Capitol Federal Financial, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2017; Reports Net Loan Charge-Offs for the First Quarter Ended December 31, 2017
January 29, 2018 at 06:30 pm IST
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Capitol Federal Financial, Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2017. For the quarter, the company reported total interest and dividend income of $80,644,000 compared to $75,322,000 a year ago. Net interest income was $49,374,000 compared to $47,306,000 a year ago. Income before income tax expense was $32,696,000 compared to $30,977,000 a year ago. Net income was $31,836,000 compared to $20,578,000 a year ago. Net income available to common stockholders was $31,823,000 or $0.24 per basic and diluted share compared to $20,565,000 or $0.15 per basic and diluted share a year ago. Return on average assets (annualized) was 1.15% compared to 0.73% a year ago. Return on average equity (annualized) was 9.33% compared to 5.91% a year ago. The increase in net income was due primarily to a decrease in income tax expense resulting from the enactment of the Tax Act on December 22, 2017, the impact of which was an increase in basic and diluted earnings per share of $0.08 for the current quarter.
For the quarter, the company reported net loan charge-offs of $28,000 compared to $88,000 in the prior quarter.
Capitol Federal Financial, Inc. is a unitary savings and loan holding company. The Company provides a full range of retail banking services through its subsidiary, Capitol Federal Savings Bank (the Bank), a federal savings bank, which has 46 traditional and five in-store banking offices serving primarily the metropolitan areas of Topeka, Wichita, Lawrence, Manhattan, Emporia and Salina, Kansas and portions of the Kansas City metropolitan area. The Bank attracts deposits primarily from the general public and from businesses and invests those funds primarily in permanent loans secured by first mortgages on owner-occupied, one-to four-family residences and in commercial loans. It offers an array of retail and business deposit products and services. These products include checking, savings, money market, certificates of deposit, and retirement accounts. The Bankâs deposit services are provided through its network of traditional branches and retail in-store locations, its call center.
Capitol Federal Financial, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2017; Reports Net Loan Charge-Offs for the First Quarter Ended December 31, 2017