Capitol Federal Financial : Q2 2026 Quarterly Investor Presentation

Published: 2026-04-29 09:38:20 ET CFFN

Published on 04/29/2026 at 09:38 am EDT

April 2026

QUARTERLY INVESTOR PRESENTATION

For over 130 years, Capitol Federal® has been a leader in financial stability and trust in the communities we serve.

We will continue the tradition we have held since 1893 as a community-oriented financial institution, offering a variety of financial services to meet the needs of the communities we serve, currently through 44 traditional and two in-store branches.

Corporate Offices

Ticker

Market Capitalization

Commercial

Business Deposit Accounts

Business and Corporate Cards

Treasury Management

Commercial and Business Loans

Wealth Management Insurance

Consumer

Deposit Accounts Mortgages and Loans Digital Banking Private Banking Trust Services

Wealth Management Insurance

Assets

Loans

Deposits

Our leadership team combines deep industry expertise with a proven track record of operational excellence. We have architected the current strategic plan and possess the unique institutional knowledge required to execute it seamlessly. No other team is better equipped to navigate the complexities of our market and deliver on our long-term value creation goals.

Executive leadership

The right team to execute

Experienced board

Appropriate skills to oversee strategy

John B. Dicus CEO

Natalie Haag General Counsel

Kent Townsend CFO & Treasurer

Tony Barry Chief Corporate Services Officer

Rick Jackson CLO

Billy Skrobacz Jr.

Chief Retail Operations Officer

✓

Executive

leadership

Risk /

Operations

✓

Member board

✓

Industry

knowledge

Human capital

management

✓

88%

Independent

✓

Technology /

Data security

Marketing /

Public relations

✓

Small business /

Entrepreneurship

✓

Financial

Compliance /

Regulatory

✓

Community engagement

Uniquely focused on delivering longterm, sustainable stockholder value while maintaining a strong capital position

We strive to enhance stockholder value while upholding sound asset quality and a strong capital position.

Strategic Actions

Digital Banking

Commercial Lending

Deliver long-term

value to stockholders through the disciplined execution of our strategic changes

Wealth Management

Treasury Management

Stockholder Value

"As we progress through the fiscal year, we are seeing clear benefits from delivering the same high-quality consumer experience while continuing to scale our commercial capabilities. Our technology and product investments are resonating with commercial clients today, with expanded enhancements for trust and wealth customers arriving this summer.

"Our strategic initiatives have improved our financial results and strengthened our capital position. This has directly benefited our stockholders by enabling the payment of dividends, including a special dividend paid in January 2026 in addition to quarterly dividends, and repurchases of our stock. We expect that these repurchases will continue as market opportunities present themselves."

- John B. Dicus

Chairman and CEO

Strategic priorities

Commercial lending

Treasury management

Digital banking

Private banking

Wealth management

Commercial & personal insurance

Treasury Management

Competitive suite of treasury management products

Experienced team of treasury management officers

Focus area for our sales teams to diversify funding sources and increase fee revenue tied to depository accounts

Digital Banking

New deposit account onboarding platform

Digital banking enhancements for debit cardholders

Fintech plug-in technologies to integrate into our digital banking experience

Wealth Management

Bringing together wealth management, private banking and insurance to provide a comprehensive suite of products and services

Private banking line of business, a gateway to driving off-balance sheet revenue

Net interest margin continues to improve: our net interest margin has continued to expand since the completion of a securities restructuring in October 2023, increasing over 100 basis points from our net interest margin of 1.21% for fiscal year 2023 to 2.24% for the quarter ended March 31, 2026.

Net interest margin (quarterly)

2.09%

1.80%

1.21%

2.24%

9/23 9/24 9/25 3/26

17.1%

16.8%

16.5%

16.2%

10.1%

10.2%

10.1%

10.0%

The Company has paid $0.210 per share in cash dividends during the current fiscal year, including two regular quarterly dividends totaling $0.170 and a $0.040 special dividend in Q2 2026.

The Company repurchased 4,532,114 shares of common stock for $31.7 million at an average price of $7.00 during the six months ended March 31, 2026.

