PR Newswire
KANSAS CITY, Mo., Dec. 14, 2020 /PRNewswire/ — NASB Financial, Inc. (the “Company”) (OTCQX: NASB) announced today net income for the quarter ended September 30, 2020, of $39.2 million or $5.30 per share. This compares to net income of $40.5 million or $5.48 per share for the quarter ended June 30, 2020, and $14.0 million or $1.90 per share for the quarter ended September 30, 2019.
Net income for the year ended September 30, 2020, was $103.5 million or $14.02 per share. This compares to net income of $43.2 million or $5.85 per share for the year ended September 30, 2019. The increase in earnings was primarily attributable to higher volumes of mortgage banking activity in the current year.
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. Nationwide, NASB offers competitive residential and commercial mortgages with the safety and security of a Federal institution. For more information, visit nasb.com.
(Financial Highlights Schedule Attached)
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(Dollars in thousands, except per share data) |
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Three Months Ended |
Twelve Months Ended |
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9/30/20 |
6/30/20 |
9/30/19 |
9/30/20 |
9/30/19 |
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Net interest income |
$ |
24,577 |
23,923 |
22,378 |
94,231 |
82,672 |
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Provision for loan losses |
7,500 |
1,900 |
— |
10,150 |
1,750 |
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Non-interest income |
75,095 |
66,584 |
20,826 |
174,544 |
56,286 |
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Non-interest expense |
39,160 |
34,223 |
24,532 |
119,332 |
79,652 |
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Income tax expense |
13,818 |
13,868 |
4,668 |
35,788 |
14,389 |
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Net income |
$ |
39,194 |
40,516 |
14,004 |
103,505 |
43,167 |
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Total assets |
` |
$ |
2,552,198 |
2,600,212 |
2,605,225 |
2,552,198 |
2,605,225 |
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Total loans held for sale |
493,212 |
486,077 |
420,428 |
493,212 |
420,428 |
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Total loans held for investment and |
1,646,143 |
1,742,954 |
1,911,521 |
1,646,143 |
1,911,521 |
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Customer and brokered deposit accounts |
1,752,768 |
1,824,617 |
1,828,972 |
1,752,768 |
1,828,972 |
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Stockholders’ equity |
350,382 |
314,883 |
262,267 |
350,382 |
262,267 |
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Book value per share |
$ |
47.42 |
42.62 |
35.56 |
47.42 |
35.56 |
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Earnings per share |
5.30 |
5.48 |
1.90 |
14.02 |
5.85 |
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Cash dividends paid per share |
0.55 |
0.55 |
0.50 |
2.15 |
2.00 |
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Return on assets (annualized net income |
6.09% |
6.20% |
2.22% |
4.01% |
1.85% |
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Return on equity (annualized net income |
47.13% |
55.15% |
21.80% |
33.79% |
17.48% |
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Weighted average shares outstanding |
7,388,493 |
7,389,089 |
7,381,378 |
7,384,118 |
7,383,976 |
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SOURCE NASB Financial, Inc.
