Nasb Finl Inc Stock Price, News & Analysis

NASB Financial, Inc. reported a net income of $4.7 million ($0.63 per share) for the quarter ending December 31, 2022. This reflects a slight increase from $4.5 million ($0.61 per share) in the previous quarter but a significant decline from $8.6 million ($1.16 per share) year-over-year. The net interest income decreased to $22.4 million from $23.9 million in the last quarter. Non-interest income also fell to $4.3 million from $6.4 million compared to the previous quarter. The total assets were reported at $2.52 billion, down from $2.64 billion at the previous quarter.

On January 6, 2023, NASB Financial (OTCQX: NASB) announced its decision to exit the consumer direct lending business due to challenging market conditions, including rising interest rates and declining housing inventory. The move will incur pre-tax charges of approximately $3.8 million to $4.6 million in Q2 2023, primarily from personnel costs and contractual terminations. Despite this exit, the company will maintain its focus on residential and commercial lending, especially in the Kansas City area. Future cash payments related to this transition are estimated between $3.4 million and $4.2 million.

NASB Financial, Inc. reported a net income of $4.5 million or $0.61 per share for Q4 ended September 30, 2022, significantly down from $10.1 million or $1.37 per share in Q3 2022 and $9.9 million or $1.34 per share in Q4 2021. For the fiscal year, net income fell to $32.1 million or $4.33 per share compared to $73.7 million or $9.96 per share in 2021, primarily due to reduced mortgage banking profits.

On September 6, 2022, NASB Financial, Inc. (OTCQX: NASB) declared a quarterly cash dividend of $0.85 per share. This dividend will be paid on September 30, 2022, to stockholders of record on September 16, 2022. NASB Financial, a unitary thrift holding company for North American Savings Bank, has been operating since 1927, offering personal banking and lending services in the Kansas City area, and providing competitive residential and commercial mortgages nationwide.

NASB Financial, Inc. reported a net income of $10.1 million or $1.37 per share for the quarter ended June 30, 2022, representing an increase from $8.8 million or $1.19 per share in the previous quarter but a decrease from $11.2 million or $1.51 per share year-over-year. For the nine months ending June 30, 2022, the net income stood at $27.6 million or $3.72 per share, significantly lower than $63.8 million or $8.62 per share for the same period in 2021.

NASB Financial reported net income of $8.8 million or $1.19 per share for the quarter ending March 31, 2022, a slight increase from $8.6 million or $1.16 per share in the previous quarter. However, this represents a significant decrease compared to $26.0 million or $3.51 per share for the same quarter in 2021. For the first six months of 2022, net income totaled $17.4 million or $2.35 per share, down from $52.6 million or $7.11 per share in 2021. The company continues to operate as a prominent thrift holding company in the Kansas City area.

On March 28, 2022, NASB Financial, Inc. (OTCQX: NASB) announced the resignation of CEO Paul Thomas, effective March 25, 2022. He will assist during the transition until April 30, 2022. Thomas B. Wagers, Sr., previously Executive VP and Chief Risk Officer, has been appointed as the new CEO and President. Board Chairman David Hancock praised Thomas's contributions since 2013 and expressed confidence in Wagers's 30+ years of banking experience to support NASB's ongoing growth, especially in mortgage banking.

On March 2, 2022, NASB Financial, Inc. declared a quarterly cash dividend of $0.85 per share, scheduled for payment on March 25, 2022, to stockholders of record by March 14, 2022. Operating since 1927, NASB is a leading financial institution serving the Kansas City area, offering a range of personal banking and lending services. The company is recognized for providing competitive residential and commercial mortgages, ensuring safety and financial security for its customers.

NASB Financial, Inc. reported a net income of $8.6 million or $1.16 per share for Q4 2021, a decline from $9.9 million or $1.34 per share in Q3 2021 and $26.7 million or $3.61 per share in Q4 2020. The total assets decreased to $2.19 billion from $2.36 billion in the previous quarter. The net interest income slightly fell to $22.35 million, while non-interest income dropped to $22.34 million, compared to previous quarters. The earnings outlook shows a decrease, indicating potential challenges ahead.