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NASB Financial, Inc. Announces Financial Results

NASB Financial, Inc. (NASDAQ: NASB) announced today net income for the quarter ended June 30, 2012, of $5,055,000 or $0.64 per share. This compares to net income of $375,000 or $0.05 per share for the quarter ended March 31, 2012, and compares to net income of $4,389,000 or $0.56 per share for the quarter ended June 30, 2011.

Net income for the nine months ended June 30, 2012, was $10,369,000 or $1.32 per share, compared to a net loss of $23,153,000 or $(2.94) per share for the nine months ended June 30, 2011.

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)


NASB Financial, Inc.

Financial Highlights
(Dollars in thousands, except per share data)
Three Months Ended Nine Months Ended
6/30/12     3/31/12     6/30/11 6/30/12     6/30/11
Net interest income $ 11,716 12,097 13,176 37,932 38,911
Provision for loan losses 3,000 5,000 68 10,500 49,394
Non-interest income 15,561 8,289 6,385 34,399 13,718
Non-interest expense 16,063 14,771 12,356 44,971 40,882
Income tax expense (benefit) 3,159     240     2,748 6,491     (14,494)
Net income (loss) $ 5,055     375     4,389 10,369     (23,153)
Total assets $ 1,220,569 1,192,208 1,256,998 1,220,569 1,256,998

Total loans and mortgage-backed and  related securities

925,279 996,805 1,074,187 925,279 1,074,187

Customer and brokered deposit  accounts

865,416 870,585 881,987 865,416 881,987
Stockholders' equity 161,209 156,528 144,575 161,209 144,575
Book value per share $ 20.49 19.90 18.38 20.49 18.38
Earnings (loss) per share 0.64 0.05 0.56 1.32 (2.94)
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)

1.68% 0.13% 1.39% 1.12% (2.29)%

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

12.73% 0.96% 12.33% 8.87% (19.77)%
Weighted average shares outstanding 7,867,614 7,867,614 7,867,614 7,867,614 7,867,614

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