SECURITIES AND EXCHANGE COMMISSION
                         Washington, DC  20549


                               FORM 10-Q


[X] Quarterly Report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934

               For the period ended    March 31, 2001

                                   or

[  ] Transition Report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934

         For the transition period from        to


                  Commission File Number      0-24033


                          NASB Financial, Inc.
           (Exact name of registrant as specified in its charter)

         Missouri                                       43-1805201
(State or other jurisdiction of                       (IRS Employer
incorporation or organization)                       Identification No.)


           12498 South 71 Highway, Grandview, Missouri  64030
      (Address of principal executive offices)         (Zip Code)


                             (816) 765-2200
           (Registrant's telephone number, including area code)


                                    N/A
(Former name, former address and former fiscal year, if changed since
  last report)


Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the Registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.

                                           Yes  X        No


The number of shares of Common Stock of the Registrant outstanding as of
May 10, 2001, was 8,556,995.




<PAGE>

NASB FINANCIAL, INC. AND SUBSIDIARY
Consolidated Balance Sheets
(In thousands)


<TABLE>
<CAPTION>
                                           March 31,     September 30,
                                              2001            2000
                                           (Unaudited)
                                           ----------     -----------
<S>                                        <C>            <C>
ASSETS
Cash and cash equivalents                  $  17,196      $   3,647
Securities available for sale                  4,704          4,775
Stock in Federal Home Loan Bank, at cost      16,131         13,222
Mortgage-backed securities:
  Available for sale                           3,314          5,231
  Held to maturity (market value of $9,858
    and $10,795 at March 31, 2001, and
    September 30, 2000, respectively)          9,319         10,445
Loans receivable:
  Held for sale                              169,311         88,320
  Held for investment, net                   790,320        825,692
Accrued interest receivable                    6,310          6,291
Real estate owned, net                         5,052          3,683
Premises and equipment, net                    6,659          5,823
Mortgage servicing rights, net                11,491         14,851
Other assets                                   3,598          2,545
                                           ----------     ----------
                                         $ 1,043,405      $ 984,525
                                           ==========     ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
  Customer deposit accounts                $ 625,361      $ 621,665
  Advances from Federal Home Loan Bank       316,605        264,436
  Other borrowings                                50            100
  Escrows                                      4,918          6,897
  Income taxes payable                         5,129          5,845
  Accrued expenses and other liabilities       3,477          1,921
                                           ----------     ----------
      Total liabilities                      955,540        900,864
                                           ----------     ----------

Commitments and contingencies

Stockholders' equity:
  Common stock of $0.15 par value:
    3,000,000 authorized; 9,763,112 issued
    at March 31, 2001, and 9,651,160 issued
    at September 30, 2000                      1,464          1,448
  Serial preferred stock of $1.00 par
    value: 7,500,000 shares authorized;
    none issued or outstanding                    --             --
  Additional paid-in capital                  15,560         14,737
  Retained earnings                           84,930         81,055
  Treasury stock, at cost; 1,206,117 shares
    at March 31, 2001 and 1,150,911 shares
    at September 30, 2000                    (13,903)       (13,078)
  Accumulated other comprehensive loss          (186)          (501)
                                           ----------     ----------
      Total stockholders' equity              87,865         83,661
                                           ----------     ----------
                                           1,043,405        984,525
                                           ==========     ==========
</TABLE>


See accompanying notes to consolidated financial statements.


                                    1

<PAGE>

NASB FINANCIAL, INC. AND SUBSIDIARY
Consolidated Statements of Income (Unaudited)
(In thousands, except share data)


<TABLE>
<CAPTION>

                                                 Three months ended        Six months ended
                                                      March 31,                March 31,
                                               ----------------------   ----------------------
                                                  2001         2000        2001         2000
                                               ---------    ---------   ---------    ---------
<S>                                            <C>          <C>         <C>          <C>
Interest on loans                              $ 21,138       17,938      42,276       35,061
Interest on mortgage-backed securities              251          407         555          689
Interest and dividends on securities                316          288         675          556
Other interest income                                72           91         166          214
                                               ---------    ---------   ---------    ---------
  Total interest income                          21,777       18,724      43,672       36,520
                                               ---------    ---------   ---------    ---------

Interest on customer deposit accounts             7,982        7,035      16,346       13,900
Interest on advances from FHLB and
    other borrowings                              5,074        2,959       9,755        5,485
                                               ---------    ---------   ---------    ---------
  Total interest expense                         13,056        9,994      26,101       19,385
                                               ---------    ---------   ---------    ---------
    Net interest income                           8,721        8,730      17,571       17,135
Provision for loan losses                           150          150         300          300
                                               ---------    ---------   ---------    ---------
    Net interest income after provision
      for loan losses                             8,571        8,580      17,271       16,835
                                               ---------    ---------   ---------    ---------
Other income (expense):
  Loan servicing fees                            (1,507)         265      (1,981)         496
  Impairment (loss) recovery on mortgage
    servicing rights                                 67          (20)       (666)          94
  Customer service fees and charges                 794          651       1,469        1,302
  Gain on sale of loans held for sale             1,446          832       2,777        1,804
  Other                                             263          471         483          686
                                               ---------    ---------   ---------    ---------
    Total other income                            1,063        2,199       2,082        4,382
                                               ---------    ---------   ---------    ---------
General and administrative expenses:
  Compensation and fringe benefits                3,518        2,925       6,692        6,003
  Premises and equipment                            569          633       1,152        1,275
  Advertising and business promotion                 90          157         205          367
  Federal deposit insurance premiums                 31           30          62          114
  Other                                             889        1,127       1,766        2,074
                                               ---------    ---------   ---------    ---------
    Total general and administrative expenses     5,097        4,872       9,877        9,833
                                               ---------    ---------   ---------    ---------
    Income before income tax expense              4,537        5,907       9,476       11,384
Income tax expense                                1,746        2,362       3,676        4,552
                                               ---------    ---------   ---------    ---------
    Net income                                  $ 2,791        3,545       5,800        6,832
                                               =========    =========   =========    =========
Basic earnings per share                        $  0.33         0.39        0.68         0.76
                                               =========    =========   =========    =========
Diluted earnings per share                      $  0.32         0.39        0.67         0.75
                                               =========    =========   =========    =========

Weighted average shares outstanding           8,556,995    8,979,958   8,548,574    8,949,456

</TABLE>



See accompanying notes to consolidated financial statements.

