NASB Financial, Inc. Announces Financial Results

GRANDVIEW, Mo.--(BUSINESS WIRE)--NASB Financial, Inc. (NASDAQ: NASB) announced today net income for the quarter ended June 30, 2008, of $3,610,000 or $0.46 per share. This compares to net income of $2,806,000 or $0.36 per share for the quarter ended March 31, 2008, and compares to net income of $3,786,000 or $0.47 per share for the quarter ended June 30, 2007.

Net income for the nine months ended June 30, 2008, was $8,285,000 or $1.05 per share, compared to net income of $12,129,000 or $1.48 per share for the nine months ended June 30, 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						Nine Months Ended
				6/30/08		3/31/08		6/30/07		6/30/08		6/30/07
EARNINGS DATA:
	Net interest income		$	9,858		9,052		10,436		28,999		31,436
	Provision for loan losses			1,600		700		175		3,000		934
	Non-interest income			6,772		5,390		5,858		14,450		16,764
	Non-interest expense			9,908		9,145		9,961		27,691		27,539
	Income tax expense			1,512		1,791		2,372		4,473		7,598
	Net income		$	3,610		2,806		3,786		8,285		12,129
FINANCIAL CONDITION DATA:
	Total assets		$	1,571,172		1,547,377		1,535,846		1,571,172		1,535,846
	Total loans and mortgage-backed and related securities			1,450,957		1,443,355		1,420,192		1,450,957		1,420,192
	Customer and brokered deposit accounts			831,534		815,882		849,372		831,534		849,372
	Stockholders' equity			152,771		151,147		149,191		152,771		149,191
FINANCIAL RATIOS AND PER SHARE DATA:
	Book value per share		$	19.42		19.21		18.81		19.42		18.81
	Earnings per share			0.46		0.36		0.47		1.05		1.48
	Cash dividends paid per share			0.225		0.225		0.225		0.675		0.675
	Return on assets (annualized net income divided by total average assets)			0.93%		0.73%		0.98%		0.72%		1.06%
	Return on equity (annualized net income divided by average stockholders' equity)			9.50%		7.46%		10.09%		7.31%		10.58%
	Weighted average shares outstanding			7,867,614		7,867,614		7,986,967		7,867,614		8,169,670