Capitol Federal Financial Files 2024 10-K

TL;DR

CFFN filed its 2024 10-K. All looks standard.

AI Summary

Capitol Federal Financial, Inc. filed its 2024 10-K report on November 27, 2024, detailing its financial performance for the fiscal year ending September 30, 2024. The company, a federally chartered savings institution, operates from Topeka, Kansas, and is listed under SIC code 6035. The filing covers various financial aspects, including assets, liabilities, and income tax expenses.

Why It Matters

This 10-K filing provides a comprehensive overview of Capitol Federal Financial's financial health and operational performance for the fiscal year, which is crucial for investors and stakeholders to assess the company's stability and future prospects.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific risk factors or negative financial indicators.

Key Numbers

• 20240930 — Fiscal Year End (The report covers the financial period ending on this date.)
• 20241127 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• Capitol Federal Financial, Inc. (company) — Filer
• 20240930 (date) — Fiscal Year End
• 20241127 (date) — Filing Date
• 785-235-1341 (phone_number) — Business Phone
• 6035 (industry_code) — Standard Industrial Classification

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share CFFN The NASDAQ Stock Market
• $128.7 million — at September 30, 2024 was approximately $128.7 million. This large average deposit base per br
• $44.5 million — d and paid during fiscal year 2024 were $44.5 million. The Company repurchased 3,280,110 shar
• $19.3 million — ompany repurchased 3,280,110 shares for $19.3 million during fiscal year 2024, which all occu
• $0.085 — the regular quarterly cash dividend of $0.085 per share. 3 Interest Rate Risk Mana
• $135.5 million — ending limit under this restriction was $135.5 million. The Bank has no loans or loan relation
• $113.0 million — largest borrowing relationship totaled $113.0 million at September 30, 2024, all of which was

Filing Documents

• cffn-20240930.htm (10-K) — 4485KB
• cffn-093024xex19.htm (EX-19) — 41KB
• cffn-093024xex21.htm (EX-21) — 13KB
• cffn-093024xex231.htm (EX-23.1) — 2KB
• cffn-093024xex232.htm (EX-23.2) — 2KB
• cffn-093024xex311.htm (EX-31.1) — 10KB
• cffn-093024xex312.htm (EX-31.2) — 10KB
• cffn-093024xex32.htm (EX-32) — 8KB
• cffn-20240930_g1.jpg (GRAPHIC) — 127KB
• 0001490906-24-000035.txt ( ) — 20357KB
• cffn-20240930.xsd (EX-101.SCH) — 71KB
• cffn-20240930_cal.xml (EX-101.CAL) — 181KB
• cffn-20240930_def.xml (EX-101.DEF) — 498KB
• cffn-20240930_lab.xml (EX-101.LAB) — 1003KB
• cffn-20240930_pre.xml (EX-101.PRE) — 833KB
• cffn-20240930_htm.xml (XML) — 4473KB

Item 1. Business

PART I Item 1. Business 2

Risk Factors

Item 1A. Risk Factors 9

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 15

Cybersecurity

Item 1C. Cybersecurity 15

Properties

Item 2. Properties 18

Legal Proceedings

Item 3. Legal Proceedings 18

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 18 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 19

[Reserved]

Item 6. [Reserved] 20

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 53

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 60

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 114

Controls and Procedures

Item 9A. Controls and Procedures 114

Other Information

Item 9B. Other Information 114

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 115

Item 10. Directors, Executive Officers and Corporate Governance

PART III Item 10. Directors, Executive Officers and Corporate Governance 115

Executive Compensation

Item 11. Executive Compensation 115

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 115

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 116

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 116

Item 15. Exhibits and Financial Statement Schedules

PART IV Item 15. Exhibits and Financial Statement Schedules 116

Form 10-K Summary

Item 16. Form 10-K Summary 116 INDEX TO EXHIBITS 117

SIGNATURES

SIGNATURES 119 Private Securities Litigation Reform Act-Safe Harbor Statement Capitol Federal Financial, Inc. (the "Company"), and Capitol Federal Savings Bank ("Capitol Federal Savings" or the "Bank"), may from time to time make written or oral "forward-looking statements," including statements contained in documents filed or furnished by the Company with the Securities and Exchange Commission ("SEC"). These forward-looking statements may be included in this Annual Report on Form 10-K and the exhibits attached to it, in the Company's reports to stockholders, in the Company's press releases, and in other communications by the Company, which are made in good faith pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements about our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, which are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond our control. The words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan" and similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause our future results to differ materially from the beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions expressed in the forward-looking statements: our ability to maintain overhead costs at reasonable levels; our ability to attain a sufficient volume of one- to four-family loans in order to maintain the balance of that portfolio at a level desired by management; our ability to invest funds in wholesale or secondary markets at favorable yields compared to the related funding source; our ability to access cost-effective funding and maintain sufficient liquidity; our ability to extend our commercial banking and trust asset management expertis

Business

Item 1. Business General The Company is a Maryland corporation with its common stock traded on the Global Select tier of the NASDAQ Stock Market. The Bank is a wholly-owned subsidiary of the Company and is a federally chartered and insured savings bank headquartered in Topeka, Kansas. We have been, and intend to continue to be, a community-oriented financial institution offering a variety of financial services to meet the needs of the communities we serve. We attract deposits primarily from the general public and from businesses, and invest those funds primarily in permanent loans secured by first mortgages on owner-occupied, one- to four-family residences and in commercial loans, either secured by real estate or for commercial and industrial purposes. We also participate with other lenders in commercial loans, and have purchased loans primarily secured by mortgages on one- to four-family residences. The Bank also invests in certain investment securities and mortgage-backed securities ("MBS") using funding from deposits and Federal Home Loan Bank of Topeka ("FHLB") borrowings. We offer a variety of deposit accounts having a wide range of interest rates and terms, which generally include savings accounts, money market accounts, interest-bearing and non-interest-bearing checking accounts, and certificates of deposit with terms ranging from 91 days to 120 months. The Bank offers a suite of treasury management services designed to support business customers in managing their financial operations efficiently and securely. Our treasury management solutions include cash flow optimization, fraud prevention tools, and payment services tailored to meet the needs of commercial clients. By leveraging these services, we help businesses streamline their operations, reduce financial risk, and maximize liquidity while helping the Bank gather deposit and fee income. The Company's results of operations are primarily dependent on net interest income, which is the difference

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