National Bankshares Q1 2021 Earnings Report

National Bankshares reported increased earnings due to reduced loan loss provision and low interest rates on deposits.

Key Takeaways

National Bankshares, Inc. reported a net income of $4.77 million, or $0.74 per common share, for the quarter ended March 31, 2021, compared to $3.98 million, or $0.61 per common share, for the quarter ended March 31, 2020. The company's total assets ended the quarter at $1.57 billion.

Net income increased to $4.77 million, or $0.74 per share, compared to $3.98 million, or $0.61 per share, in the same quarter last year.

Total assets reached $1.57 billion.

Loan loss provision decreased to $50 thousand from $479 thousand in the same quarter last year.

Net interest margin was 2.89%, impacted by low interest rates, but supported by PPP loan fees and interest.

Total Revenue

$12.4M

Previous year: $11.7M