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NASB Financial Inc. Reports Operating Results (10-K)

December 14, 2009 | About:
10qk

10qk

18 followers
NASB Financial Inc. (NASB) filed Annual Report for the period ended 2009-09-30.

NASB Financial, Inc. is a unitary thrift holding company of North American Savings Bank, F.S.B. Nasb Financial Inc. has a market cap of $187.65 million; its shares were traded at around $23.85 with a P/E ratio of 10.06 and P/S ratio of 4.63. The dividend yield of Nasb Financial Inc. stocks is 3.77%. Nasb Financial Inc. had an annual average earning growth of 6% over the past 5 years.

Highlight of Business Operations:

Interest-costing liabilities:

Customer checking and savings

deposit accounts $ 169,124 0.88%

Customer and brokered

certificates of deposit 698,747 3.37%

FHLB advances 491,040 3.37%

Subordinated debentures 25,000 3.42%

-

Total costing liabilities 1,383,911 3.07%

Non-costing liabilities 13,617 -

Stockholders' equity 158,588

-

Total $1,556,116

=

Net earning balance $ 107,142

=

Earning yield less costing rate 2.95%

=



Interest-costing liabilities:

Customer checking and savings

deposit accounts $ 166,076 1.16%

Customer and brokered

certificates of deposit 639,113 4.51%

FHLB advances 536,344 4.55%

Subordinated debentures 25,000 5.43%

-

Total costing liabilities 1,366,533 4.13%

Non-costing liabilities 15,291 -

Stockholders' equity 151,323

-

Total $1,533,147

=

Net earning balance $ 105,557

=

Earning yield less costing rate 2.36%

=



Interest-costing liabilities:

Customer checking and savings

deposit accounts $ 169,264 1.20%

Customer and brokered

certificates of deposit 650,273 4.84%

FHLB advances 512,341 5.23%

Subordinated debentures 20,269 7.01%

Repurchase agreements 7,546 5.23%

-

Total costing liabilities 1,359,693 4.57%

Non-costing liabilities 12,668 -

Stockholders' equity 153,431

-

Total $1,525,792

=

Net earning balance $ 102,300

=

Earning yield less costing rate 2.53%

=



Year ended September 30,

-

2009 2008 2007 2006 2005

-

Return on average assets 1.22% 0.61% 1.01% 1.35% 1.77%

Return on average equity 11.74% 6.16% 10.01% 13.60% 17.94%

Equity to asset ratio 10.67% 10.05% 9.92% 10.27% 9.57%

Dividend payout ratio 37.84% 76.16% 47.90% 45.59% 54.82%





As of September 30,

-

2009 2008 2007 2006 2005

-

Asset Classification

Substandard $ 69,158 34,320 11,726 12,361 13,346

Doubtful - - - - -

Loss 6,415 1,442 357 434 595

-

Total Classified 75,573 35,762 12,083 12,795 13,941

Allowance for loan/REO

losses (20,699) (14,476) (8,301) (8,266) (7,731)

-

Net classified assets $ 54,874 21,286 3,782 4,529 6,210

=

Net classified to total

classified assets 73% 60% 31% 35% 45%

=



September 30,

-

2009 2008 2007 2006 2005

- - - - -

Amount Pct. Amount Pct. Amount Pct. Amount Pct. Amount Pct.

- - - - -



Type of Account and Rate:

Demand deposit accounts $ 80,201 9% 76,621 10 93,451 11 86,517 10 82,596 10

Savings accounts 81,572 9 71,193 9 70,077 8 77,469 9 97,435 12

Money market demand

accounts 14,991 2 13,352 2 10,323 1 11,717 2 12,271 2

Certificates of deposit 520,017 57 530,449 69 548,251 64 547,096 64 515,590 64

Brokered accounts 207,844 23 77,764 10 133,434 16 128,243 15 94,802 12

- - - - -

$904,625 100 769,379 100 855,536 100 851,042 100 802,694 100

= = = = =

Weighted average

interest rate 2.23% 3.38% 4.30% 3.98% 2.96%



Read the The complete Report

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