NASB Financial, Inc. Announces Financial Results

Rhea-AI Summary

NASB Financial (OTCQX: NASB) reported strong financial results for Q4 2024, with net income of $8.0 million ($1.10 per share), up from $6.1 million ($0.84 per share) in Q3 2024 and $7.6 million ($1.03 per share) in Q4 2023. The company's net interest income reached $19.6 million, while total assets grew to $2.92 billion.

Key financial metrics show customer and brokered deposits increased to $1.80 billion, and the company maintained a book value per share of $57.20. Return on assets stood at 1.10%, while return on equity was 7.69%. The company continued its quarterly dividend payment of $0.25 per share.

Positive

• Net income increased 29.5% QoQ to $8.0 million
• Earnings per share grew to $1.10 from $0.84 QoQ
• Total assets increased by 2.1% QoQ to $2.92 billion
• Customer and brokered deposits grew by 4.1% QoQ to $1.80 billion
• Book value per share improved to $57.20 from $53.93 YoY

Negative

• Net interest income declined slightly QoQ from $19.9M to $19.6M
• Return on equity decreased YoY from 7.78% to 7.69%
• Weighted average shares outstanding decreased, indicating share buybacks or cancellations

KANSAS CITY, Mo., Feb. 5, 2025 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended December 31, 2024, of $8.0 million or $1.10 per share.  This compares to net income of $6.1 million or $0.84 per share for the quarter ended September 30, 2024, and compares to net income of $7.6 million or $1.03 per share for the quarter ended December 31, 2023. 

NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. ("NASB").  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.  NASB offers competitive residential and commercial mortgages nationwide with the safety and security of a Federal institution.  For more information, visit nasb.com.

(Financial Highlights Schedule Attached)

NASB Financial, Inc.
Financial Highlights
(Dollars in thousands, except per share data)
									Three Months Ended
									12/31/24		9/30/24				12/31/23
EARNINGS DATA:
		Net interest income						$	19,564		19,904				18,877
		Provision for credit losses							66		(71)				(1,468)
		Non-interest income							3,124		873				1,125
		Non-interest expense							12,073		13,071				12,016
		Income tax expense							2,595		1,633				1,817
		Net income						$	7,954		6,144				7,637
FINANCIAL CONDITION DATA:
	Total assets							$	2,919,263		2,860,399				2,752,294
	Total loans held for investment and       mortgage-backed securities, net								2,186,076		2,170,905				2,163,559
	Customer and brokered deposit      accounts								1,800,419		1,729,642				1,699,188
	Stockholders' equity								413,891		413,204				398,966
FINANCIAL RATIOS AND PER SHARE DATA:
	Book value per share							$	57.20		57.18				53.93
	Earnings per share								1.10		0.84				1.03
	Cash dividends paid per share								0.25		0.25				0.25
	Return on assets (annualized net income       divided by total average assets)								1.10 %		0.87 %				1.10 %
	Return on equity (annualized net income       divided by average stockholders' equity)								7.69 %		5.99 %				7.78 %
	Weighted average shares outstanding								7,232,473		7,327,387				7,392,679

 

 

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SOURCE NASB Financial, Inc.

FAQ

What was NASB Financial's net income for Q4 2024?

NASB Financial reported a net income of $8.0 million ($1.10 per share) for the quarter ended December 31, 2024.

How did NASB's Q4 2024 earnings compare to the previous quarter?

NASB's Q4 2024 earnings increased by 29.5% to $8.0 million ($1.10 per share) compared to $6.1 million ($0.84 per share) in Q3 2024.

What was NASB Financial's total asset value as of December 31, 2024?

NASB Financial's total assets were $2.92 billion as of December 31, 2024.

What is NASB Financial's current quarterly dividend payment?

NASB Financial maintains a quarterly dividend payment of $0.25 per share.

How much did NASB's customer and brokered deposits grow in Q4 2024?

Customer and brokered deposits increased to $1.80 billion, representing a 4.1% growth from the previous quarter.