                                    2
<PAGE>

NASB FINANCIAL, INC. AND SUBSIDIARY
Consolidated Statements of Stockholders' Equity (Unaudited)
(In thousands, except share data)

<TABLE>
<CAPTION>

                                                                               Accumulated
                                                Additional                        other         Total
                                     Common      paid-in   Retained   Treasury comprehensive  stockholders'
                                      stock      capital   earnings     stock      loss         equity
                                  -----------------------------------------------------------------------
                                                  (Dollars in thousands)
<S>                                <C>          <C>        <C>       <C>         <C>          <C>
Balance at October 1, 2000          $ 1,448       14,737     81,055    (13,078)     (501)        83,661
  Comprehensive income:
    Net income                           --           --      5,800         --        --          5,800
    Other comprehensive loss,
      net of tax
       Unrealized loss on securities     --           --         --         --       315            315
                                                                                               ---------
    Total comprehensive income           --           --         --         --        --          6,115
  Cash dividends paid                    --           --     (1,925)        --        --         (1,925)
  Stock options exercised                16          823         --         --        --            839
  Purchase of common stock for
      Treasury                           --           --         --       (825)       --           (825)
                                  ----------------------------------------------------------------------
Balance at March 31, 2001           $ 1,464       15,560     84,930    (13,903)     (186)        87,865
                                  ======================================================================

</TABLE>



See accompanying notes to consolidated financial statements.



                                    3
<PAGE>

NASB FINANCIAL, INC. AND SUBSIDIARY
Consolidated Statements of Cash Flows (Unaudited)
(In thousands, except share data)


<TABLE>
<CAPTION>
                                                            Three months ended          Six months ended
                                                                 March 31,                  March 31,
                                                          ----------------------     ----------------------
                                                             2001         2000          2001         2000
                                                          ----------------------     ----------------------
<S>                                                       <C>          <C>           <C>          <C>
Cash flows from operating activities:
  Net income                                              $ 2,791        3,545         5,800        6,832
  Adjustments to reconcile net income to net cash
    provided by operating activities:
  Depreciation                                                214          256           432          520
  Amortization and accretion                                1,854          680         2,764          776
  Impairment loss (recovery) on mortgage servicing rights     (67)          20           666          (94)
  Gain on sale of loans receivable held for sale           (1,446)        (832)       (2,777)      (1,804)
  Provision for loan losses                                   150          150           300          300
  Origination and purchase of loans held for sale        (120,999)     (59,870)     (197,276)    (131,547)
  Sale of loans receivable held for sale                   79,604       68,418       160,925      139,863
Changes in:
  Accrued interest receivable                                 521         (368)          (19)        (509)
  Accrued expenses and other liabilities and
    income taxes payable                                     (782)        (857)          777          689
                                                          ----------------------     ----------------------
Net cash provided by (used in) operating activities       (38,160)      11,142       (28,408)      15,026

Cash flows from investing activities:
  Principal repayments of mortgage-backed securities:
    Held to maturity                                          584          757         1,136        1,513
    Available for sale                                      1,430        1,530         1,999        2,393
  Principal repayments of mortgage loans held
    for investment and held for sale                      108,692       54,425       176,509      111,155
  Principal repayments of other loans receivable            8,340        7,218        13,798       13,540
  Principal repayments of securities available for sale       367           --           367           --
  Loan origination - mortgage loans held for investment   (86,510)     (95,075)     (171,372)    (184,320)
  Loan origination - other loans                           (7,323)      (7,670)      (15,034)     (15,270)
  Purchase of mortgage loans held for investment           (5,692)      (8,040)      (13,369)     (20,985)
  Purchase of FHLB stock                                   (1,047)        (398)       (2,910)      (2,430)
  Proceeds for sale of real estate owned                      901          163         1,320          939
  Purchases of premises and equipment                      (1,093)        (116)       (1,267)        (162)
  Other                                                      (349)       1,015        (1,146)         160
                                                          ----------------------     ----------------------
Net cash provided by (used in)investing activities         18,300      (46,191)       (9,969)     (93,467)

</TABLE>


                                    4
<PAGE>

NASB FINANCIAL, INC. AND SUBSIDIARY
Consolidated Statements of Cash Flows (continued)
(In thousands, except share data)


<TABLE>
<CAPTION>
                                                            Three months ended          Six months ended
                                                                 March 31,                  March 31,
                                                          ----------------------     ----------------------
                                                             2001         2000          2001         2000
                                                          ----------------------     ----------------------
<S>                                                       <C>          <C>           <C>          <C>
Cash flows from financing activities:
  Net decrease in customer deposit accounts                11,113       34,309         3,696       32,327
  Proceeds from advances from FHLB                         68,000       33,500       140,000       89,700
  Repayment on advances from FHLB                         (53,066)     (30,563)      (87,831)     (41,125)
  Repayment of notes payable                                  (50)         (50)          (50)         (50)
  Cash dividends paid                                      (1,070)        (904)       (1,925)      (1,618)
  Stock options exercised                                      --           --            15           --
  Repurchase of common stock                                   --         (204)           --         (910)
  Net increase (decrease) in escrows                        2,370        2,037        (1,979)      (2,609)
                                                          ----------------------     ----------------------
Net cash provided by financing activities                  27,297       38,125        51,926       75,715
                                                          ----------------------     ----------------------
Net increase (decrease) in cash and cash equivalents        7,437        3,076        13,549       (2,726)
Cash and cash equivalents at beginning of the period        9,759        5,068         3,647       10,870
                                                          ----------------------     ----------------------
Cash and cash equivalents at end of period               $ 17,196        8,144        17,196        8,144
                                                          ======================     ======================

Supplemental disclosure of cash flow information:
  Cash paid for income taxes (net of refunds)            $  3,994        2,734         4,454        2,731
  Cash paid for interest                                   13,001        9,927        26,145       19,349

Supplemental schedule of non-cash investing and financing
  activities:
    Conversion of loans receivable to real estate owned  $  1,513          481         2,812          738
    Conversion of real estate owned to loans receivable        78           --            78           --
    Capitalization of mortgage servicing rights                --          291           992        1,109
    Transfer of loans from held to maturity to held
      for sale                                             67,117           --        67,117           --


</TABLE>




See accompanying notes to consolidated financial statements.

