NASB Financial, Inc. Announces Financial Results

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December 14, 2023 3:44 PM EST

KANSAS CITY, Mo., Dec. 14, 2023 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended September 30, 2023, of $6.6 million or $0.90 per share. This compares to net income of $8.4 million or $1.14 per share for the quarter ended June 30, 2023, and $4.5 million or $0.61 per share for the quarter ended September 30, 2022. 

Net income for the year ended September 30, 2023, was $21.6 million or $2.92 per share. This compares to net income of $32.1 million or $4.33 per share for the year ended September 30, 2022. Earnings for the year ended September 30, 2023, included pre-tax charges of $4.6 million, or $0.47 per share, related to the Company's exit of its consumer direct lending business, which occurred during the quarter ended March 31, 2023.

NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. ("NASB"). 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. NASB offers competitive residential and commercial mortgages nationwide 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






9/30/23

6/30/23

9/30/22


  9/30/23

  9/30/22


EARNINGS DATA:










Net interest income


$

19,403

20,482

23,195


83,470

81,929



Provision for loan losses



--

--

750


--

750



Non-interest income



2,230

3,633

1,974


8,163

18,499



Non-interest expense



12,806

12,684

14,882


54,595

58,723



Income tax expense



2,172

2,812

2,136


9,112

9,375



Income (loss) from discontinued

   operations, net of tax



(18)

                                            

(202)

(2,876)


(6,279)

510



     Net income


$

6,637

8,417

4,525


21,647

32,090













FINANCIAL CONDITION DATA:











Total assets


$

2,814,082

2,734,499

2,644,364


2,814,082

2,644,364



Total loans held for investments and

    mortgage-backed securities, net

2,126,420

2,132,139

2,033,849


2,126,420

2,033,849



Customer and brokered deposit    

     accounts



1,794,430

1,740,341

1,496,041


1,794,430

1,496,041



Stockholders' equity



386,106

387,491

378,878


386,106

378,878













FINANCIAL RATIOS AND PER SHARE DATA:



Book value per share


$

52.28

52.31

51.15


52.28

51.15



Earnings per share



0.90

1.14

0.61


2.92

4.33



Cash dividends paid per share



0.25

0.25

0.85


1.60

3.30














Return on assets (annualized net income

     divided by total average assets)

0.96 %

1.23 %

0.71 %


0.79 %

1.28 %



Return on equity (annualized net income

     divided by average stockholders' equity)

6.86 %

8.75 %

4.71 %


5.66 %

8.31 %














Weighted average shares outstanding



7,402,071

7,407,337

7,407,279


7,408,745

7,408,456



















Cision View original content:https://www.prnewswire.com/news-releases/nasb-financial-inc-announces-financial-results-302016093.html

SOURCE NASB Financial, Inc.


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