Capitol Federal Savings Bank H1 Profit Falls

(RTTNews) - Capitol Federal Savings Bank (CFFN), a federally chartered and insured savings bank, on Wednesday reported a fall in net income for the six-month period to March 31, mainly due to a provision for credit losses of $4.6 million for the current year, compared with a release of provision of $6.6 million for the prior-year period.

For the first-half, the lender posted a net income of $30.4 million or $0.23 per share, compared with $43.8 million or $0.32 per share of the prior year period.

Pre-tax income was at $37.267 million, lesser than $55.610 million of previous year.

Net interest income decreased to $87.787 million from $92.715 million, a year ago.

Total non-interest income stood at $10.435 million, versus $10.922 million of last year period.

Noninterest expenses rose to $56.404 million from $54.654 million of 2022.

Total interest expense was at $93.099 million, compared with $33.973 million of last year period.