                                    5
<PAGE>

(1) BASIS OF PRESENTATION

     The accompanying unaudited consolidated financial statements are
prepared in accordance with instructions to Form 10-Q and do not include
all of the information and footnotes required by accounting principles
generally accepted in the United States of America ("GAAP") for complete
financial statements.  All adjustments are of a normal and recurring
nature and, in the opinion of management, the statements include all
adjustments considered necessary for fair presentation.  These
statements should be read in conjunction with the consolidated financial
statements and notes thereto included in the Company Annual Report on
Form 10-K to the Securities Exchange Commission.  Operating results for
the three months and six months ended March 31, 2001, are not
necessarily indicative of the results that may be expected for the
fiscal year ended September 30, 2001.

     In preparing the financial statements, management is required to
make estimates and assumptions that affect the reported amounts of
assets and liabilities as of the date of the balance sheet and revenues
and expenses for the period.  Material estimates that are particularly
susceptible to significant change in the near-term relate to the
determination of the allowances for losses on loans and real estate
owned.  While management believes that these allowances are adequate,
future additions to the allowances may be necessary based on changes in
economic conditions.

     In December 1999, the SEC issued Staff Accounting Bulletin ("SAB")
No. 101, "Revenue Recognition in Financial Statements."  SAB 101
summarizes the SEC's view on applying GAAP to revenue recognition in
financial statements.  Due to the issuance of SAB No. 101B, SAB No. 101
must be implemented no later than the fourth fiscal quarter of the
Company's fiscal year ending September 30, 2001.  The Company does not
believe that the implementation of SAB No. 101 will have a material
effect on the Company's consolidated financial statements.

     In September 2000, the FASB issued SFAS No. 140, "Accounting for
Transfers and Servicing of Financial Assets and Extinguishments of
Liabilities."  This Statement replaces SFAS No. 125, "Accounting for
Transfers and Servicing of Financial Assets and Extinguishment of
Liabilities" and rescinds SFAS No. 127, "Deferral of Effective Date of
Certain Provisions of FASB Statement No. 125."  It revises the standards
for accounting for securitizations and other transfers of financial
assets and extinguishments of liabilities.  Those standards are based on
consistent application of a financial-components approach that focuses
on control.  This Statement is effective for transfers and servicing of
financial assets and extinguishments of liabilities occurring after
March 31, 2001.  This Statement is effective for recognition and
reclassification of collateral and for disclosures relating to
securitization transactions and collateral for fiscal years ending after
December 15, 2000.  The Company does not believe that the implementation
of this Statement will have a material effect on the Company's
consolidated financial statements.

     Certain quarterly amounts for previous periods have been
reclassified to conform to the current quarter's presentation.


 (2) SECURITIES AVAILABLE FOR SALE

     The following table presents a summary of securities available for
sale.  Dollar amounts are expressed in thousands.

                                            March 31, 2001
                            -------------------------------------------
                                         Gross      Gross    Estimated
                            Amortized unrealized unrealized    market
                              cost       gains	 losses      value
                            -------------------------------------------
U.S. Government Obligations $ 2,490        --         (6)      2,484
Equity securities             2,738        --       (518)      2,220
                            -------------------------------------------
  Total                   $   5,228        --       (524)      4,704
                            ===========================================


                                  6
<PAGE>

(3) MORTGAGE-BACKED SECURITIES AVAILABLE FOR SALE

The following table presents a summary of mortgage-backed securities
available for sale.  Dollar amounts are expressed in thousands.

                                           March 31, 2001
                            -------------------------------------------
                                         Gross     Gross     Estimated
                            Amortized unrealized unrealized    market
                              cost       gains	 losses      value
                            -------------------------------------------


Pass-through certificates
  guaranteed by GNMA
    - fixed rate            $  3,157        62         --      3,219
Mortgage-backed derivatives
  (including CMO residuals
   and interest-only
   securities)                    90         5         --         95
                            -------------------------------------------
     Total                  $  3,247        67         --      3,314
                            ===========================================



(4) MORTGAGE-BACKED SECURITIES HELD TO MATURITY

     The following table presents a summary of mortgage-backed
securities held to maturity.  Dollar amounts are expressed in thousands.

                                           March 31, 2001
                            -------------------------------------------
                                         Gross     Gross     Estimated
                            Amortized unrealized unrealized    market
                              cost       gains	 losses      value
                            -------------------------------------------
FHLMC participation
  certificates:
    Fixed rate	         $  1,645        45         (4)       1,686
    Balloon maturity and
      adjustable rate         3,448        44         --        3,492
FNMA pass-through
  certificates:
   Fixed rate                   183        --         --          183
   Balloon maturity and
     adjustable rate            385         6         --          391
Pass-through certificates
  guaranteed by GNMA
    Fixed rate                  369        11         --          380
Collateralized mortgage
  obligation bonds              888       258         (1)       1,145
Other asset-backed
  Securities                  2,401       180         --        2,581
                            -------------------------------------------
      Total                $  9,319       544         (5)       9,858
                            ===========================================



(5) LOANS RECEIVABLE

     Loans receivable are as follows:

                                                        March 31,
                                                          2001
                                                 ---------------------
                                                 (Dollars in thousands)
LOANS HELD FOR INVESTMENT:
  Mortgage loans:
    Permanent loans on:
      Residential properties                           $ 297,779
      Business properties                                248,435
      Partially guaranteed by VA or
        insured by FHA                                    38,727
    Construction and development                         234,271
                                                       ----------
       Total mortgage loans                              819,212
  Commercial loans                                        10,442
  Installment loans to individuals                        50,049
                                                       ----------
    Total loans held for investment                      879,703
  Less:
    Undisbursed loan funds                               (76,389)
    Unearned discounts and fees and costs
      on loans, net                                       (5,562)
    Allowance for losses on loans                         (7,432)
                                                       ----------
     Net loans held for investment                     $ 790,320
                                                       ==========

                                  7

<PAGE>

                                                        March 31,
                                                          2001
                                                 ---------------------
                                                 (Dollars in thousands)
LOANS HELD FOR SALE:
  Mortgage loans:
    Permanent loans on:
      Residential properties                           $ 215,332
      Partially insured by FHA                               417
                                                       ----------
        Total loans held for sale                        215,749
   Less:
    Undisbursed loan funds                               (46,568)
    Unearned discounts and fees and costs
      on loans, net                                          130
                                                       ----------
        Net loans held for sale                         $169,311
                                                       ==========

     Included in the loans receivable balances at March 31, 2001, are
participating interests in mortgage loans and wholly owned mortgage
loans serviced by other institutions in the approximate amount of $3.8
million.  Loans and participations serviced for others amounted to
approximately $662.3 million at March 31, 2001.


