U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(Mark One)
[X] ANNUAL REPORT UNDER SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended December 31, 1996
OR
[ ] TRANSITION REPORT UNDER SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from to
Commission file number 33-14252
FIRST NATIONAL BANKSHARES CORPORATION
(Exact name of registrant as specified in its charter)
West Virginia 62-1306172
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
One Cedar Street, Ronceverte, West Virginia 24970
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (304) 647-4500
Securities registered pursuant to Sec. 12(b) of the Act- None
Securities registered pursuant to Sec. 12(g) of the Act- None
Securities issued pursuant to a registrant statement which became effective
under the Securities Act of 1933-
Common Stock, par value $5.00 per share
(Title of Class)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days. Yes X No
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K
[X] Not subject to Section 16(a) requirements.
As of February 28, 1996, the aggregate market value of the outstanding voting
common stock held by nonaffiliates of the registrant, computed by reference to
the price at which said stock was actually sold in a transaction known to
management which took place on or about February 14, 1997, (management believes
$50.00 was paid per share) was $8,100,450. This price was determined from this
transaction known to management of the registrant since its stock is not
extensively traded, listed on any exchange, or quoted by NASDAQ.
The total number of shares of the registrant's common stock outstanding as of
February 28, 1997, was 192,500.
Documents Incorporated by Reference
Part of Form 10-K into which
Document the document is incorporated Articles of Incorporation, from 12/31/94
10-K Part IV, Item 14 By-Laws, from 12/31/94 Report 10-K Part IV, Item 14
Material Employment Contract, from 12/31/94 Report 10-K Part IV, Item 14
Material Lease Contract, from 03/31/96 Form 10-Q Part IV, Item 14 S-8 Statement,
from 07/31/96 Form S-8 Part IV, Item 14
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
FIRST NATIONAL BANKSHARES
CORPORATION (Registrant)
By: /s/ L. Thomas Bulla 03/25/97
------------------------------------
L. Thomas Bulla
President, Chief Executive
Officer and Director
(Principal Executive Officer)
Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the registrant and
in the capacities and on the dates indicated.
/s/ Lucie T. Refsland 03/25/97
- ------------------------------------ --------------------------------------
S. Elwood Bare, Director Lucie T. Refsland, Director
/s/ William R. Satterfield Jr.03/25/97
- ------------------------------------ --------------------------------------
John R. Dawkins, Director William R. Satterfield, Jr., Director
/s/ Richard E. Ford 03/25/97 /s/ Richard L. Skaggs 03/25/97
- ------------------------------------ --------------------------------------
Richard E. Ford, Director Richard L. Skaggs, Director
/s/ Bennett Fuller 03/25/97 /s/ Ronald B. Snyder 03/25/97
- ------------------------------------ --------------------------------------
Bennett Fuller, Director Ronald B. Snyder, Director
/s/ William D. Goodwin 03/25/97
- ------------------------------------
William D. Goodwin, Director
/s/ L. Thomas Bulla 03/25/97 /s/ Keith E. Morgan 03/25/97
- ------------------------------------ --------------------------------------
L. Thomas Bulla, President, Chief Keith E. Morgan, Secretary & Treasurer
Executive Officer and Director
(Principal Executive Officer)
/s/ Jack D. Whitt 03/25/97
- ------------------------------------
Jack D. Whitt,
Chief Financial Officer, First National Bank
(Principal Financial and Accounting Officer)
<PAGE>
EXHIBIT (27)
FINANCIAL DATA SCHEDULE
- -------------------------------------------------------------------------------
DATE: 12/31/96
[TYPE] EX-27
[DESCRIPTION] FDS --
[TEXT]
[ARTICLE] 9
[CIK]
[NAME] First National Bankshares Corporation
[MULTIPLIER] 1,000
[CURRENCY] U.S. DOLLARS
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-START] JAN-01-1996
[PERIOD-END] DEC-31-1996
[EXCHANGE-RATE] 1.00000
[CASH] 2576
[INT-BEARING-DEPOSITS] 63105
[FED-FUNDS-SOLD] 2663
[TRADING-ASSETS] 0
[INVESTMENTS-HELD-FOR-SALE] 3781
[INVESTMENTS-CARRYING] 18836
[INVESTMENTS-MARKET] 18850
[LOANS] 52800
[ALLOWANCE] 654
[TOTAL-ASSETS] 83668
[DEPOSITS] 73316
[SHORT-TERM] 492
[LIABILITIES-OTHER] 1019
[LONG-TERM] 0
[PREFERRED-MANDATORY] 0
[PREFERRED] 0
[COMMON] 963
[OTHER-SE] 7878
[TOTAL-LIABILITIES-AND-EQUITY] 83668
[INTEREST-LOAN] 4667
[INTEREST-INVEST] 1284
[INTEREST-OTHER] 215
[INTEREST-TOTAL] 6166
[INTEREST-DEPOSIT] 2380
[INTEREST-EXPENSE] 2393
[INTEREST-INCOME-NET] 3773
[LOAN-LOSSES] 0
[SECURITIES-GAINS] 1
[EXPENSE-OTHER] 3140
[INCOME-PRETAX] 1066
[INCOME-PRE-EXTRAORDINARY] 1066
[EXTRAORDINARY] 0
[CHANGES] 0
[NET-INCOME] 736
[EPS-PRIMARY] 3.82
[EPS-DILUTED] 3.82
[YIELD-ACTUAL] 8.32
[LOANS-NON] 161
[LOANS-PAST] 0
[LOANS-TROUBLED] 0
[ALLOWANCE-OPEN] 643
[CHARGE-OFFS] 117
[RECOVERIES] 128
[ALLOWANCE-CLOSE] 654
[ALLOWANCE-DOMESTIC] 654
[ALLOWANCE-FOREIGN] 0
[ALLOWANCE-UNALLOCATED] 0
</TABLE>
