|
National
Bankshares, Inc. And Subsidiaries
|
|||
| (000's), except ratios and percent data | |||
| Three months ending |
December
31, 2006
|
December
31, 2005
|
Change
|
| Selected Consolidated Data : | |||
| Interest income |
$12,427
|
$11,594
|
7.18%
|
| Interest expense |
5,261
|
4,095
|
28.47%
|
| Net interest income |
7,166
|
7,499
|
-4.44%
|
| Provision for loan losses |
9
|
10
|
-10.00%
|
| Trust income |
469
|
336
|
39.58%
|
| Other noninterest income |
1,830
|
1,690
|
8.28%
|
| Salary and benefits |
2,760
|
2,731
|
1.06%
|
| Occupancy expense |
478
|
481
|
-0.62%
|
| Amortization of intangibles |
284
|
285
|
-0.35%
|
| Other noninterest expense |
1,852
|
1,742
|
6.31%
|
| Income taxes |
-881
|
-1,051
|
-16.18%
|
| Net income |
$3,201
|
$3,225
|
-0.74%
|
| Basic net income per share |
$0.46
|
$0.46
|
$0.00
|
| Daily averages: | |||
| Gross loans |
$498,366
|
$495,920
|
0.49%
|
| Loans,net |
492,104
|
489,479
|
0.54%
|
| Total securities |
272,644
|
263,887
|
3.32%
|
| Total deposits |
751,639
|
736,500
|
2.06%
|
| Other borrowings |
0
|
177
|
-100.00%
|
| Stockholders' equity |
97,741
|
92,426
|
5.75%
|
| Cash and due from |
15,795
|
17,430
|
-9.38%
|
| Interest-earning assets |
792,919
|
780,753
|
1.56%
|
| Interest-bearing liabilities |
646,673
|
622,233
|
3.93%
|
| Intangible assets |
16,138
|
17,444
|
-7.49%
|
| Total assets |
854,040
|
832,999
|
2.53%
|
| Financial ratios: Note (1) | |||
| Return on average assets |
1.49%
|
1.54%
|
-0.05
|
| Return on average equity |
12.99%
|
13.84%
|
-0.85
|
| Net interest margin |
4.06%
|
4.17%
|
-0.11
|
| Average equity to average assets |
11.44%
|
11.10%
|
0.35
|
| Note (1) Ratio change measured in bp | |||
| Allowance for loan losses: | |||
| Beginning balance |
$5,252
|
$5,620
|
-6.55%
|
| Provision for losses |
9
|
10
|
-10.00%
|
| Charge-offs |
-114
|
-289
|
-60.55%
|
| Recoveries |
10
|
108
|
-90.74%
|
| Ending balance |
$5,157
|
$5,449
|
-5.36%
|
| Year to Date |
December
31, 2006
|
December
31, 2005
|
Change
|
| Selected Consolidated Data : | |||
| Interest income |
$47,901
|
$45,380
|
5.56%
|
| Interest expense |
18,564
|
14,180
|
30.92%
|
| Net interest income |
29,337
|
31,200
|
-5.97%
|
| Provision for loan losses |
49
|
567
|
-91.36%
|
| Trust income |
1,528
|
1,398
|
9.30%
|
| Other noninterest income |
7,274
|
6,215
|
17.04%
|
| Salary and benefits |
11,466
|
11,265
|
1.78%
|
| Occupancy expense |
1,957
|
1,931
|
1.35%
|
| Amortization of intangibles |
1,137
|
1,117
|
1.79%
|
| Other noninterest expense |
7,110
|
7,585
|
-6.26%
|
| Income taxes |
-3,788
|
-3,924
|
-3.47%
|
| Net income |
$12,632
|
$12,424
|
1.67%
|
| Basic net income per share |
$1.80
|
$1.77
|
$0.03
|
| Fully diluted net income per share |
$1.80
|
$1.76
|
$0.04
|
| Dividends per share |
.73
|
.71
|
$0.02
|
| Dividend payout ratio |
40.44
|
40.17
|
$0.27
|
| Book value per share |
$13.86
|
13.10
|
$0.76
|
| Balance sheet at period-end: | |||
| Gross loans |
$501,702
|
$493,524
|
1.66%
|
| Loans, net |
$495,486
|
$487,162
|
1.71%
|
| Total securities |
285,489
|
272,541
|
4.75%
|
| Cash and due From |
15,283
|
20,115
|
-24.02%
|
| Total deposits |
764,692
|
745,649
|
2.55%
|
| Other borrowings |
73
|
357
|
-79.55%
|
| Stockholders' equity |
96,755
|
91,939
|
5.24%
|
| Intangible assets |
15,976
|
17,113
|
-6.64%
|
| Total assets |
868,203
|
841,498
|
3.17%
|
| Daily averages: | |||
| Gross loans |
$494,945
|
$493,668
|
0.26%
|
| Loans,net |
488,624
|
487,130
|
0.31%
|
| Total securities |
271,066
|
261,743
|
3.56%
|
| Total deposits |
741,071
|
724,015
|
2.36%
|
| Other borrowings |
53
|
420
|
-87.38%
|
| Stockholders' equity |
94,194
|
90,470
|
4.12%
|
| Cash and due from |
15,968
|
15,976
|
-0.05%
|
| Interest-earning assets |
779,018
|
769,931
|
1.18%
|
| Interest-bearing liabilities |
632,514
|
610,534
|
3.60%
|
| Intangible assets |
16,025
|
17,500
|
-8.43%
|
| Total assets |
840,080
|
819,341
|
2.53%
|
| Financial ratios: Note (1) | |||
| Return on average assets |
1.50%
|
1.52%
|
-0.02
|
| Return on average equity |
13.41%
|
13.73%
|
-0.32
|
| Net interest margin |
4.14%
|
4.44%
|
-0.30
|
| Efficiency ratio |
52.74%
|
52.39%
|
0.35
|
| Average equity to average assets |
11.21%
|
11.04%
|
0.17
|
| Note (1) Ratio change measured in bp | |||
| Allowance for loan losses: | |||
| Beginning balance |
$5,449
|
$5,729
|
-4.89%
|
| Provision for losses |
49
|
567
|
-91.36%
|
| Charge-offs |
-459
|
-1,101
|
-58.31%
|
| Recoveries |
118
|
254
|
-53.54%
|
| Ending balance |
$5,157
|
$5,449
|
-5.36%
|
| Nonperforming assets: | |||
| Nonaccrual loans |
0
|
$178
|
-100.00%
|
| Restructured loans |
---
|
---
|
---
|
| Total nonperforming loans Note (2) |
0
|
178
|
-100.00%
|
| Other real estate owned |
390
|
376
|
3.72%
|
| Total nonperforming assets |
$390
|
$554
|
-29.60%
|
| Asset quality ratios: Note (3) | |||
| Nonperforming loans to total loans |
0.000%
|
0.04%
|
-100.00%
|
| Allowance for loan losses to total loans |
1.03%
|
1.11%
|
-7.99%
|
| Allowance for loan losses to nonperforming loans |
---
|
3061.24%
|
-100.00%
|
| Note (2) Loans 90 days past due or more not included | |||
| Note (3) Ratio change measured in bp | |||