SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, D. C. 20549


                                    FORM 8-K


                                 CURRENT REPORT


                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported): November 16, 2004



                            HIGHLANDS BANKSHARES, INC.
             (Exact name of registrant as specified in its charter)


      West Virginia                       0-16761                55-0650793
- ------------------------           -------------------         -------------
(State or other jurisdiction of   (Commission File Number)    (I.R.S. Employer
incorporation or organization)                               Identification No.)


        P. O. Box 929
 Petersburg, West Virginia                                         26847
  -----------------------------                                --------------
(Address of principal executive offices)                          (Zip Code)

       Registrant's telephone number, including area code (304) 257-4111


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

___     Written  communications  pursuant  to Rule  425  under the Securities
        Act (17 CFR 230.425)

___     Soliciting  material  pursuant  to  Rule  14a-12  under  the Exchange
        Act  (17 CFR 240.14a-12)

___     Pre-commencement  communications  pursuant to Rule  14d-2(b)
        under the Exchange Act (17 CFR 240.14d-2(b))

___     Pre-commencement  communications  pursuant to Rule  13e-4(c) under the
        Exchange Act (17 CFR 240.13e-4(c))


 2



Item 8  Other Events


     The Board of Directors of Highlands Bankshares, Inc, at its regularly
scheduled meeting held November 9, 2004, declared a dividend of 18 cents per
share. This dividend is payable on December 15, 2004 to shareholders of record
December 1, 2004.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                       HIGHLAND BANKSHARES, INC.
                                       (Registrant)

                                       /s/ R. ALAN MILLER
                                       ------------------------------
                                       R. Alan Miller
                                       Finance Officer

November 15, 2004