NASB Financial, Inc. Announces Financial Results

Rhea-AI Summary

NASB Financial reported a net income of $26.0 million or $3.51 per share for Q1 2021, compared to $26.7 million or $3.61 per share in Q4 2020, and $9.1 million or $1.24 in Q1 2020. For the six months ending March 31, 2021, net income was $52.6 million or $7.11 per share, up from $23.8 million or $3.22 in the same period last year. The company’s total assets amounted to $2.48 billion.

Positive

• Net income for Q1 2021 is $26.0 million, showing year-over-year growth.
• Earnings per share for Q1 2021 stands at $3.51, compared to $1.24 in Q1 2020.
• Strong financial performance with a net income increase for the first six months of 2021.

Negative

• Net income decreased from $26.7 million in Q4 2020 to $26.0 million in Q1 2021.

KANSAS CITY, Mo., May 5, 2021 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended March 31, 2021, of $26.0 million or $3.51 per share.  This compares to net income of $26.7 million or $3.61 per share for the quarter ended December 31, 2020, and compares to net income of $9.1 million or $1.24 per share for the quarter ended March 31, 2020.

Net income for the six months ended March 31, 2021, was $52.6 million or $7.11 per share.  This compares to net income of $23.8 million or $3.22 per share for the six months ended March 31, 2020. 

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)

NASB Financial, Inc.
Financial Highlights
(Dollars in thousands, except per share data)
										Three Months Ended												Six Months Ended
										3/31/21			12/31/20				3/31/20					3/31/21			3/31/20
EARNINGS DATA:
		Net interest income					$			24,631			25,698				22,382					50,329			45,731
		Provision for loan losses								--			--				750					--			750
		Non-interest income								48,046			46,689				13,235					94,735			32,865
		Non-interest expense								39,272			37,238				22,617					76,510			45,949
		Income tax expense (benefit)								7,438			8,471				3,125					15,909			8,102
		Net income (loss)					$			25,967			26,678				9,125					52,645			23,795
FINANCIAL CONDITION DATA:
	Total assets						$			2,483,553			2,599,116		2,631,296							2,483,553			2,631,296
	Total loans held for sale							681,268				675,383							390,635			681,268		390,635
	Total loans held for investments and     mortgage-backed securities, net							1,438,882				1,535,963							1,837,632			1,438,882		1,837,632
	Customer and brokered deposit          accounts								1,569,122				1,683,992		1,725,271							1,569,122			1,725,271
	Stockholders' equity								390,909				374,189		272,877							390,909			272,877
FINANCIAL RATIOS AND PER SHARE DATA:
	Book value per share						$		52.80				50.51		36.93							52.80			36.93
	Earnings per share								3.51				3.61		1.24							7.11			3.22
	Cash dividends paid per share								0.75				0.55		0.55							1.30			1.05
	Return on assets (annualized net income      divided by total average assets)							4.09%				4.14%							1.42%			4.18%		1.82%
	Return on equity (annualized net income      divided by average stockholders' equity)										27.15%	29.46%			13.36%								28.41%	17.79%
	Weighted average shares outstanding								7,406,069				7,400,089		7,383,836							7,403,046			7,379,421

 

 

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SOURCE NASB Financial, Inc.

FAQ

What is NASB Financial's net income for Q1 2021?

NASB Financial reported a net income of $26.0 million for Q1 2021.

How does NASB Financial's earnings per share compare year-over-year?

Earnings per share for Q1 2021 is $3.51, up from $1.24 in Q1 2020.

What were NASB Financial's total assets as of March 31, 2021?

Total assets amounted to $2.48 billion as of March 31, 2021.

What was NASB Financial's net income for the six months ending March 31, 2021?

Net income for the six months ending March 31, 2021, was $52.6 million.