National Bankshares, Inc. reported a significant increase in net income for the first quarter of 2025, reaching $3.24 million, up from $2.17 million in the prior year period. This improvement was primarily driven by expansion in the net interest margin and growth in noninterest income.
Net interest income rose to $10.26 million in Q1 2025 from $8.25 million in Q1 2024, with the fully taxable equivalent net interest margin improving to 2.41% from 2.08%. Noninterest income also saw a healthy increase of 16.19%, totaling $2.56 million, reflecting broad-based growth across service charges, card fees, and trust income.
The company maintained a solid asset quality profile, with nonaccrual loans totaling $2.17 million, a slight decrease from $2.22 million at December 31, 2024. The total loan portfolio grew to $1.00 billion, and total deposits increased to $1.66 billion, demonstrating organic growth and a stable funding base. Total stockholders' equity increased to $167.28 million, reinforcing the company's capital strength.
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