NASB Financial, Inc. Announces Financial Results

Published on Wednesday, 08 February 2012 11:16 Written by TradersHuddle Staff

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