NASB Financial, Inc. (NASB: OTCQX U.S. Premier) | NASB Financial, Inc. Announces Financial Results

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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.

Source: otc markets

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