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8-K - FORM 8-K - NASB FINANCIAL INCd453213d8k.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, 2012)—NASB Financial, Inc. (NASDAQ: NASB) announced today net income for the quarter ended September 30, 2012, of $7,741,000 or $0.98 per share. This compares to net income of $5,055,000 or $0.64 per share for the quarter ended June 30, 2012, and compares to net income of $6,885,000 or $0.87 per share for the quarter ended September 30, 2011.

Net income for the twelve months ended September 30, 2012, was $18,110,000 or $2.30 per share, compared to a net loss of $16,268,000 or $(2.07) per share for the twelve months ended September 30, 2011.

NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. (“North American” or the “Bank”). As of September 30, 2012, the Bank’s tier 1 leverage ratio and total risk-based capital ratio was 14.06% and 18.22%, respectively. These ratios exceed the tier 1 leverage and total risk-based individual minimum capital ratios of 10% and 13%, respectively, that are prescribed in a consent order that the Bank signed with the Office of the Comptroller of the Currency on May 22, 2012.


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)

# # #


NASB Financial, Inc.

Financial Highlights

(Dollars in thousands, except per share data)

 

     Three Months Ended     Twelve Months Ended  
     9/30/12     6/30/12     9/30/11     9/30/12     9/30/11  

EARNINGS DATA:

          

Net interest income

   $ 11,547        11,716        13,255        49,479        52,166   

Provision for loan losses

     —          3,000        —          10,500        49,394   

Non-interest income

     18,896        15,561        10,756        53,295        24,474   

Non-interest expense

     17,856        16,063        12,816        62,827        53,698   

Income tax expense

     4,846        3,159        4,310        11,337        (10,184
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 7,741        5,055        6,885        18,110        (16,268
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

FINANCIAL CONDITION DATA:

          

Total assets

   $ 1,240,826        1,220,569        1,253,584        1,240,826        1,253,584   

Total loans and mortgage-backed and related securities, net

     925,081        925,279        1,072,429        925,081        1,072,429   

Customer and brokered deposit accounts

     892,313        865,416        809,675        892,313        809,675   

Stockholders’ equity

     171,503        161,209        150,378        171,503        150,378   

FINANCIAL RATIOS AND PER SHARE DATA:

          

Book value per share

   $ 21.80        20.49        19.11        21.80        19.11   

Earnings per share

     0.98        0.64        0.87        2.30        (2.07

Cash dividends paid per share

     0.00        0.00        0.00        0.00        0.00   

Return on assets (annualized net income divided by total average assets)

     2.52     1.68     2.19     1.45     (1.21 )% 

Return on equity (annualized net income divided by average stockholders’ equity)

     18.61     12.73     18.67     11.25     (10.23 )% 

Weighted average shares outstanding

     7,867,614        7,867,614        7,867,614        7,867,614        7,867,614