NASB Financial, Inc. Announces Financial Results

KANSAS CITY, Mo., Aug. 9, 2023 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended June 30, 2023, of $8.4 million or $1.14 per share. This compares to net income of $1.9 million or $0.26 per share for the quarter ended March 31, 2023, and compares to net income of $10.1 million or $1.37 per share for the quarter ended June 30, 2022 . Earnings for the quarter ended March 31, 2023, included pre-tax charges of $4.6 million, or $0.47 per share, related to the Company's exit of its consumer direct lending business.

Net income for the nine months ended June 30, 2023, was $15.0 million or $2.03 per share. This compares to net income of $27.6 million or $3.72 per share for the nine months ended June 30, 2022.

NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. ("NASB"). Since 1927, NASB has been serving the financial needs of customers by providing an array of personal banking and lending products in the Kansas City metro area. NASB offers competitive residential and commercial mortgages nationwide with the safety and security of a Federal institution. For more information, visit nasb.com.

(Financial Highlights Schedule Attached)

NASB Financial, Inc.
Financial Highlights
(Dollars in thousands, except per share data)
										Three Months Ended												Nine Months Ended
										6/30/23			3/31/23				6/30/22					6/30/23			6/30/22
EARNINGS DATA:
		Net interest income					$			20,482			21,508				20,861					64,067			58,734
		Provision for loan losses								--			--				--					--			--
		Non-interest income								3,633			1,156				2,969					5,933			16,525
		Non-interest expense								12,684			15,233				13,940					41,789			43,841
		Income tax expense								2,812			1,828				2,223					6,940			7,239
		Income (loss) from discontinued operations, net of tax								(202)			(3,702)				2,457					(6,261)			3,386
		Net income					$			8,417			1,901				10,124					15,010			27,565
FINANCIAL CONDITION DATA:
	Total assets						$			2,734,499			2,761,904		2,478,684							2,734,499			2,478,684
	Total loans held for investments and mortgage-backed securities, net								2,132,139				2,144,966		1,784,758							2,132,139			1,784,758
	Customer and brokered deposit accounts								1,740,341				1,729,421		1,354,561							1,740,341			1,354,561
	Stockholders' equity								387,491				382,170		389,106							387,491			389,106
FINANCIAL RATIOS AND PER SHARE DATA:
	Book value per share						$		52.31				51.59		52.53							52.31			52.53
	Earnings per share								1.14				0.26		1.37							2.03			3.72
	Cash dividends paid per share								0.25				0.25		0.85							1.35			2.45
	Return on assets (annualized net income divided by total average assets)								1.23 %				0.29 %		1.73 %							0.74 %			1.52 %
	Return on equity (annualized net income divided by average stockholders' equity)								8.75 %				2.00 %		10.37 %							5.22 %			9.39 %
	Weighted average shares outstanding								7,407,337				7,412,861		7,407,884							7,410,994			7,408,853

SOURCE NASB Financial, Inc.