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): October 23, 2006


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, WV
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))


 
 
 

Page 2

Item 2.02 Results of Operations and Financial Condition
 
On October 23, 2006, Highlands Bankshares, Inc. issued a press release announcing results for the quarterly and nine month periods September 30, 2006. A copy of the press release is being furnished as Exhibit to this report and is incorporated by reference into this item 99.1.


Item 9.01 Financial Statements and Exhibits

(a) Exhibits
 
99.1    Press release issued October 23, 2006

 
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.

 
HIGHLANDS BANKSHARES, INC.
 
(Registrant)
   
 
/s/R. Alan Miller
 
R. Alan Miller
   
October 23, 2006