(6) REAL ESTATE OWNED

     Real estate owned and other repossessed property consisted of the
following:

                                                        March 31,
                                                          2001
                                                 ---------------------
                                                 (Dollars in thousands)
Real estate acquired through (or deed
   in lieu of) foreclosure                              $ 6,254
Less:  allowance for losses                              (1,202)
                                                       ----------
   Total                                                $ 5,052
                                                       ==========


     Real estate owned is carried at fair value as of the date of
foreclosure minus any estimated disposal costs (the "new basis"), and is
subsequently carried at the lower of the new basis or fair value less
selling costs on the current measurement date.


(7) MORTGAGE SERVICING RIGHTS

     The following provides information about the Bank's mortgage
servicing rights for the period ended March 31, 2001.  Dollar amounts
are expressed in thousands.

     Balance at October 1, 2000               $ 14,851
     Additions:
        Originated mortgage servicing rights       992
     Reductions:
        Amortization                            (3,686)
        Sale of mortgage servicing rights           --
        Impairment recovery (loss)                (666)
                                               --------
     Balance at March 31, 2001                $ 11,491
                                               ========

                                  8
<PAGE>


(8) RECONCILIATION OF BASIC EARNINGS PER SHARE TO DILUTED EARNINGS PER
     SHARE

     The following table presents a reconciliation of basic earnings per
share to diluted earnings per share for the periods indicated.

<TABLE>
<CAPTION>



                                               Three months ended        Six months ended
                                             ----------------------   ----------------------
                                               3/31/01    3/31/00       3/31/01     3/31/00
                                             ----------------------   ----------------------
<S>                                           <C>        <C>           <C>         <C>
Net income (in thousands)                     $  2,790      3,545         5,800       6,832

Basic weighted average shares outstanding    8,556,995  8,979,958     8,548,574   8,949,456
Effect of stock options                         57,030    172,155        64,950     194,233
                                             ----------------------   ----------------------
Dilutive potential common shares             8,614,025  9,152,113     8,613,524   9,143,689

Net income per share:
   Basic                                      $   0.33       0.39          0.68        0.76
   Diluted                                        0.32       0.39          0.67        0.75


</TABLE>

     The dilutive securities included for each period presented above
consist entirely of stock options granted to employees as incentive
stock options under Section 442A of the Internal Revenue Code as
amended.

(9) SEGMENT INFORMATION

     In accordance with SFAS No. 131, "Disclosures about Segments of an
Enterprise and Related Information," the Company has identified two
principal operating segments for purposes of financial reporting:
Banking and Mortgage Banking.  These segments were determined based on
the Company's internal financial accounting and reporting processes and
are consistent with the information that is used to make operating
decisions and to assess the Company's performance by the Company's key
decision makers.

     The Mortgage Banking segment originates mortgage loans for sale to
investors and for the portfolio of the Banking segment.  The Banking
segment provides a full range of banking services through the Bank's
branch network, exclusive of mortgage loan originations.  A portion of
the income presented in the Mortgage Banking segment is derived from
sales of loans to the Banking segment based on a transfer pricing
methodology that is designed to approximate economic reality.  The Other
and Eliminations segment includes financial information from the parent
company plus inter-segment eliminations.

     The following table presents financial information from the
Company's operating segments for the periods indicated.  Dollar amounts
are expressed in thousands.

<TABLE>
<CAPTION>

Three months ended                    Mortgage  Other and
March 31, 2001               Banking  Banking  Eliminations Consolidated
------------------------------------------------------------------------
<S>                         <C>      <C>        <C>           <C>
Net interest income         $ 8,661       --         60         8,721
Provision for loan losses       150       --         --           150
Other income                   (292)   3,546     (2,191)        1,063
General and administrative
  expenses                    2,560    3,054       (517)        5,097
Income tax expense            2,178      189       (621)        1,746
                            -------------------------------------------
    Net income              $ 3,481      303       (993)        2,791
                            ===========================================
</TABLE>


<TABLE>
<CAPTION>

Three months ended                    Mortgage  Other and
March 31, 2000               Banking  Banking  Eliminations Consolidated
------------------------------------------------------------------------
<S>                         <C>      <C>        <C>           <C>
Net interest income         $ 8,662       --         68         8,730
Provision for loan losses       150       --         --           150
Other income                  1,814    1,946     (1,561)        2,199
General and administrative
  expenses                    2,759    2,321       (208)        4,872
Income tax expense            3,027     (150)      (515)        2,362
                            -------------------------------------------
    Net income              $ 4,540     (225)      (770)        3,545
                            ===========================================
</TABLE>

                                  9
<PAGE>


<TABLE>
<CAPTION>

Six months ended                      Mortgage  Other and
March 31, 2001               Banking  Banking  Eliminations Consolidated
------------------------------------------------------------------------
<S>                         <C>      <C>        <C>           <C>
Net interest income         $17,442       --        129        17,571
Provision for loan losses       300       --         --           300
Other income                   (207)   6,012     (3,723)        2,082
General and administrative
  expenses                    5,226    5,462       (811)        9,877
Income tax expense            4,508      212     (1,044)        3,676
                            -------------------------------------------
    Net income              $ 7,201      338     (1,739)        5,800
                            ===========================================
</TABLE>


<TABLE>
<CAPTION>

Six months ended                      Mortgage  Other and
March 31, 2000               Banking  Banking  Eliminations Consolidated
------------------------------------------------------------------------
<S>                         <C>      <C>        <C>           <C>
Net interest income         $16,997       --        138        17,135
Provision for loan losses       300       --         --           300
Other income                  3,276    4,291     (3,185)        4,382
General and administrative
  expenses                    5,358    5,033       (558)        9,833
Income tax expense            5,846     (297)      (997)        4,552
                            -------------------------------------------
    Net income              $ 8,769     (445)    (1,492)        6,832
                            ===========================================

</TABLE>


(10) BRANCH SALE

     During the quarter ended March 31, 2001, the Bank entered into a
contract to sell its branch office in Leawood, Kansas  to another
financial institution.  In addition to the branch building, the sale
will include approximately $55 million in customer deposits.  The branch
sale price is based primarily on the balance of customer deposits at the
time of closing and is projected to close during the fourth fiscal
quarter of 2001.  Based on an projected level of customer deposits, the
sale will result in an approximate pre-tax gain for the Bank between
$3.8 and $4.2 million.

