NASB Financial, Inc. Announces Retirement of Chief Executive Officer

Rhea-AI Summary

NASB Financial, Inc. (OTCQX: NASB) has announced the upcoming retirement of its Chief Executive Officer, Thomas B. Wagers, following the annual stockholders meeting in January 2025. Enrique Venegas has been appointed as the new CEO and President of both NASB Financial, Inc. and North American Savings Bank, F.S.B., effective October 1, 2024. Mr. Venegas, previously NASB's Executive Vice-President and Chief Lending Officer, brings over twenty years of banking experience to the role.

Mr. Wagers will continue to serve on the Board of Directors for both entities after his retirement. NASB Chairman David Hancock praised Wagers' leadership through challenging times and his role in positioning the company for future success. The Board expressed confidence in Venegas' ability to lead the company forward and achieve its mission.

Positive

• Smooth leadership transition with experienced internal candidate
• Retiring CEO to remain on Board of Directors, ensuring continuity
• New CEO brings over 20 years of banking experience

Negative

• None.

KANSAS CITY, Mo., Oct. 4, 2024 /PRNewswire/ -- NASB Financial, Inc. (OTCQX: NASB) today announced that its Chief Executive Officer, Thomas B. Wagers, will be retiring from his position of Chief Executive Officer following its annual stockholders meeting in January 2025. Mr. Wagers will remain as a member of the Board of Directors (the "Board") of both NASB Financial, Inc. and its banking subsidiary North American Savings Bank, F.S.B. (collectively, the "Company" or "NASB") following his retirement.

The Company has appointed Enrique Venegas to succeed Mr. Wagers as Chief Executive Officer following Mr. Wagers' retirement, and Mr. Venegas has been named President of both NASB Financial, Inc. and North American Savings Bank, F.S.B. effective October 1, 2024.  Mr. Venegas has also been appointed to the Board of both NASB Financial, Inc. and North American Savings Bank, F.S.B. effective October 1, 2024.  Prior to his appointment, Mr. Venegas was NASB's Executive Vice-President and Chief Lending Officer.  Mr. Venegas was hired as NASB's Chief Credit Officer in 2013 and has over twenty years of banking experience.

"Tom steered NASB through some very difficult and challenging times, including guiding us through the exit from the Consumer Direct business after we decided this was not the right long-term course for our Company," said NASB Chairman David Hancock.  "His steadiness, banking acumen and teambuilding focus has positioned us for a bright future.  I, as well as all of our managers, have come to rely on him for direction, advice, and encouragement.  He is not leaving NASB but has agreed to continue serving on our Board of Directors.   His continued counsel will be important as we go forward with the plan he has been instrumental in creating."

"The Board and I are grateful to have someone of Enrique's experience and talent waiting in the wings to assume the CEO role.  We believe his leadership, energy and ideas are going to be instrumental in helping the Company achieve its mission."

About NASB
NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B.  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. 

Forward-Looking Statements
This press release includes "forward-looking statements," which are statements, other than statements of historical facts, regarding our prospects, plans, financial position and business strategy.  Although we believe that the expectations reflected in these forward-looking statements are reasonable, we can give no assurance that these expectations will prove to have been correct.  All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement.  The forward-looking statements included herein are made only as of the date of this press release, and we do not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances after the date hereof, except as required by law.

View original content:https://www.prnewswire.com/news-releases/nasb-financial-inc-announces-retirement-of-chief-executive-officer-302267761.html

SOURCE NASB Financial, Inc.

FAQ

When will Thomas B. Wagers retire as CEO of NASB Financial, Inc. (NASB)?

Thomas B. Wagers will retire as CEO of NASB Financial, Inc. following the annual stockholders meeting in January 2025.

Who will succeed Thomas B. Wagers as CEO of NASB Financial, Inc. (NASB)?

Enrique Venegas has been appointed to succeed Thomas B. Wagers as CEO of NASB Financial, Inc.

What is Enrique Venegas' previous role at NASB Financial, Inc. (NASB)?

Prior to his appointment as CEO and President, Enrique Venegas was NASB's Executive Vice-President and Chief Lending Officer.

When does Enrique Venegas' appointment as President of NASB Financial, Inc. (NASB) take effect?

Enrique Venegas' appointment as President of NASB Financial, Inc. and North American Savings Bank, F.S.B. is effective October 1, 2024.