8-K 1 0001.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934 ------------------- Date of Report (Date of Earliest Event Reported): January 10, 2001 NATIONAL BANKSHARES, INC. -------------------------------------------------------------------------------- (Exact name of Registrant as specified in its charter) Virginia 0-15204 54-1375874 -------------------------------------------------------------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) P.O. Box 90002 Blacksburg, Virginia 24062-9002 -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (540) 951-6300 Page 1 of 2 Pages Item 5 Other Events James G. Rakes, Chairman, President & CEO of National Bankshares, Inc. today announced that the Board of Directors has authorized management to buy up to 100,000 shares of the corporation's stock before December 31, 2001. The stock is to be purchased in open market transactions as management determines to be prudent. Management will consider a variety of factors, including current market conditions, company capital levels, and future opportunities. Mr. Rakes commented, "Community bank stocks generally, and National Bankshares stock specifically, have recently been trading at historically low levels. Our Board of Directors believes that it is interests of stockholders to repurchase the Company's common stock at a discount to its long-term value." January 23, 2001 /s/James G. Rakes ---------------------- ----------------------------- Date James G. Rakes President and Chief Executive Officer Page 2 of 2 Pages