Capitol Federal Financial Files Q1 2025 10-Q

TL;DR

CFFN dropped its Q1 2025 10-Q. Check financials.

AI Summary

Capitol Federal Financial, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the first quarter of their fiscal year, which began on October 1, 2024. Key financial data and operational details for this period are presented.

Why It Matters

This filing provides investors with an update on Capitol Federal Financial's financial performance and position as of the end of the first quarter of fiscal year 2025.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.

Key Numbers

• 2024-12-31 — Period End Date (The filing covers financial data up to this date.)
• 2024-10-01 — Period Start Date (The filing covers financial data from this date.)

Key Players & Entities

• Capitol Federal Financial, Inc. (company) — Filer of the 10-Q
• 2024-12-31 (date) — Period end date for the 10-Q
• 2024-10-01 (date) — Start date of the reporting period

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share CFFN The NASDAQ Stock Market

Filing Documents

• cffn-20241231.htm (10-Q) — 3865KB
• cffn-123124xex311.htm (EX-31.1) — 10KB
• cffn-123124xex312.htm (EX-31.2) — 10KB
• cffn-123124xex32.htm (EX-32) — 9KB
• 0001490906-25-000009.txt ( ) — 14258KB
• cffn-20241231.xsd (EX-101.SCH) — 31KB
• cffn-20241231_cal.xml (EX-101.CAL) — 96KB
• cffn-20241231_def.xml (EX-101.DEF) — 300KB
• cffn-20241231_lab.xml (EX-101.LAB) — 467KB
• cffn-20241231_pre.xml (EX-101.PRE) — 436KB
• cffn-20241231_htm.xml (XML) — 3545KB

- FINANCIAL INFORMATION Page Number

PART I - FINANCIAL INFORMATION Page Number

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Consolidated Balance Sheets at December 31, 2024 and September 30, 2024 3 Consolidated Statements of Income for the three months ended December 31, 2024 and 2023 4 Consolidated Statements of Comprehensive Income for the three months ended December 31, 2024 and 2023 5 Consolidated Statements of Stockholders' Equity for the three months ended December 31, 2024 and 2023 6 Consolidated Statements of Cash Flows for the three months ended December 31, 2024 and 2023 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 9

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Financial Condition - Loans Receivable 37 Financial Condition - Asset Quality 42 Financial Condition - Liabilities 48 Financial Condition - Stockholders' Equity 52 Operating Results 53 Comparison of Operating Results for the three months ended December 31, 2024 and September 30, 2024 57 Comparison of Operating Results for the three months ended December 31, 2024 and 2023 59

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 65

Controls and Procedures

Item 4. Controls and Procedures 69

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 70

Risk Factors

Item 1A. Risk Factors 70

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 70

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 71

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 71

Other Information

Item 5. Other Information 71

Exhibits

Item 6. Exhibits 71 INDEX TO EXHIBITS 72

-- FINANCIAL INFORMATION

PART I -- FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CAPITOL FEDERAL FINANCIAL, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollars in thousands, except per share amounts) December 31, September 30, 2024 2024 ASSETS: Cash and cash equivalents (includes interest-earning deposits of $ 140,287 and $ 192,138 ) $ 170,324 $ 217,307 Available-for-sale ("AFS") securities, at estimated fair value (amortized cost of $ 850,570 and $ 829,852 ) 861,501 856,266 Loans receivable, net (allowance for credit losses ("ACL") of $ 24,997 and $ 23,035 ) 7,953,556 7,907,338 Federal Home Loan Bank Topeka ("FHLB") stock, at cost 100,364 101,175 Premises and equipment, net 90,326 91,463 Income taxes receivable, net 843 359 Deferred income tax assets, net 24,420 21,978 Other assets 336,833 331,722 TOTAL ASSETS $ 9,538,167 $ 9,527,608 LIABILITIES: Deposits $ 6,206,117 $ 6,129,982 Borrowings 2,163,775 2,179,564 Advances by borrowers 26,088 61,801 Other liabilities 115,248 123,991 Total liabilities 8,511,228 8,495,338 STOCKHOLDERS' EQUITY: Preferred stock, $ .01 par value; 100,000,000 shares authorized, no shares issued or outstanding — — Common stock, $ .01 par value; 1,400,000,000 shares authorized, 132,774,365 and 132,735,565 shares issued and outstanding as of December 31, 2024 and September 30, 2024, respectively 1,328 1,327 Additional paid-in capital 1,146,802 1,146,851 Unearned compensation, Employee Stock Ownership Plan ("ESOP") ( 26,019 ) ( 26,431 ) Accumulated deficit ( 106,734 ) ( 111,104 ) Accumulated other comprehensive income ("AOCI"), net of tax 11,562 21,627 Total stockholders' equity 1,026,939 1,032,270 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 9,538,167 $ 9,527,608 See accompanying notes to consolidated financial statements. 3 CAPITOL FEDERAL FINANCIAL, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (Dollars in thousands, except per share amounts) For the Three Months Ended December 31, 2024 2023 INTEREST AN

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation - The consolidated financial statements include the accounts of Capitol Federal Financial, Inc. (the "Company") and its wholly-owned subsidiary, Capitol Federal Savings Bank (the "Bank"). The Bank has two wholly-owned subsidiaries, Capitol Funds, Inc. and Capital City Investments, Inc. Capitol Funds, Inc. has a wholly-owned subsidiary, Capitol Federal Mortgage Reinsurance Company. Capital City Investments, Inc. is a real estate and investment holding company. All intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. These statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2024, filed with the Securities and Exchange Commission ("SEC"). Interim results are not necessarily indicative of results for a full year. Net Presentation of Cash Flows Related to Borrowings - At times, the Bank enters into FHLB advances with contractual maturities of 90 days or less. Cash flows related to these advances are reported on a net basis in the consolidated statements of cash flows. Recent Accounting Pronouncements - In October 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-06, Disclosure Improvements - Codification Amendments in Respon

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View this 10-Q filing on SEC EDGAR