Item 5    Other Events
          ------------

                  NATIONAL BANKSHARES FINISHES STOCK BUYBACK


     James G. Rakes, Chairman,  President & CEO of National  Bankshares, Inc.,
today reported  a successful  conclusion to  the stock tender  offer that  was
announced on March 15.  Mr. Rakes said, "We have completed the repurchase of a
total of  275,856 shares of our  company's common stock, at  $28.00 per share.
Our tender was  so successful that  we had more shares  tendered than we  were
permitted to  purchase, and  we had  to  prorate some  tenders.   We are  very
excited about  the success of this stock repurchase  plan.  It is an excellent
use of  the abundant capital of  National Bankshares, and we  believe that the
stock   repurchase  is  consistent  with  our  long-term  goal  of  increasing
shareholder value."

     National Bankshares, Inc.  is the  parent company of  The National  Bank,
headquartered  in Blacksburg,  and  of Bank  of  Tazewell County,  located  in
Tazewell.   Together, the two banks  have 16 offices in  Montgomery, Giles and
Tazewell  counties and in  the cities of  Galax and Bluefield,  Virginia.  The
company s stock is traded over the counter with the trading symbol "NKSH".



                              FOR FURTHER INFORMATION, PLEASE CONTACT:
                                        Marilyn B. Buhyoff
                                        Secretary & Counsel
                                        P.O. Box 90002
                                        Blacksburg, VA  24062-9002
                                        (540)  951-6331
                                        mbuhyoff@nbbank.com<PAGE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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