GRANDVIEW, Mo., Dec. 13, 2018 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended September 30, 2018, of $8,477,000 or $1.15 per share. This compares to net income of $7,531,000 or $1.02 per share for the quarter ended June 30, 2018, and $7,221,000 or $0.98 per share for the quarter ended September 30, 2017.
Net income for the year ended September 30, 2018, was $29,131,000 or $3.94 per share. This compares to net income of $29,397,000 or $3.98 per share for the year ended September 30, 2017. During the year ended September 30, 2018, the Company reduced its estimated federal income tax rate from 35.0% to 24.5%, as a result of the Tax Cuts and Jobs Act, which was enacted on December 22, 2017.
NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. ("NASB"), a community bank headquartered in Grandview, Missouri. 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.
NASB Financial, Inc. |
Financial Highlights |
(Dollars in thousands, except per share data) |
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| Three Months Ended |
| Twelve Months Ended |
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| 9/30/18 | 6/30/18 | 9/30/17 |
| 9/30/18 | 9/30/17 |
EARNINGS DATA: |
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| Net interest income |
| $ | 20,916 | 19,620 | 19,126 |
| 77,928 | 74,114 |
| Provision for loan losses |
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| 275 | 500 | -- |
| 2,625 | 950 |
| Non-interest income |
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| 8,855 | 8,396 | 11,883 |
| 37,299 | 50,796 |
| Non-interest expense |
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| 18,001 | 16,983 | 19,268 |
| 69,991 | 76,420 |
| Income tax expense |
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| 3,018 | 3,002 | 4,520 |
| 13,480 | 18,143 |
| Net income |
| $ | 8,477 | 7,531 | 7,221 |
| 29,131 | 29,397 |
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FINANCIAL CONDITION DATA: |
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| Total assets |
| $ | 2,060,361 | 1,996,012 | 2,062,302 |
| 2,060,361 | 2,062,302 |
| Total loans held for sale |
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| 123,245 | 123,748 | 171,992 |
| 123,245 | 171,992 |
| Total loans held for investment and
mortgage-backed securities, net |
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| 1,717,358 | 1,650,993 | 1,544,688 |
| 1,717,358 | 1,544,688 |
| Customer and brokered deposit accounts |
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| 1,536,226 | 1,481,446 | 1,296,112 |
| 1,536,226 | 1,296,112 |
| Stockholders' equity |
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| 231,681 | 226,752 | 232,969 |
| 231,681 | 232,969 |
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FINANCIAL RATIOS AND PER SHARE DATA: |
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| Book value per share |
| $ | 31.37 | 30.71 | 31.55 |
| 31.37 | 31.55 |
| Earnings per share |
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| 1.15 | 1.02 | 0.98 |
| 3.94 | 3.98 |
| Cash dividends paid per share |
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| 0.50 | 0.50 | 0.32 |
| 3.82 | 1.22 |
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| Return on assets (annualized net income divided by total average assets) | 1.67% | 1.54% | 1.40% |
| 1.41% | 1.47% |
| Return on equity (annualized net income divided by average stockholders' equity) | 14.79% | 13.37% | 12.56% |
| 12.54% | 13.14% |
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| Weighted average shares outstanding |
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| 7,384,851 | 7,384,851 | 7,384,262 |
| 7,384,604 | 7,394,714 |
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SOURCE NASB Financial, Inc.