NASB Financial, Inc. Announces Financial Results

KANSAS CITY, Mo., Dec. 13, 2024 /PRNewswire/ — NASB Financial, Inc. (the “Company”) NASB announced today net income for the quarter ended September 30, 2024, of $6.1 million or $0.84 per share. This compares to net income of $6.8 million or $0.92 per share for the quarter ended June 30, 2024, and $6.6 million or $0.90 per share for the quarter ended September 30, 2023.

Net income for the year ended September 30, 2024, was $28.3 million or $3.83 per share. This compares to net income of $21.6 million or $2.92 per share for the year ended September 30, 2023. Earnings for the year ended September 30, 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.

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				Twelve Months Ended
					9/30/24	6/30/24		9/30/23	9/30/24	9/30/23
EARNINGS DATA:
		Net interest income	$		19,904	19,802		19,403	77,939	83,470
		Provision for credit losses			(71)	(9)		—	(1,534)	—
		Non-interest income			873	1,174		2,230	6,103	8,163
		Non-interest expense			13,071	12,399		12,806	50,021	54,595
		Income tax expense			1,633	1,803		2,172	7,298	9,112
		Net loss from discontinued operations, net of tax			—	—		(18)	—	(6,279)
		Net income	$		6,144	6,783		6,637	28,257	21,647

FINANCIAL CONDITION DATA:
	Total assets		$		2,860,399	2,787,478	2,814,082		2,860,399	2,814,082
	Total loans held for investments and mortgage-backed securities, net			2,170,905		2,160,856	2,126,420		2,170,905	2,126,420
	Customer and brokered deposit accounts			1,729,642		1,699,859	1,794,430		1,729,642	1,794,430
	Stockholders’ equity			413,204		407,079	386,106		413,204	386,106

FINANCIAL RATIOS AND PER SHARE DATA:
	Book value per share		$	57.18		55.06	52.28		57.18	52.28
	Earnings per share			0.84		0.92	0.90		3.83	2.92
	Cash dividends paid per share			0.25		0.25	0.25		1.00	1.60

	Return on assets (annualized net income divided by total average assets)			0.87 %		0.96 %	0.96 %		1.00 %	0.79 %
	Return on equity (annualized net income divided by average stockholders’ equity)				5.99 %	6.70 %	6.86 %		7.07 %	5.66 %

	Weighted average shares outstanding			7,327,387		7,392,789	7,402,071		7,377,073	7,408,745