NASB Financial, Inc. Announces Financial Results

GRANDVIEW, Mo., Feb. 6, 2019

During the quarter ended December 31, 2017, the Company recorded additional income tax expense of $1.2 million to recognize an impairment of its deferred tax asset due to reduced corporate tax rates in the Tax Cuts and Jobs Act, which was enacted on December 22, 2017.  In addition, the Company implemented a change in its valuation technique for measuring the market value of commitments to originate loans and forward loan sales commitments, which resulting in an increase in non-interest income of $1.5 million during the quarter ended December 31, 2017. 

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 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) ARIVA.DE Börsen-Geflüster Kurse Nasb Financial 32,49 $ +0,59%
									Three Months Ended
									12/31/18		9/30/18				12/31/17
EARNINGS DATA:
	Net interest income							$	19,599		20,916				19,047
	Provision for loan losses								750		275				--
	Non-interest income								8,779		8,855				11,662
	Non-interest expense								16,811		18,001				17,802
	Income tax expense								2,704		3,018				6,192
	Net income							$	8,113		8,477				6,715
FINANCIAL CONDITION DATA:
	Total assets							$	2,197,987		2,060,361				2,011,430
	Total loans held for sale								172,127		123,245				136,368
	Total loans held for investment and mortgage-backed securities, net								1,814,341		1,717,358				1,541,385
	Customer and brokered deposit accounts								1,661,259		1,536,226				1,282,939
	Stockholders' equity								234,632		231,681				237,206
FINANCIAL RATIOS AND PER SHARE DATA:
	Book value per share							$	31.77		31.37				32.12
	Earnings (loss) per share								1.10		1.15				0.91
	Cash dividends paid per share								0.50		0.50				0.32
	Return on assets (annualized net income divided by total average assets)								1.52%		1.67%				1.32%
	Return on equity (annualized net income divided by average stockholders' equity)								13.92%		14.79%				11.43%
	Weighted average shares outstanding								7,384,851		7,384,851				7,384,301

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SOURCE NASB Financial, Inc.