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Mar 31, 2020
Capitol Federal Q2 2020 Earnings Report
Reported a decrease in net income due to a significant provision for credit losses related to the COVID-19 pandemic.
Key Takeaways
Capitol Federal Financial, Inc. reported net income of $4.3 million, or $0.03 per share, for the quarter ended March 31, 2020. The results were significantly impacted by a $22.1 million provision for credit losses due to the deterioration of economic conditions from the COVID-19 pandemic. The net interest margin increased slightly to 2.19%.
Net income was $4.3 million.
Provision for credit losses was $22.1 million, reflecting the impact of the COVID-19 pandemic.
Basic and diluted earnings per share were $0.03.
Net interest margin was 2.19%.
Capitol Federal
Capitol Federal
Forward Guidance
Management anticipates being able to manage the economic risks and uncertainties associated with the COVID-19 pandemic and remain well capitalized with sufficient liquidity to serve our customers.