NASB Financial : May 10, 2023 NASB Financial Inc. Announces Financial Results
May 10, 2023 at 06:12 pm
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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 (May 10, 2023) - NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended March 31, 2023, of $1.9 million or $0.26 per share. This compares to net income of $4.7 million or $0.63 per share for the quarter ended December 31, 2022, and compares to net income of $8.8 million or $1.19 per share for the quarter ended March 31, 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 six months ended March 31, 2023, was $6.6 million or $0.89 per share.
This compares to net income of $17.4 million or $2.35 per share for the six months ended March 31, 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
3/31/23
12/31/22
3/31/22
EARNINGS DATA:
Net interest income
$
21,508
22,077
18,809
Provision for loan losses
--
--
--
Non-interest income
1,156
1,144
8,310
Non-interest expense
15,233
13,872
14,423
Income tax expense
1,828
2,300
2,913
Income (loss) from discontinued
operations, net of tax
(3,702)
(2,357)
(964)
Net income
$
1,901
4,692
8,819
FINANCIAL CONDITION DATA:
Total assets
$
2,761,904
2,520,202
2,206,699
Total loans held for investments and
mortgage-backed securities, net
2,144,966
2,132,757
1,531,834
Customer and brokered deposit
accounts
1,729,421
1,633,934
1,357,520
Stockholders' equity
382,170
378,445
391,895
FINANCIAL RATIOS AND PER SHARE DATA:
Six Months Ended
3/31/23 3/31/22
43,585
37,873
--
--
2,300
13,556
29,105
29,901
4,128
5,016
(6,059)
929
6,593
17,441
2,761,904 2,206,699
2,144,966 1,531,834
1,729,421 1,357,520
382,170 391,895
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)
51.59
51.03
52.90
0.26
0.63
1.19
0.25
0.85
0.85
0.29%
0.73%
1.61%
2.00%
4.96%
8.97%
51.59 52.90
0.89 2.35
1.10 1.60
0.49% 1.53%
3.47% 8.88%
Weighted average shares outstanding
7,412,861
7,412,785
7,409,460
7,412,823 7,409,086
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Disclaimer
NASB Financial Inc. published this content on 10 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2023 22:11:01 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.