     Since the branch sale will be primarily comprised of customer
deposit liabilities, the Bank will owe cash to the buyer at settlement.
To fund the sale, the Bank plans to sell two separately identified
portfolios of residential mortgage loans.  Pursuant to such sale, during
the quarter ended March 31, 2001, the Bank transferred the following
residential loan portfolios from the held for investment category to the
held for sale category:  1) $54 million of fixed rate loans with 15-year
original maturities that are approximately 5 to 6 years old, and  2) $10
million of fixed rate loans with 30-year original maturities that are
approximately 2 years old.  This transfer of loans to the held for sale
category was for the express purpose of funding the branch sale.




                                  10
<PAGE>


Item 2.  Management's Discussion and Analysis of Financial Condition and
Results of Operations.


GENERAL

     The principal business of the Company is to provide banking
services through the Bank.  Specifically, the Bank obtains savings and
checking deposits from the public, then uses those funds to originate
and purchase real estate loans and other loans. The Bank also purchases
mortgage-backed securities ("MBS") and other investment securities from
time to time as conditions warrant.  In addition to customer deposits,
the Bank obtains funds from the sale of loans held-for-sale, the sale of
securities available-for-sale, repayments of existing mortgage assets,
and advances from the Federal Home Loan Bank ("FHLB").  The Bank's
primary sources of income are interest on loans, MBS, and investment
securities plus customer service fees and income from mortgage banking
activities.  Expenses consist primarily of interest payments on customer
deposits and other borrowings and general and administrative costs.

     The Bank is regulated by the Office of Thrift Supervision ("OTS")
and the Federal Deposit Insurance Corporation ("FDIC"), and is subject
to periodic examination by both entities.  The Bank is also subject to
the regulations of the Board of Governors of the Federal Reserve System
("FRB"), which establishes rules regarding reserves that must be
maintained against customer deposits.


FINANCIAL CONDITION

Assets
     The Company's total assets as of March 31, 2001, were $1,043.4
million, an increase of $58.9 million from September 30, 2000, the prior
fiscal year end.

     As the Bank originates mortgage loans each month, management
evaluates the existing market conditions to determine which loans will
be held in the Bank's portfolio and which loans will be sold in the
secondary market.  Loans sold in the secondary market can be sold with
servicing released or converted into MBS and sold with the loan
servicing retained by the Bank.  At the time of each loan commitment, a
decision is made to either hold the loan for investment, hold it for
sale with servicing retained, or hold it for sale with servicing
released.  Management monitors market conditions to decide whether loans
should be held in portfolio or sold and if sold, which method of sale is
appropriate.  During the six months ended March 31, 2001, the Bank
originated and purchased $197.3 million in mortgage loans held for sale,
$184.7 million in mortgage loans held for investment, and $15.0 million
in other loans.  This total of $397.1 million in loans originated
compares to $352.1 million in loans originated during the six months
ended March 31, 2000.

     Included in the $169.3 million in loans held for sale as of March
31, 2001, are $44.5 million in mortgage loans held for sale with
servicing released.  Also included in loans held for sale as of March
31, 2001, are $0.4 million in commercial residential loans insured by
the Federal Housing Administration ("FHA").  The Bank holds options to
sell these insured loans back to the FHA during specified periods in the
future at specified prices.  All loans held for sale are carried at the
lower of cost or fair value.

     The Bank classifies problem assets as "substandard," "doubtful" or
"loss."  Substandard assets have one or more defined weaknesses, and it
is possible that the Bank will sustain some loss unless the deficiencies
are corrected.  Doubtful assets have the same defects as substandard
assets plus other weaknesses that make collection or full liquidation
improbable.  Assets classified as loss are considered uncollectible and
of such little value that a specific loss allowance is warranted.


     The following table summarizes the Bank's classified assets as
reported to the OTS.  Dollar amounts are expressed in thousands.


                               3/31/01     9/30/00      3/31/00
                            -------------------------------------
Asset Classification:
   Substandard               $ 20,979       17,235       12,828
   Doubtful                        --           --           --
   Loss                         2,313        2,857        2,617
                            -------------------------------------
                               23,292       20,092       15,445
Allowance for losses           (8,634)      (8,386)      (8,104)
                            -------------------------------------
                             $ 14,658       11,706        7,341
                            =====================================



                                  11

<PAGE>

     Management records a provision for loan losses in amounts
sufficient to cover current net charge-offs and an estimate of probable
losses based on an analysis of risks that management believes to be
inherent in the loan portfolio.  The Allowance for Loan and Lease Losses
("ALLL") recognizes the inherent risks associated with lending
activities but, unlike specific allowances, have not been allocated to
particular problem assets but to a homogenous pool of loans.  Management
believes that the specific loss allowances and ALLL are adequate.  While
management uses available information to determine these allowances,
future allowances may be necessary because of changes in economic
conditions.  Also, regulatory agencies (OTS and FDIC) review the Bank's
allowance for losses as part of their examinations, and they may require
the Bank to recognize additional loss provisions based on the
information available at the time of their examinations.



Liabilities and Equity
     Customer deposit accounts increased $3.7 million during the six
months ended March, 2001.  The weighted average rate on customer
deposits as of March 31, 2001, was 5.24%, an increase from 5.04% as of
March 31, 2000.

     Advances from the FHLB were $316.6 million as of March 31, 2001, an
increase of $52.2 million from September 30, 2000.  During the six-month
period, the Bank borrowed $140 million of new advances and repaid $88
million.  Management uses FHLB advances at various times as an alternate
funding source to provide operating liquidity and to fund the
origination and purchase of mortgage loans.

     Escrows were $4.9 million as of March 31, 2001, a decrease of $2.0
million from September 30, 2000.  This decrease is due to amounts paid
for borrowers' taxes during the fourth calendar quarter of 2000.

     Total stockholders' equity as of March 31, 2001, was $87.9 million
(8.42% of total assets).  This compares to a book value of $83.7 million
(8.50% of total assets) at September 30, 2000.  On a per share basis,
stockholders' equity was $10.27 on March 31, 2001, compared to $9.84 on
September 30, 2000.

