Capitol Federal Financial, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2015; Reports Net Charge-Offs for the First Quarter Ended December 31, 2015; Provides Tax Rate Guidance for the Fiscal Year 2016
January 28, 2016 at 09:00 am EST
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Capitol Federal Financial, Inc. announced unaudited consolidated earnings results for the first quarter ended December 31, 2015. For the quarter, the company reported total interest and dividend income of $74,359,000 against $74,900,000 a year ago. Net interest income was $47,982,000 against $48,036,000 a year ago. Income before income tax expense was $29,958,000 against $29,978,000 a year ago. Net income was $20,718,000 against $20,472,000 a year ago. Diluted net earnings per share were $0.16 against $0.15 a year ago. Net income available to common stockholders was $20,691,000 against $20,430,000 a year ago. Return on average assets was 0.74% against 0.73% a year ago and return on average equity was 5.86% against 5.50% a year ago. Net income increased primarily due to a decrease in non-interest expense, along with the benefit of a lower effective income tax rate in the current quarter.
For the quarter, the company reported net charge-offs of $242,000 against $103,000 a year ago.
The company anticipates the effective tax rate for fiscal year 2016 will be approximately 32%, based on fiscal year 2016 estimates as of December 31, 2015.
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. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2015; Reports Net Charge-Offs for the First Quarter Ended December 31, 2015; Provides Tax Rate Guidance for the Fiscal Year 2016