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Capitol Federal Financial, Inc.® Reports First Quarter Fiscal Year 2022 Results
TOPEKA, Kan.--(BUSINESS WIRE)-- Capitol Federal Financial, Inc.® (NASDAQ: CFFN) (the "Company"), the parent company of Capitol Federal Savings Bank (the
About this update from Capitol Federal Financial, Inc.
[{"type":"text","content":" TOPEKA, Kan.--(BUSINESS WIRE)--\nCapitol Federal Financial, Inc.® (NASDAQ: CFFN) (the \"Company\"), the parent company of Capitol Federal Savings Bank (the \"Bank\"), announced results today for the quarter ended December 31, 2021. The Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 2021 will be filed with the Securities and Exchange Commission (\"SEC\") on or about February 9, 2022 and posted on our website, http://ir.capfed.com. For best viewing results, please view this release in Portable Document Format (PDF) on our website.\n\nHighlights for the quarter include:\n\n\nnet income of $22.2 million;\n\n\nbasic and diluted earnings per share of $0.16;\n\n\nnet interest margin of 1.99%;\n\n\npaid dividends of $41.4 million, or $0.305 per share; and\n\n\non January 25, 2022, announced a cash dividend of $0.085 per share, payable on February 18, 2022 to stockholders of record as of the close of business on February 4, 2022.\n\n\nComparison of Operating Results for the Three Months Ended December 31, 2021 and September 30, 2021\n\nFor the quarter ended December 31, 2021, the Company recognized net income of $22.2 million, or $0.16 per share, compared to net income of $18.6 million, or $0.14 per share, for the quarter ended September 30, 2021. The increase in net income was due primarily to a higher negative provision for credit losses compared to the prior quarter and lower non-interest expense. The net interest margin increased two basis points, from 1.97% for the prior quarter to 1.99% for the current quarter, due mainly to a decrease in the cost of retail certificates of deposit.\n\nInterest and Dividend Income\n\nThe following table presents the components of interest and dividend income for the time periods presented, along with the change measured in dollars and percent.\n\n\n\n \n\n\n\nFor the Three Months Ended\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\nDecember 31,\n\n\n\n \n\n\n\nSeptember 30,\n\n\n\n \n\n\n\nChange Expressed in:\n\n\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\nDollars\n\n\n\n \n\n\n\nPercent\n\n\n\n\n\n \n\n\n\n(Dollars in thousands)\n\n\n\n \n\n\n\n \n\n\n\n\n\nINTEREST AND DIVIDEND INCOME:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nLoans receivable\n\n\n\n$\n\n\n\n55,788\n\n\n\n \n\n\n\n$\n\n\n\n57,139\n\n\n\n \n\n\n\n...