NASDAQ$NKSH
National Bankshares Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported a decrease in net income due to intense interest rate pressure, costs from a proxy contest, and increased salary expense.
National Bankshares, Inc. reported a decrease in net income for the second quarter of 2023, with net income of $3.90 million, or $0.66 earnings per share, compared to $5.57 million, or $0.93 earnings per share, for the same period in 2022. The decrease was attributed to interest rate pressure, expenses from a proxy contest, and increased salary expenses.
- Net income decreased compared to both Q1 2023 and Q2 2022.
- Rising interest rates and competition for deposits compressed the net interest margin.
- A gain of $2.97 million was recognized on the sale of VISA Class B securities.
- Construction on a new branch in Roanoke, Virginia will begin during the third quarter of 2023.
Headline financials
Revenue & EPS history
National Bankshares · Revenue · Quarterly
$12M
Forward guidance
National Bankshares is focused on returning to increased profitability in the second half of 2023 by deploying capital through sound loans, seeking new growth opportunities, deepening existing relationships, increasing operational efficiencies, and reducing costs while maintaining customer experience.
Tailwinds
- Well-capitalized
- Lenders are working to deploy capital through sound, profitable loans
- Talented community bankers are seeking new opportunities for growth
- Deepening existing relationships to deliver profits through multiple lines of service
- Working to increase operational efficiencies and reduce costs while maintaining customer experience
Headwinds
- Intense interest rate pressure
- Drastic increases in the interest paid on deposits outpaced the return on loans and other assets, resulting in lower net interest income
- Costs incurred by National Bankshares in a successfully-averted proxy contest
- Increased salary expense resulting from last year’s 4th quarter base pay increase contributed to lower net income
- Current economic environment may last for some time
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-0.6%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+2.0%
Avg return
30 days after
45%
30 / 66 earnings
Positive
+5.9%
Q3 2017
Best reaction
-12.0%
Q3 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.7% | -2.3% | -3.4% | |
| Q4 2025 | +0.1% | -0.0% | +6.9% | |
| Q3 2025 | -1.1% | -0.8% | +1.8% | |
| Q2 2025 | -1.2% | +2.1% | +5.3% | |
| Q1 2025 | +0.7% | +0.2% | -1.9% | |
| Q4 2024 | -1.6% | +0.6% | -7.7% | |
| Q3 2024 | -3.9% | +1.0% | +7.0% | |
| Q2 2024 | +0.2% | +1.9% | +4.8% | |
| Q1 2024 | +2.9% | -1.8% | -3.5% | |
| Q4 2023 | -0.3% | -1.0% | -17.0% | |
| Q3 2023 | +0.6% | +2.6% | +15.9% | |
| Q2 2023 | -4.6% | -6.9% | -16.0% | |
| Q1 2023 | -0.2% | +1.4% | +7.5% | |
| Q4 2022 | +0.8% | +5.3% | +3.6% | |
| Q3 2022 | -0.2% | +3.1% | +10.9% | |
| Q2 2022 | +1.2% | +2.8% | +8.8% | |
| Q1 2022 | -2.0% | -4.0% | -5.3% | |
| Q4 2021 | +1.3% | +1.4% | +4.1% | |
| Q3 2021 | -0.6% | +1.4% | +3.4% | |
| Q2 2021 | +0.6% | +0.4% | +9.7% | |
| Q1 2021 | +2.8% | +3.3% | +0.4% | |
| Q4 2020 | +3.1% | +2.0% | +13.6% | |
| Q3 2020 | +5.4% | +9.7% | +13.8% | |
| Q2 2020 | +2.3% | +7.9% | -2.0% | |
| Q1 2020 | +3.3% | -2.8% | +26.1% | |
| Q4 2019 | -1.7% | -2.1% | -15.9% | |
| Q3 2019 | +1.1% | +0.6% | +1.8% | |
| Q2 2019 | -0.4% | -5.1% | -6.4% | |
| Q1 2019 | -0.9% | +1.7% | -1.2% | |
| Q4 2018 | +0.9% | +7.7% | +13.7% | |
| Q3 2018 | -1.4% | +1.4% | -2.6% | |
| Q2 2018 | -1.9% | -0.1% | -0.6% | |
| Q1 2018 | +0.2% | -0.5% | +5.7% | |
| Q4 2017 | +5.2% | +10.1% | +14.6% | |
| Q3 2017 | +5.9% | -1.1% | -1.8% | |
| Q2 2017 | -2.4% | -2.4% | -5.9% | |
| Q1 2017 | -2.7% | -5.7% | -7.2% | |
| Q4 2016 | -6.2% | -5.7% | -6.2% | |
| Q3 2016 | -0.9% | -1.9% | +5.6% | |
| Q2 2016 | -0.6% | -2.8% | +1.2% | |
| Q1 2016 | -2.6% | — | — | |
| Q4 2015 | -0.0% | — | — | |
| Q3 2015 | -7.5% | — | — | |
| Q2 2015 | -2.1% | — | — | |
| Q1 2015 | -0.0% | — | — | |
| Q4 2014 | -1.0% | — | — | |
| Q3 2014 | +0.8% | — | — | |
| Q2 2014 | -2.0% | — | — | |
| Q1 2014 | -3.0% | — | — | |
| Q4 2013 | +0.8% | — | — | |
| Q3 2013 | +3.0% | — | — | |
| Q2 2013 | -0.1% | — | — | |
| Q1 2013 | +2.1% | — | — | |
| Q4 2012 | -1.5% | — | — | |
| Q3 2012 | -12.0% | — | — | |
| Q2 2012 | +0.0% | — | — | |
| Q1 2011 | -1.4% | — | — | |
| Q1 2012 | +1.8% | — | — | |
| Q4 2009 | +0.7% | — | — | |
| Q4 2011 | +0.7% | — | — | |
| Q4 2010 | +0.7% | — | — | |
| Q3 2010 | -10.1% | — | — | |
| Q3 2011 | -10.1% | — | — | |
| Q2 2010 | +4.7% | — | — | |
| Q2 2011 | +4.7% | — | — | |
| Q1 2010 | -4.6% | — | — |
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