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New words:
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Exhibit 21
Subsidiaries of the Registrant
Registrant: National Bankshares Inc.
Incorporated under the laws of the Commonwealth of Virginia
Subsidiaries of National Bankshares Inc.:
The National Bank of Blacksburg
Chartered under the laws of the United States
National Bankshares Financial Services, Inc.
Incorporated under the laws of the Commonwealth of Virginia
NB Operating, Inc.
Incorporated under the laws of the Commonwealth of Virginia