Capitol Federal Financial, Inc. · NASDAQ:CFFN
Capitol Federal Financial — Q2 2026 Earnings Presentation
32 slides from Capitol Federal Financial's earnings presentation, April 2026
Slide 1: Quarterly Investor Presentation April 2026
April 2026 QUARTERLY INVESTOR PRESENTATION
Slide 2: Safe Harbor Disclosure
Safe Harbor Disclosure Except for the historical information contained in this press release, 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
Slide 3: Capitol Federal Financial, Inc. (CFFN) at a glance
Capitol Federal Financial, Inc. (CFFN) at a glance Topeka, Kansas For over 130 years, Capitol Federal® has been a leader in financial stability and trust in the Corporate Offices communities we serve. Nasdaq: CFFN We will continue the tradition we have held since 1893 as a community-oriented financi
Slide 4: Uniquely positioned, deeply experienced and fully aligned to deliver on our strategic roadmap
ü ü Uniquely positioned, deeply experienced and fully aligned to deliver on our strategic roadmap Our leadership team combines deep industry expertise with a proven track record of operational excellence. We have architected the current strategic plan and possess the unique institutional knowledge r
Slide 5: CFFN investment rationale
CFFN investment rationale Banking expertise strengthened by a 1 deep understanding of the communities Uniquely focused we serve on delivering long- term, sustainable Robust balance sheet, stable portfolio and stockholder value 2 long history of disciplined capital returns while maintaining a strong
Slide 6: Corporate Strategy
Corporate Strategy We strive to enhance stockholder value while upholding sound asset quality and a strong capital position. Strategic Actions Digital Banking Deliver long-term value to stockholders Commercial Lending through the Wealth Management disciplined execution of our strategic changes Treas
Slide 7: Growing into the full-service community-oriented commercial bank of choice
Growing into the full-service community-oriented commercial bank of choice Strategic priorities • Growth-oriented strategic actions "As we progress through the fiscal year, we are seeing clear benefits from • Commercial lending delivering the same high-quality consumer experience while continuing to
Slide 8: Deposit base and customer solution expansion
Deposit base and customer solution expansion Treasury Digital Wealth Management Banking Management • Competitive suite of • New deposit account • Bringing together wealth treasury management onboarding platform management, private products • Digital banking banking and insurance to • Experienced tea
Slide 9: Balance sheet repositioning continues to drive improvements
Balance sheet repositioning continues to drive improvements • Net interest margin continues to improve: our net interest margin has continued to expand since the completion of a securities restructuring in October 2023, increasing over 100 basis points from our net interest margin of 1.21% for fisca
Slide 10: Strong capital position supports capital returns via disciplined framework
Strong capital position supports capital returns via disciplined framework 17.6% The Company has paid $0.210 per share 17.1% 16.8% 16.5% 16.2% in cash dividends during the current fiscal year, including two regular quarterly dividends totaling $0.170 and a $0.040 special dividend in Q2 2026. 10.1% 1
Slide 11: Long history of disciplined capital returns
Long history of disciplined capital returns Over $2.06 billion of cumulative capital returned to shareholders since 2010 $2,500.0 $2,033.1 $2,064.4 $1,968.7 $2,000.0 $1,500.0 Stockholder (in m illions ) $1,576.9 $1,592.8 dividends $1,532.7 $11.45/sh $1,000.0 $500.0 Share repurchases $456.2 $471.6 45
