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04.02.2020 23:40:00
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NASB Financial, Inc. Announces Financial Results
GRANDVIEW, Mo., Feb. 4, 2020 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended December 31, 2019, of $14.7 million or $1.99 per share. This compares to net income of $14.0 million or $1.90 per share for the quarter ended September 30, 2019, and compares to net income of $8.1 million or $1.10 per share for the quarter ended December 31, 2018. The increase in earnings from the same quarter in the prior fiscal year was primarily attributable to higher loan balances and increased mortgage banking activity.
NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. ("NASB"), a community bank headquartered in Grandview, Missouri. 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 | ||||||||||||||||||
12/31/19 | 9/30/19 | 12/31/18 | ||||||||||||||||
EARNINGS DATA: | ||||||||||||||||||
Net interest income | $ | 23,349 | 22,378 | 19,599 | ||||||||||||||
Provision for loan losses | -- | -- | 750 | |||||||||||||||
Non-interest income | 19,630 | 20,826 | 8,779 | |||||||||||||||
Non-interest expense | 23,332 | 24,532 | 16,811 | |||||||||||||||
Income tax expense | 4,977 | 4,668 | 2,704 | |||||||||||||||
Net income | $ | 14,670 | 14,004 | 8,113 | ||||||||||||||
FINANCIAL CONDITION DATA: | ||||||||||||||||||
Total assets | $ | 2,515,844 | 2,605,225 | 2,197,987 | ||||||||||||||
Total loans held for sale | 361,348 | 420,428 | 172,127 | |||||||||||||||
Total loans held for investment and mortgage-backed securities, net | 1,881,657 | 1,911,521 | 1,814,341 | |||||||||||||||
Customer and brokered deposit accounts | 1,637,785 | 1,828,972 | 1,661,259 | |||||||||||||||
Stockholders' equity | 273,506 | 262,267 | 234,632 | |||||||||||||||
FINANCIAL RATIOS AND PER SHARE DATA: | ||||||||||||||||||
Book value per share | $ | 37.08 | 35.56 | 31.77 | ||||||||||||||
Earnings (loss) per share | 1.99 | 1.90 | 1.10 | |||||||||||||||
Cash dividends paid per share | 0.50 | 0.50 | 0.50 | |||||||||||||||
Return on assets (annualized net incomedivided by total average assets) | 2.29% | 2.22% | 1.52% | |||||||||||||||
Return on equity (annualized net incomedivided by average stockholders' equity) | 21.90% | 21.80% | 13.92% | |||||||||||||||
Weighted average shares outstanding | 7,375,103 | 7,381,378 | 7,384,851 | |||||||||||||||
View original content:http://www.prnewswire.com/news-releases/nasb-financial-inc-announces-financial-results-300999039.html
SOURCE NASB Financial, Inc.
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