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NASB Financial reports lower earnings

Earnings fell 40 percent at NASB Financial Inc. during the three months that ended Sept. 30, the Grandview-based banking company said.

NASB said it earned $3.9 million in the quarter, or 50 cents a share, compared with $6.5 million, or 83 cents a share, a year ago. The company had $1.17 billion in assets at the end of September, including $921 million in mortgages and related securities.

In September, the company dropped its registration with the Securities and Exchange Commission and removed is stock from the Nasdaq stock market listing. The act will save the expense of meeting public company filing requirements and is allowed because it has fewer than 300 shareholders.

Shares continue to trade in over-the-counter markets, but the company will no longer file financial and other disclosure with the SEC.

To reach Mark Davis, call 816-234-4372 or send email to mdavis@kcstar.com. Follow him on Facebook and Twitter @mdkcstar.

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