NATIONAL BANKSHARES Business Summary

National Bankshares, Inc. (NKSH) is a Virginia-based bank holding company that generates revenue primarily through net interest income from a diversified loan portfolio—including commercial, agricultural, and residential real estate—and non-interest income from trust services, insurance commissions, and deposit fees. The company operates through two primary segments: community banking, conducted via its subsidiary The National Bank of Blacksburg, and financial services, managed through National Bankshares Financial Services, Inc. As of February 2026, the firm maintains approximately $1.82 billion in assets and a footprint of 28 full-service offices across Southwest and Central Virginia. Its primary competitors include United Bankshares, Inc., Ameris Bancorp, and South State Corp; NKSH positions itself as a high-touch, community-centric alternative, leveraging a peer-leading efficiency ratio and deep local market penetration to compete against these larger regional institutions. The executive leadership is headed by President and CEO Lara E. Ramsey, who succeeded long-time leader F. Brad Denardo on July 1, 2025, following her tenure as the company’s Executive Vice President and COO. The senior management team includes Executive Vice President and CFO Lora Jones, Chief Risk Officer David Skeens, and Chief Lending Officer Paul Mylum, all of whom possess extensive backgrounds in the Virginia banking sector. F. Brad Denardo remains active as Chairman of the Board, providing strategic continuity for an institution that traces its roots back to its founding in 1891. The company’s stability is further supported by a board of directors featuring local leaders like Vice Chairman Charles E. Green III and notable institutional investors such as BlackRock, Inc., Vanguard Group Inc., and Brandes Investment Partners.