NATIONAL BANKSHARES, INC.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $15.8M | $7.6M | $15.7M | $25.9M | $20.4M | $16.1M | $17.5M | $16.2M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $1.1M | $900.0K | $754.0K | $609.0K | $636.0K | $708.0K | $739.0K | $766.0K |
| Amortization | $373.0K | $237.0K | $0 | — | — | — | — | $50.0K |
| Stock-Based Compensation | $193.0K | $128.0K | $42.0K | $0 | — | — | — | — |
| Net Cash from Operating Activities | $17.9M | $9.4M | $15.5M | $29.5M | $22.9M | $13.8M | $18.8M | $19.8M |
| Investing Activities | ||||||||
| Capital Expenditures | $2.7M | $3.3M | $1.5M | $1.3M | $323.0K | $1.8M | $1.0M | $1.2M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-39.2M | $15.8M | $53.2M | $-129.7M | $-193.2M | $-177.6M | $-61.7M | $-3.6M |
| Financing Activities | ||||||||
| Dividends Paid | $9.6M | $9.3M | $14.8M | $9.0M | $8.8M | $9.0M | $9.0M | $8.4M |
| Stock Repurchases | — | — | $0 | $6.3M | $13.4M | $1.7M | $18.5M | — |
| Net Cash from Financing Activities | $-27.6M | $-3.7M | $-53.5M | $32.9M | $175.3M | $166.7M | $40.3M | $-16.2M |
| Net Change in Cash | $-48.9M | $21.5M | $15.2M | $-67.4M | $4.9M | $2.9M | $-2.6M | $-44.0K |
| Free Cash Flow | $15.2M | $6.2M | $14.0M | $28.2M | $22.6M | $12.0M | $17.8M | $18.6M |