NASB Financial, Inc. Announces Redemption of Trust Preferred Securities

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NASB Financial, Inc. announced the redemption of $25 million of trust preferred securities by its subsidiary trust, NASB Preferred Trust I. The redemption will take place on April 30, 2024, at the call price of 100% plus accrued interest. NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, offering various banking and lending products since 1927.

KANSAS CITY, Mo., April 1, 2024 /PRNewswire/ -- NASB Financial, Inc. (OTCQX: NASB) (the "Company") announced today that NASB Preferred Trust I (the" Trust"), a subsidiary trust of the Company, is redeeming $25 million of outstanding trust preferred securities ("TRUPS"), which constitute all outstanding TRUPS issued by the Trust. The securities are being redeemed on April 30, 2024, at the contractual call price of 100% plus any accrued interest payable through the redemption date. All related junior subordinated debentures issued by the Company to the Trust will be repaid as part of the redemption transaction. 

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.

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SOURCE NASB Financial, Inc.

FAQ

What is NASB Financial, Inc. redeeming?

NASB Financial, Inc. is redeeming $25 million of outstanding trust preferred securities.

When will the redemption take place?

The redemption is scheduled for April 30, 2024.

What is the call price for the redemption?

The call price for the redemption is 100% plus any accrued interest payable through the redemption date.

What is NASB Financial, Inc. known for?

NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, providing personal banking and lending products since 1927.