Slide 12: Growing our commercial loan portfolio
Growing our commercial loan portfolio • Positive mix-shift into commercial is our primary growth-oriented strategic initiative • Growth driven through investments in technology, people, products, and services • Active in commercial lending markets even when the opportunity is outside of our local fo
Slide 13: Transition to a commercial loan portfolio
Transition to a commercial loan portfolio Fiscal Year Loan Activity Loan Composition $2.3B $1.8B 28% $1.6B 12% $1.3B $0.7B $0.7B 88% September 30, 2021 72% March 31, 2026 2021 2022 2023 2024 2025 2026 YTD * One- to four-family and consumer Commercial One- to four-family and consumer Commercial * For
Slide 14: Using our expertise to serve borrowers where they are
Using our expertise to serve borrowers where they are We offer both commercial and one- to four- family loan products to our customers. We offer commercial lending options and participate in commercial loans with other lenders, both locally and outside our market areas. Commercial loans are generall
Slide 15: Consistent deposit growth
Consistent deposit growth $8.00 $6.76B $6.92B $7.00 $6.59B $6.37B $6.43B $6.21B $6.00 $5.00 (in billions ) $4.00 $3.00 $2.00 $1.00 $– 12/24 3/25 6/25 9/25 12/25 3/26 Checking High Yield Savings Other Savings Money Market Certificates of Deposit 15
Slide 16: Q2 2026 Financial Highlights
Q2 2026 Financial Highlights Net Income • Net interest margin was 2.24%, an increase of five basis points from 2.19% $20.1 million for the quarter ended December 31, 2025 (the "prior quarter"); 2.24% net interest margin • An efficiency ratio of 52.45%, an improvement from 53.66% the prior quarter; C
Slide 17: Financial highlights
Financial highlights (dollars in thousands) At or for the Three Months Ended 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Net income $ 20,148 $ 20,304 $ 18,813 $ 18,382 $ 15,399 Earnings per share 0.16 0.16 0.14 0.14 0.12 Net interest margin 2.24% 2.19% 2.09% 1.98% 1.92% Return on average asse
Slide 18: Condensed Consolidated Income Statement
Financial Highlights Condensed Consolidated Income Statement (dollars in thousands) For the Three Months Ended 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Interest income $ 104,560 $ 105,989 $ 104,044 $ 99,678 $ 98,175 Interest expense 52,294 54,672 55,261 54,220 54,335 Net interest income 52
Slide 19: Condensed Consolidated Balance Sheet
Financial Highlights Condensed Consolidated Balance Sheet (dollars in thousands) At Qtr Avg Yield/Cost for Qtr Ended 3/31/2026 9/30/2025 3/31/2026 12/31/2025 3/31/2026 12/31/2025 ASSETS: Cash and cash equivalents $ 330,925 $ 252,443 $ 271,032 $ 274,154 3.65% 3.96% Securities 809,566 867,216 793,899
Slide 20: Net income, ROE, NIM, EPS, ROA and efficiency ratio
Financial Highlights At or For the Three Months Ended Net Income Return on Average Equity Net Interest Margin $20.3M $20.1M 7.72% 7.74% $18.4M $18.8M 7.05% 7.17% 2.19% 2.24% 1.98% 2.09% $15.4M $15.4M 5.98% 5.96% 1.86% 1.92% 12/24 3/25 6/25 9/25 12/25 3/26 12/24 3/25 6/25 9/25 12/25 3/26 12/24 3/25 6
Slide 21: Non-interest Expense and Operating Expense Ratio
Financial Highlights Non-interest Expense and Operating Expense Ratio (quarterly) $35.0 1.14% 1.23% 1.23% 1.27% 1.24% 1.24% $31.0M $30.5M $30.3M $29.5M $29.6M $30.0 $27.1M $25.0 (in m illions ) $20.0 $15.0 $10.0 $5.0 $— 12/24 3/25 6/25 9/25 12/25 3/26 Salaries and employee benefits Information techn
Slide 22: Efficiency Ratio Trends
