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North American Savings Bank Financial, Inc. (NASB) has been a beacon of financial leadership since its inception in 1927. Headquartered in the Kansas City metropolitan area, NASB Financial, Inc. operates as a unitary thrift holding company for North American Savings Bank, F.S.B. (NASB). With a conservative approach, NASB has built a robust financial foundation, boasting over $1 billion in assets.
NASB offers a comprehensive range of retail banking products and services. Their portfolio includes personal banking, commercial banking, and a wide array of lending solutions. As one of the nation's premier home mortgage lenders, NASB has funded more than $8.0 billion in home loans since 2008, demonstrating their commitment to providing secure and competitive mortgage options nationwide.
The bank operates nine deposit branch locations, three residential loan origination offices, and one residential construction loan origination office, primarily serving the Kansas City area. They are dedicated to meeting the financial needs of their community while maintaining the security and reliability expected of a federal institution.
Recent financial performance highlights include:
- For the quarter ended September 30, 2023, NASB reported a net income of $6.6 million or $0.90 per share.
- For the quarter ended December 31, 2023, net income increased to $7.6 million or $1.03 per share.
- For the quarter ended March 31, 2024, the company reported a net income of $7.7 million or $1.04 per share.
These results reflect NASB's consistent financial growth and strategic adjustments, such as their exit from the consumer direct lending business, which incurred pre-tax charges but ultimately strengthened their focus on core operations.
For those interested in a career with NASB, the bank prides itself on being a great place to work, offering a supportive and dynamic work environment. More information can be found on their careers page.
With a strong emphasis on community involvement and customer-focused services, NASB continues to be a reliable financial partner for individuals and businesses alike. For further details, visit their official website at nasb.com.
On March 2, 2023, NASB Financial (OTCQX: NASB) announced a quarterly cash dividend of $0.25 per share. This dividend will be paid on March 31, 2023, to stockholders of record on March 17, 2023. NASB Financial serves as a unitary thrift holding company for North American Savings Bank, providing personal banking and lending products in the Kansas City metro area since 1927. The company offers competitive residential and commercial mortgages nationwide, emphasizing the safety of a Federal financial institution.
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.
On January 6, 2023, NASB Financial (OTCQX: NASB) announced its decision to exit the consumer direct lending business due to challenging market conditions, including rising interest rates and declining housing inventory. The move will incur pre-tax charges of approximately $3.8 million to $4.6 million in Q2 2023, primarily from personnel costs and contractual terminations. Despite this exit, the company will maintain its focus on residential and commercial lending, especially in the Kansas City area. Future cash payments related to this transition are estimated between $3.4 million and $4.2 million.
NASB Financial, Inc. reported a net income of $4.5 million or $0.61 per share for Q4 ended September 30, 2022, significantly down from $10.1 million or $1.37 per share in Q3 2022 and $9.9 million or $1.34 per share in Q4 2021. For the fiscal year, net income fell to $32.1 million or $4.33 per share compared to $73.7 million or $9.96 per share in 2021, primarily due to reduced mortgage banking profits.
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