NASB

NASB Financial, Inc.

 
Common Stock U.S. Bank/Thrift Reporting
OTCQX U.S. Premier
 

OTC Disclosure & News Service

 

NASB Financial, Inc. Announces Financial Results

May 05, 2015

OTC Disclosure & News Service

- NASB Financial, Inc. Announces Financial Results

NASB Financial, Inc. Announces Financial Results

PR Newswire

GRANDVIEW, Miss., May 5, 2015 /PRNewswire/ -- NASB Financial, Inc. (NASDAQ: NASB) announced today net income for the quarter ended March 31, 2015, of $4,032,000 or $0.54 per share.  This compares to net income of $4,260,000 or $0.57 per share for the quarter ended December 31, 2014, and compares to net income of $6,181,000 or $0.79 per share for the quarter ended March 31, 2014.

The results for the quarter ended March 31, 2014, included a negative provision for loan losses of $5.0 million to reduce the Bank's Allowance for Loan and Lease Losses ("ALLL") consistent with the Bank's ALLL methodology.  The negative provision was based primarily on notable improvement in the Bank's credit quality and improvement in the real estate markets in which the Bank operates.  Excluding the after tax impact of the negative loan loss provisions, net income for the quarter ended March 31, 2014, would have been $2,931,000 or $0.37 per share. 

Net income for the six months ended March 31, 2015, was $8,292,000 or $1.11 per share.  This compares to net income of $8,180,000 or $1.04 per share for the six months ended March 31, 2014, which included a negative provision for loan losses of $5.0 million.  Excluding the after tax impact of the negative loan loss provision, net income would have been $4,930,000 or $0.63 per share for the six months ended March 31, 2014.

NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. ("NASB"), a regional bank headquartered in Grandview, Missouri.  Since 1927, NASB has been serving the financial needs of customers by providing an array of personal banking, investment 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.  NASB is designated as a Top 100 Mortgage Lender and a Top 25 VA Mortgage Lender by Inside Mortgage Finance.  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


Six Months Ended



3/31/15

12/31/14

3/31/14


3/31/15

3/31/14

EARNINGS DATA:









Net interest income

$

11,852

11,242

10,689


23,094

21,578


Provision for loan losses


--

--

(5,000)


--

(5,000)


Non-interest income


11,137

10,566

8,765


21,703

16,066


Non-interest expense


16,786

15,254

14,945


32,040

30,065


Income tax expense (benefit)


2,171

2,294

3,328


4,465

4,399



Net income (loss)

$

4,032

4,260

6,181


8,292

8,180









FINANCIAL CONDITION DATA:









Total assets

$

1,356,299

1,300,256

1,184,745


1,356,299

1,184,745


Total loans and mortgage-backed and related securities


1,100,321

1,046,855

820,600


1,100,321

820,600


Customer and brokered deposit accounts


839,179

787,853

755,204


839,179

755,204


Stockholders' equity


189,003

201,068

200,374


189,003

200,374











FINANCIAL RATIOS AND PER SHARE DATA:



Book value per share

$

25.41

27.03

25.47


25.41

25.47


Earnings (loss) per share


0.54

0.57

0.79


1.11

1.04


Cash dividends paid per share


2.30

0.10

0.60


2.40

0.60












Return on assets (annualized net income

divided by total average assets)


1.21%

1.38%

2.09%


1.31%

1.40%


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


8.27%

8.50%

12.60%


8.53%

8.26%












Weighted average shares outstanding


7,439,332

7,444,157

7,867,614


7,441,771

7,867,614

 

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nasb-financial-inc-announces-financial-results-300078156.html

SOURCE NASB Financial, Inc.

Copyright © 2015 PR Newswire. All Rights Reserved


The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.