CFFN had $10.7 million in cash on deposit at the Bank at March 31, 2026. The Bank has distributed $53.0 million from the Bank to the Company during the current year period.

17.6%

3/25 6/25 9/25 12/25 3/26

Over $2.06 billion of cumulative capital returned to shareholders since 2010

$2,500.0

$2,000.0

$1,500.0

$1,000.0

$500.0

$1,968.7

2024

$2,033.1

2025

$2,064.4

2026 YTD

Stockholder dividends

$11.45/sh

Share repurchases 45,142,681 shares Avg. Price of $10.45

For the remainder of fiscal year 2026, it is the intention of the Company's Board of Directors to pay out a regular quarterly cash dividend of $0.085 per share, totaling $0.34 per share for the year.

Positive mix-shift into commercial is our primary growth-oriented strategic initiative

Growth driven through investments in technology, people, products, and services

Active in commercial lending markets even when the opportunity is outside of our local footprint

$2.3B

$2.IB

$1.5B

$1.3B

$1.0B

$0.8B

2021

2022

2023

2024

2025 2026 YTD *

* For the six months ended March 31, 2026

Fiscal Year Loan Activity

Loan Composition

$2.3B

$1.8B

$1.6B

$1.3B

28%

12%

$0.7B

88%

September 30, 2021

72%

March 31, 2026

2021 2022 2023 2024 2025 2026 YTD *

One- to four-family and cons ume r Comme rcial

One- to four-family and cons umer Comme rcial

* For the six months ended March 31, 2026

We offer both commercial and one- to four- family loan products to our customers. We offer commercial lending options and participate in commercial loans with other lenders, both locally and outside our market areas. Commercial loans are generally made to companies domiciled in Kansas and Missouri and include properties located throughout the country.

Commercial Real Estate ("CRE") & Commercial Construction Loans

At March 31, 2026, the CRE and Commercial Construction loan portfolio included properties located in Kansas, Missouri, Texas, and 22 other states.

18%

10%

41%

Kansas

Missouri Texas New York Arizona California Other

15%

Commercial & Industrial Loans

At March 31, 2026, the Commercial & Industrial loan portfolio included loans made to borrowers in Kansas, Arizona, Missouri, and 18 other states.

CComm

Kansas

Arizona Missouri Ohio Utah Other

74%

$6.21B

$6.37B

$6.43B

$6.59B

$6.76B

$6.92B

$8.00

$7.00

$6.00

$5.00

$4.00

$3.00

$2.00

$1.00

12/24

3/25

6/25

9/25

12/25

3/26

Checking High Yield Savings Other Savings Money Market Certificates ofDeposit

Net Income

$20.1 million

2.24% net interest margin

Capital Ratios

9.51% CBLR

Deposits

$6.92 billion

Loans

$8.11 billion

ACL / Loans

0.33%

Expense Management

52.45% efficiency ratio 1.24% operating expense ratio

Net interest margin was 2.24%, an increase of five basis points from 2.19% for the quarter ended December 31, 2025 (the "prior quarter");

An efficiency ratio of 52.45%, an improvement from 53.66% the prior quarter;

An operating expense ratio of 1.24%, unchanged from the prior quarter;

Paid dividends of $15.9 million, or $0.125 per share, including a $0.040 per share special dividend;

Repurchased 2,155,481 shares of common stock at an average price of $7.16 per share;

Tangible book value per share of $7.96 at March 31, 2026.

Commercial loan growth of $201.8 million, or 19.1% annualized, since September 30, 2025;

Commercial deposit growth of $39.9 million, or 15.7% annualized, since September 30, 2025;

Distributed $53.0 million from the Bank to the Company during the current year period; and

Announced a cash dividend of $0.085 per share, payable on May 15 to stockholders of record as of the close of business on May 1, 2026.

