National Bankshares, Inc. And Subsidiaries
(000’s), except ratios and percent data
|
Three months ending |
|
June 30, 2007 |
|
June 30, 2006 |
|
Change |
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Selected Consolidated Data : |
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Interest income |
|
$ |
12,695 |
|
$ |
11,849 |
|
7.14 |
% |
||||||
|
Interest expense |
|
|
5,370 |
|
|
4,374 |
|
22.77 |
% |
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|
Net interest income |
|
|
7,325 |
|
|
7,475 |
|
-2.01 |
% |
||||||
|
Provision for loan losses |
|
|
13 |
|
|
7 |
|
85.71 |
% |
||||||
|
Trust income |
|
|
360 |
|
|
365 |
|
-1.37 |
% |
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|
Other noninterest income |
|
|
1,899 |
|
|
1,847 |
|
2.82 |
% |
||||||
|
Salary and benefits |
|
|
2,778 |
|
|
2,929 |
|
-5.16 |
% |
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|
Occupancy expense |
|
|
412 |
|
|
472 |
|
-12.71 |
% |
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|
Amortization of intangibles |
|
|
285 |
|
|
285 |
|
0.00 |
% |
||||||
|
Other noninterest expense |
|
|
2,029 |
|
|
1,715 |
|
18.31 |
% |
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|
Income taxes |
|
|
-927 |
|
|
-1,052 |
|
-11.88 |
% |
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|
Net income |
|
$ |
3,140 |
|
$ |
3,227 |
|
-2.70 |
% |
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|
Basic net income per share |
|
$ |
0.45 |
|
$ |
0.46 |
$ |
0.01 |
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Daily averages: |
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Gross loans |
|
$ |
509,826 |
|
$ |
494,387 |
|
3.12 |
% |
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|
Loans,net |
|
|
503,706 |
|
|
488,039 |
|
3.21 |
% |
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Total securities |
|
|
288,215 |
|
|
271,677 |
|
6.09 |
% |
||||||
|
Total deposits |
|
|
756,952 |
|
|
738,669 |
|
2.48 |
% |
||||||
|
Other borrowings |
|
|
2,235 |
|
|
753 |
|
196.81 |
% |
||||||
|
Stockholders’ equity |
|
|
101,105 |
|
|
90,113 |
|
12.20 |
% |
||||||
|
Cash and due from |
|
|
14,213 |
|
|
15,830 |
|
-10.21 |
% |
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|
Interest-earning assets |
|
|
806,828 |
|
|
774,594 |
|
4.16 |
% |
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|
Interest-bearing liabilities |
|
|
648,844 |
|
|
625,375 |
|
3.75 |
% |
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|
Intangible assets |
|
|
15,569 |
|
|
16,640 |
|
-6.44 |
% |
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|
Total assets |
|
|
866,915 |
|
|
834,745 |
|
3.85 |
% |
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Financial ratios: Note (1) |
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Return on average assets |
|
|
1.45 |
% |
|
1.57 |
% |
-0.12 |
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Return on average equity |
|
|
12.46 |
% |
|
14.52 |
% |
-2.06 |
|
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|
Net interest margin |
|
|
4.03 |
% |
|
4.30 |
% |
-0.27 |
|
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|
Average equity to average assets |
|
|
11.66 |
% |
|
10.80 |
% |
0.87 |
|
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Note (1) Ratio change measured in bp |
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Allowance for loan losses: |
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|
Beginning balance |
|
$ |
5,045 |
|
$ |
5,418 |
|
-6.88 |
% |
||||||
|
Provision for losses |
|
|
13 |
|
|
7 |
|
85.71 |
% |
||||||
|
Charge-offs |
|
|
-89 |
|
|
-122 |
|
-27.05 |
% |
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|
Recoveries |
|
|
31 |
|
|
37 |
|
-16.22 |
% |
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|
Ending balance |
|
$ |
5,000 |
|
$ |
5,340 |
|
-6.37 |
% |
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|
Year to Date |
|
|
June 30, 2007 |
|
|
June 30, 2006 |
|
Change |
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Consolidated Data : |
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
25,225 |
|
$ |
23,432 |
|
7.65 |
% |
|
Interest expense |
|
|
10,786 |
|
|
8,612 |
|
25.24 |
% |
|
Net interest income |
|
|
14,439 |
|
|
14,820 |
|
-2.57 |
% |
|
Provision for loan losses |
|
|
10 |
|
|
24 |
|
-58.33 |
% |
|
Trust income |
|
|
733 |
|
|
745 |
|
-1.61 |
% |
|
Other noninterest income |
|
|
3,705 |
|
|
3,526 |
|
5.08 |
% |
|
Salary and benefits |
|
|
5,619 |
|
|
5,840 |
|
-3.78 |
% |
|
Occupancy expense |
|
|
897 |
|
|
1,005 |
|
-10.75 |
% |
|
Amortization of intangibles |
|
|
569 |
|
|
569 |
|
0.00 |
% |
|
Other noninterest expense |
|
|
3,676 |
|
|
3,486 |
|
5.45 |
% |
|
Income taxes |
|
|
-1,850 |
|
|
-1,937 |
|
-4.49 |
% |
|
Net income |