     The Company paid cash dividends on its common stock of $0.10 on
November 24, 2000, and $0.125 on February 23, 2001.  Subsequent to the
quarter ended March 31, 2001, the Company announced a cash dividend of
$0.125 per share to be paid on May 25, 2001, to stockholders of record
as of May 4, 2001.

     Total stockholders' equity as of March 31, 2001, includes an
unrealized loss of $186,000, net of deferred income taxes, on available
for sale securities.  This amount is reflected in the line item
"Accumulated other comprehensive loss."


Ratios

     The following table illustrates the Company's return on assets
(annualized net income divided by average total assets); return on
equity (annualized net income divided by average equity); equity-to-
assets ratio (ending equity divided by ending total assets); and
dividend payout ratio (dividends paid divided by net income).


                               Six months ended
                           ------------------------
                             3/31/01      3/31/00
                           ------------------------
Return on assets              1.14%         1.57%
Return on equity             13.53%        16.79%
Equity-to-assets ratio        8.42%         9.22%
Dividend payout ratio        32.67%        23.68%


RESULTS OF OPERATIONS - Comparison of three months and six months ended
March 31, 2001 and 2000.

     For the three months ended March 31, 2001, the Company had net
income of $2,790,000 or $0.33 per share.  This compares to net income of
$3,545,000 or $0.39 per share for the quarter ended March 31, 2000.

     For the six months ended March 31, 2001, the Company had net income
of $5,800,000 or $0.68 per share.  This compares to net income of
$6,832,000 or $0.76 per share for the quarter ended March 31, 2000.

                                  12
<PAGE>


Net Interest Margin
     The Company's net interest margin is comprised of the difference
("spread") between interest income on loans, MBS and investments and the
interest cost of customer deposits and other borrowings.  Management
monitors net interest spreads and, although constrained by certain
market, economic, and competition factors, it establishes loan rates and
customer deposit rates that maximize net interest margin.


     The following table presents the total dollar amounts of interest
income and expense on the indicated amounts of average interest-earning
assets or interest-costing liabilities for the six months ended March
31, 2001 and 2000.  Average yields reflect reductions due to non-accrual
loans.  Once a loan becomes 90 days delinquent, any interest that has
accrued up to that time is reserved and no further interest income is
recognized unless the loan is paid current.  Average balances and
weighted average yields for the periods include all accrual and non-
accrual loans.  The table also presents the interest-earning assets and
yields for each respective period.  Dollar amounts are expressed in
thousands.


                                   Six months ended 3/31/01    As of
                                  --------------------------- 3/31/01
                                   Average            Yield/   Yield/
                                   Balance  Interest   Rate     Rate
                                  -------------------------------------
Interest-earning assets
  Loans                         $  933,333    42,276   9.06%    8.30%
  Mortgage-backed securities        16,760       555   6.62%    6.19%
  Securities                        19,389       675   6.96%    6.27%
  Bank deposits                      5,926       166   5.60%    4.93%
                                  -------------------------------------
    Total earning assets           975,408    43,672   8.95%    8.19%
                                            ---------------------------
Non-earning assets                  36,274
                                  ---------
      Total                     $1,011,682
                                  =========
Interest-costing liabilities
  Customer deposits accounts     $ 617,136    16,346   5.30%    5.24%
  FHLB Advances                    293,771     9,752   6.64%    6.40%
  Other borrowings                      79         3   7.64%    7.50%
                                  -------------------------------------
    Total costing liabilities      910,986    26,101   5.73%    5.63%
                                            ---------------------------
Non-costing liabilities             14,997
Stockholders' equity                85,699
                                  ---------
      Total                     $1,011,682
                                  =========
Net earning balance             $   64,422
                                  =========
Earning yield less costing rate                        3.22%    2.56%
                                                      ================
Average interest-earning assets,
  net interest, and net yield
  spread on average interest-
  earning assets                $  975,408    17,571   3.60%
                                  ==========================




                                    Six months ended 3/31/00   As of
                                  --------------------------- 3/31/00
                                   Average            Yield/   Yield/
                                   Balance  Interest   Rate     Rate
                                  -------------------------------------
Interest-earning assets
  Loans                          $ 785,630    35,061   8.93%    8.57%
  Mortgage-backed securities        21,187       689   6.50%    5.67%
  Securities                        15,930       556   6.98%    6.77%
  Bank deposits                      6,728       214   6.36%    5.61%
                                  -------------------------------------
    Total earning assets           829,475    36,520   8.81%    8.45%
                                            ---------------------------
Non-earning assets                  32,670
                                  ---------
      Total                      $ 862,145
                                  =========
Interest-costing liabilities
  Customer deposits accounts     $ 575,998    13,900   4.83%    5.04%
  FHLB Advances                    193,625     5,481   5.66%    5.73%
  Other borrowings                     129         4   6.22%    7.50%
                                  -------------------------------------
    Total costing liabilities      769,752    19,385   5.04%    5.22%
                                            ---------------------------
Non-costing liabilities             11,513
Stockholders' equity                80,880
                                  ---------
      Total                      $ 862,145
                                  =========
Net earning balance              $  59,723
                                  =========
Earning yield less costing rate                        3.77%    3.23%
                                                      ================
Average interest-earning assets,
  net interest, and net yield
  spread on average interest-
  earning assets                 $ 829,475    17,135   4.13%
                                  ==========================



     The following table provides information regarding changes in
interest income and interest expense.  For each category of interest-
earning asset and interest-costing liability, information is provided on
changes attributable to  (1) changes in volume (change in volume
multiplied by the old rate),  (2) changes in rates (change in rate
multiplied by the old volume), and  (3) changes in rate and volume
(change in rate multiplied by the change in volume).  Average balances,
yields and rates used in the preparation of this analysis come from the
preceding table.  Dollar amounts are expressed in thousands.



