Business
Capitol Federal Financial, Inc.® Reports Fiscal Year 2020 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 fiscal year ended September 30, 2020. Detailed results will be available in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2020, which will be filed with the Securities and Exchange Commission (\"SEC\") on or about November 25, 2020 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 $18.3 million;\n\n\nbasic and diluted earnings per share of $0.13;\n\n\nnet interest margin of 2.03%;\n\n\nannualized deposit growth of 8.0%;\n\n\nrepurchased $23.8 million of common stock, or 2,558,100 shares, at an average price of $9.31 per share;\n\n\npaid dividends of $11.7 million, or $0.085 per share; and\n\n\non October 20, 2020, announced a cash dividend of $0.085 per share, payable on November 20, 2020 to stockholders of record as of the close of business on November 6, 2020.\n\n\nHighlights for the fiscal year include:\n\n\nnet income of $64.5 million;\n\n\nbasic and diluted earnings per share of $0.47;\n\n\nnet interest margin of 2.12%;\n\n\ndeposit growth of 10.9%;\n\n\npaid dividends of $93.9 million, or $0.68 per share; and\n\n\non October 28, 2020, announced a fiscal year 2020 cash true-up dividend of $0.13 per share, payable on December 4, 2020 to stockholders of record as of the close of business on November 20, 2020.\n\n\nImpact on Operations Due to the Coronavirus Disease 2019 (\"COVID-19\") Pandemic During the Current Quarter\n\nManagement's actions related to COVID-19 and the impact of COVID-19 on certain aspects of the Company's business during the current quarter are summarized below.\n\nBank operations - Due to the increase in COVID-19 cases in late June into July, management changed lobby services in early July. Lobby services were limited to appointment only while drive-through, mobile, and online banking became the Bank's primary channels of serving customers. Retail loan closings were conducted with customers coming to our drive-through facilities and commercial loans have been closed in person only when necessary. In mid-September 2020, ...