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National Bankshares Inc. Reports Operating Results (10-Q)

May 09, 2012 | About:
10qk

10qk

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National Bankshares Inc. (NKSH) filed Quarterly Report for the period ended 2012-03-31.

Natl Bnkshrs Va has a market cap of $204.9 million; its shares were traded at around $29.51 with a P/E ratio of 11.4 and P/S ratio of 3.5. The dividend yield of Natl Bnkshrs Va stocks is 3.5%. Natl Bnkshrs Va had an annual average earning growth of 7.2% over the past 10 years. GuruFocus rated Natl Bnkshrs Va the business predictability rank of 4-star.

Highlight of Business Operations:

The following table presents NBI s key performance ratios for the three months ended March 31, 2012 and the year ended December 31, 2011. The measures for March 31, 2012 are annualized, except for basic net earnings per share and fully diluted net earnings per share.

The net interest margin for the three months ended March 31, 2012 decreased 32 basis points from the three months ended March 31, 2011. The decrease in net interest margin was driven by a decline in the yield on earning assets of 47 basis points offset by a decline in the cost of interest bearing liabilities of 20 basis points. Both loans and securities experienced a decline in yield. The 20 basis point decline in the yield on loans stemmed from contractual repricing terms and the renegotiation of loan interest rates in response to competition. The yield on taxable securities was 20 basis points lower for the three months ended March 31, 2012, when compared with the same period in 2011, while the yield on nontaxable securities declined 15 basis points over the same period. The market yield for securities of a comparable term has declined over the past year, causing matured and called bonds to be replaced with lower yielding investments. The decline in the cost of interest-bearing liabilities came primarily from a 38 basis point reduction in the cost of time deposits when the three-month periods ended March 31, 2012 and March 31, 2011 are compared.

Other income includes net gains from the sales of fixed assets, revenue from investment and insurance sales and other smaller miscellaneous components. Other income for the three months ended March 31, 2012 increased 8.79%, when compared with the three months ended March 31, 2011. These areas fluctuate with market conditions and because of competitive factors.

Read the The complete Report

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