Central Plains Bancshares Q3 2024 Update

TL;DR

**CPBI Q3 2024: Financials out, showing portfolio performance and equity plan details.**

AI Summary

Central Plains Bancshares, Inc. filed its 10-Q for the period ending December 31, 2024. The filing details financial performance and operational updates for the quarter. Key segments include Commercial Non-Real Estate and Consumer Portfolios. The company also reported on fair value measurements and equity incentive plans.

Why It Matters

This filing provides insight into the financial health and operational performance of Central Plains Bancshares, Inc. during the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: medium — The filing contains detailed financial information and disclosures that require careful analysis to fully assess the company's risk profile.

Key Numbers

• 2024-12-31 — Period End Date (The financial information in this report pertains to this date.)
• 2025-02-11 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Central Plains Bancshares, Inc. (company) — Filer of the 10-Q
• 2024-12-31 (date) — Period end date for the 10-Q
• 2025-02-11 (date) — Filing date of the 10-Q
• Grand Island, NE (location) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.01 — t had 4,242,105 shares of common stock, $0.01 par value per share, outstanding. Tab

Filing Documents

• cpbi-20241231.htm (10-Q) — 5073KB
• cpbi-ex31_1.htm (EX-31.1) — 16KB
• cpbi-ex31_2.htm (EX-31.2) — 16KB
• cpbi-ex32_1.htm (EX-32.1) — 9KB
• cpbi-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-25-017946.txt ( ) — 21300KB
• cpbi-20241231.xsd (EX-101.SCH) — 1293KB
• cpbi-20241231_htm.xml (XML) — 6533KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 37 PART II. OTHER INFORMATION 38 Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 39

Signatures

Signatures i Table of Contents Explanatory Note Central Plains Bancshares, Inc. (the "Company") was formed to serve as the holding company for Home Federal Savings and Loan Association of Grand Island (the "Association"), upon conversion into the stock form of organization, which was completed on October 19, 2023. Accordingly, the unaudited financial statements, as well as other financial information at or prior to October 19, 2023, contained in this Quarterly Report on Form 10-Q relate solely to the consolidated financial results of Home Federal Savings and Loan Association of Grand Island and Subsidiary. See also Central Plains Bancshares, Inc.'s Annual Report on Form 10-K for the year ended March 31, 2024. ii Table of Contents

—FIN ANCIAL INFORMATION

PART I—FIN ANCIAL INFORMATION Ite m 1. Financial Statements. CENTRAL PLAINS BANCHSARES, INC. CONSOLIDATED STATEMENTS OF FINAN CIAL CONDITION December 31, 2024 (unaudited) March 31, 2024 (Dollars in thousands) Assets: Cash and due from banks $ 6,212 $ 6,291 Interest-bearing deposits in other banks 426 5,163 Total cash and cash equivalents 6,638 11,454 Investment securities - available for sale 57,034 60,356 Investment securities - held to maturity 256 307 Loans, net of unearned income 404,912 380,249 Allowance for credit losses on loans ( 5,915 ) ( 5,860 ) Loans, net 398,997 374,389 Accrued interest receivable 2,859 2,249 Federal Home Loan Bank (FHLB) stock - at cost 612 584 Premises and equipment, net 10,276 5,867 Deferred income taxes 3,297 3,344 Mortgage servicing rights 381 403 Other assets 3,944 4,325 Total assets $ 484,294 $ 463,278 Liabilities: Deposits: Non-interest-bearing deposits $ 67,813 $ 66,891 Interest-bearing Demand and NOW checking 129,177 127,077 Money Market 29,403 24,287 Savings 43,828 43,461 Time deposits over $ 250,000 31,270 34,381 Other time deposits 92,857 79,048 Total deposits 394,348 375,145 Pension liability 2,125 2,255 Advances from borrowers for taxes and insurance 1,503 1,806 Accrued interest payable 1,666 1,893 Accounts payable, accrued expenses and other liabilities 3,386 3,902 Total liabilities 403,028 385,001 Stockholders' equity: Common Stock ($ 0.01 par value, 10,000,000 shares authorized, 4,170,995 shares issued and outstanding at December 31, 2024 and 4,130,815 shares issued and outstanding at March 31, 2024) 41 41 Additional paid-in capital 39,269 39,318 Retained earnings 49,893 47,130 Unallocated common shares held by Employee Stock Ownership Plan (ESOP) ( 3,040 ) ( 3,139 ) Accumulated other comprehen

View Full Filing

View this 10-Q filing on SEC EDGAR