Capitol Federal Financial, Inc. · NASDAQ:CFFN
Capitol Federal Financial — Shareholder Meeting (January 2024)
16 slides from Capitol Federal Financial's shareholder meeting presentation, Jan 25, 2024
Slide 1: Welcome to the 2023 Capitol Federal Financial, Inc. Annual Meeting
CFEN WELCOME TO THE 2023 CAPITOL FEDERAL FINANCIAL, INC.° ANNUAL MEETING
Slide 2: Board of Directors
John B. Dicus, Chairman, President & CEO Michel’ Philipp Cole, ABC Morris J. Huey, II Jeffrey M. Johnson Michael T. McCoy, M.D. James G. Morris Carlton A. Ricketts Jeffrey R. Thompson Board of Directors
Slide 3: Management
Management John B. Dicus, Chairman, President & CEO Anthony S. Barry, Chief Corporate Services Officer Natalie G. Haag, General Counsel & Corporate Secretary Rick C. Jackson, Chief Lending Officer Robert D. Kobbeman, Chief Commercial Banking Officer William J. Skrobacz, Jr., Chief Retail Operations
Slide 4: Safe Harbor Disclosure
Safe Harbor Disclosure Except for the historical information contained in this presentation, the matters discussed herein may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements a
Slide 5: Selected Balance Sheet Data
Selected Balance Sheet Data September 30, 2023 2022 (in thousands) Total Assets $ 10,177,461 $ 9,624,897 Total Loans $ 7,970,949 $ 7,464,208 Total Deposits $ 6,051,220 $ 6,194,866 Total Borrowings $ 2,879,125 $ 2,132,154 Total Stockholders' Equity $ 1,044,054 $ 1,096,499
Slide 6: Strategic Securities Transaction
Strategic Securities Transaction • In October 2023, the Company initiated a strategic securities transaction (“securities strategy”) by selling $1.30 billion of securities representing 94% of the portfolio. • Of the cash received from the sale, $500.0 million was used to reduce borrowings costing 4.
Slide 7: Financial Performance FY 2023
Financial Performance FY 2023 Excluding Securities Actual Strategy (GAAP) (Non-GAAP) Net Income (in thousands) $(101,659) $43,963 Earnings Per Share (basic & diluted) $(0.76) $0.33 Net Interest Margin 1.43% Return on Average Assets (0.93%) 0.40% Return on Average Equity (9.48%) 4.10%
Slide 8: Financial Performance FY 2023 (Efficiency and Asset Ratios)
Financial Performance FY 2023 Excluding Securities Actual Strategy (GAAP) (Non-GAAP) Efficiency Ratio (626.63%) 65.31% Operating Expense Ratio 1.04% Non-performing Assets to Total Assets 0.09% Equity to Total Assets 10.26%
Slide 9: Calendar Year 2023 Dividends
Calendar Year 2023 Dividends Regular quarterly dividends* $ 45,271,508 True Blue Capitol dividend (June) — True-up dividend (December) — Total cash dividends paid in 2023 $ 45,271,508 *Paid in February, May, August, and November.
Slide 10: Calendar Year 2023 Share Repurchases
Calendar Year 2023 Share Repurchases Number of shares repurchased 950,594 Average price per share $ 5.26 Total amount repurchased $ 4,992,783
Slide 11: Cumulative Cash Returned to Stockholders
(in m ill io ns ) $1,858.7 $1,908.8 $415.5 $420.4 $949.3 $994.5 $493.9 $493.9 2022 2023 $0.0 $400.0 $800.0 $1,200.0 $1,600.0 $2,000.0 $2,400.0 Cumulative Cash Returned to Stockholders Stockholder Dividends $10.64/sh per share Share Repurchases 37,412,197 shares Avg. price of $11.24 * * True Blue® Di
Slide 12: Payment of Dividends
Payment of Dividends • CFFN declared a regular quarterly dividend of $0.085 per share on January 23, 2024. • For fiscal year 2024, it is the intent of our Board and management to pay out the regular quarterly cash dividend of $0.085 per share, totaling $0.34 per share for the year. • To the extent t
Slide 13: Long-Term Strategy
Long-Term Strategy • Single-Family Portfolio Lender • Deposit Services • Commercial Banking • Excellent Asset Quality • Strong Cost Controls • Strong Capital Position • Stockholder Value • Interest Rate Risk Management
Slide 14: Questions & Answers
7 Questions & Answers €@) CAPITOL FEDERAL FINANCIAL, INC.° ANNUAL MEETING
Slide 15: Thank you for attending
4 Thank you for attending €@) CAPITOL FEDERAL FINANCIAL, INC.° ANNUAL MEETING
Slide 16: Financial Performance FY 2023 Non-GAAP Reconciliation
Financial Performance FY 2023 Non-GAAP Reconciliation For the Year Ended September 30, 2023 Excluding Securities Actual Securities Strategy (GAAP) Strategy (Non-GAAP) Net Income (in thousands) $(101,659) $(145,622) $43,963 Earnings Per Share (basic & diluted) $(0.76) $(1.09) $0.33 Return on Average
Capitol Federal Financial — Shareholder Meeting (January 2024) on 6ix