NASB Financial, Inc. Announces Financial Results

GRANDVIEW, Mo., May 06, 2008 (BUSINESS WIRE) -- NASB | news | PowerRating | PR Charts -- NASB Financial, Inc. (NASDAQ: NASB | news | PowerRating | PR Charts ) announced today net income for the quarter ended March 31, 2008, of $2,806,000 or $0.36 per share. This compares to net income of $1,869,000 or $0.24 per share for the quarter ended December 31, 2007, and compares to net income of $3,769,000 or $0.46 per share for the quarter ended March 31, 2007.

Net income for the six months ended March 31, 2008, was $4,675,000 or $0.59 per share, compared to net income of $8,343,000 or $1.01 per share for the six months ended March 31, 2007.

NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. ("North American" or the "Bank"). North American operates six offices in greater Kansas City, Missouri and others in Harrisonville, St. Joseph, and Excelsior Springs, Missouri. The Bank also has loan origination offices in Lee's Summit and Springfield, Missouri as well as Overland Park, Kansas.

NASB Financial, Inc. Financial Highlights (Dollars in thousands, except per share data) Three Months Ended Six Months Ended ----------------------------- ------------------- 3/31/08 12/31/07 3/31/07 3/31/08 3/31/07 ----------------------------- ------------------- EARNINGS DATA: Net interest income $ 9,052 10,089 10,301 19,141 21,000 Provision for loan losses 700 700 633 1,400 759 Non-interest income 5,390 2,288 5,411 7,678 10,906 Non-interest expense 9,145 8,638 8,949 17,783 17,578 Income tax expense 1,791 1,170 2,361 2,961 5,226 ----------------------------- ------------------- Net income $ 2,806 1,869 3,769 4,675 8,343 ============================= =================== FINANCIAL CONDITION DATA: Total assets $1,547,377 1,528,729 1,545,897 1,547,377 1,545,897 Total loans and mortgage-backed and related securities 1,443,355 1,431,476 1,425,549 1,443,355 1,425,549 Customer and brokered deposit accounts 815,882 801,740 819,119 815,882 819,119 Stockholders' equity 151,147 149,726 150,924 151,147 150,924 FINANCIAL RATIOS AND PER SHARE DATA: Book value per share $ 19.21 19.03 18.78 19.21 18.78 Earnings per share 0.36 0.24 0.46 0.59 1.01 Cash dividends paid per share 0.225 0.225 0.225 0.45 0.45 Return on assets (annualized net income Divided by total average assets) 0.73% 0.49% 0.97% 0.61% 1.09% Return on equity (annualized net income Divided by average stockholders' equity) 7.46% 5.00% 9.71% 6.22% 10.85% Weighted average shares outstanding 7,867,614 7,867,614 8,202,120 7,867,614 8,261,021

SOURCE: NASB Financial, Inc.

NASB Financial, Inc. Rhonda Nyhus, 816-765-2200

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