SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES ACT OF 1934
----------------
Date of Report (Date of Earliest Event Reported): May 17, 2000
NATIONAL BANKSHARES, INC.
- -----------------------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Virginia 0-15204 54-1375874
- -----------------------------------------------------------------------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation )
P.O. Box 90002
Blacksburg, Virginia 24062-9002
- -----------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (540) 951-6300
Page 1 of 2 Pages<PAGE>
Item 5 Other Events
------------
James G. Rakes, Chairman, President & CEO of National Bankshares, Inc.
today announced that the Board of Directors has authorized management to buy
up to 50,000 shares of the corporation's stock before December 31, 2000. The
stock is to be purchased in open market transactions as management determines
to be prudent. Management will consider a variety of factors, including
current market conditions, company capital levels, and future opportunities.
Mr. Rakes explained, "Many community bank stocks, including ours, are
trading at their lowest levels in years. Our Board of Directors believes
that it is in the long-term best interest of our stockholders to buy back
National Bankshares, Inc. stock at its current price."
Date: May 17, 2000 /s/James G. Rakes
------------ -----------------------
President and
Chief Executive Officer
Page 2 of 2 Pages<PAGE>
