GRANDVIEW, Miss., May 5, 2015 /PRNewswire/ -- NASB Financial,
Inc. (NASDAQ: NASB) announced today net income for the quarter
ended March 31, 2015, of $4,032,000 or $0.54
per share. This compares to net income of $4,260,000 or $0.57
per share for the quarter ended December 31,
2014, and compares to net income of $6,181,000 or $0.79
per share for the quarter ended March 31,
2014.
The results for the quarter ended March
31, 2014, included a negative provision for loan losses of
$5.0 million to reduce the Bank's
Allowance for Loan and Lease Losses ("ALLL") consistent with the
Bank's ALLL methodology. The negative provision was based
primarily on notable improvement in the Bank's credit quality and
improvement in the real estate markets in which the Bank
operates. Excluding the after tax impact of the negative loan
loss provisions, net income for the quarter ended March 31, 2014, would have been $2,931,000 or $0.37
per share.
Net income for the six months ended March
31, 2015, was $8,292,000 or
$1.11 per share. This compares
to net income of $8,180,000 or
$1.04 per share for the six months
ended March 31, 2014, which included
a negative provision for loan losses of $5.0
million. Excluding the after tax impact of the
negative loan loss provision, net income would have been
$4,930,000 or $0.63 per share for the six months ended
March 31, 2014.
NASB Financial, Inc. is a unitary thrift holding company for
North American Savings Bank, F.S.B. ("NASB"), a regional bank
headquartered in Grandview,
Missouri. Since 1927, NASB has been serving the financial
needs of customers by providing an array of personal banking,
investment 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. NASB is
designated as a Top 100 Mortgage Lender and a Top 25 VA
Mortgage Lender by Inside Mortgage Finance. 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
|
|
Six Months
Ended
|
|
|
3/31/15
|
12/31/14
|
3/31/14
|
|
3/31/15
|
3/31/14
|
|
EARNINGS
DATA:
|
|
|
|
|
|
|
|
|
Net interest
income
|
$
|
11,852
|
11,242
|
10,689
|
|
23,094
|
21,578
|
|
Provision for loan
losses
|
|
--
|
--
|
(5,000)
|
|
--
|
(5,000)
|
|
Non-interest
income
|
|
11,137
|
10,566
|
8,765
|
|
21,703
|
16,066
|
|
Non-interest
expense
|
|
16,786
|
15,254
|
14,945
|
|
32,040
|
30,065
|
|
Income tax expense
(benefit)
|
|
2,171
|
2,294
|
3,328
|
|
4,465
|
4,399
|
|
|
Net income
(loss)
|
$
|
4,032
|
4,260
|
6,181
|
|
8,292
|
8,180
|
|
|
|
|
|
|
|
|
|
FINANCIAL
CONDITION DATA:
|
|
|
|
|
|
|
|
|
Total
assets
|
$
|
1,356,299
|
1,300,256
|
1,184,745
|
|
1,356,299
|
1,184,745
|
|
Total loans and
mortgage-backed and related
securities
|
|
1,100,321
|
1,046,855
|
820,600
|
|
1,100,321
|
820,600
|
|
Customer and brokered
deposit accounts
|
|
839,179
|
787,853
|
755,204
|
|
839,179
|
755,204
|
|
Stockholders'
equity
|
|
189,003
|
201,068
|
200,374
|
|
189,003
|
200,374
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL RATIOS
AND PER SHARE DATA:
|
|
|
Book value per
share
|
$
|
25.41
|
27.03
|
25.47
|
|
25.41
|
25.47
|
|
Earnings (loss) per
share
|
|
0.54
|
0.57
|
0.79
|
|
1.11
|
1.04
|
|
Cash dividends paid
per share
|
|
2.30
|
0.10
|
0.60
|
|
2.40
|
0.60
|
|
|
|
|
|
|
|
|
|
|
|
Return on assets
(annualized net income
divided by total
average assets)
|
|
1.21%
|
1.38%
|
2.09%
|
|
1.31%
|
1.40%
|
|
Return on equity
(annualized net income divided by
average stockholders' equity)
|
|
8.27%
|
8.50%
|
12.60%
|
|
8.53%
|
8.26%
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares outstanding
|
|
7,439,332
|
7,444,157
|
7,867,614
|
|
7,441,771
|
7,867,614
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/nasb-financial-inc-announces-financial-results-300078156.html
SOURCE NASB Financial, Inc.