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NASB Financial, Inc. Announces Financial Results

Freitag, 15.12.2017 17:50 von PR Newswire

PR Newswire

GRANDVIEW, Mo., Dec. 15, 2017 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended September 30, 2017, of $7.2 million or $0.98 per share.  This compares to net income of $6.7 million or $0.91 per share for the quarter ended June 30, 2017, and $8.0 million or $1.08 per share for the quarter ended September 30, 2016. 

Net income for the year ended September 30, 2017 increased $7.0 million, or 31.3%, to $29.4 million or $3.98 per share, compared to net income of $22.4 million  or $3.02 per share for the twelve months ended September 30, 2016. 

The decline in earnings for the three months ended September 30, 2017, as compared to the same period in the prior year, was primarily attributable to a decrease in non-interest income resulting from a lower volume of mortgage loans sold during the current fiscal quarter.  This decline was largely offset by higher interest income due to growth in the average portfolio of loans held for investment of $168.9 million, or 12.3%, from the prior year, anda decrease in non-interest expense resulting from lower loan origination volume in the Company's mortgage banking division.  The improved earnings for the year ended September 30, 2017, as compared to the year ended September 30, 2016, were primarily attributable to the increase in average portfolio loan balances of $268.3 million, or 22.3%.

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


Twelve Months Ended





  9/30/17

 6/30/17

  9/30/16


9/30/17

9/30/16

EARNINGS DATA:


Net interest income


$

19,126

19,888

16,940


74,114

60,648


Provision for loan losses



--

400

--


950

1,350


Non-interest income



11,883

10,177

18,602


50,796

51,971


Non-interest expense



19,268

18,759

22,782


76,420

75,808


Income tax expense



4,520

4,199

4,732


18,143

13,068


     Net income


$

7,221

6,707

8,028


29,397

22,393











FINANCIAL CONDITION DATA:


Total assets


$

2,062,302

2,074,089

1,949,677


2,062,302

1,949,677


Total loans held for sale



171,992

174,098

250,868


171,992

250,868


Total loans held for investment and mortgage-backed securities, net



1,544,688

1,530,059

1,336,178


1,544,688

1,336,178


Customer and brokered deposit accounts



1,296,112

1,324,141

1,277,293


1,296,112

1,277,293


Stockholders' equity



232,969

226,807

214,383


232,969

214,383











FINANCIAL RATIOS AND PER SHARE DATA:


Book value per share


$

31.55

30.72

28.92


31.55

28.92


Earnings per share



0.98

0.91

1.08


3.98

3.02


Cash dividends paid per share



0.32

0.32

0.26


1.22

0.98












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



1.40%

1.34%

1.74%


1.47%

1.29%


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



12.56%

11.93%

15.23%


13.14%

10.87%












Weighted average shares outstanding



7,384,262

7,383,569

7,413,009


7,394,714

7,413,009











 

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SOURCE NASB Financial, Inc.