<SEC-DOCUMENT>0001437749-17-008633.txt : 20170510
<SEC-HEADER>0001437749-17-008633.hdr.sgml : 20170510
<ACCEPTANCE-DATETIME>20170510162957
ACCESSION NUMBER:		0001437749-17-008633
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20170510
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170510
DATE AS OF CHANGE:		20170510

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:		17830726

	BUSINESS ADDRESS:	
		STREET 1:		101 HUBBARD STREET
		STREET 2:		PO BOX 90002
		CITY:			BLACKSBURG
		STATE:			VA
		ZIP:			24060
		BUSINESS PHONE:		540-951-6300

	MAIL ADDRESS:	
		STREET 1:		101 HUBBARD STREET
		STREET 2:		PO BOX 90002
		CITY:			BLACKSBURG
		STATE:			VA
		ZIP:			24060
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>nksh20170510_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 18pt;"><b>UNITED STATES</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 18pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>&nbsp;</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Washington, D.C. 20549</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 18pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 18pt;"><b>Form 8-K</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 18pt;"><b>&nbsp;</b></p>

<p style="margin: 0pt; text-align: center; text-transform: uppercase; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Current Report</b></p>

<p style="margin: 0pt; text-align: center; text-transform: uppercase; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>&nbsp;</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">Date of Report (Da<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">te of earliest event reported) May 10, 2017 (May 10, 2017)</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 18pt;"><b>&nbsp;</b></p>

<p style="margin: 0pt; text-align: center; text-transform: uppercase; font-family: Times New Roman, Times, serif; font-size: 18pt;"><b>National Bankshares, Inc.</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Exact name of Registrant as specified in its charter)</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>&nbsp;</b></p>

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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Virginia</b></p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>0-15204</b></p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>54-1375874</b></p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(State or other jurisdiction of incorporation or organization)</p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Commission File No.)</p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(I.R.S. Employer Identification No.)</p>
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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>&nbsp;</b></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>&nbsp;</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>101 Hubbard Street</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Blacksburg, VA 24060</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Address of principal executive offices)</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>&nbsp;</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>(540) 951-6300</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Registrant<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&rsquo;s telephone number, including area code)</font></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Former name or former address, if changed since last report) <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Not applicable</b></font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&#9744;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&#9744;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&#9744;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&#9744;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt 0pt 0pt 27pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934</font></p>

<p style="margin: 0pt 0pt 0pt 18pt; text-align: left; text-indent: -18pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt 0pt 0pt 27pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">Emerging growth company &#9744;</font></p>

<p style="margin: 0pt 0pt 0pt 18pt; text-align: left; text-indent: -18pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt 0pt 0pt 27pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</font></p>

<p style="margin: 0pt 0pt 0pt 18pt; text-align: left; text-indent: 0pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">ITEM <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">8.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>OTHER EVENTS</b></font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: justify; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">On <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">May 10, 2017, National Bankshares, Inc. issued a press release announcing payment of a semi-annual cash dividend of $0.56 per share on June 1, 2017 to stockholders of record as of May 22, 2017.</font></p>

<p style="margin: 0pt; text-align: justify; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: justify; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">National Bankshares, Inc.<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&rsquo;s press release also announced the renewal of the authorization of a stock repurchase plan under which the Company&rsquo;s management is authorized to repurchase up to 100,000 shares of common stock in the open market during the period from June 1, 2017 through May 31, 2018.</font></p>

<p style="margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: justify; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">A copy of the press release is attached as Exhibit 99.1.</font></p>

<p style="margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><br>
<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">ITEM 9.01.<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;<b>FINANCIAL STATEMENTS AND EXHIBITS</b></font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

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			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">(d<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">)</font></p>
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			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Exhibits</p>
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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">99.1<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Bankshares, Inc. Press Release, dated May 10, 2017.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt 0pt 0pt 108pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt 0pt 0pt 108pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt 0pt 0pt 108pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">SIGNATURE</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: justify; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">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.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">NATIONAL BANKSHARES, INC.</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Date: <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">May 10, 2017</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

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			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">By:<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ JAMES G. RAKES</font></p>
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			<p style="margin: 0pt; text-align: left; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">James G. Rakes</p>

