National Bankshares Inc., the parent of National Bank of Blacksburg, said it made $12.7 million last year, about the same amount as the year before.

The company finished the year with a $3.2 million profit in the fourth quarter, amounting to 46 cents a share. The same was true for the last quarter of 2006, according to an earnings release Thursday.

James Rakes, the company's chairman, president and chief executive, said highlights of 2007 included increases in loans and cost-saving measures to offset lower net interest.

The company, which operates 26 branches in Southwest Virginia, set aside a larger sum to prepare for expected loan-related losses, $423,000 last year versus $49,000 in 2006. But Rakes called it "another solid year."

Total assets at Dec. 31 were nearly $887.65 million, an increase of 2.2 percent over the same period in 2006, according to the company. Net loans grew to $518.44 million, an increase of 4.6 percent.

Shares of National Bankshares, which trade under the symbol NKSH, closed Friday at $21.64, up $1.14.