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.