			<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Chairman</p>

			<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">President and CEO</p>
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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

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<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">Page 2 of 2 Pages</p>

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<DOCUMENT>
<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
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<p style="text-align: right; margin-top: 0px; margin-bottom: 0px;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Exhibit 99.1</b></font></p>

<p style="text-align: left; margin-top: 0px; margin-bottom: 0px;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</font></p>

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<p><u><b>FOR IMMEDIATE RELEASE</b></u></p>
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<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>CONTACTS:</b><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>&nbsp;&nbsp;&nbsp;</b></font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">JAMES G. RAKES, CHAIRMAN, PRESIDENT &amp; CEO</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">(540) 951-6236<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;<u>jrakes@nbbank.com </u></font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">DAVID K. SKEENS, TREASURER &amp; CFO</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">(540) 951-6347<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;<u>dskeens@nbbank.com</u></font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><u><b>NATIONAL BANKSHARES, INC. DECLARES</b></u><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><u><b> </b></u><u><b>SEMI-ANNUAL DIVIDEND </b></u></font></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">BLACKSBURG, VA, <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">MAY 1</font><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">0, 2017: The Board of Directors of National Bankshares, Inc. (NASDAQ Capital Market: <b>NKSH</b>) today approved payment on June 1, 2017 of a semi-annual dividend of $0.56 per share to all stockholders of record as of May 22</font><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">, 2017. This dividend payment compares to $0.55 per share paid to stockholders on June 1, 2016. James G. Rakes, Chairman, President &amp; CEO said, &ldquo;This dividend payment reflects our commitment to sharing the Company&rsquo;s solid financial performance with our stockholders</font><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">.&rdquo;</font></p>

<p style="margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">In other business, the Board renewed its authorization of a stock repurchase plan under which management is authorized to purchase up to 100,000 shares of National Bankshares, Inc.<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&rsquo;s common stock in the open market.&nbsp;&nbsp;The authorization extends from June 1, 2017 to May 31, 2018.&nbsp;The Company&rsquo;s current stock repurchase plan expires on May 31, 2017.&nbsp;The Company&rsquo;s management has not yet determined how many shares, if any, might be purchased under the continued stock repurchase plan.</font></p>

<p style="margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">National Bankshares, Inc., headquartered in Blacksburg, Virginia, is the parent company of The National Bank of Blacksburg, which does business as National Bank, and of National Bank<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">shares Financial Services, Inc.&nbsp;National Bank is a community bank operating from 26 full service offices and one loan production office throughout Southwest Virginia. National Bankshares Financial Services, Inc. is an investment and insurance subsidiary in the same trade area.&nbsp;The Company&rsquo;s stock is traded on the NASDAQ Capital Market under the symbol &ldquo;NKSH.&rdquo;&nbsp;Additional information is available at <u>www.nationalbankshares.com</u>.</font></p>

<p style="margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><i>Forward-Looking Statements</i></font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><i>Certain statements in this press release may be &ldquo;forward-looking statements.&rdquo; Forward-looking statements are statements that include projections, predictions, expectations or beliefs about future events or results that are not statements of historical fact and that involve significant risks and uncertainties. Although the Company believes that its expectations with regard to forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual Company results will not differ materially from any future results implied by the forward-looking statements. Actual results may be materially different from past or anticipated results because of many factors, some of which may include changes in economic conditions, the interest rate environment, legislative and regulatory requirements, new products, competition, changes in the stock and bond markets and technology. The Company does not update any forward-looking statements that it may make.</i></p>

<p style="margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman; font-size: 8pt;">101 Hubbard Stree<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">t </font><font style="font-family: times new roman; font-size: 8pt;">/ Blacksburg, Virginia 24060</font></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman; font-size: 8pt;">P.O. <font style="font-family: times new roman; font-size: 8pt;">Box 90002 / Blacksburg, Virginia 24062-9002</font></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman; font-size: 8pt;">540 951-6300 / 800 552-4123<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</font></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman; font-size: 8pt;">www.nationalbankshares.co<font style="font-family: times new roman; font-size: 8pt;">m</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
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