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National Bankshares, Inc. And Subsidiaries |
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(000’s), except ratios and percent data | ||||||||||
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Three months ending |
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March 31, 2008 |
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March 31, 2007 |
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Change |
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Selected Consolidated Data : |
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Interest income |
|
$ |
12,711 |
|
$ |
12,530 |
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|
1.44 |
% |
|
Interest expense |
|
|
5,406 |
|
|
5,416 |
|
|
-0.18 |
% |
|
Net interest income |
|
|
7,305 |
|
|
7,114 |
|
|
2.68 |
% |
|
Provision for loan losses |
|
|
100 |
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|
(3 |
) |
|
-3433.33 |
% |
|
Trust income |
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|
303 |
|
|
373 |
|
|
-18.77 |
% |
|
Other noninterest income |
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|
1,993 |
|
|
1,806 |
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|
10.35 |
% |
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Salary and benefits |
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|
2,857 |
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|
2,841 |
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|
0.56 |
% |
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Occupancy expense |
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|
456 |
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|
485 |
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|
-5.98 |
% |
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Amortization of intangibles |
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|
284 |
|
|
284 |
|
|
0.00 |
% |
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Other noninterest expense |
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|
1,861 |
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|
1,647 |
|
|
12.99 |
% |
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Income taxes |
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|
-862 |
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|
-923 |
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|
-6.61 |
% |
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Net income |
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$ |
3,181 |
|
$ |
3,116 |
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|
2.09 |
% |
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Basic net income per share |
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$ |
0.46 |
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$ |
0.45 |
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$ |
0.01 |
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Daily averages: |
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Gross loans |
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$ |
525,080 |
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$ |
503,040 |
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|
4.38 |
% |
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Loans,net |
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|
518,794 |
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|
496,839 |
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|
4.42 |
% |
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Total securities |
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|
275,887 |
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|
284,789 |
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-3.13 |
% |
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Total deposits |
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|
774,962 |
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|
762,817 |
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|
1.59 |
% |
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Other borrowings |
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|
63 |
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|
73 |
|
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-13.70 |
% |
|
Stockholders’ equity |
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|
107,036 |
|
|
97,927 |
|
|
9.30 |
% |
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Cash and due from |
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|
12,749 |
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|
14,684 |
|
|
-13.18 |
% |
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Interest-earning assets |
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|
833,802 |
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|
807,632 |
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|
3.24 |
% |
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Interest-bearing liabilities |
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|
666,590 |
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|
659,908 |
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|
1.01 |
% |
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Intangible assets |
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|
14,717 |
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|
15,860 |
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-7.21 |
% |
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Total assets |
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889,104 |
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|
867,945 |
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2.44 |
% |
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Financial ratios: Note (1) |
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Return on average assets |
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1.44 |
% |
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1.46 |
% |
|
-0.02 |
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Return on average equity |
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|
11.95 |
% |
|
12.90 |
% |
|
-0.95 |
|
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Net interest margin |
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|
3.93 |
% |
|
3.96 |
% |
|
-0.03 |
|
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Average equity to average assets |
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|
12.04 |
% |
|
11.28 |
% |
|
0.76 |
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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 |
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$ |
5,219 |
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$ |
5,157 |
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|
1.20 |
% |
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Provision for losses |
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|
100 |
|
|
-3 |
|
|
-3433.33 |
% |
|
Charge-offs |
|
|
-152 |
|
|
-136 |
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|
11.76 |
% |
|
Recoveries |
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|
61 |
|
|
27 |
|
|
125.93 |
% |
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Ending balance |
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$ |
5,228 |
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$ |
5,045 |
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|
3.63 |
% |
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Year to Date |
|
March 31, 2008 |
|
March 31, 2007 |
|
|
Change |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Consolidated Data : |
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
12,711 |
|
$ |
12,530 |
|
|
1.44 |
% |
|
Interest expense |
|
|
5,406 |
|
|
5,416 |
|
|
-0.18 |
% |
|
Net interest income |
|
|
7,305 |
|
|
7,114 |
|
|
2.68 |
% |
|
Provision for loan losses |
|
|
100 |
|
|
-3 |
|
|
-3433.33 |
% |
|
Trust income |
|
|
303 |
|
|
373 |
|
|
-18.77 |
% |
|
Other noninterest income |
|
|
1,993 |
|
|
1,806 |
|
|
10.35 |
% |
|
Salary and benefits |
|
|
2,857 |
|
|
2,841 |
|
|
0.56 |
% |