NASB Financial, Inc. Announces Financial Results

Rhea-AI Summary

NASB Financial, Inc. reported a net income of $10.1 million or $1.37 per share for the quarter ended June 30, 2022, representing an increase from $8.8 million or $1.19 per share in the previous quarter but a decrease from $11.2 million or $1.51 per share year-over-year. For the nine months ending June 30, 2022, the net income stood at $27.6 million or $3.72 per share, significantly lower than $63.8 million or $8.62 per share for the same period in 2021.

Positive

• None.

Negative

• Net income decreased from $63.8 million for the nine months ended June 30, 2021, to $27.6 million in 2022, signifying a decline of over 56%.
• Quarterly net income of $10.1 million represents a year-over-year decrease from $11.2 million.

KANSAS CITY, Mo., Aug. 10, 2022 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended June 30, 2022, of $10.1 million or $1.37 per share.  This compares to net income of $8.8 million or $1.19 per share for the quarter ended March 31, 2022, and compares to net income of $11.2 million or $1.51 per share for the quarter ended June 30, 2021.

Net income for the nine months ended June 30, 2022, was $27.6 million or $3.72 per share.  This compares to net income of $63.8 million or $8.62 per share for the nine months ended June 30, 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.  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												Nine Months Ended
										6/30/22			3/31/22				6/30/21					6/30/22			6/30/21
EARNINGS DATA:
		Net interest income					$			21,914			20,942				24,891					65,204			75,220
		Provision for loan losses								--			--				--					--			--
		Non-interest income								16,276			18,153				26,521					56,768			121,256
		Non-interest expense								25,041			27,677				37,654					86,063			114,164
		Income tax expense (benefit)								3,025			2,599				2,604					8,344			18,513
		Net income (loss)					$			10,124			8,819				11,154					27,565			63,799
FINANCIAL CONDITION DATA:
	Total assets						$			2,478,684			2,206,699		2,310,047							2,478,684			2,310,047
	Total loans held for sale							220,131				166,625		459,896								220,131		459,896
	Total loans held for investments and     mortgage-backed securities, net							1,784,758				1,531,834		1,345,211								1,784,758		1,354,211
	Customer and brokered deposit          accounts								1,354,561				1,357,520		1,425,946							1,354,561			1,425,946
	Stockholders' equity								389,106				391,895		398,321							389,106			398,321
FINANCIAL RATIOS AND PER SHARE DATA:
	Book value per share						$		52.53				52.90		53.81							52.53			53.81
	Earnings per share								1.37				1.19		1.51							3.72			8.62
	Cash dividends paid per share								0.85				0.85		0.75							2.45			2.05
	Return on assets (annualized net income      divided by total average assets)							1.73 %				1.61 %		1.86 %								1.52 %		3.50 %
	Return on equity (annualized net income      divided by average stockholders' equity)										10.37 %	8.97 %			11.31 %								9.39 %	22.72 %
	Weighted average shares outstanding								7,407,884				7,409,460		7,402,969							7,408,853			7,403,021

 

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SOURCE NASB Financial, Inc.

FAQ

What are the earnings results for NASB Financial for Q2 2022?

NASB Financial reported a net income of $10.1 million or $1.37 per share for Q2 2022.

How does NASB Financial's Q2 2022 income compare to the previous quarter?

In Q1 2022, NASB Financial's net income was $8.8 million or $1.19 per share, showing an increase in Q2.

What was NASB Financial's net income for the nine months ended June 30, 2022?

For the nine months ending June 30, 2022, NASB Financial reported a net income of $27.6 million.

How does NASB Financial's income for nine months ending June 30, 2022 compare to the previous year?

The net income decreased significantly from $63.8 million for the nine months ended June 30, 2021.