Welcome to our dedicated page for Nasb Finl news (Ticker: NASB), a resource for investors and traders seeking the latest updates and insights on Nasb Finl stock.
NASB Financial, Inc. (OTCQX: NASB) is a unitary thrift holding company for North American Savings Bank, F.S.B., a federally regulated savings institution. Company news releases describe NASB as serving the financial needs of customers since 1927 through personal banking and lending products in the Kansas City metro area, and through residential and commercial mortgage offerings on a nationwide basis.
This news page aggregates NASB Financial, Inc. updates that focus on its financial performance and capital actions. Regular announcements provide details on net income for specific quarters and fiscal periods, along with information on net interest income, non-interest income, non-interest expense, and income tax expense. These releases also highlight balance sheet items such as total assets, total loans held for investment and mortgage-backed securities, customer and brokered deposit accounts, and stockholders’ equity.
In addition to earnings-related updates, NASB Financial, Inc. frequently announces decisions by its Board of Directors regarding cash dividends on common stock. News items describe regular quarterly cash dividends and, at times, special cash dividends, including the dividend amount per share, the payment date, and the record date for stockholders.
Investors and observers can use this news feed to follow NASB’s reported profitability, changes in key financial ratios such as return on assets and return on equity, and the company’s approach to shareholder distributions through cash dividends. By reviewing these recurring announcements, readers gain insight into how NASB Financial, Inc. presents its operating results and capital management over time.
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On March 2, 2023, NASB Financial (OTCQX: NASB) announced a quarterly cash dividend of $0.25 per share. This dividend will be paid on March 31, 2023, to stockholders of record on March 17, 2023. NASB Financial serves as a unitary thrift holding company for North American Savings Bank, providing personal banking and lending products in the Kansas City metro area since 1927. The company offers competitive residential and commercial mortgages nationwide, emphasizing the safety of a Federal financial institution.
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.