NEWS RELEASE FOR IMMEDIATE RELEASE April 24, 2024 ® CAPITOL FEDERAL FINANCIAL, INC. REPORTS SECOND QUARTER FISCAL YEAR 2024 RESULTS Topeka, KS - Capitol 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 March 31, 2024. For best viewing results, please view this release in Portable Document Format (PDF) on our website, https://ir.capfed.com. The highlights for the quarter includ ...

Investors might want to bet on Capitol Federal Financial (CFFN) , as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual inve ...

| --- | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------|----------------------------------------------------------------------------------------|------------| | | Unrealized \nGains (Losses) on AFS Securities | Unrealized \nGains (Losses) on Cash Flow Hedges \n(Dollars in thousands) | Total AOCI | | Beginning balance | (1,142) | 9,842 | 8,700 ...

Capitol Federal Financial (CFFN) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.06 per share. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 66.67%. A quarter ago, it was expected that this holding company for Capitol Federal Savings Bank would post earnings of $0.03 per share when it actually produced earnings of $0.04, delivering a surprise ...

TOPEKA, Kan.--(BUSINESS WIRE)--Capitol Federal Financial, Inc. (NASDAQ: CFFN) (the "Company") announced today that its Board of Directors has declared a quarterly cash dividend of $0.085 per share on outstanding CFFN common stock. The dividend is payable on February 16, 2024 to stockholders of record as of the close of business on February 2, 2024. The Company will release financial results for the quarter ended December 31, 2023 on January 24, 2024 before the market opens. Capitol Federal Financial, Inc ...

TOPEKA, Kan.--(BUSINESS WIRE)--Capitol Federal Financial, Inc. (NASDAQ: CFFN) (the "Company") will have available on its website at https://ir.capfed.com/news-market-data/presentations/default.aspx, at 10:00 a.m. Central time on January 23, 2024, the slide presentation for its annual meeting of stockholders being held at that same time. Capitol Federal Financial, Inc. is the holding company for Capitol Federal Savings Bank (the "Bank"). The Bank has 49 branch locations in Kansas and Missouri, and is one of ...

Form 10-K Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share CFFN The NASDAQ Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒ Indicate by check ...

Financial Position - As of June 30, 2023, the company had $22.5 million of common stock authorized under its existing stock repurchase plan, with approximately $22.47 million worth of shares yet to be purchased[186]. - The total interest-earning assets amounted to $9.91 billion, while total interest-bearing liabilities were $9.21 billion as of June 30, 2023[145]. - The balance of cash and cash equivalents was $329.4 million with an average yield of 4.82% as of June 30, 2023, compared to $49.2 million with an average yield of 1.75% at September 30, 2022[152]. - The company had $1.72 billion in cumulative excess of interest-earning assets over interest-bearing liabilities as of June 30, 2023[145]. - The Bank's CBLR was 9.6% as of June 30, 2023, exceeding the minimum requirement of 9%[160]. Interest Rate Risk - The gap between interest-earning assets and interest-bearing liabilities projected to reprice within one year was $(1.00) billion, or (9.7)% of total assets, as of June 30, 2023, compared to $(803.5) million, or (8.0)% at March 31, 2023[146]. - The cumulative one-year gap in interest rates was (11.6)% as of June 30, 2023, indicating a negative impact on earnings in a rising rate environment[146]. - The Bank's one-year gap is projected to be $(1.19) billion, or (11.6)% of total assets, if interest rates increase by 200 basis points as of June 30, 2023[164]. - The estimated change in the Bank's net interest income for a +200 basis point increase in interest rates is projected to be a decrease of $(282,317) thousand, or (29.65)%, as of June 30, 2023[165]. - The Bank's interest rate risk management program aims to maximize net interest income while managing exposure to changes in market interest rates[163]. Interest Income and Expense - The net interest income projection was lower at June 30, 2023, primarily due to higher interest expense projections on the Bank's liabilities compared to the increase in interest income projections on the Bank's assets[151]. - The company experienced a significant increase in the cost of liabilities, driven by higher balances and rates on certificates of deposit and money market accounts since September 30, 2022[151]. - The total interest-earning assets amount to $9,865,028 thousand with a weighted average yield of 3.43%[168]. - The total interest-bearing liabilities amount to $8,515,322 thousand with a weighted average rate of 2.47%[168]. - Fixed-rate loans receivable total $6,169,564 thousand, with a weighted average yield of 3.35%[168]. Market Value of Portfolio Equity - As of June 30, 2023, the Market Value of Portfolio Equity (MVPE) decreased by $292,679 thousand (30.74%) under a -200 basis point interest rate scenario compared to the base case[154]. - The sensitivity of the Bank's MVPE to interest rate changes is significant, with a larger increase in the market value of assets compared to liabilities in decreasing interest rate scenarios[167]. - The Bank's Market Value of Portfolio Equity (MVPE) at June 30, 2023, showed a negative percentage change compared to September 30, 2022, in all rising interest rate scenarios[174]. - The negative impact on MVPE was slightly lower at June 30, 2023, due to a higher MVPE resulting from an increase in the balance of certificates of deposit and borrowings[174]. - The increase in the loan portfolio balance contributed to the higher MVPE, while long-term rates remained relatively unchanged, leading to muted impacts on the market value of the loan portfolio[174]. Stock Repurchase - The average price paid per share for stock repurchases was not disclosed, but the company may repurchase shares based on market conditions and available liquidity[186].

