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NASB Financial, Inc. Announces Financial Results

Freitag, 05.08.2016 22:40 von PR Newswire

PR Newswire

GRANDVIEW, Mo., Aug. 5, 2016 /PRNewswire/ -- NASB Financial, Inc. (OTCQX: NASB) announced today net income for the quarter ended June 30, 2016, of $4,627,000 or $0.62 per share.  This compares to net income of $3,969,000 or $0.54 per share for the quarter ended March 31, 2016, and compares to net income of $9,152,000 or $1.23 per share for the quarter ended June 30, 2015.

During the quarter ended June 30, 2015, the Bank recorded a negative provision for loan losses of $4.0 million, which was necessary to reduce the Bank's Allowance for Loan and Lease Losses ("ALLL") consistent with the Bank's ALLL methodology.  This negative provision was based primarily on notable improvement in the Bank's credit quality, recoveries recognized on the repayment of impaired loans, and improvements 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 June 30, 2015, would have been $6,552,000 or $0.88 per share. 

Net income for the nine months ended June 30, 2016, was $14,365,000 or $1.94 per share.  This compares to net income of $17,444,000 or $2.35 per share for the nine months ended June 30, 2015. 

Excluding the after tax impact of the negative loan loss provision, net income would have been $14,844,000 or $2.00 per share for the nine months ended June 30, 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


Nine Months Ended






 6/30/16

3/31/16

6/30/15


  6/30/16

  6/30/15


EARNINGS DATA:











Net interest income


$

15,264

14,573

12,566


43,708

35,660



Provision for loan losses



500

300

(4,000)


1,350

(4,000)



Non-interest income



12,005

9,194

15,069


33,369

36,772



Non-interest expense



19,424

17,171

17,556


53,026

49,596



Income tax expense



2,718

2,327

4,927


8,336

9,392



     Net income


$

4,627

3,969

9,152


14,365

17,444













FINANCIAL CONDITION DATA:











Total assets


$

1,743,580

1,680,090

1,439,548


1,743,580

1,439,548



Total loans and mortgage-backed and related securities



1,417,372

1,342,841

1,134,271


1,417,372

1,134,271



Customer and brokered deposit Accounts



1,122,002

1,097,936

913,188


1,122,002

913,188



Stockholders' equity



207,307

202,767

194,993


207,307

194,993













FINANCIAL RATIOS AND PER SHARE DATA:



Book value per share


$

27.96

27.35

26.30


27.96

26.30



Earnings (loss) per share



0.62

0.54

1.23


1.94

2.35



Cash dividends paid per share



0.26

0.26

0.20


0.72

2.60














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



1.08%

0.97%

2.62%


1.17%

1.78%



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



9.03%

7.87%

19.07%


9.46%

11.78%














Weighted average shares outstanding



7,413,009

7,413,009

7,415,604


7,413,009

7,433,049


 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nasb-financial-inc-announces-financial-results-300310057.html

SOURCE NASB Financial, Inc.