NASB Financial, Inc.
NEWS RELEASE
Contact: Rhonda Nyhus
Vice President
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 (February 6, 2006) - NASB Financial, Inc. (NASDAQ:
NASB) announced today net income for the quarter ended December 31, 2005, of
$5,209,000 or $0.62 per share. This compares to net income of $6,439,000 or
$0.77 per share for the quarter ended September 30, 2005, and compares to
net income of $6,919,000 or $0.82 per share for the quarter ended December
31, 2004. The decrease in earnings for the quarter ended December 31, 2005,
was primarily the result of lower mortgage lending volumes and changes in
the interest rate environment.
During the quarter ended December 31, 2005, the company paid a
quarterly dividend on common stock of $0.225 per share and a special
dividend of $0.225 per share. During the quarter ended December 31, 2004,
the company paid a quarterly dividend on common stock of $0.20 per share and
a special dividend of $0.80 per share.
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.
(Financial Highlights Schedule Attached)
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NASB Financial, Inc.
Financial Highlights
(Dollars in thousands, except per share data)
Three months ended
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12/31/05 9/30/05 12/31/04
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EARNINGS DATA:
Net interest income $ 12,260 12,216 13,232
Provision for loan losses 65 105 167
Non-interest income 5,841 9,094 6,504
Non-interest expense 9,897 11,145 8,673
Income tax expense 2,930 3,621 3,977
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Net income $ 5,209 6,439 6,919
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FINANCIAL CONDITION DATA:
Total assets $ 1,552,886 1,556,344 1,417,560
Total loans and mortgage-backed
and related securities 1,438,684 1,450,377 1,325,082
Customer and brokered deposit
accounts 848,105 802,694 679,044
Stockholders' equity 149,578 148,887 137,886
FINANCIAL RATIOS AND PER SHARE DATA:
Book value per share $ 17.77 17.65 16.31
Earnings per share 0.62 0.77 0.82
Cash dividends paid per share 0.45 0.225 1.00
Return on assets (annualized net income
divided by total average assets) 1.34% 1.68% 1.99%
Return on equity (annualized net income
divided by average stockholder's equity) 13.96% 17.51% 19.99%
Weighted average shares outstanding 8,434,562 8,444,371 8,455,442
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