As a result of the exit, NASB estimates that it will incur total pre-tax charges of approximately $3.8 million to $4.6 million in the second quarter of fiscal 2023. Within this figure, personnel costs comprise about 40%, contractual terminations 40%, and other associated costs around 20% of the total pre-tax charges. The company also expects total future cash payments of around $3.4 million to $4.2 million.

The Kansas City-headquartered company said its commitment to national and local residential lending will continue to be a major part of the bank’s loan production. Additionally, NASB will continue to focus on its Kansas City residential construction and land development lending, as well as its national commercial real estate business.   

Founded in 1927, NASB has been providing personal banking and lending products in the Kansas Metro area and offers government-backed residential and commercial mortgages across the country.

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