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Capitol Federal Financial, Inc.® Reports First Quarter Fiscal Year 2025 Results
TOPEKA, Kan.--(BUSINESS WIRE)-- Capitol Federal Financial, Inc.® (NASDAQ: CFFN) (the "Company," "we" or "our"), the parent company of Capitol Federal Savings
About this update from Capitol Federal Financial, Inc.
[{"type":"text","content":" TOPEKA, Kan.--(BUSINESS WIRE)--\nCapitol Federal Financial, Inc.® (NASDAQ: CFFN) (the \"Company,\" \"we\" or \"our\"), the parent company of Capitol Federal Savings Bank (the \"Bank\"), announced results today for the quarter ended December 31, 2024. For best viewing results, please view this release in Portable Document Format (PDF) on our website, https://ir.capfed.com.\n\n\nHighlights for the current quarter include:\n\n\n\nnet income of $15.4 million, $3.4 million higher than the previous quarter;\n\n\n\nbasic and diluted earnings per share of $0.12, up $0.03 from the previous quarter;\n\n\n\nnet interest margin of 1.86%, an increase of six basis points from the prior quarter;\n\n\n\ncontinued shift in the loan portfolio to commercial loans with a $137.5 million increase in that portion of the portfolio;\n\n\n\npaid dividends of $0.085 per share; and\n\n\n\non January 28, 2025, announced a cash dividend of $0.085 per share, payable on February 21, 2025 to stockholders of record as of the close of business on February 7, 2025.\n\n\n\nComparison of Operating Results for the Three Months Ended December 31, 2024 and September 30, 2024\n\n\nFor the quarter ended December 31, 2024, the Company recognized net income of $15.4 million, or $0.12 per share, compared to net income of $12.1 million, or $0.09 per share, for the quarter ended September 30, 2024. The higher net income in the current quarter was due primarily to lower income tax expense compared to the prior quarter due mainly to income tax expense associated with the pre-1988 bad debt recapture during the prior quarter. There was no similar tax expense in the current quarter. See additional discussion regarding the pre-1988 bad debt recapture in the \"Income Tax Expense\" section below. The net interest margin increased six basis points, from 1.80% for the prior quarter to 1.86% for the current quarter due mainly to growth in the higher yielding commercial loan portfolio.\n\n\nInterest and Dividend Income\n\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\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\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 \n\n\n\n\n\n\nSeptember 30,\n\n\...