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NASB Financial, Inc. Announces Financial Results

Donnerstag, 10.08.2017 18:40 von PR Newswire

PR Newswire

GRANDVIEW, Mo., Aug. 10, 2017 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended June 30, 2017, of $6,707,000 or $0.91 per share.  This compares to net income of $5,007,000 or $0.68 per share for the quarter ended March 31, 2017, and compares to net income of $4,627,000 or $0.62 per share for the quarter ended June 30, 2016.

Net income for the nine months ended June 30, 2017, was $22,176,000 or $3.00 per share.  This compares to net income of $14,365,000 or $1.94 per share for the nine months ended June 30, 2016.

The improved earnings for the nine months ended June 30, 2017, as compared to the nine months ended June 30, 2016, were primarily attributable to higher interest income due to growth in the portfolio of loans held for investment of approximately 27% from the prior year, and, to a lesser degree, an increase in non-interest income resulting from a higher volume of mortgage loans sold during the first quarter of the current fiscal year.  These increases in earnings were partially offset by an increase in non-interest expense, as mortgage origination costs increased in line with higher loan origination volumes in the Company's mortgage banking division.  The improved earnings for the three months ended June 30, 2017, as compared to the same period in the prior fiscal year, were primarily attributable to loan growth.

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, 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.  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





    6/30/17

    3/31/17

   6/30/16


   6/30/17

   6/30/16

EARNINGS DATA:










Net interest income

$

19,888

17,496

15,264


54,988

43,708


Provision for loan losses


400

550

500


950

1,350


Non-interest income


10,177

9,060

12,005


38,913

33,369


Non-interest expense


18,759

17,865

19,424


57,152

53,026


Income tax expense


4,199

3,134

2,718


13,623

8,336


     Net income


$

6,707

5,007

4,627


22,176

14,365











FINANCIAL CONDITION DATA:










Total assets


$

2,074,089

1,916,697

1,743,580


2,074,089

1,743,580


Total loans and mortgage-backed and related securities

1,704,157

1,554,560

1,417,372


1,704,157

1,417,372


Customer and brokered deposit Accounts

1,324,141

1,249,200

1,122,002


1,324,141

1,122,002


Stockholders' equity



226,807

222,984

207,307


226,807

207,307











FINANCIAL RATIOS AND PER SHARE DATA:



Book value per share


$

30.72

30.21

27.96


30.72

27.96


Earnings (loss) per share



0.91

0.68

0.62


3.00

1.94


Cash dividends paid per share



0.32

0.32

0.26


0.90

0.72












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

1.34%

1.06%

1.08%


1.47%

1.17%


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

11.93%

9.03%

9.03%


13.40%

9.46%












Weighted average shares outstanding

7,383,569

7,397,964

7,413,009


7,398,236

7,413,009

 

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SOURCE NASB Financial, Inc.