(dollars in thousands)

At or for the Three Months Ended

3/31/2026

12/31/2025

9/30/2025

6/30/2025

3/31/2025

Net income

$ 20,148

$ 20,304

$ 18,813

$ 18,382

$ 15,399

Earnings per share

0.16

0.14

0.12

Net interest margin

2.24%

2.19%

2.09%

1.98%

1.92%

Return on average assets

0.82

0.83

0.77

0.76

0.64

Return on average equity

7.74

7.72

7.17

7.05

5.96

Commercial loans / Total loans

28.48

27.79

26.01

23.77

21.13

Deposits / Total assets

70.45

69.12

67.41

66.35

65.57

Borrowings / Total assets

17.37

18.71

19.95

21.37

22.05

Condensed Consolidated Income Statement

(dollars in thousands)

For the Three Months Ended

3/31/2026

12/31/2025

9/30/2025

6/30/2025

3/31/2025

Interest income

104,560

105,989

104,044

99,678

98,175

Interest expense

52,294

54,672

55,261

54,220

54,335

Net interest income

52,266

51,317

48,783

45,458

43,840

Provision for credit losses

2,372

1,106

519

(451)

Non-interest income

5,459

5,479

5,791

5,288

4,953

Non-interest expense

30,274

30,476

31,018

29,564

29,540

Income tax expense

4,931

4,910

4,224

3,251

3,854

Net income

$ 20,148

$ 20,304

$ 18,813

$ 18,382

$ 15,399

Efficiency ratio

52.45%

53.66%

56.84%

58.26%

60.54%

Operating expense ratio

1.24

1.27

1.23

Basic and diluted earnings per share

0.16

0.14

0.12

Condensed Consolidated Balance Sheet

(dollars in thousands)

Qtr Avg

Yield/Cost for Qtr Ended

3/31/2026

9/30/2025

3/31/2026

12/31/2025

3/31/2026

12/31/2025

ASSETS:

Cash and cash equivalents

330,925

252,443

271,032

274,154

3.65%

3.96%

Securities

809,566

867,216

793,899

830,320

5.49

Loans receivable, net

8,114,205

8,111,961

8,170,299

8,165,539

4.37

4.36

FHLB Stock

79,420

90,662

82,855

88,223

9.10

9.14

Other assets

494,964

456,419

486,394

468,876

N/A

Total assets

$ 9,829,080

$ 9,778,701

$ 9,804,479

$ 9,827,112

4.49

LIABILITIES AND STOCKHOLDERS' EQUITY:

Non-maturity deposits

3,235,951

2,977,397

3,154,466

3,052,304

1.22

1.23

Retail/comm certificates

2,939,822

2,890,801

2,906,513

2,885,908

3.61

3.68

Wholesale certificates

74,303

121,879

95,699

124,247

3.98

4.01

Total interest-bearing deposits

6,250,076

5,990,077

6,156,678

6,062,459

2.39

2.45

Borrowings

1,707,055

1,950,770

1,782,567

1,911,552

3.64

3.56

Non-interest-bearing deposits

674,415

601,371

647,305

609,471

N/A

Other liabilities

171,808

188,806

176,382

192,207

N/A

Total liabilities

8,803,354

8,731,024

8,762,932

7,974,011

2.67

2.72

Total stockholders' equity

1,025,726

1,047,677

1,041,547

1,051,423

Total liabilities and stockholders' equity

9,829,080

9,778,701

9,804,479

9,827,112

At or For the Three Months Ended

Net Income

Return on Average Equity

Net Interest Margin

$18.4M $18.8M $20.3M

$20.1M

7.05% 7.17% 7.72%

7.74%

2.19%

2.24%

$15.4M

5.98%

5.96%

1.86%

1.92% 1.98% 2.09%

12/24

3/25 6/25 9/25 12/25

3/26

12/24

3/25 6/25 9/25 12/25

3/26

12/24

3/25 6/25 9/25 12/25

3/26

Earnings Per Share

Return on Average Assets

Efficiency Ratio

$0.16

$0.14 $0.14

$0.16

0.76% 0.77% 0.83%

0.82%

57.86%

60.54% 58.26% 56.84% 53.66%

52.45%

$0.12

0.65%

0.64%

12/24

3/25 6/25 9/25 12/25

3/26

12/24

3/25 6/25 9/25 12/25

3/26

12/24

3/25 6/25 9/25 12/25

3/26

Disclaimer

Capitol Federal Financial Inc. published this content on April 29, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 29, 2026 at 13:37 UTC.