National Bankshares Q3 2022 Earnings Report

Reported net income for the third quarter and nine months ended September 30, 2022.

Key Takeaways

National Bankshares, Inc. reported a good earnings report with a nice increase in net income compared to the same period last year. For the nine months ended September 30, 2022, the company reported net income of $16.62 million, or $2.77 per common share and total assets of $1.70 billion.

Net income increased by $1.49 million due to growth in net interest income and service charges on deposit accounts, as well as decreased pension expense.

Customer deposits increased $137.92 million or 9.63% from September 30, 2021 to September 30, 2022.

Loans grew by $55.37 million or 6.94% when September 30, 2022 is compared with September 30, 2021.

Key ratios improved, including return on average equity, return on average assets and efficiency ratio.

Total Revenue

$14.5M

Previous year: $12.9M