NASB Financial, Inc. Announces Financial Results

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NASB Financial, Inc. reported a net income of $8.6 million or $1.16 per share for Q4 2021, a decline from $9.9 million or $1.34 per share in Q3 2021 and $26.7 million or $3.61 per share in Q4 2020. The total assets decreased to $2.19 billion from $2.36 billion in the previous quarter. The net interest income slightly fell to $22.35 million, while non-interest income dropped to $22.34 million, compared to previous quarters. The earnings outlook shows a decrease, indicating potential challenges ahead.

Positive

• Book value per share increased to $53.29 from $53.13.
• Stockholders' equity rose to $394.94 million.

Negative

• Net income decreased significantly from $26.68 million in Q4 2020 to $8.62 million in Q4 2021.
• Net interest income showed a decline compared to previous quarters.
• Total assets decreased by $172.56 million from Q3 2021 to Q4 2021.
• Non-interest income decreased from $24.36 million in Q3 2021.

KANSAS CITY, Mo., Feb. 9, 2022 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended December 31, 2021, of $8.6 million or $1.16 per share.  This compares to net income of $9.9 million or $1.34 per share for the quarter ended September 30, 2021, and compares to net income of $26.7 million or $3.61 per share for the quarter ended December 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)

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NASB Financial, Inc.
Financial Highlights
(Dollars in thousands, except per share data)
			Three Months Ended
			12/31/21	9/30/21	12/31/20
EARNINGS DATA:
	Net interest income	$	22,348	22,629	25,698
	Provision for loan losses		--	--	--
	Non-interest income		22,339	24,358	46,689
	Non-interest expense		33,345	34,884	37,238
	Income tax expense		2,720	2,196	8,471
	Net income	$	8,622	9,907	26,678
FINANCIAL CONDITION DATA:
	Total assets	$	2,186,808	2,359,371	2,599,116
	Total loans held for sale		360,836	576,927	675,383
	Total loans held for investment and       mortgage-backed securities, net		1,381,376	1,392,783	1,535,963
	Customer and brokered deposit      accounts		1,348,531	1,351,337	1,683,992
	Stockholders' equity		394,943	393,346	374,189
FINANCIAL RATIOS AND PER SHARE DATA:
	Book value per share	$	53.29	53.13	50.51
	Earnings (loss) per share		1.16	1.34	3.61
	Cash dividends paid per share		0.75	2.00	0.55
	Return on assets (annualized net income      divided by total average assets)		1.52%	1.70%	4.14%
	Return on equity (annualized net income      divided by average stockholders' equity)		8.75%	10.01%	29,46%
	Weighted average shares outstanding		7,408,720	7,402,738	7,400,089

 

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SOURCE NASB Financial, Inc.

FAQ

What were NASB Financial's earnings for Q4 2021?

NASB Financial reported a net income of $8.6 million or $1.16 per share for Q4 2021.

How did NASB Financial's Q4 2021 results compare to the previous year?

In Q4 2020, NASB Financial had a net income of $26.7 million or $3.61 per share.

What is the total assets of NASB Financial as of Q4 2021?

As of Q4 2021, NASB Financial's total assets were $2.19 billion.

What were the changes in NASB Financial's stockholders' equity?

Stockholders' equity increased to $394.94 million in Q4 2021.

How does NASB Financial's book value per share compare to the previous quarter?

Book value per share increased to $53.29 from $53.13 in the previous quarter.