NASB Financial, Inc.

NEWS RELEASE

Contact: Rhonda Nyhus

NASB Financial, Inc.

903 E. 104th Street, Suite 400

Kansas City, MO 64131

Phone (816) 765-2200

FOR IMMEDIATE RELEASE:

NASB Financial, Inc. Announces Financial Results

Kansas City, Missouri (August 9, 2023) - NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended June 30, 2023, of $8.4 million or $1.14 per share. This compares to net income of $1.9 million or $0.26 per share for the quarter ended March 31, 2023, and compares to net income of $10.1 million or $1.37 per share for the quarter ended June 30, 2022. Earnings for the quarter ended March 31, 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.

Net income for the nine months ended June 30, 2023, was $15.0 million or $2.03 per share. This compares to net income of $27.6 million or $3.72 per share for the nine months ended June 30, 2022.

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

6/30/23

3/31/23

6/30/22

EARNINGS DATA:

Net interest income

$

20,482

21,508

20,861

Provision for loan losses

--

--

--

Non-interest income

3,633

1,156

2,969

Non-interest expense

12,684

15,233

13,940

Income tax expense

2,812

1,828

2,223

Income (loss) from discontinued

operations, net of tax

(202)

(3,702)

2,457

Net income

$

8,417

1,901

10,124

FINANCIAL CONDITION DATA:

Total assets

$

2,734,499

2,761,904

2,478,684

Total loans held for investments and

mortgage-backed securities, net

2,132,139

2,144,966

1,784,758

Customer and brokered deposit

accounts

1,740,341

1,729,421

1,354,561

Stockholders' equity

387,491

382,170

389,106

FINANCIAL RATIOS AND PER SHARE DATA:

Nine Months Ended

6/30/23 6/30/22

64,067

58,734

--

--

5,933

16,525

41,789

43,841

6,940

7,239

(6,261)

3,386

15,010

27,565

2,734,499 2,478,684

2,132,139 1,784,758

1,740,341 1,354,561

387,491 389,106

Book value per share

$

Earnings per share

Cash dividends paid per share

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

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

52.31

51.59

52.53

1.14

0.26

1.37

0.25

0.25

0.85

1.23%

0.29%

1.73%

8.75%

2.00%

10.37%

52.31 52.53

2.03 3.72

1.35 2.45

0.74% 1.52%

5.22% 9.39%

Weighted average shares outstanding

7,407,337

7,412,861

7,407,884

7,410,994 7,408,853

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Disclaimer

NASB Financial Inc. published this content on 09 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2023 21:42:43 UTC.