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 (April 19, 2005) - NASB Financial, Inc. (NASDAQ:
NASB) announced today net income for the quarter ended March 31, 2005, of
$6,067,000 or $0.72 per share. This compares to net income of $6,919,000 or
$0.82 per share for the quarter ended December 31, 2004, and compares to net
income of $7,095,000 or $0.84 per share for the quarter ended March 31,
2004.
Net income for the six months ended March 31, 2005, was $12,986,000 or
$1.54 per share, compared to net income of $12,839,000 or $1.52 per share
for the six months ended March 31, 2004.
NASB Financial, Inc. is a unitary thrift holding company for North
American Savings Bank, F.S.B. ("North American" or the "Bank"). North
American operates five offices in greater Kansas City, Missouri and others
in Harrisonville, St. Joseph, and Excelsior Springs, Missouri. The Bank
also has loan origination offices in Lee's Summit, Springfield, St. Charles
and St. Louis, Missouri as well as Overland Park, and Leawood, Kansas, and
Davenport, Iowa.
(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
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3/31/05 12/31/04 3/31/04 3/31/05 3/31/04
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EARNINGS DATA:
Net interest income $ 12,589 13,232 13,404 25,821 26,286
Provision for loan losses 250 167 -- 417 --
Non-interest income 6,024 6,504 6,502 12,528 10,071
Non-interest expense 8,883 8,673 8,733 17,556 15,957
Income tax expense 3,413 3,977 4,078 7,390 7,561
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Net income $ 6,067 6,919 7,095 12,986 12,839
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FINANCIAL CONDITION DATA:
Total assets $ 1,466,633 1,417,560 1,332,566 1,466,633 1,332,566
Total loans and mortgage-backed
and related securities 1,389,122 1,133,470 1,253,465 1,389,122 1,253,465
Customer and brokered deposit
accounts 747,041 679,044 649,651 747,041 649,651
Stockholders' equity 140,562 137,866 131,908 140,562 131,908
FINANCIAL RATIOS AND PER SHARE DATA:
Book value per share $ 16,62 16.31 15.60 16.62 15.60
Earnings per share 0.72 0.82 0.84 1.54 1.52
Cash dividends paid per share 0.225 1.00 0.20 1.225 1.05
Return on assets (annualized net income
divided by total average assets) 1.68% 1.99% 2.23% 1.84% 2.10%
Return on equity (annualized net income
divided by average stockholder's equity) 17.43% 19.99% 22.00% 18.58% 19.80%
Weighted average shares outstanding 8,455,442 8,455 442 8,455,469 8,455,442 8,453,882
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