NASB Financial : December 16, 2022 NASB Financial Inc. Announces Financial Results
December 16, 2022 at 04:12 pm EST
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NASB Financial, Inc.
NEWS RELEASE
Contact: Rhonda Nyhus
Vice President and Treasurer
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 (December 16, 2022) - NASB Financial, Inc. (the "Company")
(OTCQX: NASB) announced today net income for the quarter ended September 30, 2022, of $4.5 million or $0.61 per share. This compares to net income of $10.1 million or $1.37 per share for the quarter ended June 30, 2022, and $9.9 million or $1.34 per share for the quarter ended September 30, 2021.
Net income for the year ended September 30, 2022, was $32.1 million or $4.33 per share. This compares to net income of $73.7 million or $9.96 per share for the year ended September 30, 2021. The decline in earnings for the current year was primarily attributable to a decrease in mortgage banking profit.
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. Nationwide, NASB offers competitive residential and commercial mortgages 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
9/30/22
6/30/22
9/30/21
EARNINGS DATA:
Net interest income
$
23,964
21,914
22,629
Provision for loan losses
750
--
--
Non-interest income
6,420
16,276
24,358
Non-interest expense
23,912
25,041
34,884
Income tax expense
1,197
3,025
2,196
Net income
$
4,525
10,124
9,907
FINANCIAL CONDITION DATA:
Total assets
` $
2,644,364
2,478,684
2,359,371
Total loans held for sale
129,281
220,131
576,927
Total loans held for investment and
mortgage-backed securities, net
2,033,849
1,784,758
1,392,783
Customer and brokered deposit accounts
1,496,041
1,354,561
1,351,337
Stockholders' equity
378,878
389,106
393,346
FINANCIAL RATIOS AND PER SHARE DATA:
Book value per share
$
51.15
52.53
53.13
Earnings per share
0.61
1.37
1.34
Cash dividends paid per share
0.85
0.85
2.00
Return on assets (annualized net income
divided by total average assets)
0.71%
1.73%
1.70%
Return on equity (annualized net income
divided by average stockholders' equity)
4.71%
10.37%
10.01%
Weighted average shares outstanding
7,407,279
7,407,884
7,402,738
Twelve Months Ended
9/30/22 9/30/21
89,168 97,849
750--
63,188 145,614
109,975 149,048
9,541 20,709
32,090 73,706
2,644,364 2,359,371
129,281 576,927
2,033,849 1,392,783
1,496,041 1,351,337
378,878 393,346
51.15 53.13
4.33 9.96
3.30 4.05
1.28% 3.00%
8.31% 19.82%
7,408,456 7,402,949
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Disclaimer
NASB Financial Inc. published this content on 16 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 December 2022 21:12:08 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.