Capitol Federal Financial reports $66 million profit for fiscal year

More News

Capitol Federal Financial earned $66.3 million in fiscal 2009, a 30 percent increase from the $51 million profit in 2008.

The Topeka-based organization attributed the $15.3 million improvement to the lower interest rate environment.

Cap Fed reported a $40.5 million decrease in interest expenses, which helped offset an $11.6 million increase in other expenses, a $9.7 million increase in income tax expenses and a $4.3 million increase in the provision for loan losses.

In 2009, Cap Fed said, it experienced increases in loan delinquencies, non-performing loans, net loan charge-offs and losses on foreclosed property. Because of conditions in the housing market, Cap Fed’s provision for loan losses stands at $6.4 million, compared with $2.1 million in the 2008 fiscal year.

Cap Fed also announced a special year-end cash dividend of 29 cents per share, payable Dec. 4.

For the fiscal fourth quarter, Cap Fed reported net income of $16.8 million.

Cap Fed shares closed Monday at $30.38, up 71 cents.

| The Star

Posted on Mon, Nov. 09, 2009 10:15 PM

Buzz Up

Comment (0)

Join the discussion

Share your observations and experiences about news. Lively, open, civil debate is the goal. Please refrain from personal attacks or comments that are racist, vulgar or otherwise inappropriate. If you see an inappropriate comment, please click the "Report as abuse" link.