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Sep 30, 2023
Capitol Federal Q4 2023 Earnings Report
Capitol Federal's financial performance was impacted by a strategic securities transaction, resulting in a net loss for the quarter.
Key Takeaways
Capitol Federal Financial, Inc. reported a net loss of $150.5 million for the quarter ended September 30, 2023, primarily due to a strategic securities transaction. Excluding the securities strategy, earnings per share would have been $0.04 for the current quarter.
The company recognized a net loss of $150.5 million, or $(1.13) per share, for the quarter ended September 30, 2023.
Net interest margin decreased to 1.21% for the current quarter.
A provision for credit losses of $963 thousand was recorded for the quarter.
The company repurchased 250,594 shares of common stock at an average price of $4.97 per share during the current quarter.
Forward Guidance
Information technology and related expenses are anticipated to be $3 million lower in fiscal year 2024 as compared to fiscal year 2023 due to a reduction in professional services costs related to the digital transformation. Additionally, income from deposit service fees is anticipated to be approximately $1 million lower in fiscal year 2024 as compared to fiscal year 2023 due to changes in the fee structure of certain deposit products after the digital transformation, which is in line with industry trends.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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