<TABLE>
<CAPTION>
                                         Six months ended March 31, 2001, compared to
                                              six months ended March 31, 2000
                                        -----------------------------------------------
                                                                     Yield/
                                           Yield         Volume      Volume      Total
                                        -----------------------------------------------
  <S>                                    <C>           <C>         <C>         <C>
Components of interest income:
  Loans                                $     511        6,595         109       7,215
  Mortgage-backed securities                  13         (144)         (3)       (134)
  Securities                                  (2)         121          --         119
  Other assets                               (26)         (25)          3         (48)
                                        -----------------------------------------------
Net change in interest income                496        6,547         109       7,152
                                        -----------------------------------------------

Components of interest expense:
  Customer deposit accounts                1,354          994          98       2,446
  FHLB Advances                              949        2,834         488       4,271
  Other borrowings                             1           (2)         --          (1)
                                        -----------------------------------------------
Net change in interest expense             2,304        3,826         586       6,716
                                        -----------------------------------------------
  Increase (decrease) in net
    interest margin                    $  (1,808)       2,721        (477)        436
                                        ===============================================

</TABLE>




                                  13
<PAGE>

     Net interest margin before loan loss provision for the three months
ended March 31, 2001, decreased slightly from the same period in the
prior year.  Specifically, total interest income increased $3.0 million,
due primarily to an increase in the average balance of loans
outstanding.  This was offset by an increase in total interest expense
for the three months ended March 31, 2001, of $3.0 million, which was
due to an increase in the average balances of customer deposits and FHLB
advances plus an increase in average rates paid on those borrowings.

     Net interest margin before loan loss provision for the six months
ended March 31, 2001, increased $436,000 from the same period in the
prior year.  Specifically, interest on loans increased $7.2 million,
$6.5 million of which was due to an increase in the average balance of
loans outstanding and $0.5 million due to an increase in yield on loans.
This was offset by an increase in total interest expense for the six
months ended March 31, 2001, of $6.7 million from the same period in the
prior year.  $1.0 million of this increase in interest expense was due
to an increase in the average balances of customer deposits, $2.8
million was due to an increase in average balances of FHLB advances,
$1.4 million was due to a 47 basis point increase in the average cost of
customer deposit accounts, and $0.9 million was due to a 98 basis point
increase in the average costs of FHLB advances.  The total yield on
interest-earning assets increased 14 basis points to 8.95% during the
six months ended March 31, 2001, compared to 8.81% in the prior year.
The weighted average cost of total liabilities was 5.73%, compared to
5.04% in the prior year, an increase of 69 basis points.

     The Company's net interest margin is impacted by changes in market
interest rates, which have varied greatly over time.  Changing interest
rates affect the level of prepayments on mortgages, the demand for new
mortgage loans, and the supply and interest cost of customer deposits
and borrowings used to fund interest-earning assets.  Management
monitors the Company's net interest spreads (the difference between
yields received on assets and paid on liabilities) and, although
constrained by market conditions, economic conditions, and prudent
underwriting standards, it offers deposit rates and loan rates that
maximize net interest income.  Management does not predict interest
rates, but instead attempts to fund the Company's assets with
liabilities of a similar duration to minimize the impact of changing
interest rates on the Company's net interest margin.  Since the relative
spread between financial assets and liabilities is constantly changing,
the Company's current net interest spread may not be an indication of
future net interest income.

Provision for Loan Losses
     The Company's provision for loan losses was  $150,000 during the
quarter ended March 31, 2001, and provision for loan losses was $300,000
for the six months ended March 31, 2001.  As stated above, management
believes that the provisions for loss are adequate.  These provisions
can fluctuate based on changes in economic conditions or changes in the
information available to management.  Also, regulatory agencies review
the Company's allowances for losses as a part of their examination
process and they may require changes in loss provision amounts based on
information available at the time of their examination.


Other Income
     Other income for the three months ended March 31, 2001, decreased
$1.1 million from the same period in the prior year. Loan servicing fees
decreased $1.8 million from the same period in the prior year as a
result of increased amortization of mortgage servicing rights, which was
caused by an increase in estimated prepayments of the underlying
mortgage loans.  This was partially offset by an increase in gain on
sale of loans held for sale of $0.6 million and an increase in customer
service fees of $143,000.

     Other income for the six months ended March 31, 2001, decreased
$2.3 million from the same period in the prior year.  This decrease was
primarily a result of a decrease in loan servicing fees of $2.5 million
and an impairment loss on mortgage serving rights of $666,000 compared
to a recovery on mortgage servicing rights of $94,000 in the period a
year ago.  The decrease in loan servicing fees and the impairment loss
on mortgage servicing rights were both a result of increases in actual
and estimated future prepayments of the underlying mortgage loans.  The
decreases to other income were partially offset by an increase in gain
on sale of loans held for sale of $1.0 million.

     During the quarter ended March 31, 2001, the Federal Reserve Board
("FRB") decreased the discount rate (the rate member banks pay to borrow
from the Federal Reserve) on three separate occasions, then again
subsequent to the quarter end, each time by one-half percent.  Market
interest rates, including residential mortgage rates, have generally
decreased in response.  Management believes that decreases in
residential mortgage rates will likely increase the level of mortgage
refinancing activity and result in a high level of mortgage prepayments.
Since mortgage prepayment estimates and actual prepayments are
significant components used to calculate the market value of mortgage
servicing rights and their amortization, such increases may have a
significant impact on the future market value and amortization of the
Bank's mortgage servicing rights.

                                  14
<PAGE>

General and Administrative Expenses
     Total general and administrative expenses for the quarter ended
March 31, 2001, increased $226,000 (4.6%) from the same quarter in the
prior year.  Total general and administrative expenses for the six
months ended March 31, 2001, increased $44,000 from the prior year.
Compensation expense for the quarter ended March 31, 2001, increased
$0.6 million from the prior year and for the six months ended March 31,
2001, increased $0.7 million from the prior year.  These increases are
attributable to the increase in loan origination volume during the
quarter ended March 31, 2001.

Income Taxes
     The Company accounts for income taxes in accordance with SFAS No.
109, "Accounting for Income Taxes."  The most recent audit of the Bank's
tax returns by the Internal Revenue Service was completed during the
quarter ended June 30, 1996.


REGULATION

The Bank is a member of the FHLB System and its customers' deposits are
insured by the Savings Association Insurance Fund ("SAIF") of the FDIC.
The Bank is subject to regulation by the OTS as its chartering
authority.  Since passage of the Financial Institutions Reform,
Recovery, and Enforcement Act of 1989 ("FIRREA" or the "Act"), the FDIC
also has regulatory control over the Bank.  The transactions of SAIF-
insured institutions are limited by statute and regulations that may
require prior supervisory approval in certain instances.  Institutions
also must file reports with regulatory agencies regarding their
activities and their financial condition.  The OTS and FDIC make
periodic examinations of the Bank to test compliance with the various
regulatory requirements.  The OTS can require an institution to re-value
its assets based on appraisals and to establish specific valuation
allowances.  This supervision and regulation is intended primarily for
the protection of depositors.  Also, savings institutions are subject to
certain reserve requirements under Federal Reserve Board regulations.


