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Dec 31, 2022
National Bankshares Q4 2022 Earnings Report
National Bankshares reported solid core income growth, bolstered by a gain on the sale of a private equity investment, leading to outstanding earnings for the year.
Key Takeaways
National Bankshares, Inc. reported a net income of $9.31 million, or $1.57 per common share, for the fourth quarter of 2022. The company's performance was bolstered by a gain on the sale of a private equity investment.
Net income for the fourth quarter was $9.31 million, or $1.57 per common share.
Sale of a private equity investment generated a gain of $3.82 million before tax and $3.02 million after tax during the fourth quarter of 2022.
Core net income for the fourth quarter was $6.29 million, or $1.06 per common share.
Customer deposits decreased $27.92 million from September 30, 2022 to December 31, 2022.
National Bankshares
National Bankshares
Forward Guidance
If the Federal Reserve increases rates or holds rates steady, National Bankshares expects increased yields on adjustable-rate and new earning assets, as well as increased deposit costs.
Positive Outlook
- Increased yields on adjustable-rate earning assets
- Increased yields on new earning assets
Challenges Ahead
- Increased deposit costs