NASB Financial, Inc. Announces Financial Results

GRANDVIEW, Mo., Dec. 13, 2019 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended September 30, 2019, of $14,004,000 or $1.90 per share.  This compares to net income of $13,328,000 or $1.80 per share for the quarter ended June 30, 2019, and $8,477,000 or $1.15 per share for the quarter ended September 30, 2018. 

Net income for the year ended September 30, 2019, was $43,167,000 or $5.85 per share.  This compares to net income of $29,131,000 or $3.94 per share for the year ended September 30, 2018.  The increase in earnings for the current year was primarily attributable to higher asset balances, increased mortgage banking activity, and a one-time gain from the sale of real estate owned by the Company.

NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. ("NASB"), a community bank headquartered in Grandview, Missouri.  Since 1927, NASB has been serving the financial needs of customers by providing an array of personal banking and lending products in the Kansas City metro area.  Nationwide, NASB offers competitive residential and commercial mortgages with the safety and security of a Federal institution.  For more information, visit nasb.com.

(Financial Highlights Schedule Attached)

NASB Financial, Inc.

Financial Highlights

(Dollars in thousands, except per share data)















Three Months Ended


Twelve Months Ended





  9/30/19

 6/30/19

  9/30/18


9/30/19

9/30/18

EARNINGS DATA:










Net interest income


$

22,378

20,795

20,916


82,672

77,928


Provision for loan losses



--

--

275


1,750

2,625


Non-interest income



20,826

17,627

8,855


56,286

37,299


Non-interest expense



24,532

20,651

18,001


79,652

69,991


Income tax expense



4,668

4,443

3,018


14,389

13,480


     Net income


$

14,004

13,328

8,477


43,167

29,131











FINANCIAL CONDITION DATA:







Total assets


$

2,605,225

2,451,353

2,060,361


2,605,225

2,060,361


Total loans held for sale



420,428

289,818

123,245


420,428

123,245


Total loans held for investment and mortgage-backed securities, net



1,911,521

1,900,404

1,717,358


1,911,521

1,717,358


Customer and brokered deposit accounts



1,828,972

1,709,492

1,536,226


1,828,972

1,536,226


Stockholders' equity



262,267

251,681

231,681


262,267

231,681











FINANCIAL RATIOS AND PER SHARE DATA:


Book value per share


$

35.56

34.08

31.37


35.56

31.37


Earnings per share



1.90

1.80

1.15


5.85

3.94


Cash dividends paid per share



0.50

0.50

0.50


2.00

3.82












Return on assets (annualized net income divided by total average assets)



2.22%

2.25%

1.67%


1.85%

1.41%


Return on equity (annualized net income divided by average stockholders' equity)



21.80%

21.66%

14.79%


17.48%

12.54%




Weighted average shares outstanding



7,381,378

7,384,851

7,384,851


7,383,976

7,384,604


 

Cision

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SOURCE NASB Financial, Inc.