NASB Financial : August 9, 2023 NASB Financial Inc. Announces Financial Results
August 09, 2023 at 05:43 pm EDT
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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.
NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. (the Bank). The Bank is engaged in providing an array of personal banking, investment and lending products in the Kansas City metro area. The Bank offers residential and commercial mortgages. It offers banking solutions including checking accounts, savings accounts, certificates of deposits (CDs), money market accounts, mortgage loans and commercial loans. Its lending activities include home loans, mortgage refinances, mortgage programs and mortgage customer service. Its investment real estate lending includes commercial real estate loans, construction and development loans, individual retirement account lending and investment property loan. Its branches are located in Grandview, Lee's Summit, Independence, Harrisonville, Kansas City, Platte City, Excelsior Springs, St. Joseph and Lexington, Missouri.