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 5, 2007) - NASB Financial, Inc. (NASDAQ:
NASB) announced today net income for the quarter ended December 31, 2006, of
$4,574,000 or $0.55 per share. This compares to net income of $5,666,000 or
$0.68 per share for the quarter ended September 30, 2006, and compares to
net income of $5,209,000 or $0.62 per share for the quarter ended December
31, 2005. The decrease in earnings for the quarter ended December 31, 2006,
was primarily the result of continued pressure on the net interest margin
and a difficult mortgage-lending environment.
During the quarter ended December 31, 2006, the company paid a
quarterly dividend on common stock of $0.225 per share. 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.
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 and Springfield, Missouri
as well as Overland Park and Leawood, Kansas.
(Financial Highlights Schedule Attached)
<page>
<Table>
<Caption>
NASB Financial, Inc.
Financial Highlights
(Dollars in thousands, except per share data)
Three months ended
-------------------------------------
12/31/06 9/30/06 12/31/05
-------------------------------------
EARNINGS DATA:
Net interest income $ 10,699 11,109 12,260
Provision for loan losses 126 337 65
Non-interest income 5,495 6,740 5,841
Non-interest expense 8,629 8,298 9,897
Income tax expense 2,865 3,548 2,930
------- ------- -------
Net income $ 4,574 5,666 5,209
======= ======= =======
FINANCIAL CONDITION DATA:
Total assets $ 1,559,654 1,524,796 1,552,886
Total loans and mortgage-backed
and related securities 1,453,411 1,435,755 1,438,684
Customer and brokered deposit
accounts 813,484 851,042 848,105
Stockholders' equity 159,532 156,572 149,578
FINANCIAL RATIOS AND PER SHARE DATA:
Book value per share $ 19.18 18.82 17.77
Earnings per share 0.55 0.68 0.62
Cash dividends paid per share 0.225 0.225 0.45
Return on assets (annualized net income
divided by total average assets) 1.19% 1.47% 1.34%
Return on equity (annualized net income
divided by average stockholder's equity) 11.58% 14.62% 13.96%
Weighted average shares outstanding 8,318,642 8,437,664 8,434,562
</Table>
<Page>