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 (August 5, 2009) - NASB Financial, Inc. (NASDAQ:
NASB) announced today net income for the quarter ended June 30, 2009, of
$4,242,000 or $0.54 per share. This compares to net income of $4,731,000 or
$0.60 per share for the quarter ended March 31, 2009, and compares to net
income of $3,610,000 or $0.46 per share for the quarter ended June 30, 2008.
Net income for the nine months ended June 30, 2009, was $12,621,000 or
$1.60 per share, compared to net income of $8,285,000 or $1.05 per share for
the nine months ended June 30, 2008.
Net income for the quarter and nine months ended June 30, 2009, was
diminished by an increase in the provision for loan losses from the same
periods in the prior year. In addition, non-interest income and non-
interest expense for the quarter and nine months ended June 30, 2009,
increased from the comparative prior periods, primarily due to the
origination and subsequent sale of record volumes of residential loans
within the Company's mortgage banking segment.
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 six 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, Kansas.
(Financial Highlights Schedule Attached)
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NASB Financial, Inc.
Financial Highlights
(Dollars in thousands, except per share data)
Three months ended Nine months ended
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6/30/09 3/31/09 6/30/08 6/30/09 6/30/08
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EARNINGS DATA:
Net interest income $ 12,188 11,006 9,858 33,776 28,999
Provision for loan losses 4,000 1,000 1,600 5,250 3,000
Non-interest income 12,742 9,230 6,772 27,171 14,450
Non-interest expense 14,032 11,544 9,908 35,175 27,691
Income tax expense 2,656 2,961 1,512 7,901 4,473
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Net income $ 4,242 4,731 3,610 12,621 8,285
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FINANCIAL CONDITION DATA:
Total assets $ 1,615,130 1,549,748 1,571,172 1,615,130 1,571,172
Total loans and mortgage-backed
and related securities 1,425,905 1,408,702 1,450,957 1,425,905 1,450,957
Customer and brokered deposit
accounts 940,175 866,950 831,534 940,175 831,534
Stockholders' equity 161,937 157,689 152,771 161,937 152,771
FINANCIAL RATIOS AND PER SHARE DATA:
Book value per share $ 20.58 20.04 19.42 20.58 19.42
Earnings per share 0.54 0.60 0.46 1.60 1.05
Cash dividends paid per share 0.225 0.225 0.225 0.675 0.675
Return on assets (annualized net income
divided by total average assets) 1.07% 1.23% 0.93% 1.07% 0.72%
Return on equity (annualized net income
divided by average stockholders' equity) 10.62% 12.13% 9.50% 10.71% 7.31%
Weighted average shares outstanding 7,867,614 7,867,614 7,867,614 7,867,614 7,867,614
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