Insurance of Accounts
     The SAIF insures the Bank's customer deposit accounts to a maximum
of $100,000 for each insured member.  Deposit insurance premiums are
determined using a Risk-Related Premium Schedule ("RRPS"), a matrix
which places each insured institution into one of three capital groups
and one of three supervisory groups.  Currently, deposit insurance
premiums range from 0 to 27 basis points of the institution's total
deposit accounts, depending on the institution's risk classification.
The Bank is currently considered "well capitalized", which is the most
favorable capital group and supervisory subgroup.  SAIF-insured
institutions are also assessed a premium to service the interest on
Financing Corporation ("FICO") debt.

Regulatory Capital Requirements
     At March 31, 2001, the Bank exceeds all capital requirements
prescribed by the OTS.  To calculate these requirements, a thrift must
deduct any investments in and loans to subsidiaries that are engaged in
activities not permissible for a national bank.  As of March 31, 2001,
the Bank did not have any investments in or loans to subsidiaries
engaged in activities not permissible for national banks.

     The following tables summarize the relationship between the Bank's
capital and regulatory requirements.  Dollar amounts are expressed in
thousands.


At March 31, 2001                                    Amount
----------------------------------------------------------------
GAAP capital (Bank only)                            $  85,299
Adjustment for regulatory capital:
  Intangible assets                                    (1,343)
  Disallowed portion of servicing assets                 (712)
  Reverse the effect of SFAS No. 115                      (37)
                                                     ---------
    Tangible capital                                   83,207
  Qualifying intangible assets                          1,201
                                                     ---------
    Tier 1 capital (core capital)                      84,408
  Qualifying general valuation allowance                5,372
                                                     ---------
       Risk-based capital                           $  89,780
                                                     =========



                                  15
<PAGE>

<TABLE>
<CAPTION>
                                                                  As of March 31, 2001
                                            -------------------------------------------------------------------
                                                                 Minimum required for    Minimum required to be
                                                   Actual           Capital Adequacy       "Well Capitalized"
                                            -------------------  ----------------------  -----------------------
                                             Amount     Ratio        Amount     Ratio       Amount     Ratio
                                            -------------------  ----------------------  -----------------------
<S>                                        <C>        <C>          <C>         <C>        <C>        <C>
Total capital to risk-weighted assets      $ 89,780     11.8%        61,138      >=8%       76,423     >=10%
Core capital to adjusted tangible assets     84,408      8.1%        41,611      >=4%       52,014      >=5%
Tangible capital to tangible assets          83,207      8.0%        15,604     >=1.5%          --       --
Tier 1 capital to risk-weighted assets       84,408     11.0%            --        --       45,854      >=6%

</TABLE>



Interest Rate Risk Component
     The OTS has adopted a rule which requires savings institutions with
a "greater than normal" level of interest rate exposure to deduct
amounts from their total capital for the purpose of calculating the
risk-based capital requirement.  The deduction is an amount equal to
one-half of the difference between the institution's measured exposure
and the "normal" exposure level (i.e., 2% of the estimated economic
value of the institution's assets).  The rule measures interest rate
risk as the decline in Net Portfolio Value that would result from a
sharp increase or decrease in market interest rates.  The rule sets
forth a description of valuation methodologies for assets, liabilities,
and off-balance sheet items.  Subsidiaries that are deemed to be
controlled by an institution under accounting principles generally
accepted in the United States of America will be consolidated for
purposes of calculating interest rate risk.  Although the interest rate
component was originally scheduled to become effective by December 31,
1994, the OTS has notified institutions to delay implementation until
further notice.


Loans to One Borrower
     Institutions are prohibited from lending to any one borrower in
excess of 15% of the Bank's unimpaired capital plus unimpaired surplus,
or 25% of unimpaired capital plus unimpaired surplus if the loan is
secured by certain readily marketable collateral.  Renewals that exceed
the loans-to-one-borrower limit are permitted if the original borrower
remains liable and no additional funds are disbursed.  As of March 31,
2001, the Bank had no loans that exceeded the loans to one borrower
limit.

Investment in Subsidiaries
     Investments in and extensions of credit to subsidiaries not engaged
in activities permissible for national banks must generally be deducted
from capital.  As of March 31, 2001, the Bank did not have any
investments in or advances to subsidiaries engaged in activities not
permissible for national banks.


LIQUIDITY AND CAPITAL RESOURCES

     The Bank generates liquidity primarily from savings deposits and
repayments on loans, investments, and MBS.  Liquidity measures the
ability to meet deposit withdrawals and lending commitments.  For
secondary sources of liquidity, the Bank has the ability to sell assets
held for sale, can borrow from primary securities dealers on a
collateralized basis, and can use the FHLB of Des Moines' credit
facility.

     Fluctuations in the level of interest rates typically impact
prepayments on mortgage loans and MBS.  During periods of falling
interest rates, these prepayments increase and a greater demand exists
for new loans.  The Bank's customer deposits are partially impacted by
area competition.  Management is not currently aware of any other market
or economic conditions that could materially impact the Bank's future
ability to meet obligations as they come due.


                                    16

<PAGE>




PART II - OTHER INFORMATION


Item 1.  Legal Proceedings
		There were no material proceedings pending other than ordinary
and routine litigation incidental to the business of the Company.


Item 2.	Changes in Securities
		None.


Item 3.	Defaults Upon Senior Securities
		None.


Item 4.	Submission of Matters to a Vote of Security Holders
		     The annual stockholders' meeting was held on January 25,
2001.  The following persons were elected to NASB Financial
Inc.'s Board of Directors for three-year terms:

			David H. Hancock
			Linda S. Hancock

		     The firm on Deloitte and Touche was ratified for
appointment as independent auditors for the fiscal year ended
September 30, 2001.


Item 5. 	Other Information
		None.


Item 6. 	Exhibits and Reports on Form 8-K
		None.



                                    17

<PAGE>

                         S I G N A T U R E S


     Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.



                                              NASB Financial, Inc.
                                                  (Registrant)


May 11, 2001                               By: /s/David H. Hancock
                                               David H. Hancock
                                               Chairman and
                                               Chief Executive Officer



May 11, 2001                              By:  /s/Keith B. Cox
                                               Keith B. Cox
                                               Vice President and
                                                 Treasurer



                                    18

<PAGE>