NASB Financial, Inc. Announces Financial Results

Rhea-AI Summary

NASB Financial, Inc. reported a net income of $26.7 million or $3.61 per share for Q4 2020, a decline from $39.2 million or $5.30 per share in Q3 2020 but an increase from $14.7 million or $1.99 per share year-over-year.

Net interest income rose to $25.7 million, while non-interest income decreased to $46.7 million. Total assets increased to $2.6 billion, and stockholders' equity reached $374.2 million.

Positive

• Net income increased from $14.7 million in Q4 2019 to $26.7 million in Q4 2020.
• Total assets rose to $2.6 billion, showing growth in the company's financial position.
• Stockholders' equity increased to $374.2 million, indicating a stronger capital base.

Negative

• Net income decreased from $39.2 million in Q3 2020 to $26.7 million in Q4 2020.
• Non-interest income fell significantly from $75.1 million in Q3 2020 to $46.7 million in Q4 2020.
• Return on equity dropped to 29.46% in Q4 2020 from 47.13% in Q3 2020.

KANSAS CITY, Mo., Feb. 9, 2021 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended December 31, 2020, of $26.7 million or $3.61 per share.  This compares to net income of $39.2 million or $5.30 per share for the quarter ended September 30, 2020, and compares to net income of $14.7 million or $1.99 per share for the quarter ended December 31, 2019. 

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
									12/31/20		9/30/20				12/31/19
EARNINGS DATA:
		Net interest income						$	25,698		24,577				23,349
		Provision for loan losses							--		7,500				--
		Non-interest income							46,689		75,095				19,630
		Non-interest expense							37,238		39,160				23,332
		Income tax expense							8,471		13,818				4,977
		Net income						$	26,678		39,194				14,670
FINANCIAL CONDITION DATA:
	Total assets							$	2,599,116		2,552,198				2,515,844
	Total loans held for sale								675,383		493,212				361,348
	Total loans held for investment and       mortgage-backed securities, net								1,535,963		1,646,143				1,881,657
	Customer and brokered deposit      accounts								1,683,992		1,752,768				1,637,785
	Stockholders' equity								374,189		350,382				273,506
FINANCIAL RATIOS AND PER SHARE DATA:
	Book value per share							$	50.51		47.42				37.08
	Earnings (loss) per share								3.61		5.30				1.99
	Cash dividends paid per share								0.55		0.55				0.50
	Return on assets (annualized net income      divided by total average assets)									4.14%	6.09%						2.29%
	Return on equity (annualized net income      divided by average stockholders' equity)									29.46%	47.13%						21.90%
	Weighted average shares outstanding									7,400,089	7,388,493						7,375,103

 

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SOURCE NASB Financial, Inc.

FAQ

What were the earnings results for NASB Financial in Q4 2020?

NASB Financial reported a net income of $26.7 million or $3.61 per share for Q4 2020.

How did NASB Financial's Q4 2020 performance compare to previous quarters?

Compared to Q3 2020, net income decreased from $39.2 million or $5.30 per share.

What was the non-interest income for NASB Financial in Q4 2020?

Non-interest income for Q4 2020 was $46.7 million, down from $75.1 million in Q3 2020.

What is the current stockholder equity of NASB Financial?

As of Q4 2020, NASB Financial's stockholders' equity stands at $374.2 million.

What was the return on equity for NASB Financial in Q4 2020?

Return on equity for Q4 2020 was 29.46%, down from 47.13% in Q3 2020.