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EX-99.1 - EXHIBIT 99.1 - NATIONAL BANKSHARES INCex_186527.htm

 

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 (Date of earliest event reported) May 13, 2020 (May 13, 2020)

 

National Bankshares, Inc.

(Exact name of Registrant as specified in its charter)

 

Virginia

0-15204

54-1375874

(State or other jurisdiction

of incorporation)

(Commission File No.)

(I.R.S. Employer Identification No.)

 

101 Hubbard Street

Blacksburg, VA 24060

(Address of principal executive offices)

 

(540) 951-6300

(Registrant’s telephone number, including area code)

 

(Former name or former address, if changed since last report) Not applicable

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

NKSH

NASDAQ

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company          ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

ITEM 8.01.     OTHER EVENTS

 

On May 13, 2020, National Bankshares, Inc. issued a press release announcing payment of a semi-annual cash dividend of $0.67 per share on June 1, 2020 to stockholders of record as of May 25, 2020.

 

National Bankshares, Inc.’s press release also announced the renewal of the authorization of a stock repurchase plan under which the Company’s management is authorized to repurchase up to 1,000,000 shares of common stock in the open market during the period from June 1, 2020 through May 31, 2021.

 

A copy of the press release is attached as Exhibit 99.1.


 

ITEM 9.01.     FINANCIAL STATEMENTS AND EXHIBITS

 

(d)

Exhibits

 

99.1

National Bankshares, Inc. Press Release, dated May 13, 2020.

 

 

 

 

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, 2020

 

By:      /s/ F. BRAD DENARDO

            F. Brad Denardo

            Chairman, President and CEO

 

 

 

 

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