Central Plains Bancshares Files 10-K/A Amendment

TL;DR

CPBI filed an amendment to its 2024 10-K. Check for updates.

AI Summary

Central Plains Bancshares, Inc. filed an amendment (10-K/A) to its annual report for the fiscal year ended March 31, 2024. The filing, dated July 29, 2024, is an amendment to their previous filing and pertains to their operations as a federally chartered savings institution. The company is headquartered in Grand Island, Nebraska.

Why It Matters

This filing is an amendment to the company's annual report, indicating potential corrections or additions to previously disclosed information for the fiscal year ending March 31, 2024.

Risk Assessment

Risk Level: low — This is a routine amendment to an annual report, not indicating new material risks.

Key Players & Entities

• Central Plains Bancshares, Inc. (company) — Registrant
• 001-41844 (company) — Commission File Number
• Grand Island, NE (location) — Principal Executive Offices
• March 31, 2024 (date) — Fiscal year end
• July 29, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 share CPBI NASDAQ Capital Market
• $300 million — sident and Chief Executive Officer of a $300 million community bank. Mr. Wiemers is also a f
• $100,000 — icer) whose total compensation exceeded $100,000 for the year ended March 31, 2024. Thes
• $238,350 — n will receive an annual base salary of $238,350. The board of directors will review Mr.
• $30,000 — . Kunzman and Haecker and Ms. Harris is $30,000, $6,300 and $14,700, respectively. If a
• $6,300 — and Haecker and Ms. Harris is $30,000, $6,300 and $14,700, respectively. If an execut
• $14,700 — r and Ms. Harris is $30,000, $6,300 and $14,700, respectively. If an executive terminat
• $23,000 — e salary deferral contribution limit is $23,000, provided, however, that a participant
• $7,500 — ver age 50 may contribute an additional $7,500 to the 401(k) Plan for a total of $30,5
• $30,500 — 7,500 to the 401(k) Plan for a total of $30,500. In addition to salary deferral contrib
• $99,000 — h the 401(k) Plan totaled approximately $99,000 for the year ended March 31, 2024. De
• $600 — of the participant's compensation up to $600 and 2.5% of the participant's compensat
• $600, m — of the participant's compensation over $600, multiplied by the participant's years of

Filing Documents

• cpbi-20240331.htm (10-K/A) — 312KB
• cpbi-ex31_1.htm (EX-31.1) — 15KB
• cpbi-ex31_2.htm (EX-31.2) — 15KB
• 0000950170-24-087155.txt ( ) — 568KB
• cpbi-20240331.xsd (EX-101.SCH) — 50KB
• cpbi-20240331_htm.xml (XML) — 9KB

Executive Compensation

Executive Compensation 4 Item 12.

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

Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters 8 Item 13. Certain Relationships and Related Transactions, and Director Independence 9 Item 14. Principal Accounting Fees and Services 9 Part IV 11 Item 15. Exhibits and Financial Statement Schedules 11 Item 16. Form 10-K Summary 11 i Explana tory Note Central Plains Bancshares, Inc. (the "Company") is filing this Amendment No. 1 on Form 10-K/A to its Report on Form 10-K for the fiscal year ended March 31, 2024, as filed with the Securities and Exchange Commission on June 21, 2024. In accordance with General Instruction G(3), the Company is now filing this amendment to include in the Form 10-K the information required to be filed pursuant to Part III of Form 10-K. 1 PAR T III It em 10. Directors, Executive Officers and Corporate Governance. Our Board of Directors is comprised of seven members. The following sets forth certain information regarding our Board of Directors and executive officers who are not directors. Age information is as of March 31, 2024, and term as a director includes service with Home Federal Savings and Loan Association of Grand Island ("Home Federal Savings"). With respect to directors, the biographies contain information regarding the person's business experience and the experiences, qualifications, attributes or skills that caused the Board of Directors to determine that the person should serve as a director. Each director of Central Plains Bancshares, Inc. is also a director of Home Federal Savings. Directors Russell R. Rerucha was the Chief Executive Officer, President and Chairman of the Board of Green Line Equipment, Inc., a group of John Deere dealerships, from 2001 until it merged with two other dealerships in 2020 to form AKRS Equipment Solutions, Inc. Mr. Rerucha has served as the Chairman of the Board of AKRS Equipment Solutions since its formation. Mr. Rerucha's experience gives him extensiv

Executive Compensation

Executive Compensation The following table sets forth for the years ended March 31, 2024 and 2023, information with respect to our principal executive officer and the two most highly compensated executive officers (other than the principal executive officer) whose total compensation exceeded $100,000 for the year ended March 31, 2024. These individuals are sometimes referred to as the "named executive officers." Name and Principal Position Year Salary ($) Bonus ($) Non-Equity Incentive Plan Compensation ($) All Other Compensation (1)($) Total ($) Steven D. Kunzman 2024 230,056 1,930 122,991 30,050 385,027 Chairman of the Board of Directors, 2023 221,885 1,982 81,250 22,693 327,810 President and Chief Executive Officer Kurt A. Haecker 2024 178,319 1,930 95,660 6,845 282,754 Executive Vice President and 2023 171,602 1,982 63,800 13,240 250,624 Chief Lending Officer Lisa A. Harris 2024 146,141 2,630 77,439 5,400 231,610 Executive Vice President and 2023 141,131 3,282 52,000 3,769 200,182 Chief Operating Officer (1) The compensation represented by the amounts for 2024 set forth in the "All Other Compensation" column for the named executive officers is as follows: Name Automobile Allowance Employee Stock Director Fees Total All Other Compensation Steven D. Kunzman $ 10,321 $ 8,729 $ 11,000 $ 30,050 Kurt A. Haecker — $ 6,845 — $ 6,845 Lisa A. Harris — $ 5,400 — $ 5,400 4 Employment Agreement. Home Federal Savings has entered into an employment agreement with Steven D. Kunzman, Chairman of the Board of Directors, President and Chief Executive Officer. The employment agreement has an initial term of three years. Commencing on the first anniversary of the date of the employment agreement and continuing each anniversary thereafter, the term of the agreement will extend for an additional year, so

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