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NASB Financial Inc.
NASB Financial Inc.
12/13/2012 | Press release
December 13, 2012 NASB Financial Inc. Announces Financial Results
distributed by noodls on 12/13/2012 17:32
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)
EARNINGS DATA:
Three Months Ended Twelve Months Ended
9/30/12 6/30/12 9/30/11 9/30/12 9/30/11
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
