NASB Financial, Inc. (NASDAQ: NASB) announced today net income for the quarter ended December 31, 2009, of $1,329,000 or $0.17 per share. This compares to net income of $6,088,000 or $0.77 per share for the quarter ended September 30, 2009, and compares to net income of $3,648,000 or $0.46 per share for the quarter ended December 31, 2008.

The Company recorded an impairment charge of $2 million ($1.2 million, net of tax, or $0.16 per share) on its investment in LLCs during the quarter ended December 31, 2009.

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 Lee’s Summit and Springfield, Missouri as well as Overland Park, Kansas.

NASB Financial, Inc.
Financial Highlights
(Dollars in thousands, except per share data)
       
Three Months Ended
12/31/09   9/30/09   12/31/08
EARNINGS DATA:    
Net interest income $ 13,805 13,629 10,582
Provision for loan losses 9,000 6,000 250
Non-interest income 10,200 13,323 5,199
Non-interest expense 13,657 11,541 9,599
Income tax expense 19   3,323   2,284
Net income $ 1,329   6,088   3,648
 
FINANCIAL CONDITION DATA:
Total assets $ 1,527,170 1,559,562 1,526,454

Total loans and mortgage-backed and

 related securities

1,381,240

1,378,036

1,415,784

Customer and brokered deposit

 accounts

872,357

904,625

835,232
Stockholders' equity 164,852 166,388 154,397
 
FINANCIAL RATIOS AND PER SHARE DATA:
Book value per share $ 20.95 21.15 19.62
Earnings per share 0.17 0.77 0.46
Cash dividends paid per share 0.225 0.225 0.225
 

Return on assets (annualized net income

 divided by total average assets)

0.34%

1.53%

0.96%

Return on equity (annualized net income

 divided by average stockholders' equity)

3.21%

14.83%

9.51%
 
Weighted average shares outstanding 7,867,614 7,867,614 7,867,614