-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HfJdbEPjmVxjMJmlT/H9gjsRZvT0DNlq2yY5Y+WkA0CqDzj4mAkDedDowXU5ncEK fXnr1mflmZIkZMUHfNMXdg== 0000796534-04-000015.txt : 20040513 0000796534-04-000015.hdr.sgml : 20040513 20040513140341 ACCESSION NUMBER: 0000796534-04-000015 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040513 ITEM INFORMATION: Other events FILED AS OF DATE: 20040513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL BANKSHARES INC CENTRAL INDEX KEY: 0000796534 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 541375874 STATE OF INCORPORATION: VA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-15204 FILM NUMBER: 04802306 BUSINESS ADDRESS: STREET 1: PO BOX 90002 CITY: BLACKSBURG STATE: VA ZIP: 24062-9002 BUSINESS PHONE: 5405522011 MAIL ADDRESS: STREET 1: 100 SOUTH MAIN STREET STREET 2: PO BOX 90002 CITY: BLACKSBURG STATE: VA ZIP: 24062-9002 8-K 1 form8k.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 -------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ------------- Date of Report: May 13, 2004 Commission File Number: 0-15204 National Bankshares, Inc. - -------------------------------------------------------------------------------- (Exact name of Registrant as specified in its charter) Virginia 54-1375874 - --------------------- ----------------------- (State or other jurisdiction of (I.R.S. Employer Identification No.) incorporation or organization) 101 Hubbard Street Blacksburg, VA 24060 - ----------------------------- (Address of principal executive offices) Registrant's telephone number, including area code (540) 951-6300 -------------- Page 1 of 2 Pages ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE On May 13, 2004, National Bankshares, Inc. issued a press release announcing that its Board of Directors had authorized the repurchase of up to $1 million of the Company's stock over the next twelve months, until May 31, 2005. A copy of the press release is attached as Exhibit 99.1. Exhibit 99.1 National Bankshares, Inc. press Release dated May 13, 2004. SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. NATIONAL BANKSHARES, INC. Date: May 13, 2004 By: /s/ James G. Rakes ------------- ----------------------------- James G. Rakes Chairman President and Chief Executive Officer Page 2 of 2 Pages EX-99 2 stock_repurchase.txt FOR IMMEDIATE RELEASE CONTACTS: James G. Rakes, President & CEO (540) 951-6236 J. Robert Buchanan, Treasurer (276) 979-0341 BLACKSBURG, VA,, MAY 13, 2004: National Bankshares, Inc. (Nasdaq SmallCap Market: NKSH) today announced that its Board of Directors has authorized the repurchase of up to $1 million of the company's common stock over the next twelve months, until May 31, 2005. The stock will be purchased in the open market in amounts and at times as management determines is prudent. The exact number of shares of common stock purchased under the announced stock repurchase plan, if any, and the timing of those purchases will be based on various factors, such as management's assessments of National Bankshares' capital structure and liquidity, the market price of the company's shares as compared to management's assessment of the stock's underlying value, as well as applicable accounting, legal and regulatory factors. James G. Rakes, Chairman, President and CEO of National Bankshares, Inc. said, "The company's strong earnings have put us in a good capital position. We are fortunate to have capital that is in excess of our ongoing operational needs and regulatory requirements. Operationally, our Bank of Tazewell County subsidiary recently completed the purchase of loans and assumption of deposits of the Richlands, Virginia branch office of a North Carolina bank. Our subsidiary National Bank of Blacksburg is awaiting regulatory approval of a planned purchase of assets and assumption of liabilities of Community National Bank in Pulaski, Virginia. The share repurchase authorization is another tool that enables us to manage capital in the best interests of our stockholders. National Bankshares, Inc. is a financial holding company with headquarters in Blacksburg, Virginia. Its two community bank subsidiaries, The National Bank, headquartered in Blacksburg, and Bank of Tazewell County, with its main office in Tazewell, serve Southwest Virginia with a total of 24 offices. The company also operates a non-bank subsidiary, National Bankshares Financial Services, Inc., which does business as National Bankshares Investment Services and National Bankshares Insurance Services. National Bankshares, Inc. stock trades on the Nasdaq Stock Market under the symbol "NKSH". Additional information is available on the company's web site at www.nationalbankshares.com. -----END PRIVACY-ENHANCED MESSAGE-----