NASB Financial Deepens Mortgage Footprint as Deposits and Assets Rise

NASB Deepens Mortgage Footprint as Deposits Climb

Mortgage-backed securities and deposit inflows expand balance sheet

NASB Financial is expanding its balance sheet as its portfolio of loans and mortgage-backed securities and customer deposits grow. Total assets rise to $2.967 billion at Dec. 31, 2025, up $33.6 million (1.1%) from the prior quarter, driven by a loan and MBS book of $2.209 billion. Customer and brokered deposit accounts increase $51.1 million (2.8%) to $1.874 billion, supporting the company’s lending and secondary market mortgage holdings.

The increase in loans and deposits reflects NASB’s dual focus as a community thrift and national mortgage originator. The Kansas City-based institution continues to service local personal banking needs while originating competitive residential and commercial mortgages across the United States. Management is using deposit growth to fund originations and maintain liquidity for mortgage-backed securities, underscoring a strategic emphasis on scale in the mortgage space.

Balance-sheet improvements are also visible in shareholders’ equity and book value. Stockholders’ equity rises to $436.6 million, an increase of $5.7 million (1.3%) quarter-on-quarter, and book value per share advances to $60.36 from $59.78. NASB posts no provision for credit losses for the quarter, compared with a $66,000 provision in the year-ago quarter, indicating stable credit metrics as the loan portfolio expands.

Earnings snapshot for the quarter

For the three months ended Dec. 31, 2025, NASB reports net income of $8.3 million, or $1.15 per share, up modestly both sequentially and year-over-year. Net interest income totals $20.96 million, down about $202,000 (1.0%) from the prior quarter but up $1.396 million (7.1%) versus the same period a year earlier. Non-interest income is $1.889 million, non-interest expense is $11.844 million, and income tax expense is $2.707 million.

Company profile and outlook signals

NASB Financial operates as the unitary thrift holding company for North American Savings Bank, F.S.B., and continues to emphasize federally chartered safety in its mortgage and personal banking operations. The company highlights its long history in the Kansas City metro area since 1927 and directs stakeholders to nasb.com for additional information.