NKSH

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Reference ID: 0.c706d217.1784929751.37eaf20b

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EX-99.1

2 nksh-ex99_1.htm

NATIONAL BANKSHARES, INC. PRESS RELEASE, DATED MARCH 24, 2025

EX-99.1

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

CONTACTS:

Lara E. Ramsey, President and CEO

Lora M. Jones, Treasurer & CFO

(540) 951-6250 lramsey@nbbank.com

(540) 951-6238 ljones@nbbank.com

National Bankshares, Inc. Reports Results for the Three Months Ended March 31, 2026

BLACKSBURG, VA., April 23, 2026 -- National Bankshares, Inc. (“the Company”) (Nasdaq: NKSH), parent company of The National Bank of Blacksburg (“the Bank”) and National Bankshares Financial Services, Inc., today announced its results of operations through the first quarter of 2026. The Company reported net income of $5.0 million or $0.78 per diluted common share for the three months ended March 31, 2026. This compares with net income of $3.2 million or $0.51 per diluted common share for the three months ended March 31, 2025. National Bankshares, Inc. ended March 31, 2026 with total assets of $1.83 billion.

President & CEO Lara E. Ramsey commented, “Our first quarter results reflect continued improvement in the net interest margin, with net income growth of over 50% from the first quarter of 2025. We are excited to continue our positive momentum in 2026, with an emphasis on new markets, deepening existing relationships, and offering new services. And we are confident that these efforts, combined with our legacy of efficient expense management, will continue to deliver outstanding shareholder value.”

Comparability

During the second quarter of 2025, the Company reclassified certain deposit products between savings deposits and time deposits, and made other minor reclassifications. Prior periods are presented on a comparable basis.

Highlights

Net Interest Income

The net interest margin improved when the three month period ended March 31, 2026 is compared with the three month periods ended December 31, 2025 and March 31, 2025, due to lower deposit costs and higher security yields. Loan yield improved when the first quarter of 2026 is compared with the first quarter of 2025 due to upward repricing and higher fair value accretion, and decreased when compared with the the fourth quarter of 2025 due to lower fair value accretion and lower average balance.

Noninterest Income

Credit and debit card fees, net, increased when the first quarter of 2026 is compared with the first quarter and last quarter of 2025. The Company's core system conversion and associated changes in 2025 resulted in improved terms for interchange fee income associated with credit and debit cards. Other service charges and fees increased due to a change in timing of recognition of safe deposit box fee income.

Noninterest Expense

Salaries and employee benefits increased when the first quarter of 2026 is compared with the fourth quarter of 2025 and the first quarter of 2025 due to higher medical insurance and incentive programs. Professional services increased due to higher audit and consulting expense.

Securities

The net unrealized loss on securities worsened when March 31, 2026 is compared with December 31, 2025, due to the impact of global uncertainty on bond valuations. The unrealized loss on securities improved when March 31, 2026 is compared with March 31, 2025 due to interest rate changes. The Company purchased $20 million in securities during the

101 Hubbard Street / Blacksburg, Virginia 24060

P.O. Box 90002 / Blacksburg, Virginia 24062-9002

540 951-6300 / 800 552-4123

www.nationalbankshares.com

first quarter of 2026. Analysis as of March 31, 2026 did not indicate credit risk concerns with any of the Company’s securities.

Deposits Deposits increased from December 31, 2025 to March 31, 2026. Deposits decreased when compared with March 31, 2025, due to strategic decisions to reduce time deposit pricing in consideration of strong liquidity. The Company’s depositors within its market areas are diverse and include individuals, businesses and municipalities. The Company does not have any brokered deposits. Depositors are insured up to the FDIC maximum of $250 thousand. Municipal deposits, which account for 22% of the Company’s deposits, have additional security from bonds pledged as collateral, in accordance with state regulation. Of the Company’s non-municipal deposits, approximately 19.80% are uninsured.

Liquidity

The Company’s liquidity position remains solid. The Company maintains borrowing lines with the Federal Home Loan Bank of Atlanta (“FHLB”) and the Federal Reserve that provide substantial borrowing capacity. Combined with a low loan-to-deposit ratio and positive results of the latest liquidity stress testing, the Company believes it is well positioned to meet foreseeable liquidity demands.

Loans and Credit Quality

Loans decreased slightly from December 31, 2025 and March 31, 2025. The Company is positioned to continue to make every loan that meets its underwriting standards. Loan metrics continue to reflect low credit risk, with low charge-off a

8-K

0000796534false00007965342026-01-222026-01-22

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 22, 2026

National Bankshares Inc. (Exact name of Registrant as Specified in Its Charter)

Virginia

0-15204

54-1375874

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

101 Hubbard Street

Blacksburg, Virginia

24060

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 540 951-6300

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $1.25 per share

NKSH

The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On January 22, 2026, National Bankshares, Inc. issued a press release reporting its financial results for the period ended December 31, 2025. A copy of the press release is being furnished as an exhibit to this report and is incorporated by reference into this Item 2.02. Item 9.01 Financial Statements and Exhibits. (d) Exhibits

99.1 National Bankshares, Inc. Press Release, dated January 22, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NATIONAL BANKSHARES, INC.

Date:

January 22, 2026

By:

/s/ Lara E. Ramsey

Lara E. Ramsey President and CEO