NASB Financial, Inc. Announces Financial Results

GRANDVIEW, Mo.-( Business Wire )-

NASB Financial, Inc. (NASDAQ: NASB) announced today net income for the quarter ended December 31, 2011, of $4,939,000 or $0.63 per share. This compares to net income of $6,885,000 or $0.87 per share for the quarter ended September 30, 2011, and compares to a net loss of $3,035,000 or $(0.39) per share for the quarter ended December 31, 2010.

NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. (“North American” or the “Bank”). North American operates six offices in greater Kansas City, Missouri and others in Harrisonville, St. Joseph, and Excelsior Springs, Missouri. The Bank also has loan origination offices in Kansas City, Lee’s Summit, and Springfield, Missouri.

 

NASB Financial, Inc.

Financial Highlights

(Dollars in thousands, except per share data)

 
  Three Months Ended
12/31/11   9/30/11   12/31/10
EARNINGS DATA:    
Net interest income $ 14,119 13,255 13,040
Provision for loan losses 2,500 10,526
Non-interest income 10,549 10,756 9,086
Non-interest expense 14,137 12,816 16,535
Income tax expense (benefit)   3,092     4,310     (1,900 )
Net income (loss) $ 4,939     6,885     (3,035 )
 
FINANCIAL CONDITION DATA:
Total assets $ 1,205,525 1,253,584 1,332,129

Total loans and mortgage-backed and related securities

1,026,190

1,072,429

1,180,298

Customer and brokered deposit accounts

882,551

809,675

898,646

Stockholders’ equity 155,349 150,378 164,762
 
FINANCIAL RATIOS AND PER SHARE DATA:
Book value per share $ 19.75 19.11 20.94
Earnings (loss) per share 0.63 0.87 (0.39 )
Cash dividends paid per share
 

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

1.61

%

2.19

%

(0.88

)%

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

12.92

%

18.67

%

(7.30

)%

 
Weighted average shares outstanding 7,867,614 7,867,614 7,867,614

NASB Financial, Inc.Rhonda Nyhus, 816-765-2200Vice President

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