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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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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