NASB Financial, Inc. (NASDAQ: NASB) announced today net income for the quarter ended December 31, 2009, of $1,329,000 or $0.17 per share. This compares to net income of $6,088,000 or $0.77 per share for the quarter ended September 30, 2009, and compares to net income of $3,648,000 or $0.46 per share for the quarter ended December 31, 2008.
The Company recorded an impairment charge of $2 million ($1.2 million, net of tax, or $0.16 per share) on its investment in LLCs during the quarter ended December 31, 2009.
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.
NASB Financial, Inc. | |||||||||||
Financial Highlights | |||||||||||
(Dollars in thousands, except per share data) | |||||||||||
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Three Months Ended | |||||||||||
12/31/09 | Â | 9/30/09 | Â | 12/31/08 | |||||||
EARNINGS DATA: | Â | Â | |||||||||
Net interest income | $ | 13,805 | 13,629 | 10,582 | |||||||
Provision for loan losses | 9,000 | 6,000 | 250 | ||||||||
Non-interest income | 10,200 | 13,323 | 5,199 | ||||||||
Non-interest expense | 13,657 | 11,541 | 9,599 | ||||||||
Income tax expense | 19 | Â | 3,323 | Â | 2,284 | ||||||
Net income | $ | 1,329 | Â | 6,088 | Â | 3,648 | |||||
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FINANCIAL CONDITION DATA: | |||||||||||
Total assets | $ | 1,527,170 | 1,559,562 | 1,526,454 | |||||||
Total loans and mortgage-backed and  related securities | 1,381,240 | 1,378,036 | 1,415,784 | ||||||||
Customer and brokered deposit  accounts | 872,357 | 904,625 | 835,232 | ||||||||
Stockholders' equity | 164,852 | 166,388 | 154,397 | ||||||||
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FINANCIAL RATIOS AND PER SHARE DATA: | |||||||||||
Book value per share | $ | 20.95 | 21.15 | 19.62 | |||||||
Earnings per share | 0.17 | 0.77 | 0.46 | ||||||||
Cash dividends paid per share | 0.225 | 0.225 | 0.225 | ||||||||
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Return on assets (annualized net income  divided by total average assets) | 0.34% | 1.53% | 0.96% | ||||||||
Return on equity (annualized net income  divided by average stockholders' equity) | 3.21% | 14.83% | 9.51% | ||||||||
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Weighted average shares outstanding | 7,867,614 | 7,867,614 | 7,867,614 |
Contacts:
NASB Financial, Inc.
Rhonda Nyhus, 816-765-2200
Vice
President