NASB Financial, Inc. Announces Financial Results

Rhea-AI Summary

NASB Financial, Inc. reported a net income of $4.7 million ($0.63 per share) for the quarter ending December 31, 2022. This reflects a slight increase from $4.5 million ($0.61 per share) in the previous quarter but a significant decline from $8.6 million ($1.16 per share) year-over-year. The net interest income decreased to $22.4 million from $23.9 million in the last quarter. Non-interest income also fell to $4.3 million from $6.4 million compared to the previous quarter. The total assets were reported at $2.52 billion, down from $2.64 billion at the previous quarter.

Positive

• Net income increased from $4.5 million in Q3 2022 to $4.7 million in Q4 2022.
• Earnings per share improved from $0.61 to $0.63 quarter-over-quarter.

Negative

• Net income decreased significantly from $8.6 million in Q4 2021.
• Net interest income declined from $23.9 million to $22.4 million quarter-over-quarter.
• Non-interest income decreased from $6.4 million to $4.3 million quarter-over-quarter.
• Total assets decreased from $2.64 billion to $2.52 billion.

KANSAS CITY, Mo., Feb. 8, 2023 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended December 31, 2022, of $4.7 million or $0.63 per share.  This compares to net income of $4.5 million or $0.61 per share for the quarter ended September 30, 2022, and compares to net income of $8.6 million or $1.16 per share for the quarter ended December 31, 2021. 

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
									12/31/22		9/30/22				12/31/21
EARNINGS DATA:
		Net interest income						$	22,436		23,964				22,348
		Provision for loan losses							--		750				--
		Non-interest income							4,264		6,420				22,339
		Non-interest expense							20,477		23,912				33,345
		Income tax expense							1,531		1,197				2,720
		Net income						$	4,692		4,525				8,622
FINANCIAL CONDITION DATA:
	Total assets							$	2,520,202		2,644,364				2,186,808
	Total loans held for sale								77,864		129,281				360,836
	Total loans held for investment and       mortgage-backed securities, net								2,132,757		2,033,849				1,381,376
	Customer and brokered deposit      accounts								1,633,934		1,496,041				1,348,531
	Stockholders' equity								378,445		378,878				394,943
FINANCIAL RATIOS AND PER SHARE DATA:
	Book value per share							$	51.03		51.15				53.29
	Earnings (loss) per share								0.63		0.61				1.16
	Cash dividends paid per share								0.85		0.85				0.75
	Return on assets (annualized net income      divided by total average assets)								0.73 %		0.71 %				1.52 %
	Return on equity (annualized net income      divided by average stockholders' equity)								4.96 %		4.71 %				8.75 %
	Weighted average shares outstanding								7,412,785		7,407,279				7,408,720

 

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SOURCE NASB Financial, Inc.

FAQ

What were the earnings for NASB Financial, Inc. in Q4 2022?

NASB Financial, Inc. reported earnings of $4.7 million, or $0.63 per share, for the quarter ending December 31, 2022.

How does NASB Financial's Q4 2022 income compare to Q3 2022?

In Q4 2022, NASB Financial's net income increased from $4.5 million in Q3 2022 to $4.7 million.

What was the total asset value for NASB Financial, Inc. as of December 31, 2022?

As of December 31, 2022, NASB Financial, Inc. reported total assets of $2.52 billion.

What was NASB Financial's non-interest income in Q4 2022?

NASB Financial's non-interest income in Q4 2022 was $4.3 million.