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Note 1 - General | 9 Months Ended
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Sep. 30, 2019
Notes to Financial Statements |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 : General The consolidated financial statements of National Bankshares, Inc. (“NBI”) and its wholly-owned subsidiaries, The National Bank of Blacksburg (“NBB”) and National Bankshares Financial Services, Inc. (“NBFS”) (collectively, the “Company”), conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. The accompanying interim period consolidated financial statements are unaudited; however, in the opinion of management, all adjustments consisting of normal recurring adjustments, which are necessary for a fair presentation of the consolidated financial statements, have been included. The results of operations for the three and nine month periods ended September 30, 2019 are not necessarily indicative of results of operations for the full year or any other interim period. The interim period consolidated financial statements and financial information included in this Form 10 -Q should be read in conjunction with the notes to consolidated financial statements included in the Company’s 2018 Form 10 -K. The Company posts all reports required to be filed under the Securities and Exchange Act of 1934 on its web site at www.nationalbankshares.com. Accounting Standards Adopted in 201 9 ASU No. 201 6 - 0 2 , “ Leases (Topic 842 ) ” In February 2016, the FASB issued ASU No. 2016 - 02, “Leases (Topic 842 ).” Among other things, the standard requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: ( 1 ) A lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and ( 2 ) A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. For financial reporting purposes, the standard provides for a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. Subsequent to the issuance of ASU 2016 - 02, the FASB issued targeted updates to clarify specific implementation issues including ASU No. 2018 - 01, “Leases (Topic 842 ): Land Easement Practical Expedient for Transition to Topic 842,” ASU No. 2018 - 10, “Codification Improvements to Topic 842, Leases,” ASU No. 2018 - 11, “Leases (Topic 842 ): Targeted Improvements,” ASU No. 2018 - 20, “Leases (Topic 842 ): Narrow-Scope Improvements for Lessors,” and ASU No. 2019 - 01 “Leases (Topic 842 ): Codification Improvements.” One of the amendments in ASU 2018 - 11 provides an additional (and optional) transition method to adopt the standard. If elected, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Consequently, an entity’s reporting for the comparative periods presented in the financial statements in which it adopts the new leases standard will continue to be in accordance with previous GAAP (Topic 840, Leases). Upon adoption on January 1, 2019, the Company elected the prospective application approach provided by ASU 2018 - 11. There was no cumulative effect adjustment at adoption. The Company also elected certain practical expedients within the standard and did not reassess whether any expired or existing contracts are or contain leases, did not reassess the lease classification for any expired or existing leases and did not reassess any initial direct costs for existing leases. The Company evaluated its existing leases as of January 1, 2019 and recognized a right-of-use asset and lease liability for leases with a remaining term greater than 12 months. The Company also recognized a right-of-use asset and lease liability for leases that commenced after January 1, 2019. ASU No. 201 7 - 0 8 , “ Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 - 20 ), Premium Amortization on Purchased Callable Debt Securities ” In March 2017, the FASB issued ASU 2017‐08, “ Receivables—Nonrefundable Fees and Other Costs (Subtopic 310 ‐ 20 ), Premium Amortization on Purchased Callable Debt Securities .” The amendments in this ASU shorten the amortization period for certain callable debt securities purchased at a premium. Premiums on qualifying callable debt securities will be amortized to the earliest call date. Discounts on purchased debt securities will continue to be accreted to maturity. The ASU provided for adoption on a modified retrospective basis, with a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. The Company adopted the ASU on January 1, 2019. Adoption did not have a material impact and no cumulative effect adjustment was recorded.

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