NASB Financial (NASB) 8-K NASB Financial, Inc. Announces Financial Results

Exhibit 99.1

NASB Financial, Inc.

NEWS RELEASE

Contact:	Rhonda Nyhus
	NASB Financial, Inc.
	12498 South 71 Highway
	Grandview, MO 64030
	Phone (816) 765-2200

FOR IMMEDIATE RELEASE:

NASB Financial, Inc. Announces Financial Results

Grandview, Missouri (May 9, 2014) - NASB Financial, Inc. (NASDAQ: NASB) announced today net income for the quarter ended March 31, 2014, of $6,181,000 or $0.79 per share. This compares to net income of $1,999,000 or $0.25 per share for the quarter ended December 31, 2013, and compares to net income of $11,018,000 or $1.40 per share for the quarter ended March 31, 2013.

Included in the results for the quarter ended March 31, 2014 is a negative provision for loan losses of $5.0 million to reduce the Bank’s Allowance for Loan and Lease Losses (“ALLL”) consistent with the Bank’s ALLL methodology. The negative provision was based primarily on notable improvement in the Bank’s credit quality and improvement 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 March 31, 2014, would have been $2,931,000 or $0.37 per share.

Included in the results for the quarters ended March 31, 2013, and December 31, 2012, are negative provisions for loan losses of $5.6 million and $4.0 million, respectively, which were necessary to reduce the Bank’s ALLL consistent with the Bank’s ALLL methodology. Excluding the after tax impact of those negative loan loss provisions, net income for the quarter ended March 31, 2013, would have been $7,574,000 or $0.96 per share and net income for the quarter ended December 31, 2012, would have been $5,857,000 or $0.73 per share.

Net income for the six months ended March 31, 2014, was $8,180,000 or $1.04 per share, which included a negative provision for loan losses of $5.0 million. Excluding the after tax impact of the negative loan loss provision, net income would have been $4,930,000 or $0.63 per share for the six months ended March 31, 2014. This compares to net income of $19,335,000 or $2.46 per share for the six months ended March 31, 2013, which included a negative provision for loan losses of $9.6 million. Excluding the after tax impact of the negative loan loss provision, net income would have been $13,431,000 or $1.71 per share for the six months ended March 31, 2013.

Non-interest income was $16,066,000 for the six month period ended March 31, 2014, compared to $35,462,000 for the six month period ended March 31, 2013. This decrease was primarily the result of lower residential loan origination volume in the Bank’s mortgage banking division.

NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. (“North American” or the “Bank”). As of March 31, 2014, the Bank’s Tier 1 leverage ratio and total risk-based capital ratio was 17.4% and 24.9%, respectively.

North American operates six offices in greater Kansas City, Missouri and others in Harrisonville, St. Joseph, and Excelsior Springs, Missouri. The Bank, a nationwide residential mortgage lender, also has loan origination offices in greater Kansas City, Missouri.

(Financial Highlights Schedule Attached)

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NASB Financial, Inc.

Financial Highlights

(Dollars in thousands, except per share data)

			Three Months Ended									Six Months Ended
			3/31/14			12/31/13			3/31/13			3/31/14			3/31/13
EARNINGS DATA:
Net interest income	$			10,689			10,889			10,891			21,578			22,072
Provision for loan losses				(5,000	)		—			(5,600	)		(5,000	)		(9,600	)
Non-interest income				8,765			7,301			18,965			16,066			35,462
Non-interest expense				14,945			15,120			17,540			30,065			35,695
Income tax expense (benefit)				3,328			1,071			6,898			4,399			12,104
Net income (loss)	$			6,181			1,999			11,018			8,180			19,335
FINANCIAL CONDITION DATA:
Total assets	$			1,184,745			1,181,290			1,179,036			1,184,745			1,179,036
Total loans and mortgage-backed and related securities		820,600					824,598			794,162			820,600			794,162
Customer and brokered deposit accounts				755,204			735,691			817,288			755,204			817,288
Stockholders’ equity				200,374			191,989			190,318			200,374			190,318
FINANCIAL RATIOS AND PER SHARE DATA:
Book value per share	$			25.47			24.40			24.19			25.47			24.19
Earnings (loss) per share				0.79			0.25			1.40			1.04			2.46
Cash dividends paid per share				0.60			—			—			0.60			—
Return on assets (annualized net income divided by total average assets)		2.09%					0.69	%		3.62	%		1.40	%		3.20	%
Return on equity (annualized net income divided by average stockholders’ equity)				12.60	%		4.13	%		23.81	%		8.26	%		21.38	%
Weighted average shares outstanding				7,867,614			7,867,614			7,867,614			7,867,614			7,867,614