Attached files
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| 8-K - FORM 8-K - NASB FINANCIAL INC | d269640d8k.htm |
Exhibit 99.1
NASB Financial, Inc.
NEWS RELEASE
| Contact: | Rhonda Nyhus Vice President and Treasurer NASB Financial, Inc. 12498 South 71 Highway Grandview, MO 64030 Phone (816) 765-2200 |
FOR IMMEDIATE RELEASE:
NASB Financial, Inc. Announces Financial Results
Grandview, Missouri (December 13, 2011)—NASB Financial, Inc. (NASDAQ: NASB) announced today net income for the quarter ended September 30, 2011, of $6,885,000 or $0.87 per share. This compares to net income of $4,389,000 or $0.56 per share for the quarter ended June 30, 2011, and compares to net income of $2,235,000 or $0.28 per share for the quarter ended September 30, 2010.
The net loss for the twelve months ended September 30, 2011, was $16,268,000 or $(2.07) per share, compared to net income of $6,323,000 or $0.80 per share for the twelve months ended September 30, 2010.
NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. (“North American” or the “Bank”). North American operates six offices in greater Kansas City, Missouri and others in Harrisonville, St. Joseph, and Excelsior Springs, Missouri. The Bank also has loan origination offices in Kansas City, Lee’s Summit and Springfield, Missouri.
(Financial Highlights Schedule Attached)
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NASB Financial, Inc.
Financial Highlights
(Dollars in thousands, except per share data)
| Three Months Ended | Twelve Months Ended | |||||||||||||||||||
| 9/30/11 | 6/30/11 | 9/30/10 | 9/30/11 | 9/30/10 | ||||||||||||||||
| EARNINGS DATA: |
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| Net interest income |
$ | 13,255 | 13,176 | 12,994 | 52,166 | 53,848 | ||||||||||||||
| Provision for loan losses |
— | 68 | 5,000 | 49,394 | 30,500 | |||||||||||||||
| Non-interest income |
10,756 | 6,385 | 12,544 | 24,474 | 43,580 | |||||||||||||||
| Non-interest expense |
12,816 | 12,356 | 16,781 | 53,698 | 57,667 | |||||||||||||||
| Income tax expense |
4,310 | 2,748 | 1,522 | (10,184 | ) | 2,938 | ||||||||||||||
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| Net income |
$ | 6,885 | 4,389 | 2,235 | (16,268 | ) | 6,323 | |||||||||||||
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| FINANCIAL CONDITION DATA: |
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| Total assets |
$ | 1,253,584 | 1,256,998 | 1,434,196 | 1,253,584 | 1,434,196 | ||||||||||||||
| Total loans and mortgage-backed and related securities, net |
1,072,429 | 1,074,187 | 1,268,073 | 1,072,429 | 1,268,073 | |||||||||||||||
| Customer and brokered deposit accounts |
809,675 | 881,987 | 933,453 | 809,675 | 933,453 | |||||||||||||||
| Stockholders’ equity |
150,378 | 144,575 | 167,762 | 150,378 | 167,762 | |||||||||||||||
| FINANCIAL RATIOS AND PER SHARE DATA: |
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| Book value per share |
$ | 19.11 | 18.38 | 21.32 | 19.11 | 21.32 | ||||||||||||||
| Earnings per share |
0.87 | 0.56 | 0.28 | (2.07 | ) | 0.80 | ||||||||||||||
| Cash dividends paid per share |
0.00 | 0.00 | 0.225 | 0.00 | 0.45 | |||||||||||||||
| Return on assets (annualized net income divided by total average assets) |
2.19 | % | 1.39 | % | 0.63 | % | (1.21 | )% | 0.42 | % | ||||||||||
| Return on equity (annualized net income divided by average stockholders’ equity) |
18.67 | % | 12.33 | % | 5.37 | % | (10.23 | )% | 3.78 | % | ||||||||||
| Weighted average shares outstanding |
7,867,614 | 7,867,614 | 7,867,614 | 7,867,614 | 7,867,614 | |||||||||||||||