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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000796534-04-000005.txt : 20040203
<SEC-HEADER>0000796534-04-000005.hdr.sgml : 20040203
<ACCEPTANCE-DATETIME>20040203150321
ACCESSION NUMBER:		0000796534-04-000005
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040203
ITEM INFORMATION:		Acquisition or disposition of assets
FILED AS OF DATE:		20040203

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:		04562606

	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
<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: February 4, 2004         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
                                                   --------------


                                Page 1 of 2 Pages
                                     <PAGE>


ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE

        On February 04, 2004, National Bankshares, Inc. subsidiary, the National
Bank of Blacksburg (NBB) issued a press release announcing that NBB had reached
agreement with the South Financial Group, Inc. of Greenville, SC, to acquire
substantially all of the assets and certain liabilities of Community National
Bank of Pulaski, Virginia. A copy of the press release is attached as Exhibit
99.1.


Exhibit
99.1    National Bankshares, Inc. Press Release dated February 3, 2004.



                                    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












                           Page 2 of 2 Pages


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex99.txt
<TEXT>

FOR IMMEDIATE RELEASE

CONTACTS:             James G. Rakes, President & CEO          (540) 951-6236
                      Marilyn B. Buhyoff, Sr. V.P. & Counsel   (540) 951-6331

                         THE NATIONAL BANK OF BLACKSBURG
                       TO ACQUIRE COMMUNITY NATIONAL BANK
                                   IN PULASKI

BLACKSBURG, VA, February 3, 2004: The National Bank of Blacksburg (NBB),
headquartered in Blacksburg, Virginia, today announced that it has reached
agreement with The South Financial Group of Greenville, South Carolina, to
purchase substantially all of the assets and assume certain liabilities of
Community National Bank located in Pulaski, Virginia. Community National Bank
now operates one office in Pulaski, and The National Bank currently has 14
branch offices, including two in Pulaski County.

Under the terms of the agreement, The National Bank of Blacksburg will purchase
Community National Bank's assets, including loans, and will assume deposits that
totaled approximately $53.0 million at December 31, 2003. At December 31,
Community National Bank had approximately $67.8 million in assets. The
transaction, which is subject to regulatory approval, is expected to be
completed in the first half of 2004. Details of the purchase were not disclosed.
Community National Bank was founded in Pulaski in 1994.

In making today's announcement, Jim Rakes, President and CEO of the National
Bank of Blacksburg, said "We look forward to welcoming Community National Bank's
customers to NBB and adding another great banking facility in Pulaski. We share
the same banking philosophy with Community National Bank. Our bank has been a
part of Virginia's New River Valley since 1891, and we are committed to offering
a full range of financial services, with the personal service that local bankers
offer. We are anxious to acquaint more of our neighbors in Pulaski with NBB's
style of friendly community banking." Rakes added, "We hope that Community
National Bank's customers will appreciate the advantages that NBB's size will
offer them. They will soon enjoy the convenience of having an office near where
they live, work and shop, as well as access to their accounts 24 hours each day
with Internet Banking and TeleBanc."

The National Bank of Blacksburg is an affiliate of National Bankshares, Inc.,
which is also the parent company of Bank of Tazewell County of Tazewell,
Virginia. Together the two banks operate 24 offices throughout Southwest
Virginia. National Bankshares, Inc. owns a non-bank financial services
subsidiary doing business in the same market as National Bankshares Investment
Services and National Bankshares Insurance Services. National Bankshares, Inc.
stock is traded on the Nasdaq Stock Market under the symbol "NKSH". Additional
information is available on the company's web site at
www.nationalbankshares.com.


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