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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000796534-03-000008.txt : 20030721
<SEC-HEADER>0000796534-03-000008.hdr.sgml : 20030721
<ACCEPTANCE-DATETIME>20030721124057
ACCESSION NUMBER:		0000796534-03-000008
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030721
ITEM INFORMATION:		Other events
FILED AS OF DATE:		20030721

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:		1934 Act
		SEC FILE NUMBER:	000-15204
		FILM NUMBER:		03794159

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 90002
		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
<FILENAME>form8k.txt
<DESCRIPTION>FORM 8K
<TEXT>
                                  UNITED STATES
                       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: July 21, 2003       Commission File Number: 0-15204

                            National Bankshares, Inc.
- --------------------------------------------------------------------------------
             (Exact name of Registrant as specified in its charter)


        Virginia                                  54-1375874
- ---------------------                       -----------------------
(State or other jurisdiction of       (I.R.S. Employer Identification No.)
incorporation or organization)


    101 Hubbard Street
    Blacksburg, VA 24060
- ----------------------------------------
(Address of principal executive offices)

Registrant's telephone number, including area code (540) 951-6300
                                                   --------------



                                       1
                                     <PAGE>


ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE

        On July 21, 2003, National Bankshares, Inc. issued a press release
announcing the Company's inclusion in the Russell (R) 3000 Index. A copy of the
press release is attached as Exhibit 99.1.


Exhibit
99.1    National Bankshares, Inc. Press
        Release dated July 21, 2003.



                                    SIGNATURE

        Pursuant to the requirements of the Securities and Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                    NATIONAL BANKSHARES, INC.


                                    By: /s/ James G. Rakes
                                        --------------------------------------
                                         James G. Rakes
                                         Chairman
                                         President and Chief Executive Officer




                                       2


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>pressrelease.txt
<DESCRIPTION>RUSSELL INDEX PRESS RELEASE
<TEXT>
FOR IMMEDIATE RELEASE

CONTACTS:      James G. Rakes, Chairman, President & CEO   (540) 951-6236
               J. Robert Buchanan, Treasurer               (276) 979-0341


                            NATIONAL BANKSHARES, INC.
                         INCLUEDED IN RUSSELL 3000 INDEX


BLACKSBURG, VA, JULY 21, 2003: National Bankshares, Inc. (Nasdaq SmallCap
Market: NKSH) was recently added by The Frank Russell Company to the Russell
3000(R) Index. The Index includes the 3,000 largest publicly traded companies in
the United States, as measured by market capitalization. It is adjusted each
year based upon companies' stock performance, and changes are announced in July.
The Russell indexes are often used by investment managers of stock index funds
to purchase shares of companies named in the listing.

"We are very pleased to be included on the nationally-known Russell 3000 (R)
Index," commented James G. Rakes, Chairman, President and CEO of National
Bankshares. "This brings additional recognition and visibility to our company,
and hopefully it will be a positive development for our stockholders over the
long term. We especially appreciate the support of our stockholders, because it
is their confidence that has brought National Bankshares to this milestone."

National Bankshares, Inc. is a financial holding company. It is the parent
company of two historic community banks serving Southwest Virginia with a total
of twenty-three branch offices. The National Bank, with its main office in
Blacksburg, was chartered in 1891, and Bank of Tazewell County, headquartered in
Tazewell, was founded in 1889. The company also has a non-bank subsidiary,
National Bankshares Financial Services, that offers investment and insurance
products in its market area. National Bankshares, Inc. stock is traded on the
Nasdaq Stock Market under the symbol "NKSH". More information is available on
the company's web site at www.nationalbankshares.com.




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