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NASB Financial, Inc. Announces Financial Results

Freitag, 06.05.2016 21:45 von PR Newswire

PR Newswire

GRANDVIEW, Mo., May 6, 2016 /PRNewswire/ -- NASB Financial, Inc. (OTCQX: NASB) announced today net income for the quarter ended March 31, 2016, of $3,969,000 or $0.54 per share.  This compares to net income of $5,769,000 or $0.78 per share for the quarter ended December 31, 2015, and compares to net income of $4,032,000 or $0.54 per share for the quarter ended March 31, 2015.

Included in non-interest income for the three months ended March 31, 2016, are reductions of $1.2 million for non-cash accounting adjustments to reflect the fair value of residential loans held for sale and to record the fair value of outstanding loan commitments. 

Net income for the six months ended March 31, 2016, was $9,738,000 or $1.31 per share.  This compares to net income of $8,292,000 or $1.11 per share for the six months ended March 31, 2015.

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 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




3/31/16

12/31/15

3/31/15


3/31/16

3/31/15

EARNINGS DATA:










Net interest income


$

14,573

13,871

11,852


28,444

23,094


Provision for loan losses



300

550

--


850

--


Non-interest income



9,194

12,170

11,137


21,364

21,703


Non-interest expense



17,171

16,431

16,786


33,602

32,040


Income tax expense (benefit)



2,327

3,291

2,171


5,618

4,465


     Net income (loss)


$

3,969

5,769

4,032


9,738

8,292











FINANCIAL CONDITION DATA:










Total assets


$

1,680,090

1,598,898

1,356,299


1,680,090

1,356,299


Total loans and mortgage-backed and related securities



1,342,841

1,248,242

1,100,321


1,342,841

1,100,321


Customer and brokered deposit accounts



1,097,936

1,045,414

839,179


1,097,936

839,179


Stockholders' equity



202,767

200,898

189,003


202,767

189,003











FINANCIAL RATIOS AND PER SHARE DATA:




Book value per share


$

27.35

27.10

25.41


27.35

25.41


Earnings (loss) per share



0.54

0.78

0.54


1.31

1.11


Cash dividends paid per share



0.26

0.20

2.30


0.46

2.40












Return on assets (annualized net income divided by total average assets)



0.97%

1.47%

1.21%


1.21%

1.31%


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



7.87%

11.58%

8.27%


9.73%

8.53%












Weighted average shares outstanding



7,413,009

7,413,009

7,439,332


7,413,009

7,441,771

 

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nasb-financial-inc-announces-financial-results-300264555.html

SOURCE NASB Financial, Inc.