NASB Financial, Inc. Announces Retirement of Director and Appointment of Director

Rhea-AI Summary

NASB Financial (OTCQX: NASB) announced the immediate retirement of director Linda Hancock and the appointment of Patrick Hancock to fill her Board seat.

Patrick Hancock will serve the remainder of the term expiring in January 2028. The Board classifies him as a non-independent director due to his family relationship, and his appointment is part of the Hancock family succession planning.

Positive

• Vacancy filled promptly; term continues through January 2028
• Appointee brings real estate and investment experience
• Succession planning provides clear family transition path

Negative

• Appointee is a non-independent director due to family relationship
• Board composition maintains family influence after retirement

AI-generated analysis. How Rhea-AI works. Not financial advice.

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KANSAS CITY, Mo., May 6, 2026 /PRNewswire/ -- NASB Financial, Inc. (the "Company" or "NASB") (OTCQX: NASB) today announced that Linda Hancock has retired from NASB's Board of Directors ("Board"), effective immediately. Ms. Hancock, wife of NASB Chairman David H. Hancock, has served as a non-independent director on the Board since 1995. Her retirement was not the result of any disagreement with management pertaining to the operations, policies or practices of the Company.

The Company is pleased to announce that the Board has appointed Patrick Hancock to the Board to fill the vacancy created by Ms. Hancock's retirement. Patrick Hancock will serve as a director for the remainder of Ms. Hancock's current term on the Board, which expires in January 2028. Patrick Hancock is the son of David H. Hancock and Ms. Hancock, and his appointment to the Board was made in connection with the Hancock family's succession planning process. Because of Patrick Hancock's relationship to David H. Hancock, the Board has determined that he will be a non-independent director of the Company. 

Patrick Hancock, who resides in New York City, is a managing member of Hanland Group, which invests in and operates multifamily rental properties. Previously, he served in the Investments Group at Shorenstein Properties, one of the largest privately held real estate investment firms in the United States, focused on the acquisition, development, and management of office and mixed-use properties across major U.S. markets. Prior to that, he served in the Portfolio Management Group at Hall Capital Partners, a prominent investment firm managing capital on behalf of endowments, foundations, and families. He holds a master's degree from New York University and a bachelor's degree from Tulane University.

NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B., a community bank headquartered in Grandview, Missouri. Since 1927, NASB has been serving the financial needs of customers by providing an array of personal banking, investment 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.

View original content:https://www.prnewswire.com/news-releases/nasb-financial-inc-announces-retirement-of-director-and-appointment-of-director-302764459.html

SOURCE NASB Financial, Inc.

FAQ

Who retired from NASB's Board and when did the retirement take effect (NASB)?

Linda Hancock retired from NASB's Board, effective immediately on May 6, 2026. According to the company, her retirement was not due to any disagreement with management and she had served on the Board since 1995.

Who was appointed to NASB's Board to fill the vacancy and how long is the term (NASB)?

Patrick Hancock was appointed to fill the vacancy and will serve until January 2028. According to the company, his appointment completes the remainder of Linda Hancock's current Board term.

Why is Patrick Hancock designated a non-independent director for NASB (NASB)?

He is designated non-independent because he is the son of the chairman, David H. Hancock. According to the company, the Board determined his family relationship makes him a non-independent director.

What background does Patrick Hancock bring to NASB's Board (NASB)?

Patrick Hancock has experience in multifamily property investment and prior roles at large investment firms. According to the company, he is managing member of Hanland Group and held roles at Shorenstein Properties and Hall Capital Partners.

Does NASB say Linda Hancock's retirement involved any dispute with management (NASB)?

No, the company states her retirement was not the result of any disagreement with management. According to the company, her departure was voluntary and tied to board succession planning.