NASB Financial, Inc. Announces Financial Results

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August 7, 2019 12:01 PM EDT

GRANDVIEW, Mo., Aug. 7, 2019 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended June 30, 2019, of $13,328,000 or $1.80 per share.  This compares to net income of $7,722,000 or $1.05 per share for the quarter ended March 31, 2019, and compares to net income of $7,531,000 or $1.02 per share for the quarter ended June 30, 2018.

The increase in earnings for the current quarter 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. 

Net income for the nine months ended June 30, 2019, was $29,163,000 or $3.95 per share.  This compares to net income of $20,654,000 or $2.80 per share for the nine months ended June 30, 2018.

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

Nine Months Ended

    6/30/19

    3/31/19

   6/30/18

   6/30/19

   6/30/18

EARNINGS DATA:

Net interest income

$

20,795

19,900

19,620

60,294

57,012

Provision for loan losses

--

1,000

500

1,750

2,350

Non-interest income

17,627

9,054

8,396

35,460

28,444

Non-interest expense

20,651

17,658

16,983

55,120

51,990

Income tax expense

4,443

2,574

3,002

9,721

10,462

     Net income

$

13,328

7,722

7,531

29,163

20,654

FINANCIAL CONDITION DATA:

Total assets

$

2,451,353

2,288,549

1,996,012

2,451,353

1,996,012

Total loans held for sale

289,818

188,346

123,748

289,818

123,748

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

1,900,404

1,887,689

1,650,993

1,900,404

1,650,993

Customer and brokered deposit accounts

1,709,492

1,770,762

1,481,446

1,709,492

1,481,446

Stockholders' equity

251,681

240,586

226,752

251,681

226,752

FINANCIAL RATIOS AND PER SHARE DATA:

Book value per share

$

34.08

32.58

30.71

34.08

30.71

Earnings per share

1.80

1.05

1.02

3.95

2.80

Cash dividends paid per share

0.50

0.50

0.50

1.50

3.32

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

2.25%

1.38%

1.54%

1.72%

1.36%

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

21.66%

13.00%

13.37%

16.09%

11.98%

Weighted average shares outstanding

7,384,851

7,384,851

7,384,851

7,384,851

7,384,521

 

Cision View original content:http://www.prnewswire.com/news-releases/nasb-financial-inc-announces-financial-results-300898075.html

SOURCE NASB Financial, Inc.


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