Financial Performance - Net income for March 2023 was $14,189,000, a decrease from $21,623,000 in March 2022, representing a decline of approximately 34.4%[187]. - For the quarter ended March 31, 2023, the company reported net income of $14,189 thousand, compared to $21,623 thousand for the same period in 2022, reflecting a decrease of 34.3%[216]. - The company reported total non-interest expense of $28,631 thousand for the quarter ended March 31, 2023, compared to $27,960 thousand for the same period in 2022, an increase of 2.4%[216]. - The company experienced a decrease in salaries and employee benefits primarily due to a reduction in incentive compensation[99]. - The company experienced a significant decrease in unrealized losses on AFS securities, with an ending balance of $(71,776) thousand for the six months ended March 31, 2022[239]. Asset and Liability Management - Total assets increased to $10.09 billion as of March 31, 2023, representing a 6.3% increase from $9.93 billion as of December 31, 2022[46]. - Total liabilities increased to $9,013,736 thousand as of March 31, 2023, up from $8,528,398 thousand as of September 30, 2022, reflecting a growth of 5.7%[215]. - Total stockholders' equity as of March 31, 2023, was $1,072,034, a decrease from $1,096,499 as of December 31, 2022[203]. - The Bank's borrowing capacity from the FHLB was limited to 50% of total assets as of March 31, 2023[44]. - Total deposits decreased to $6.14 billion at March 31, 2023, a decline of $50.4 million from September 30, 2022, mainly driven by a $284.5 million decrease in money market account balances[241]. Loan Portfolio - Total loans receivable increased to $7,966,125 thousand as of March 31, 2023, up from $7,471,670 thousand as of September 30, 2022, representing an increase of approximately 6.6%[211]. - The total amount of commercial loans reached $1,181,603 thousand with a weighted average rate of 4.89%[78]. - The total loans reported for commercial real estate were $881,081, with "Pass" loans at $366,794[227]. - Loans receivable, net rose to $7.96 billion, a 9.0% increase from $7.78 billion as of December 31, 2022[46]. - The total amount of non-accrual loans was reported with no loans 90 or more days delinquent accruing interest[83]. Credit Quality - The provision for credit losses was $427 million for the six months ended March 31, 2023, with an ending balance of $19.889 billion in the allowance for credit losses[63]. - The ratio of net charge-offs (NCOs) to average non-performing assets was 0.20% for the current period, compared to (0.35)% for the prior period[116]. - Non-performing assets as a percentage of total assets decreased to 0.06% from 0.08% year-over-year, reflecting improved asset quality[181]. - The provision for credit losses for the current year period was $4.6 million, compared to a release of provision of $6.6 million during the prior year period, reflecting growth in the commercial loan portfolio[161]. - The allowance for credit losses (ACL) increased to $19,889 thousand as of March 31, 2023, from $16,371 thousand as of September 30, 2022, indicating a rise of 21.5%[215]. Income and Expenses - Total interest and dividend income for the quarter was $89.5 million, a decrease of 2.0% from $91.3 million in the prior quarter[96]. - The net interest margin decreased by 24 basis points, from 1.83% for the prior year period to 1.59% for the current year period, primarily due to an increase in the cost of borrowings and deposits[105]. - Total interest expense for the six months ended March 31, 2023, was $93.099 million, an increase of $59.126 million or 174.0% from $33.973 million in the prior year[160]. - The company anticipates continued net interest margin compression due to the current yield curve dynamics and the pace of liability repricing[1]. - The efficiency ratio for the current quarter was 60.86%, compared to 54.27% for the prior quarter, indicating increased costs relative to revenue generation[131]. Dividends and Shareholder Returns - Cash dividends paid totaled $60.53 million for the six months ended March 31, 2023, compared to $52.92 million for the same period in 2022[50]. - The company announced a regular quarterly cash dividend of $0.085 per share, totaling approximately $11.3 million, payable on May 19, 2023[92]. - The company’s total dividends paid year-to-date reached $22,640,000, compared to $110,955,000 in the previous year, indicating a significant decrease in total dividends paid[196]. - The average number of basic and diluted shares outstanding decreased by 4.4% to 133,150 as of March 31, 2023[46]. - There remains $22.5 million authorized under the existing stock repurchase plan for additional purchases of the company's common stock[124]. Strategic Initiatives - Management anticipates an increase in information technology and related expenses in fiscal year 2023 due to the ongoing digital transformation initiative[75]. - Management is implementing a new core processing system expected to enhance product offerings and customer experience by September 2023[75]. - The company plans to implement a new core processing system by September 2023 as part of its digital transformation strategy[165]. - The average balance of cash and cash equivalents related to the leverage strategy was $935.1 million for the quarter ended March 31, 2023, down from $1.79 billion in the previous quarter[5]. - The company experienced an increase in interest expense on borrowings due to a higher average balance and weighted average rate, alongside a reduction in deposits[149].

As of February 2, 2023, there were 136,144,725 shares of Capitol Federal Financial, Inc. common stock outstanding. ________________________ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a l ...