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Capitol Federal Financial, Inc.® Reports Fourth Quarter and Fiscal Year 2024 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 and fiscal year ended September 30, 2024. For best viewing results, please view this release in Portable Document Format (PDF) on our website, https://ir.capfed.com.\n\nHighlights for the quarter include:\n\n\nnet income of $12.1 million;\n\n\nbasic and diluted earnings per share of $0.09;\n\n\nnet interest margin of 1.80%;\n\n\npaid dividends of $0.085 per share; and\n\n\non October 22, 2024, announced a cash dividend of $0.085 per share, payable on November 15, 2024 to stockholders of record as of the close of business on November 1, 2024.\n\n\nHighlights for the fiscal year include:\n\n\nnet income of $38.0 million;\n\n\nbasic and diluted earnings per share of $0.29;\n\n\nnet interest margin of 1.77%; and\n\n\npaid dividends of $0.34 per share.\n\n\nComparison of Operating Results for the Three Months Ended September 30, 2024 and June 30, 2024\n\nFor the quarter ended September 30, 2024, the Company recognized net income of $12.1 million, or $0.09 per share, compared to net income of $9.6 million, or $0.07 per share, for the quarter ended June 30, 2024. The higher net income in the current quarter was due primarily to a release of provision for credit losses in the current quarter compared to provision expense in the prior quarter. The net interest margin increased three basis points, from 1.77% for the prior quarter to 1.80% for the current quarter due mainly to net interest margin improvements from the loan portfolio outpacing 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\nSeptember 30,\n\n\n\n \n\n\n\nJune 30,\n\n\n\n \n\n\n\nChange Expressed in:\n\n\n\n\n\n \n\n\n\n \n\n\n\n2024\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n2024\n\n\n\n \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\...