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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000796534-06-000033.txt : 20060510
<SEC-HEADER>0000796534-06-000033.hdr.sgml : 20060510
<ACCEPTANCE-DATETIME>20060510170533
ACCESSION NUMBER:		0000796534-06-000033
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060510
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20060510
DATE AS OF CHANGE:		20060510

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:		06827158

	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:  May 10, 2006                  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 7.01  REGULATION FD DISCLOSURE

The following information and exhibit is being furnished pursuant to Regulation
FD

National Bankshares, Inc, issued a press release on May 10, 2006, announcing
that its Board of Directors has declared a semi-annual dividend of $0.36 per
share payable on June 1, 2006 to stockholders of record as of May 19, 2006. The
press release further announced the renewal of a stock repurchase plan under
which the Company's management is authorized to repurchase up to 100,000 of
common stock in the open market in the period from June 1, 2006 through May 31,
2007.

Item 9.01  FINANCIAL STATEMENTS AND EXHIBITS

(a)     Exhibits

99.1    National Bankshares, Inc. press release dated May 10, 2006.


                                    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.



Date:  May 10, 2006         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
<DESCRIPTION>PRESS RELEASE
<TEXT>
FOR IMMEDIATE RELEASE

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


                       NATIONAL BANKSHARES, INC. ANNOUNCES
                        SEMI-ANNUAL DIVIDEND AND RENEWAL
                        OF STOCK REPURCHASE AUTHORIZATION


BLACKSBURG,  VA, MAY 10, 2006:  NATIONAL  BANKSHARES,  INC. (Nasdaq  SmallCap
Market:  NKSH) announced that its Board of  Directors  today  approved  payment
on June 1, 2006 of a  semi-annual  dividend of $0.36 per share to stockholders
of record as of May 19, 2006.

In other business, the Board of Directors renewed its authorization of a stock
repurchase plan in which management is authorized to purchase up to 100,000
shares of the Company's common stock on the open market. This authorization
extends from June 1, 2006 to May 31, 2007. To date, National Bankshares, Inc.
has repurchased 26,640 shares under the current stock repurchase plan that
expires on May 31, 2006. The Company's management has not yet determined how
many shares, if any, might be repurchased under the renewed stock repurchase
plan.

National Bankshares, Inc. is a financial holding company headquartered in
Blacksburg, Virginia. It currently has two bank subsidiaries, The National Bank
and Bank of Tazewell County, with a total of 26 office locations throughout
Southwest Virginia. The Company also operates a non-bank subsidiary, National
Bankshares Financial Services, Inc. Its stock trades on the Nasdaq Stock Market
under the symbol "NKSH". Additional information is available on the Company web
site at www.nationalbankshares.com.

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