CFSB BANCORP, INC. ANNOUNCES FISCAL SECOND QUARTER AND YEAR-TO-DATE 2025 FINANCIAL RESULTS

Core Points - CFSB Bancorp, Inc. reported a net loss of $162,000 for the three months ended December 31, 2024, compared to a net loss of $210,000 for the same period in 2023, indicating a slight improvement in financial performance [1][5][28] - The company experienced a net interest income increase of $45,000, or 2.7%, for the quarter ended December 31, 2024, driven by higher average yields on interest-earning assets [4][5] - The total assets of the company decreased by $681,000, or 0.2%, to $362.8 million as of December 31, 2024, primarily due to decreases in cash and total loans [18][20] Financial Performance - For the six months ended December 31, 2024, the company recorded a net loss of $168,000, compared to a net loss of $87,000 for the same period in 2023 [2][12] - The net interest margin decreased by 17 basis points to 1.95% for the six months ended December 31, 2024, from 2.12% for the same period in 2023 [12][17] - Interest income increased by $935,000, or 16.7%, for the six months ended December 31, 2024, due to higher yields on cash and short-term investments [12][36] Asset Quality - The allowance for credit losses on loans as a percentage of total loans was 0.83% as of December 31, 2024, down from 0.93% a year earlier, reflecting improved asset quality [6][19] - The company recorded reversals of the provision for credit losses of $79,000 for the three months ended December 31, 2024, indicating a positive trend in credit quality [6][13] Non-Interest Income and Expenses - Non-interest income decreased by $5,000, or 2.9%, to $165,000 for the three months ended December 31, 2024, primarily due to a decrease in customer service fees [7][15] - Non-interest expenses increased by $173,000, or 9.2%, to $2.0 million for the three months ended December 31, 2024, mainly due to higher salaries and employee benefits [8][16] Balance Sheet - Total liabilities decreased by $302,000, or 0.5%, to $287.1 million as of December 31, 2024, with deposits decreasing by $483,000 [20][21] - Total stockholders' equity decreased by $379,000 to $75.7 million at December 31, 2024, primarily due to the net loss for the period [21][22]