Financial Highlights Efficiency Ratio Trends (quarterly) 61% 60% 58% 58% 57% 54% 52% 40% 20% % 12/24 3/25 6/25 9/25 12/25 3/26 Salaries and employee benefits Information technology and related expense Occupancy, net Professional and other services Advertising and promotional Other 22
Slide 23: Balance Sheet Trends
Financial Highlights Balance Sheet Trends Commercial loans / Total loans Loans / Deposits Borrowings / Total assets 128% 29% 124% 125% 123% 121% 23% 28% 118% 22% 21% 26% 20% 24% 19% 21% 17% 21% 12/24 3/25 6/25 9/25 12/25 3/26 12/24 3/25 6/25 9/25 12/25 3/26 12/24 3/25 6/25 9/25 12/25 3/26 23
Slide 24: Loan Portfolio Trends
Financial Highlights Loan Portfolio Trends One- to four-family loans Commercial loans 3.71% 3.73% 5.93% 5.98% 5.93% 5.97% 3.61% 3.65% 3.68% 3.58% 5.64% 5.67% $2.28B $2.32B $2.12B $6.21B $6.12B $6.02B $5.90B $5.81B $5.71B $1.91B $1.65B $1.67B 12/24 3/25 6/25 9/25 12/25 3/26 12/24 3/25 6/25 9/25 12/25
Slide 25: CRE and Construction Loans by Property Type
Financial Highlights CRE and Construction Loans by Property Type as of March 31, 2026 (Unpaid Principal Balance) Office building, 5% • At March 31, 2026, CRE and Other commercial construction loans made 11% up 90% of the commercial loan Hotel, 30% portfolio and 26% of total loans. • Maintaining stro
Slide 26: Non-owner occupied CRE
Financial Highlights Non-owner occupied CRE as of March 31, 2026 (Unpaid Principal Balance) Retail building, 12% • Non-owner occupied CRE loans made up Office building, 4% 65% of the CRE loan portfolio and 17% of total loans at March 31, 2026. Warehouse/ manufacturing, 2% • Hotel: ▪ Weighted average
Slide 27: Owner occupied CRE
Financial Highlights Owner occupied CRE as of March 31, 2026 (Unpaid Principal Balance) Other, 4% Single use building, 18% • Owner occupied CRE loans made up 8% of the CRE loan portfolio and 2% of total loans at March 31, 2026. • Retail building: ▪ Weighted average LTV of 53% Warehouse/ ▪ Weighted a
Slide 28: C&I Loans by Loan Purpose
Financial Highlights C&I Loans by Loan Purpose as of March 31, 2026 (Unpaid Principal Balance) Other, 6% Purchase Working capital, 47% equipment, 13% • C&I loans made up and 3% of total loans at March 31, 2026. • Working capital: Finance/lease $232M ▪ Weighted average DSCR of 4.69x vehicle, 11% Tota
Slide 29: Asset Quality
Financial Highlights Asset Quality • Underwriting standards designed to limit exposure to credit risk • Complete documentation required for all loans • Ongoing monitoring of loan concentrations and credit quality 0.80% 70% 1.80x De bt s e rvice cove rage ratio ("DS CR") Loan-to-value ("LTV") ratio 0
Slide 30: Deposit Portfolio
Financial Highlights Deposit Portfolio Retail non-maturity deposits Commercial non-maturity deposits Certificates of deposit $4.00B 1.25% $0.50B 1.50% $4.00B 5.00% 1.25% $3.20B 1.00% $0.40B $3.20B 4.00% 1.00% $2.40B 0.75% $0.30B $2.40B 3.00% 0.75% $1.60B 0.50% $0.20B $1.60B 2.00% 0.50% $0.80B 0.25%
Slide 31: Calendar Year Dividend and Share Information
Financial Highlights Calendar Year Dividend and Share Information Shares Outstanding $150.0 150,000,000 $125.0 140,000,000 $100.0 130,000,000 (in m illions ) $75.0 120,000,000 $50.0 110,000,000 $25.0 $— 100,000,000 2021 2022 2023 2024 2025 2026 2021 2022 2023 2024 2025 2026 Regular dividends True-up
Slide 32: Interest Rate Risk Sensitivity
Financial Highlights Interest Rate Risk Sensitivity (dollars in thousands) As of March 31, 2026 14.00% 3.50% More than More Than Within One Year to Three Years 3.00% One Year Three Years to Five Years 12.00% Interest-earning assets: 2.50% Loans receivable $ 2,485,766 $ 1,801,992 $ 1,268,471 Rate S e
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