Earnings at Capitol Federal Financial dipped about 2 percent in the second quarter compared with a year ago, the Topeka-based lender said Wednesday.
Profits totaled $19.6 million in April, May and June, down from $19.98 million a year ago. Earnings were 14 cents a share for both quarters.
Capitol Federal stock rose 4 cents a share, closing at $11.94.
Capitol Federal again benefited from its “daily leverage strategy,” which increased the recent quarter’s profit by $699,000. The company’s daily leverage strategy benefits from the difference Cap Fed pays to borrow money from one federal window and the interest it can earn at another. Cap Fed explained the strategy in a quarterly earnings report last year.
Assets at the end of June totaled $9.1 billion, including $6.5 billion in loans. At less than $10 billion in assets, Capitol Federal is exempt from federally ordered financial stress tests that institutions with at least $10 billion in assets must perform.